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 readingTax Tips for income over £100,000
Beware of a potential 60% tax rate risk on your bonus. If you receive a bonus this year then it’s possible you will pay an effective 60% tax rate on your additional income. There are ways to mitigate this very high tax rate but you need to act now!
Continue readingHelp your employees beat the post-Christmas bulge
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 readingSave money by driving an electric car
Multiple tax benefits are available for drivers of electric company cars – and many of us don’t even realise it. HBA Director, Karen Chase, will save over £6,000 this coming tax year as she won’t be paying tax on the benefit-in-kind (BIK). It may finally be time to benefit from driving a company car!
Continue readingLaughable excuses for late tax returns! You do not want to receive a penalty for not filing in time
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 readingAccounts tools: Aged debtors report
Does your business make use of an Aged Debtors Report? All businesses compile annual accounts as part of their statutory duties. Many also use management accounting tools to improve their business performance, especially if they are mid-sized businesses. This type of financial report is often completed each month and sheds light on the effectiveness of current business strategies. Here we put one such tool, the Aged Debtors Report, into the spotlight.
Continue readingNew Year Networking with HB Accountants
HB Accountants Ladies Networking Lunch
Are you thinking that 2020 is the year that you should get better connected? Networking is one of the many opportunities to make new business contacts, get advice and swap tips and as a result (and because HB Accountants believe networking is fabulous for business) we organise a Ladies Networking Lunch every quarter.
Team HB’s John celebrating his 50 years of Tax
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.
Self Assessment tax return deadline
The deadline for filing your Self Assessment tax returns online is looming on 31 January 2020. Consequently, around 12 million people are required to complete these tax returns. They are mainly those who are self-employed or have more than one source of income. For those people who haven’t filed online before, they’ll need to register first and should allow an extra 20 working days, in other words register by Friday 3 January 2020.
Continue readingThe Ambition Conference 2019 – why you should be there in 2020
Held at The Spotlight in Hoddesdon this fantastic event was initiated to inspire local businesses to grow and excel, attendees hit the 130+ mark. The result… a fantastic day! Read here why you & your sales or marketing team should be there in 2020.
MC for the event, Jeremy Nicholas took to the stage and introduced 6 fantastic speakers.
Continue reading