National Minimum Wage Increase

March 16th, 2018

As you may be aware as from 1st April 2018 the National Minimum Wage will increase as follows: – 25 and over will increase to £7.83 per hour – 21 – 24 will increase to £7.38 per hour – 18 – 20 will increase to £5.90 per hour – Under 18 will increase to £4.20 […]

Tax saving in the run-up to the tax year-end

February 19th, 2018

The end of the tax year on 5th April marks your last chance to take advantage of some major tax savings.  It provides a huge ‘use it or lose it’ opportunity for year-end tax planning for individuals and businesses and has become more important than ever.  Take a look at Tree Accountancy’s Year End Tax […]

Planning for the end of the tax year

January 23rd, 2018

The run up to the end of the tax year fills many with a sense of dread.  But when you join forces with an expert accountancy practice, it can be a tremendous opportunity to review tax opportunities and make smart adjustments to your financial plans.  The old adage of ‘use it or lose it’ definitely […]

Did you know? Contact lenses are tax deductible

January 22nd, 2018

Did you know that the provision of contact lenses is not taxable if your employer has to provide them for monitor or screen work.  The NIC legislation states that where an eye test result finds a general need for glasses, as well as a special prescription for VDU use, the employer should pay or reimburse […]

A guide to Inheritance Tax

January 18th, 2018

The ‘residence nil rate band’ can result in an Inheritance Tax saving even if, due to the size of your estate, the prospects for meeting its conditions appear unpromising at first glance.  Families are paying more in Inheritance Tax (IHT) than ever before. Official figures show that the amount collected last year exceeded £5 billion […]

High Street vouchers still tax free

January 17th, 2018

As many of you are in the middle of completing your self-assessment tax return, you might be pleased to know that if you were fortunate enough to receive high street gift vouchers as part of your Christmas bonus, they could be a tax free bonus. This is because they are defined by HMRC as non-cash […]

HMRC no longer accepting tax bills paid by credit cards

January 4th, 2018

The introduction of new EU rules means that you can no longer pay your tax bills to HMRC by credit card. Each year, almost half a million people spread the cost of their annual tax bill over several months by paying it on a credit card.  But from 13th January 2018, just 2 weeks before […]

HMRC self-assessment tax return deadline – are you risking £100 fine?

December 19th, 2017

The deadline for online self-assessment tax returns is 31st January 2018.  If you miss it, you could be fined £100 by HMRC. Who needs to fill in a tax return? You need to file a tax return if you are: – self-employed or work as a sole trader – a company director – employed and […]

What could a cyberattack do to your business?

December 7th, 2017

Fact: Cyberattacks on SME’s often result in substantial financial loss.  Some attacks can even close a business for good. This can include: – theft of corporate information – theft of bank details and payment cards – theft of money – loss of business or contracts – disruption to trading – loss of reputation as a […]

Small Gesture, Big Impact

December 1st, 2017

To round off a successful year in business, and as Christmas is just around the corner, wouldn’t it be good if you could boost staff morale, reduce your Corporate Tax bill and even offer incentives to join your business? All in one small gesture. Well you can. Employers can now give their employees store vouchers […]