Smart Team 2017 Budget Bulletin

Last Wednesday, Philip Hammond, Chancellor of the Exchequer, rose to deliver his Autumn Budget speech to the House of Commons. With Brexit 17 months away, a slowing economy, and concerns that [...]

The Patent Box

The patent box offers a significant and ongoing tax break to businesses involved in innovation. Currently very few high-tech firms and companies which develop and use patents in their line of [...]

Abolition of Self-Employed NIC to be Deferred

This month, the government announced that they would be postponing the abolition of Class 2 National Insurance Contributions until 6th April 2019. This comes after The Low-Income Tax Reform Group [...]

Using Company Money to Pay Your Mortgage Down

If you’re a contractor and you’ve accumulated an impressive amount of savings in your limited company account, could you put that money to use to pay off your mortgage or at least offset part of [...]

The Staircase Tax – What is it?

Despite the verdict of the Supreme Court being announced all the way back in 2015, the staircase tax has really only begun to caught controversy in the press in the last few months. Businesses [...]

Flat Rate VAT Scheme Changes for Limited Cost Businesses

Flat rate VAT is a scheme open to smaller business where HMRC collects roughly the same amount of tax they would under the normal scheme but it’s simpler for the smaller business to operate. [...]

Dividend tax 2018/2019

Dividend tax 2018/2019 and everything you need to know about it. Shareholding directors receive dividends on the profit their companies make. It’s a straight payment from the company to the [...]

Could Cashflow Problems Destroy your Business?

Running your own business is no easy feat. Every day new problems arise that make things more difficult but there is one extremely common issue that can bring down even the most successful [...]

Fuel Scale Charges

Claiming VAT on mileage is a benefit you should only take advantage of if you provide free fuel to employees (for both business and personal use) and reclaim all of the VAT on that fuel. This is [...]