RS Accountants

How to Avoid The New Tax Rules on Mortgage Interest

by Russell Smith | Nov 21, 2015 | Tax

Get some expert advice from our specialist tax accountants in Leeds and find out how to legally get around some nasty new government rules. In July 2015, the government announced new tax rules that have massive ramifications for property purchases. The hardest hit...

Will the Autumn statement change the tax on contractors on Wednesday?

by Russell Smith | Nov 20, 2015 | Tax

The word on the street is that George Osborne is going to after personal service companies this Wednesday in the Autumn statement. Personal service companies are people who leave employment to contract for the same companies as limited companies rather than employees....

New payroll benefits system – the end of P11Ds

by Russell Smith | Nov 19, 2015 | Tax

P11Ds have to be completed every year if you receive any benefits from your limited company, the most common being company cars and private medical healthcare. If you have more than 1 employee receiving benefits, you can end up having a bit of a task on your hands to...

Using shares to save income tax…

by Russell Smith | Nov 16, 2015 | Tax

There are lots of ways to save income tax but here are just 3 which relate to your shareholding: 1. Split the shares with your partner 2. Watch the timing of the dividends (we can help you with this) to maximise tax saving especially around March – April, including...

6 Simple But Effective Ways to Save on Corporation Tax

by Russell Smith | Nov 15, 2015 | Tax

Running a limited company? Let our accountants in Leeds help you save on your corporation tax It is widely accepted among those in the finance industry, including our accountants in Leeds, that it is easier to save on income tax than corporation tax. Why? Regulations...

Shock Horror! No more tax relief for subsistence?

by Russell Smith | Nov 9, 2015 | Tax

At the moment, the tax rules allow businesses to pay tax and NI-free sums to directors and employees to cover the cost of meals they buy while on business. However, the government are now saying that these rules are out of date and are proposing to abolish the relief...

Increase your bank balance, boost your profits and save tax

by Russell Smith | Nov 8, 2015 | Tax

Do you lay awake at night worrying about customers paying you and the lack of cash in your business bank account? Is your business growing but you are not sure if your business is making profits? Are you concerned that you may be paying too much tax? If YES, then come...

What is Entrepreneur’s Relief?

by Russell Smith | Nov 6, 2015 | Tax

Confused about Entrepreneur’s Relief and its tax benefits? Our tax accountants from Leeds can help! The taxman isn’t always out to get you. Sometimes, he even helps you out. Entrepreneur’s relief is a highly valuable tax relief scheme and one every business...

If you drive a VW – don’t worry about extra tax regarding the CO2 scandal

by Russell Smith | Nov 5, 2015 | Tax

Road tax and P11D company car benefits are based on CO2 emission. As you probably know, CO2 readings have been inaccurate on VW cars. So some clients have asked me whether they will receive a surprise tax bill based on new CO2 numbers. Fortunately, HMRC have confirmed...

Don’t bother with the transferable tax allowance for married couples…for now..

by Russell Smith | Nov 3, 2015 | Tax

Since 6 April 2015 the transferable tax allowance (TTA) has been available for married couples. However, at the moment it is virtually impossible to claim it. The TTA was anounced in late 2013 and HMRC have had since then to provide a claim process but as of writing...