UK Tax Strategies for 2019: Can You Really Save Money?

UK Tax Strategies for 2019: Can You Really Save Money?

As we move into the new year, and towards the end of a financial one, you might be thinking of ways you can save on your tax bills. But are there any legitimate tax strategies that actually work to save cash? It doesn’t matter if you are a private individual or a...

Can You Be Employed and Self-Employed at the Same Time?

Confused about whether or not you can be employed and self-employed at the same time? In this blog, we look at the legality and logistics of such a working scenario. At Russell Smith Chartered Accountants, we get asked this question a lot: can I be employed and...
The 6 things you need to know about the 2016 budget

The 6 things you need to know about the 2016 budget

    I’m writing this after the 2016 budget given by George Osborne, the chancellor of the Exchequer and I’m still surprised by how many new announcements there were that were relevant to small business. My overall view is that it was a great budget for small business....
How will HMRC collect tax in a few years?

How will HMRC collect tax in a few years?

  HMRC have taken a bit of a battering over the last year on it’s dealing with ordinary taxpayers and in contrast with some of the technological giants like Amazon and Google. The truth is that HMRC have been cost cutting for a number of years now and shedding...
How to get the biggest tax saving of all part 2

How to get the biggest tax saving of all part 2

  Yesterday, I talked about how the 10% tax on a business sale and accumulated profits may end up being taxed at a much higher rate. So if you have £200,000 in the bank and sell your business for £700,000.  The £700,000 could be taxed at 10% whilst the £200,000 would...
How to get the biggest tax saving of all part 1

How to get the biggest tax saving of all part 1

Since the introduction of Entrepreneur’s relief, the absolute best way of saving the most tax is to: – Start a business – Grow a business – Take out up to £38,000 tax free (after paying 20% corporation tax) – Sell the business –...

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