income tax Archives - Page 5 of 7

Childcare tax relief

by Georgi Rollings | 24th March 2013 | Directors, Limited company, Sole trader, Women in business

Were you pleased to see the new approach on childcare tax relief? I was delighted back in 2013 to see that the Budget went some way to addressing concerns over the cost of childcare. As a mum of twins I am only too familiar with the high costs of childcare,...

Can you be employed and self employed

by Georgi Rollings | 29th December 2012 | Self assessment, Sole trader, Start ups

I regularly get asked “Can you be employed and self employed at the same time?” The short answer is YES, there is nothing whatsoever to stop you from being both employed and self employed. If you work full or part time for an employer under PAYE (Pay As...

Company director pay strategies

by Georgi Rollings | 6th May 2012 | Company Structure, Corporation tax, Directors, Limited company, Self assessment

Perhaps you set up a limited company to house your small business because somebody told you it was more tax effective? A lot of people running very small businesses do so through a limited company now, instead of as a sole trader. It means more admin, more expense,...

P11D dispensations

by Georgi Rollings | 26th February 2012 | Accounting, Being an employer, Limited company, PAYE

The form P11D is used to provide information on expenses payments and benefits to HM Revenue & Customs. This information has to be given to HMRC by law for each employee or director earning more than £8,500 (UPDATE: this threshold has been removed from 6 April...

Help! I missed the tax return deadline!

by Georgi Rollings | 4th February 2012 | Self assessment, Sole trader, Start ups

The self assessment tax return deadline of 31 January has come and gone – as has the extra 2 days grace thanks to the public sector strikes. If you haven’t filed your tax return – or haven’t paid your taxes – what happens next? Did I...