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Blog: Business Tax

Give yourself Time to Pay

Give yourself Time to Pay Taxpayers who are unable to pay their Self-Assessment (SA) bill can use the option of paying by instalments with a Time to Pay arrangement with HM Revenue & Customs (HMRC). If you cannot pay a Self-Assessment tax bill you can make your own Time to Pay arrangement using your Government Gateway account,

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The advantages of electric vehicle salary sacrifice schemes

Businesses looking to reward and retain staff members may wish to consider offering an electric vehicle (EV) salary sacrifice scheme. Not only are many EVs better for the environment, but they could also offer businesses considerable savings. Businesses can use employee salary sacrifice – similar to schemes offered for pension contributions, cycle to work schemes

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Time to take advantage of tax relief while it is still available for Ltd Companies?

Pensions are one of the most tax-efficient ways to invest, and tax relief continues to be a considerable advantage to the millions building a fund for retirement. As a Ltd Company, Corporation tax relief is currently granted on pension contributions as an allowable expense for business purposes. This rate of relief for most companies will

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Chris Moir

Staying Onside with the Taxman over Offshore Disclosures

By Chris Moir, head of trusts & estates at RMT Accountants & Business Advisors One of the recurring themes of the campaigning in the lead up to the recent General Election was the focus that all political parties promised they would have on maximising tax revenues if they were returned to office, especially where illegal

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Anthony Andreasen

DO YOUR RESEARCH ON R&D TAX RELIEF CLAIMS

By Anthony Andreasen, director at RMT Accountants & Business Advisors There’s no reason why UK – and indeed North East – companies shouldn’t be right up there with the best in the world when it comes to innovative research and technology. Thanks to the Government’s research and development (R&D) tax relief scheme for SMEs and

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An Introduction to VAT

VAT is a tax chargeable on taxable supplies made in the UK by taxable persons. Credit is given for tax paid to other businesses and the net balance is payable or reclaimable – normally on a quarterly basis. Taxable persons A taxable person is defined as one of the following carrying on a business: A

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An Introduction to the Tax System for the Self Employed

Registering with HM Revenue & Customs (HMRC) If you start working for yourself, you must register with HMRC within the first three full months of self employment. Otherwise you may be liable to penalty of £100. There are three ways that you can register: Online – www.hmrc.gov.uk and follow links to self–employed Register for Self

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What you need to know about company car tax

The basis for taxing those who use company cars is to tax a figure calculated by multiplying the car’s list price by an emissions-based percentage (the “appropriate percentage”), with a 3% surcharge on diesel powered cars. The maximum taxable value of the benefit is 35% of the list price of the car when first registered.

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