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Archive for the ‘The Basics’ Category

Coping with companies: incorporated sole traders

June 30, 2010 1 comment

So, you’ve run your business successfully for a while now, and your accountant suggests you transfer the business to a limited company for tax reasons. Eighteen months later, your tax bills seem higher than ever and your adviser is muttering something about ‘section 419* tax’. What’s going on? Read more…

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CGT: Cryptic, garbled, terrifying

June 25, 2010 Leave a comment

Capital gains tax. It was big news before the Budget, and it’s still big now. What do you need to know?

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Renting and raving

June 25, 2010 Leave a comment

The recent story of the previous Chief Secretary to the Treasury may have been an unfortunate set of circumstances or deserved comeuppance, depending on your point of view. However, tax brains never stop, and there are some points about property income and tax which not everyone knows, so here follows some vanilla-flavoured basics.

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The Basics – 1. Going it alone: registering as self-employed

June 24, 2010 1 comment

Because of the economic situation, you may have recently decided to go self-employed. This is a busy time for you as you go about setting up your business, with finding work and getting paid high on your priority list. However, you should take time to make sure you understand and act on your tax and National Insurance obligations, otherwise you may end up costing yourself a bob or two. Read more…