Should you put your car through the company?

If I had a list of the most common questions that people ask me as an accountant, the question of putting the car through the company as opposed to owning it personally has to be in the top 5. There are two answers.  One is very short and one is very long....

If you haven’t as yet – get your tax return in!

There’s a few jobs that I’m never keen on doing.  Here’s a list: 1. Thank-you cards 2. Buying Christmas presents 3. Cleaning the toilet 4. Going to the tip (actually, that’s not that bad) 5. Getting a haircut 6. Packing to go on holiday For...

The taxman is getting aggressive

Back in the day, it was the VAT man you didn’t want to mess with.  They were heavy fines for non-compliance or not paying the VAT bills.  The PAYE/NI department was the nicer younger brother of the VAT department.  The fines were less and they were less...

Tax avoidance: Why didn’t you tell me about that?

We were doing a number of group interviews this week since we are recruiting for a number of new positions in the new company.  Part of the group interview process is for me to present about what we do in the firm.  Its pretty simple, we do 3 things –...
Six Expenses You Thought Were Deductible But Aren’t

Six Expenses You Thought Were Deductible But Aren’t

Filling out your tax as a self-employed worker? Make sure you don’t try to claim these as expenses. Deductibles are a vital part of being a sole trader, as they can help to offset large costs and level the playing field between yourself and other workers. Those who...
Tax Benefits of a Husband-Wife Business Partnership

Tax Benefits of a Husband-Wife Business Partnership

Discover how you can save money on tax through self-employed partnerships. Before we go further, know that you don’t have to be a husband and wife to benefit from this tax saving technique. You just have to be living under the same roof. At Russell Smith Chartered...

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