News
All the latest news on the practice and tax updates to help you stay on top of government requirements.
Creative strategies for businesses approaching the VAT threshold
To avoid exceeding the VAT threshold, businesses can employ strategies like staggering sales, timing purchases strategically, diversifying offerings, utilizing digital platforms, and forming collaborative partnerships. These tactics help manage turnover effectively while ensuring compliance with tax regulations.
What can you offset against your tax return? A guide for salaried taxpayers.
Salaried taxpayers can offset various expenses against their tax returns to reduce their tax liability. Deductible expenses include work-related costs like tools and uniforms, home office expenses if you work from home, travel expenses for business trips, education and training costs related to your job, charitable contributions, retirement contributions, state and local taxes, and certain miscellaneous expenses like tax preparation fees. Keeping thorough records of these expenses is essential, and consulting with a tax professional or using reliable tax software can help ensure you’re taking advantage of all available deductions while staying compliant with tax laws.
Is your accountant claiming your Super-deduction capital allowances?
Having a good accountant can pay dividends.
But with all the new rules and regulations being put in place, is your accountant keeping up?
Since 1st April 2021, companies investing in qualifying new plant and machinery assets have been able to claim a “Super-deduction” capital allowance. Effectively, this is a big tax saving which is worth watching out for when buying big items!
Wishing you a Happy New Year
Thank you to our wonderful clients for a very successful first year since opening. Wishing you all the very best for the year ahead!
The best way for a company to save tax?…R&D CLAIMS!
Research and Development (or R&D) is something which many companies do without realising.
Creating new systems or processes is all a part of R&D, especially if it is something which hasn’t been done before.
HMRC love this, as it contributes to the UK economy. As such, they incentivize R&D by providing significant tax relief and tax credits for companies that do it. This is done in the form of an “R&D claim”.
The tax savvy approach to new business vehicles
How to be tax savvy when buying a new vehicle for your business. Avoid the major pitfall when you get a car or a van and keep your tax bill low!
What salary should I take from my Limited Company?
It’s a question often asked by many a director; “What salary should I take from my company?” Find out what salary is best for you!
June 2021 Newsletter
Find out the latest news from the office, such as our affiliate programme, top tips for saving tax and our latest marketing activities.
How do we add value to our clients?
Here are the top 7 ways we add value for our clients... 1. Spotting opportunities and threats – a proactive approach Unfortunately, this is not something your average accountant does. Sure, they will say they do, they will say all he right words to impress you, but...
Feedback from our accountancy clients | Xoba
It’s always helpful to get feedback from our accountancy clients. It lets us know where we add value and where we need to make improvements to our services.