Month: February 2017

Tax Year End Tips & Advice On How To Save Tax

Advice for Small Business LeeP Clients for the end of the Tax Year The end of the tax year is the 5th April 2017 and everything is pretty much done and dusted right? Wrong – this time of year means a lot of things for small businesses. It’s not only time to start thinking about…

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Time to buy a new car before 1st April 2017

As result of car manufacturers making their cars so much more “green”, the treasury now needs to fill their road tax “hole” and new road tax rules come into force this Spring in order to recoup this deficit.  The New car Vehicle Excise Duty will rise considerably from 1st April and will impact low emission…

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Use your ISA allowance before times up!

LeeP tip#21: if you don’t use up this years ISA allowance of £15,240 by the 5th April then you lose it! If you have spare funds then make sure you invest it into a tax free ISA. From 6th April 2017 your ISA allowance increases to £20,000.

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LeeP Accountants Mileage Expense tip #3

Whether you don’t have a car, or are simply car sharing to travel for business, you can claim 5p/ mile as an allowable business expense to set off against your business profits thereby reducing your taxable profits and ultimately reduce your tax liability. It might not amount to much, but, in the words of the…

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Annual Returns are No More!

Did you know that the Annual Return for Companies has been replaced by the Annual Confirmation Statement? The Annual Confirmation Statement is a longer more detailed version of the old Annual Return but it still costs the same – £13 if you submit on line or £40 if you send in by post.   When do…

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Quick Excel Tip For Non-Accountants

Microsoft Excel is a tremendously powerful tool and even us accountants don’t use all the functionality it offers. We often do things on it without thinking and here at LeeP we thought we’d share a series of tips with you to make your life simpler if you use excel but are not quite a big…

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Mileage Tip Part 2

If you are an environmentally friendly sort/ a fitness bod or simply want to commute by cycle as it’s quicker through traffic then did you know that you can claim 20p/mile for each mile cycled for business? This reduces your taxable income meaning you will pay less tax on your profits, get fitter and be…

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