8 Ways To Reduce Your Capital Gains Tax Liability

1. Use your Capital gain tax allowance: You are allowed a tax-free Capital Gain Tax allowance of £12,300 (2021/22) before CGT will be due. This is a separate allowance to your tax free personal allowance for Income tax. Any gains of up to £12,300 in a tax year will therefore not attract capital gains tax.…Read More

Important Changes for Taxi, Private Hire or Scrap Metal Licence Applications.

Need to apply for a Taxi, Private Hire or Scrap Metal licence soon? The Government have announced that there will be changes to the application process which you need to be aware of from 4th April 2022.   The rules are changing if you’re an individual, company or any type of partnership applying for a licence for a:  Taxi driver.   Private hire driver. …Read More

Government Support and Child Care.

If you have children, then the Government support you in various ways with your childcare costs. There are three main initiatives and even the government admit that 4 out of 5 people don’t claim all they are entitled to, so we have tried to summarise the schemes below as well as point out scenarios that…Read More

How to write off Bad Debts within QuickBooks Online (QBO)

Bad debt(s) will mean that a customer owes you money, however for some reason you are unable to collect it. Within QBO, this will result in you having a debt owed to you which you know you aren’t going to get paid for. To write this balance, or ‘bad debt’ off, the remaining balance will…Read More

Open Banking Update

Open banking regulations came into impact on March 14th 2020.  Since then, most people with bank connections to QuickBooks will have noticed a difference to the way that their accounts are connected, whether that be that the connection now runs uninterrupted for 90 days without security needed, or that the bank feed is no longer…Read More

Venture Capital Trusts

Venture Capital Trusts (VCT) are investment companies, listed on the London Stock Exchange, that aim to provide higher income earners with the opportunity to invest their money into smaller businesses in exchange for favourable tax breaks. VCT’s look to collect money from individual investors/groups and re-invest the funds into smaller UK businesses in order to…Read More

Buy to Let Properties – Buying through limited company vs personally

There has been a large increase in the number of landlords purchasing a property in limited companies rather than personally in the past few years. This is mainly due to the changes in finance relief available for buy-to-let properties as set out in the 2017 budget. In this blog, we detail the key differences in…Read More

Benjamin Franklin

Beware of little expenses; a small leak will sink a great ship.

Benjamin Franklin