IDEAL SALARY FOR 2021-22 As the owner and director of your own company you decide how much salary to take each year. We can help confirm what the optimal salary is for you in 2021-22. Paying yourself a small salary can be a good way to maintain your national insurance…
Corporation tax complexity The Chancellor announced that taxes would have to rise, but not quite yet, as all tax rates except for VAT are frozen for 2021-22. Large companies will then see their corporation tax rate rise from 19% to 25% from 1 April 2023. Companies making no more than…
Third SEISS grant The online claims portal for the third self-employed income support scheme (SEISS.3) grant opened on 30 November. If you qualify for the grant you should receive a lump sum payment covering the three months from 1 November 2020. You have until 29 January 2021 to submit your…
NEWSLETTER September 2020 Is it a car or a van? Whether your business buys a car or a van can make a big difference to the tax relief given on the cost of the vehicle and to the tax payable by the driver who uses it for private journeys. In…
NEWSLETTER June 2020 Self-employed grants If you are self-employed and your business has been adversely affected by COVID-19 you may be eligible to claim a grant from HMRC of up to £7,500. To qualify for this self-employed income support scheme (SEISS) you must meet all of these conditions: you traded…