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SME Tax Corner

Tax specialists in Sheffield, Doncaster and Northampton

Input Tax – Beware of the pitfalls!

VAT expert Tony Nickson outlines the pitfalls to avoid when reclaiming input VAT. 1. Reclaims for purchases made before VAT registration It is important to ensure that the maximum amount of input VAT is reclaimed on your business expenditure. This includes...

Making Tax Digital: Government delays introduction

Tax expert Craig Walker comments on the latest twist to the government’s plans for Making Tax Digital (MTD). New timetable Ministers have announced a delay to the roll out of MTD to ensure businesses have more time to adapt to the changes. Implementation...

The Election result: What are the tax implications?

The general election has ended in a hung parliament – the Conservative party have the most seats but do not have an overall majority. Theresa May has announced that she will form a government with the support of the Democratic Unionist Party (DUP). What does this...

Making Tax Digital: An update

What is Making Tax Digital? MTD is the biggest shake-up of the personal tax system in 20 years and will fundamentally change the way taxpayers report to HM Revenue & Customs (HMRC) and keep their business records. Taxpayers will be required to keep records digitally...

Hawsons Hot Pension Planning

As we approach the end of the 2016/17 tax year, there are real opportunities to add value to your overall tax planning process. In the lead up to the 5 April 2017, the payment of contributions to a registered pension scheme can bring many tax advantages, as the...

Spring Budget 2017: Predictions

Philip Hammond will deliver his Spring Budget on 8 March. This will be the first and last ever Spring Budget, as the main tax announcements will be switched to the autumn in future. But what can we expect when the Chancellor delivers his speech next week? Craig...

Making Tax Digital: Full steam ahead

The public consultation on the Making Tax Digital (MTD) project has failed to change HMRC’s plans in any significant way.  The timetable for implementation of MTD remains April 2018 and the income threshold for inclusion in the programme remains at £10,000. What is...

Canny romantics: The tax benefits of marriage

Considering popping the question on Valentine’s Day?  Here we look at some of the tax breaks married couples can benefit from and how it can pay to get hitched. 1. The Marriage Allowance The Marriage Allowance can enable eligible married couples and civil partners to...

The Autumn Statement 2016 predictions

The Autumn Statement 2016 on Wednesday is set to be an important event.  It will be the Chancellor’s first opportunity to outline his plans for taxes & spending in the wake of the Brexit vote. But what tax changes can we expect in the upcoming Autumn Statement?  Craig...

SME tax corner – the good, the bad & the National Living Wage!

Welcome to our fifth edition of the SME tax corner. There have been some big recent changes to a number of taxes that will bring both good and bad news to small businesses and their owners. In this month's SME tax corner, ahead of the 2016 Budget in a few weeks, we...

SME tax corner – the good, the bad & the Autumn Statement

Welcome to our fourth edition of the SME tax corner. In this month’s SME tax corner we look at what’s changed in the world of tax for small businesses. Good: R&D claims made easier for SMEs The recently published government plan to improve access to R&D highlights the...

SME tax corner – the good, the bad & the PAYE!

Welcome to our third edition of the SME tax corner. In this month's SME tax corner we look at what's changed in the world of tax for small businesses. Good: Minimising tax by spreading income around the family Owner-managed companies often seek to minimise the tax...

SME tax corner – the good, the bad & the chance

In this month's SME tax corner we look at what's changed in the world of tax for small businesses. Good: R&D claims from SMEs increase by 23% New figures released by HMRC earlier this month show that since the relief was launched in 2000 over 120,000 claims have been...

SME tax corner – the good, the bad & the kneady!

In this month's SME tax corner we look at the recent Summer Budget and what's changed in the world of tax for small businesses. Tax and the small business – Summer Budget The recent Summer Budget was a bit hit and miss for small businesses. On the whole, though, it...

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Pegasus House, 463a Glossop Road, Sheffield, S10 2QD

5 Sidings Court, White Rose Way, Doncaster, DN4 5NU

Jubilee House, 32 Duncan Close, Moulton Park, Northampton, NN3 6WL

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0114 266 7141

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01302 367 262

Northampton

01604 645 600

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