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…
Read MoreMonth: February 2017
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…
Read MoreUse 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.
Read MoreBe Aware of The New National Minimum Wage from April 2017
From April 2017 there is a new National Minimum Wage introduced by the Government. You must ensure that you pay your employees at least this:
Read MoreLeeP 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…
Read MoreAnnual 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Did you know that the Annual Return for Companies has been replaced by the Annual Confirmation Statement?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…
Read More