HINTS AND TIPS

The latest hints and tips from our blog.

Please note: The information contained in this site is provided for information purposes only and is of a general nature. It is not a substitute for specific professional advice related to your own circumstances. You are recommended to obtain specific professional advice before you take any action.

The tapered annual pension allowance

How it affects high net-worth individuals. The tapered annual pension allowance for high net-worth individuals was in the headlines again recently. Concerns were raised that its impact on doctors within the NHS pension scheme is prompting high-earning NHS staff to...

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Caseron Insider – July 2019

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights HMRC error affects payments on account bills for some taxpayersMost...

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The scourge of late payments

Outstanding invoices compromise your business’s cashflow. When you supply goods and services, you expect to be paid, and promptly, but Britain has a deeply embedded culture of late payments. Indeed, for some businesses, delaying payment is an essential part of the...

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Working from home. what are the benefits?

Advice for contractors and the self-employed. Working from home offers all kinds of benefits, from the opportunity to create the perfect environment in which you can be most productive, to the improvements to work-life balance that come with ditching the commute....

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Caseron Insider – June 2019

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Small business owners hit out at 'unfair' UK tax systemRetirees...

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How to Manage Charity Accounts

An overview of accountancy issues in the third sector. If you’re in charge of running a charity, you will know how it differs from operating a business and how its motives and goals vary. Non-profit organisations are treated very differently under the law, and...

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Caseron Insider – May 2019

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights MPs call for break-up of Big Four's accountancy Services HMRC...

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Personal tax planning for 2019/2020

What you need to know for 2019/20. With the Brexit process rumbling on, Making Tax Digital finally coming into force, and Easter around the corner, now is the time to put your financial plans in place for 2019/20. Income The way you receive an income, and the rates...

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Caseron Insider – April 2019

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Government consults on new stamp duty surchargeThousands face huge...

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Registering for Making Tax Digital for VAT

Making Tax Digital zero-hour is here. The moment has come: if your business has a taxable turnover above the VAT-registration threshold, which is currently £85,000, you’re now obliged to keep records in digital form and to file your VAT returns using HMRC-approved...

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The politics of tax breaks

How did we end up with such a complex system of tax reliefs? If there’s one thing accountants love, it’s identifying obscure tax reliefs to which you may be entitled and using them to reduce your tax bills. Tax reliefs, or tax breaks as they are sometimes called,...

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Brexit: Preparing businesses for leaving the EU

What can your firm do before 29 March 2019? As the clock continues to tick down to the 29 March 2019, when the UK is scheduled to officially leave the EU at 11pm, there is still much uncertainty around what Brexit will mean for UK business. What is certain is that it...

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Caseron Insider – March 2019

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights HMRC error hits early-paying self-assessment taxpayers Minimum...

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Changes to probate in 2019

Controversial fee increase set to take place from April. From April 2019, some estates in England and Wales could be required to pay almost £6,000 for a service that currently costs less than 4% of that amount. This is because of a proposed change to the fees families...

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The risks of a tax investigation

Will HMRC come knocking on your door? It’s a fact – humans are bad at assessing risk. We’re terrified of things that rarely happen (plane crashes, power station meltdowns) but relatively blasé about things that are statistically more likely to harm us, such as...

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Caseron Insider – February 2019

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Auto-enrolment fines rise 146% Dual-registration service passes...

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National Insurance Planning

Obligations and opportunities. National insurance contributions (NICs) are set aside to pay the state pension and other benefits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than...

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Outsourcing Payroll

Does it make sense for your business? Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll. This task consumes a large amount of time each month, with multiple...

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Caseron Insider – January 2019

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Businesses getting to grips with Apprenticeship levyR&D...

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Estate Planning – Writing your Will

How to plan and make a legally valid will. Most people don’t like to think about their own mortality, but planning for the future is important to ensure your property, money and possessions are distributed the way you intend. Writing a legally valid will is an...

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Completing your self-assessment tax return

What you need to know before filing your self-assessment tax return for 2017/18. It’s a common scenario. As the year draws to a close, the thought of your tax return is there, at the back of your mind. But with so much time before the deadline, you decide not to worry...

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Caseron Insider – December 2018

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Annual investment allowance to rise to £1m Small retailers get...

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Starting a business

What you need to know before launching a startup. Britain is a nation of fearless entrepreneurs, but the likes of Richard Branson and James Dyson didn’t go from rags to riches instantly. Branson needed a £300 loan to get his magazine up and running after dropping out...

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Deregistering for VAT

When and how to begin the process of deregistration. These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold. Limiting your ambition in this...

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Caseron Insider – November 2018

Chancellor mull abolishing dividend allowance
Apprenticeships fall 31% in the last academic year
Treasury shelves plan to scrap class 2 NICs
IPPR leads call to replace inheritance tax system

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Autumn Budget 2018

Autumn Statement 2017 – Chancellor Philip Hammond said he’d take a “balanced approach” to his second Budget of 2017

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Using pension funds in your business

How your pension funds can help finance your business. As traditional loans fall out of favour with increasing numbers of business owners, you may be looking for an alternative route for financing – and your pension could be the answer. Data from the British Business...

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Extracting profits from a business

What are the tax implications? People run businesses for a variety of reasons from passion to pride, but making a living is high up the list for most people. How do you go about drawing profit from your business, and doing so efficiently? If your business operates as...

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How to complete a W8-BEN-E Form

If you trade with a customer in the US, you may be asked to complete a W8 form before your customer will arrange payment of your invoice.  This article looks at the W8 form in more detail and considers how a micro business would fill the W8 form in. What is a W8 Form?...

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Caseron Insider – October 2018

Chancellor mull abolishing dividend allowance
Apprenticeships fall 31% in the last academic year
Treasury shelves plan to scrap class 2 NICs
IPPR leads call to replace inheritance tax system

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Tax on Residential Property

Tax on Residential Property – How has devolution affected what tax you pay? First-time buyers in England, Northern Ireland – and for a short time in Wales

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Capital allowances for plant and machinery

How to minimise business tax in 2018/19.
If there’s one thing that keeps us awake at night it’s the thought of how many British businesses are failing to claim capital allowances to which they are entitled

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Caseron Insider – September 2018

HMRC confirms ‘soft landing’ for Making Tax Digital
Stamp duty tax break saves first-time buyers £284m
Inheritance tax receipts reach record high of £5.2bn
SMEs cite VAT as ‘biggest administrative headache’

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Which business structure is right for me?

You’ve got a great business idea, you’ve done all the relevant market research, you have a bulletproof business plan, and you’ve forecasted your first quarters’ cash flow, but have you considered business’ legal structure?

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The marriage allowance explained

How to make this tax break work for you. Millions of married couples and civil partners in the UK are eligible for the marriage allowance, but take-up has remained subdued since the tax break came into force on 6 April 2015. Almost half of the UK’s eligible couples...

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Capital Gains Tax Planning for 2018/2019

How can you reduce your capital gains tax bill in 2018/19? Whether you’re a buy-to-let landlord, a shareholder, an art dealer or you fall somewhere in between, the chances are you will be familiar with paying capital gains tax (CGT). CGT is payable when you ‘dispose’...

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Caseron Insider – August 2018

Contractors criticise ‘flawed’ IR35 test
Landlords welcome tax incentives for long-term tenancies
BCC calls for further delay to digital accounts rollout
‘Tax over 40s to pay for elderly care costs’ say MPs

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Furnished holiday lettings

The pros and cons of letting furnished holiday accommodation. When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from certain tax reliefs which wouldn’t otherwise be available to residential landlords, providing...

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Caseron Insider – July 2018

Calls increase for reform of ‘flawed’ apprenticeship Levy
‘Raise the VAT threshold to stimulate SME growth’
SMEs miss out on business savings interest
Working pensioners pay £8.6bn in income tax

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Making Tax Digital for VAT-registered businesses

Obligations from 1 April 2019 onwards. Although the Making Tax Digital (MTD) regime has suffered several setbacks and delays, MTD for VAT remains on course to take effect from its planned implementation date of 1 April 2019. Under the scheme, VAT-registered businesses...

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Understanding IR35

A brief guide to the tax implications of IR35. IR35 is the shorthand name for tax rules concerning the provision of personal services through intermediaries. These rules came into effect on 6 April 2000, but they were significantly amended from 6 April 2017 for...

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Should I charge VAT on expenses recharged to my client?

A common question we are asked is whether or not we should charge VAT on expenses recharged to clients. In this article, we will look at when you should or should not charge VAT to your client. The simple answer is that if you are selling a standard rated product or...

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Travel and subsistence

Your obligations for reporting travel expenses. Many employees need to travel as part of their job for various reasons, whether it’s acquiring new customers, working with current ones or attending conferences and events. The system of benefits and taxation surrounding...

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Caseron Insider – June 2018

Tennant fees ban set to cost landlords £82.9m
Businesses call for more government support
HMRC defers launch of digital accounts for individuals
Deadline for reporting benefits in kind nears

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Personal Tax Planning

How to reduce what you owe the taxman.
Nobody wants the taxman to take more than his fair share, and planning your finances early on can ensure you adopt the most tax-efficient strategy for the months and years ahead.

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Company Cars

What’s new for 2018/19? Despite year-on-year tax rises, company cars remain a popular benefit.

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Using My Payroll Portal in Xero

Xero's employee portal has been around for a couple of years now but are you really getting the best out of it? Use My Payroll (the employee portal) to view your payroll details and payslips, submit and edit timesheets and request time off. GDPR rules for protecting...

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Caseron Insider – May 2018

Smallest firms hit by higher pension costs
Late payments affect almost half of small businesses
Selected businesses begin Making Tax Digital testing
Lack of funding holds back 1 in 4 SMEs

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From sole trader to a limited company

What to expect from incorporating your business. With a new tax year almost upon us, many sole traders will be reviewing their business structure and considering whether it’s worth switching to a limited company. There’s no denying that incorporating a business proved...

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