If you are running various projects across your firm simultaneously, you may need some type of project management tool to help you to keep track of progress, manage emails, deadlines and so forth. Projects are a specific type of work. Every project has a start and end date, and a deliverable. For example, launching a new service is a project and building a new website is a project. However, cash

It’s time to rethink how we connect with customers, suppliers, colleagues and the business community. The way we work is becoming increasingly digital. Today it is pretty normal for people to work remotely at least one day per week and this is just the tip of the iceberg. As the future of work looks set to become more and more focused on digital, it’s going to be the fundamental human

Gifts and awards of shares in companies, often known as employment related securities (ERS) are commonly used by employers to reward, retain or provide incentives to employees. They can be tax advantaged or non-tax advantaged. You must notify HMRC of all new ERS schemes including one-off awards or gifts of shares by 6 July following the end of the tax year in question or you may have to pay a

The latest Finance Act has reduced the tax writing down allowance for motor cars that emit more than 110 grams of CO2 to just 6% on a reducing balance basis from April 2019. In the case of company cars the vehicle is included in the “special rate” pool which means that even when the car is sold the proceeds are deducted from the pool and the 6% allowance continues until

The Pension Annual Allowance tax charge depends on the individual’s marginal rate of tax. Where their income exceeds £150,000 it would be at 45%. Thus if the pension input for 2018/19 Was £40,000 and the limit is tapered to £10,000 the excess of £30,000 would incur a £13,500 tax bill on top of their normal tax liability.   You can ask your pension provider to pay HMRC out of your

Hospital doctors and GPs are lobbying the government to amend the pension tax rules as the current system of restricting tax relief on pension contributions means many doctors paying almost all of the extra salary back in tax if they take on additional responsibilities or work additional shifts. This is an issue that doesn’t just affect doctors as it potentially restricts the tax relief available to other individuals with high

We can learn more from failure than success. According to Richard Branson, “One thing is certain in business. You and everyone around you will make mistakes.” If we are all spending time making mistakes, it makes sense to learn from them. Failure is a critical part of building a successful career, and how you handle failure is a big indication of your true potential. Failures can teach you a lot

  We recently looked at tax planning to minimise or eliminate the high income child benefit to keep both husband and wife (or civil partners) looking after a child below the £50,000 threshold. Where the income of one of the individuals exceeds £60,000 such that the whole of the child benefit is taxed they may be tempted not to claim child benefit at all. This may however limit the amount

In the Autumn Budget the Chancellor announced that the “off payroll” workers rules that currently apply in the public sector would be rolled out to the private sector in 2020. The government have now issued a consultation paper that sets out proposed tax and national insurance changes that will impact on those supplying their services through personal service companies. End users will be required to determine whether the rules apply

Making tax digital (MTD) is now law for all VAT registered businesses with turnover over £85,000. This new law requiring Digital record keeping and filing of VAT returns via the MTD portal came into force on the 1 April 2019. This means change for many businesses but also a huge opportunity.     Do you want to reduce your running costs and streamline your accounting? There are significant advantages to going