This week HMRC have announced they are to increase support for mid-sized businesses to help as they move towards expansion. In order to qualify these businesses must have more than 20 employees or a turnover of over £10 million. This new Growth Support Service will offer specialist tax experts’ advice tailored to the individual business. If you meet the criteria you can apply online. This service follows the introduction of the Small Business Online Forum last month. This online service provides support for newly launched businesses and those self-employed. If you require one-to-one support with your financial records or would
In a surprise move, Chancellor Hammond reversed his decision announced in the budget little more than seven days ago. Amid controversy over the possibility of the proposed changes being in contravention of a manifesto pledge, the U turn overturned plans which would have affected small business owners and the self-employed. The letter Chancellor Hammond sent to the Chair of the Treasury Select Committee, ahead of this announcement today can be read here on the .gov website. So where does this leave you, the self employed, small business owner? I can advise on all your tax, NIC and VAT queries. I
Chancellor Philip Hammond delivered his budget on Wednesday 8th March and defended the generally controversial changes to Class 4 NIC on Thursday 9th March. The changes are widely unpopular as they appear to break a 2015 manifesto pledge not to raise taxes. But politics aside, what are the facts behind Chancellor Hammond’s budget? How will it affect you and your business? For full details of what this budget means for self-employed business owners contact Jenny who can advise on all tax matters. Read the full budget here A copy can be downloaded here Or read the summary from the .gov.uk
The next deadline for submitting your tax return falls on 31 January and this is for online submissions. Don’t forget about this deadline. If you have any queries regarding your tax affairs please contact us. We can help with personal and business tax returns and ensure that your financial records and books are up to date. Don’t fool yourself into thinking the deadline is open to negotiation. HM Revenue and Customs reveal here the top 10 worst excuses for missing the deadline. If you are planning to make 2017 the year you take the plunge into self-employment, speak to us.