resist the urge to take your dividends monthly

If you are the director of a limited company then it is likely you will plan to take a low salary of around £7,000 per annum and then take the rest of your income as dividends.  This is sensible tax planning and perfectly legitimate, however resist the temptation to take dividends monthly otherwise you could […]

Posted in January 2014

beware, bogus tax return websites want your money!

Individuals submitting their tax returns this month are being warned to make sure that they use the correct website. A number of people filing their returns in a hurry have been duped into using bogus websites that look and feel very similar to the HMRC official site. Unfortunately these other sites rank top in the […]

Posted in January 2014

taxman to put his foot down

Changes to motoring laws mean that HMRC will be given a special exemption from obeying the speed limit. This means that the taxman (along with border force agency staff) will soon be allowed to break the speed limit, just like the police, fire service and ambulances. Despite not being an emergency service in the traditional […]

Posted in January 2014

can you claim childcare costs as a contractor?

You may be aware that in the UK parents are entitled to support with their childcare payments, most frequently discussed are childcare vouchers. However if you are a contractor with children under the age of 15 can you benefit from the tax breaks too? the answer is YES and it could save you £1800 as […]

Posted in January 2014

late filing excuses that don’t work…

The self assessment tax return deadline is looming on the horizon and in anticipation for a sea of late returns HMRC has published it’s top 10 oddest excuses for missing the 31st January deadline. the list includes: 1. My pet goldfish died (self-employed builder) 2. I had a run-in with a cow (Midlands farmer) 3. […]

Posted in January 2014

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