Blog

Don’t Forget to Pay Your Pension Charge

The Pension Annual Allowance tax charge depends on your marginal rate of tax. Where their income exceeds £150,000 it would be at 45%. Thus if the pension input for 2018/19 was £40,000 and the limit is tapered to £10,000 the excess of £30,000 would incur a £13,500 tax...

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High Earners Lobbying for Pension Tax Changes

Hospital doctors, GPs and other high earners are lobbying the government to amend the pension tax rules. The current system restricts tax relief on pension contributions meaning many high earners are paying overtime salaries back in tax. The NHS Pension Service have...

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3 Software Tools We Use and Think You Should Too

Right Signature Most of us receive documents electronically to save paper and do our bit to save the environment. So why do we then print these documents to sign and then go to the effort of having to scan it back. Save yourself time, paper and energy. Right Signature...

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Does Your Car Qualify for the Higher Tax Relief Rate?

The latest Finance Act has reduced the tax writing down allowance for motor cars that emit more than 110 grams of CO2 to just 6% on a reducing balance basis from April 2019. In the case of company cars the vehicle is included in the "special rate" pool which means...

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5 Reasons You Need an Accountant

1. Help you understand your obligations A Xero study revealed that a quarter of small business owners didn't understand their tax obligations. Naivety and misunderstanding when it comes to tax obligations can be costly. Your accountant should take the stress away from...

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Tax Efficiently Extract Profits

The current £3,000 employment allowance continues to be set against the employer’s national insurance contribution (NIC) liability. If the company has not used this allowance it may be set against the employers NIC on directors’ salaries. Meaning where the only...

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5 Ways to Improve Communication Skills

Communication is an important skill to have in business, yet so many of us aren’t particularly good at it. Whether it be spoken, written or non-verbal it is important to be able to effectively communicate especially in the workplace.   Here are 5 ways you can improve...

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Does the Child Benefit Charge Affect You?

The child benefit charge was introduced in 2013 and affect over 1 million families. If you or your partner earn an adjusted income of over £50,000 your child benefits could be cut. Adjusted income is your total taxable income before personal allowances, less gift aid...

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Proposed Changes to CGT Private Residence Relief

The government is currently consulting on important changes to private residence relief that are likely to be introduced from 6 April 2020. The two possible changes announced in the Autumn 2018 Budget are: Limit to just 9 months the period prior to disposal that...

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3 Ways to Increase Prices and Keep Customers

The cost of running a business increases each year, so it doesn’t make sense to keep prices the same. Yet, many businesses don’t increase the price of their goods and services because they think they’ll lose customers. Here are 3 ways you can increase prices and keep...

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Non-Resident Capital Gains Tax (CGT) on Property

Non-UK residents will from 6 April 2019 must pay Capital Gains Tax (CGT) on the disposal of UK real estate. Prior to the legislation CGT on real estate for non-residents was only on disposals of residential property. Moving forward CGT will be applied to all UK land...

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5 Things to Do to Get More Out of Networking

It's fair to say networking isn’t for everyone. It is also sometimes seen as a social activity but its not, its an important marketing tool that can help grow your business. Here are 5 things you can do to ensure you get the most out of networking events: Have an...

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Disguised Remuneration Loan Charge April 2019

Disguised remuneration charges will apply to certain loans to directors and employees that are still outstanding after 5 April 2019. The charge affects arrangements involving loans made via Employee Benefit Trusts (EBTs) and similar disguised remuneration schemes. The...

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About Progress

Progress with Assure UK is a cloud accounting solution and advisory service based in Banbury, Oxfordshire. We look after all your digital and online accounting needs.

 

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