Archive for November, 2010

VAT Rise January 4th 2011

VAT RATE CHANGE As autumn becomes winter usually it is time to start thinking about how to wrap up for all the cold weather and thoughts about christmas shopping.  However for the past few years the Chancellor has changed the VAT rate to give us another headache, and this winter is no exception! Ready for […]

Contractors take a bow

According to ContractorUK, David Cameron praised the UK’s 1.4million freelance professionals yesterday, for what he called their “massive contribution” to the nation’s economy. The prime minister also commended freelancers for being more courageous than 9-to-5 employees. Mr Cameron said: “I can’t tell you how much admiration I have for people who leave the comfort of […]

It’s VAT Jim, but not as we know it!!

Most people see VAT as the tax that gets added to products and services that makes them that bit more expensive. Often large firms will discount the VAT amount as an incentive for consumers to buy their products –  Sony are using a ‘get the VAT’ back offer on TV’s at the minute (They still […]

Investments & Corporate Structures

Should I hold Investments in my Limited Company? A question we are regularly asked by clients is whether they should transfer their private investments into their Limited Company – Below we consider the implications Tax rates seem to be constantly changing. Back in April the top rate of income tax rate rose to 50%, we […]

The only gift you will get from the Tax Man this Christmas – a tax free Christmas party!

Primus Accountancy are not the first to tell you that Christmas is coming, the Coca Cola advert is already on the TV, the shops are already stacked to the rafters with literally thousands of boxes of chocolates, and TV chefs are already fighting to provide the best most succulent turkey recipes! Well even if you […]

Cycle to Work Scheme Update

Is the Taxman back-pedalling on cycle schemes? Last December the Taxman claimed that some employers were incorrectly using the cycle-to-work scheme to avoid tax and NI. He’s now updated his guidance on this; what’s changed? Conditional tax savings A CTW scheme allows you to loan your employees bicycles without them being treated as a benefit-in-kind. […]

Bank Accounts

You run your own business on a self-employed basis. Until now you’ve just had the one bank account out of which you’ve paid business and personal expenses. Should you separate the two? If you separate the two you will Save bookkeeping time. When you only have one bank account, your business and personal expenses can […]