The VAT Flat Rate Scheme is welcomed by many small business owners because it simplifies the record keeping and calculation requirements associated with their quarterly VAT bill.
Although the VAT Flat Rate Scheme will continue, as of 1st April, HMRC is introducing a new system which will increase the amount of VAT payable by many businesses using that scheme.
HMRC defines a […]
It’s very hard to find and keep good employees. Therefore, you might be looking for ways to surprise your team.
Luckily, two planning opportunities are currently available to surprise your team in a tax-efficient manner.
Tax exemption for trivial benefits in kind
Most employees would be pleasantly surprised to receive a bottle of wine, tickets to a football match or the cinema, or […]
If you receive rental income from residential property you are required to pay income tax on the profit you make.
Your profit is added to your other income to determine how much income tax you pay.
In order to arrive at your taxable profit, you are allowed to deduct qualifying revenue expenses (day-to-day running costs) and tax allowances. Recent change in one […]
There are a number of reasons why you (or a close family member) might take a loan from your company. Whether you need to bridge a personal cash shortfall, fund a house deposit, or purchase a car, you must ensure this cash advance has been planned accordingly, otherwise you could end up facing a larger than expected tax bill.
All loans […]
Tax is a highly sensitive subject for most individuals. In this guide, we consider a number of tax planning and wealth strategies.
ad+ can show you how to improve your financial position and structure your affairs so that you don’t have to pay more tax than you legally have to.
The tax clock is ticking – is it time to […]
Are you aware that there is a fundamental change in the way your tax will be calculated in the future?
George Osbornes planned reforms could mean that a typical landlord who historically had no tax to pay on property letting profits will be left with annual taxation liabilities running into £000’s.
Previously landlords were able to claim allowable interest relief on their […]
…and how can you ensure your business survives?
Many Scottish business owners are considering refurbishing their premises, and so the ad+ tax team is often asked for advice on what expenditure will be eligible for tax relief?
Get the right advice
ad+ has helped many business owners with all aspects of tax relief claims. Refurbishments can disrupt normal working arrangements within your business, […]
If you’re self-employed, you probably know that you can claim legitimate business expenses and set them against your tax bill – but not all expenses qualify so it’s important to make sure your claim is valid. At ad+ we can help.
For example, unless something that you buy for your business is a capital asset, a computer or machinery (which you […]
Many people in Glasgow and Lanarkshire do not yet fully understand the significance of the new retirement income choices. At ad+ we often find that even some experienced business owners do not appreciate the significance of the changes available for retirement income from 6th April 2015.
According to a recent ‘Real Retirement’ survey (full sources and references below) by Aviva more […]
No taxpayer is immune from HMRC investigations, no matter how good your records are. HMRC investigations can be worrying, stressful, and intrusive. Investigations are usually costly because you will require extensive professional advice.
ad+ insulates its clients from the unplanned fees caused by an HMRC investigation because Premier Protection is a condition of appointing ad+. Premier Protection is a tax investigation […]