Category Archives: Tax

Spring Budget 2020

Posted on by

Following the UK’s departure from the EU, Chancellor Rishi Sunak presented the 2020 Budget against a backdrop of economic uncertainty caused by the spread of the coronavirus.

HB Accountants’ “Be Informed” Budget Summary provides you with an overview of the key announcements arising from the Chancellor’s speech. Measures for businesses include a capital gains tax reduction in the Entrepreneurs’ Relief lifetime limit from £10 million to £1 million, together with changes to Statutory Sick Pay for employees advised to self-isolate because of the coronavirus.

Continue reading

Tax tips for individuals 2019/2020

Posted on by

As the end of the tax year approaches, it’s a
great time to review your personal financial position and look for more
efficient ways of managing your income. Here are our top tax tips for
individuals as we approach the end of the tax year on 5th April 2020. If you
want to know more, give the tax team at HB Accountants a call.

Continue reading →

Is it tax efficient to pay dividends before 6th April?

Posted on by

As we approach the end of the tax year, many businesses will be reviewing how much profit they have made over the year and therefore, calculating how much money they could take out of the business in dividends.

A question that I am regularly asked is whether to pay out dividends BEFORE the end of the tax year or AFTER it? Of course, there is not one clear answer, but the following information may help you decide.

Continue reading →

National Insurance Updates: Are you aware of the changes?

Posted on by

The National Insurance Contribution Threshold will rise to £9,500 a year on 6th April 2020, consequently 31 million UK taxpayers will begin to pay less national insurance!

This means that the typical employee will pay around £104 less in 2020/21, and self-employed people who pay national insurance at a lower rate will have £78 cut from their bill.

Continue reading →

Year End Tax Tips for Businesses 2019/2020

Posted on by

As the end of the tax year approaches, it’s a great time to consider if there are any opportunities to benefit from tax relief. Here are HB’s top tax tips for businesses for the year end – if you want to know more, give the tax team at HB Accountant a call.

Continue reading →

Help your employees beat the post-Christmas bulge

Posted on by

Work related ill health is a serious issue and with recent government figures suggest that 1.3 million workers suffered from work-related ill-health. This equates to potentially over 25 million working days lost, hence promoting employee health and wellbeing has never been so important and is considered a vital part of a successful business. This, however, does not necessarily come cheap. It is estimated to cost £522 per employee which equates to up to £32 billion per year for UK business alone.

Here are some areas where you as an employer can use tax breaks and exemptions to help encourage a healthy mind and a healthy body at work.

Continue reading →

Laughable excuses for late tax returns! You do not want to receive a penalty for not filing in time

Posted on by

You do not want to receive a penalty for not filing your return in time. As you’d expect, most taxpayers provide their Self Assessment tax returns on time with honest information and pay their tax bill on time too. But alongside all these good citizens and business folk with their straightforward tax returns HMRC also receives a raft of laughable excuses as well as some dubious tax-reducing expense claims. Surely no one in our local area of Hertfordshire, Essex and north London would have put these whoppers for late tax returns forward?

Continue reading →

Team HB’s John celebrating his 50 years of Tax

Posted on by

HB Accountants are proud to announce that our Tax Guru and Director John Neighbour is celebrating 50 years in Tax with The Chartered Institute of Taxation (CIOT) – we are wondering if there is has been a miscalculation… surely John can’t be a day over 50 himself!

What a fantastic achievement, congratulations John.

#taxguru #CIOT #celebrating #hbaccountants #hbahoddesdon #hoddesdon #notyourusualaccountants

If you would like any help with your personal or business tax, accounts, payroll or have any other questions, feel free to call Team HB on 01992 444466 or email directors@hbaccountants.co.uk – we will be happy to help.