Making Tax Digital goes live in a few months. If you have heard the phrase “Making Tax Digital” recently and are wondering what it’s all about, this is a quick summary of the important details. What is Making Tax Digital? Making Tax Digital (MTD) is a UK government initiative which Read more…
Many people know that, if they drive a company car, they are able to claim back 45p per mile (or 25p after the first 10,000 miles) as an expense. But did you know your business can also claim back VAT you spend on fuel? HMRC allow the 45p/25p per mile Read more…
Once your new business is up and running, and revenues are finally coming in, you’ll quite rightly be considering how best to extract your well-earned cash! There are three main ways – salary, dividends, and director’s loan – which I’ll discuss below. SALARYAs director, you can pay yourself a salary Read more…
It’s been a few months now since the Exonia HQ moved to Calgary, Canada from the UK. The move itself went, all things considered, very well – although one of the Practice Principals is still heartbroken that his favourite butter dish was lost in transit. Calgary (for the most part) Read more…
Fraud We’ve all heard about identify theft and associated fraud in our personal lives, with thieves hijacking your identity to take out loans and masquerading as someone else to commit nefarious deeds. Not only can it happen to people, but to businesses too. Obviously, a corporate credit card can be Read more…
One of the most common company secretarial tasks we perform (other than the background noise of confirmation statements and dividend vouchers and updating director details) is filing the paperwork with Companies House to do a share split. Many of our clients formed their companies with one share of one pound, Read more…
One of the most common questions we are asked by our clients is what VAT scheme should we be on (or which is most tax efficient). Of course, that depends on individual circumstances, but here’s a rough guide to the schemes available. Accrual VAT This is the common-or-garden VAT scheme. Read more…