Internet fraudsters are using ever more intricate messages to trick you to part with private information. For example: your bank details and passwords. They may also hide viruses in email attachments that will give them access to your personal computer files. The viruses will usually be activated if you open the attached files. The best way to combat this activity Continue ReadingRead more
Business rates exemptions
Certain property, whether occupied or out of use for a period, may be eligible for exemption from payment of business rates. The GOV.UK website lists the following as potentially eligible: Exempted buildings - certain properties are exempt from business rates. Exemptions include: agricultural land and buildings, including fish farms buildings used for training or welfare of disabled people buildings registered Continue ReadingRead more
Do you need to fill in a tax return?
HMRC have determined that you must complete a self assessment tax return if any of the following circumstances apply to your personal, financial circumstances: 1. You're a company director, minister, Lloyd's name or member. Your annual income is £100,000 or more. You have income from savings, investment or property. If you are an employee or a pensioner and already Continue ReadingRead more
Construction Industry and tax
All active building contractors and building subcontractors are subject to HMRC regulation. The rules they have to abide by are set out in the Construction Industry Scheme (CIS). Essentially, contractors cannot pay their subcontractors without stopping tax. Only in specific circumstances can payments be made without deduction of tax. The scheme operates a little like the PAYE system with one Continue ReadingRead more