If you can demonstrate a need for a van for your business, then this could be a really tax efficient way to acquire a van and use it for your biking enjoyment too but there are a few things to watch out for to ensure you are on the right side of the tax man:…
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LeeP Tip: Tax payments and what HMRC don’t want you to know about!
For many people, 31st July signifies another payment to HMRC – it’s called a “payment on account” towards your 2017/18 tax liabilities and was calculated based on your 16/17 tax return. If your bill is rather large, then did you know that there are various options for you to consider: Option 1 If you think…
Read MoreLeePTip on Home Office Expenses for Sole-traders
“Can I claim Home Office costs and How much?” This is one of the most commonly asked questions we get asked here at LeeP, your local Peterborough Accountants, and there are so many misconceptions are flying around. Here is what you need to know if you work from home. There are TWO methods you can…
Read MoreProtected: Tax advice from HMRC
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Read MoreSelf Assessment Tax Return How-To Guide by LeeP Accountants Peterborough
Get your records in order Record-keeping is a vital for every self-employed person. You have a range of legal obligations when it comes to record-keeping – but entirely apart from this, the Self Assessment process will be significantly easier if you have the relevant documents easily to hand, and organised in an effective way. The…
Read MoreWhat’s New In The Autumn Budget?
In Summary, the Autumn Budget today impacts your business and personal finances in the following ways: Stamp Duty has been abolished for all new home purchases costing £300,000 or less. This means a potential saving of £3,500 compared to the old stamp duty of 2% on homes costing more than £125,000. This means that if…
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