Baker Morris Chartered Accountants have over the years come in contact with many owners, leaders and entrepreneurs and the only thing that separates the best from the rest is how they embrace change. Think about it without change, progress and without talent that helps push...
The BCC (British Chamber of Commerce) has called to delay the MTD Making Tax Digital until 2021 fiscal year, the recent survey confirmed that 24% of firms are not even aware of the initiative, 65% are aware of the I initiative by name and a little...
Growing profits in today's volatile economic landscape is no mean feat, but whether you are running your business from a comfortable position or walking a tightrope actively making decisions to increase profits is crucial to any size business. When you stop refining ways or actively...
Ready for RTI end-of-year compliance? As an employer running payroll, you must submit the final full payment submission (FPS) to HMRC by 5th April 2017, as always, on or before the payment date of your employees. If you are using HMRC software, you need to indicate “Yes”...
Dividend Tax Free Reduced The Divided regime changed from 6 April 2016 where you won’t pay tax on the first £5,000 of your dividend income, no matter what non-dividend income you have. If you are a basis rate taxpayer, you pay 7.5% any dividend taken above £5,000...
Missed the tax return deadline and received a Penalty? What can you do to avoid or minimise the risk of a penalty? If you missed the 31 January 2017 for filing your tax return, you will get a £100 penalty. But this is not end of the...
Changed to cash basis accounting- can you take advantage? When you run a small unincorporated business, cash basis accounting may suit you better than traditional accounting where you record income and expenses by the date you invoiced or were billed. Under cash accounting principles you only need...
Ways to reduce the impact of tightening buy-to-let tax rules As you are aware, the buy-to-let market has been bracing itself following successive moves by the government to add an additional 3% to stamp duty followed by restricting tax relief on buy-to-let mortgage interest payments. Having said...
Choosing an accountant – What you need to know Looking for and choosing an accountant is not a decision that can be taken lightly and in a rush – the accountant you choose will play a very important part in your company and in its growth. Some...
Are You Planning to Take Advantage of Additional Tax Free Allowance from 6 April 2017 As well as the present £5,000 tax free divided allowance and the saving allowance of £1,000 there will be two additional tax allowance beginning 6 April 2017. There is going to be...