Selecting the right accountant is a crucial decision that can significantly impact your business’s financial health and growth potential. The right accountant not only manages your finances efficiently but also offers strategic insights that drive your business forward. At LeeP Accountants, we understand the importance of finding the perfect fit. Here are some essential tips…
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If you’re considering an electric company car, you might be wondering, ‘will having a company Electric Vehicle (EV) save me tax?” At LeeP Accountants, we believe in helping you with the knowledge to make informed financial decisions. Here’s a look at how an electric company car can impact your tax liabilities. Understanding Benefit-In-Kind (BIK) TaxWhen…
Read MoreChancellor Jeremy Hunt used his Autumn Statement to deliver a fiscal pick-me-up for the Conservative backbenchers at the start of an election year with a 2% cut to national insurance, and making the full expensing capital allowance scheme permanent. Here are the relevant points that impact small businesses: For the self employed, Hunt abolished class…
Read MoreIf you are an employee in the UK who earns more than £100,000, you may be familiar with the hassle of filing a self-assessment tax return every year. However, this is about to change from the 2023-2024 tax year, as the government has announced that the income threshold for needing to submit a self-assessment form…
Read MoreIf you own a second home, such as a holiday cottage, a buy-to-let property, or an inherited house, you may have to pay capital gains tax (CGT) when you sell it. CGT is a tax on the profit you make when you sell an asset that has increased in value. The current CGT rates for…
Read MoreMarriage allowance is a tax benefit that allows you to transfer some of your personal allowance to your spouse or civil partner if they earn more than you. Your personal allowance is the amount of income you can earn tax-free each tax year. By transferring some of your personal allowance, you can reduce your partner’s…
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