Author Archives: Steve Brown - Page 3
Questions and Answers
I’m VAT registered and I have just bought a second-hand vehicle for the business. Is there any VAT I can reclaim on this purchase? If the vehicle you have purchased…
Who’s Wearing What
There is fashion and there is style and Rebecca Lewison-White has brought them together, along with a good dash of fun, at her St. Leonards boutique, Who’s Wearing What. The…
Iain Exley Architect
Up to about 10 years ago, architect Iain Exley was living in London. He then decided to move to Hastings with his wife and children. Part of the reason for…
Filing your tax return early
The bright sunny weather that we have become used to has finally given way to the rainy British summer we all know. With this meteorological change making it more attractive…
Tax Questions and Answers
I work in the building industry, with most of my work being short-term contracts on various sites. Do I need to register as self-employed each time I start a new…
Business Expenses
When you are employed, tax is usually taken on the entirety of your wages. This is not the case for those operating businesses, where the income of the business is…
Taxation of Redundancy Payments
Redundancy is a situation where an employer needs to reduce the size of their work force. When someone loses their job as a result of redundancy, the taxation of the…
VAT Pitfalls
When a VAT registered trader sells goods or services, they will normally have to add VAT to their sales. For most things this will be at the standard rate of…
Auto-enrolment pensions – Re-enrolment requirements
If you own a business with more than one employee, you should already be aware of the requirement to have an automatic enrolment pension scheme. You may think that, once…
Eel and Bear
Steve Brown If you are a fan of craft ale and beer, there is new place in Hastings to satisfy your craving. That place is Eel and Bear. Tucked away…
HMRC Investigations
Even for entirely honest taxpayers, a letter from HMRC saying they are planning to open an enquiry can be a disturbing event. Whilst it will usually be advisable to take…
Tax Questions and Answers
I’m told I will need to make a payment on account in July. What is this? When you receive income from PAYE, tax is deducted from each payment throughout the…
New Power Puts Landlords in HMRC’s Sights
If you are a landlord who has not declared their rental income and are using a letting agent, HM Revenue & Customs (HMRC) could soon be on your trail. That…
Private information on the company register
With the new General Data Protection Regulations (GDPR) coming in, and tales of data being mined on social media in the news, data privacy is more of a concern than…
Tax Questions and Answers
I’ve focussed so much on growing my new business, I haven’t kept up with the tax side of things. Now it’s May 2018 and I still haven’t filed my 2016/17…
New Hands at an Old Firm
Our more alert readers might have noticed a subtle change in my articles of late. Whereas previously I would suggest that you contact me at TaxAssist, the last few issues…
VAT a mess
What links Jaffa Cakes, Pringles and puppies? The answer is that they have all been the subject of court cases to determine their treatment for Value Added Tax (VAT). VAT…
Tax Questions and Answers
What is the Marriage Allowance? The marriage allowance allows you to transfer 10% of your personal allowance to your husband, wife or civil partner. This will reduce the tax bill…
Scamming on the Telephone
I have previously reported in these pages on the various e-mail scams purporting to come from HMRC and other finance bodies. These continue to be an issue and you should…
Spring Statement
This is the first year in which we will only have a single Budget each year, with this year’s set to take place in the autumn. However, this has not…
Changes For Employers
With 6th April 2018 fast approaching, I summarise the key changes that will affect employers in the new tax year. Employment Allowance Most businesses and charities qualify for the Employment…
Tax Questions and Answers
I started my business in the summer. Should I have completed a tax return this January? No, the first tax return you will need to complete is for the year…
Retro Games Night
Tuesday 13th February saw old technology given a new lease of life in the first of a proposed regular retro games night. Taking place in the Grand rue de pera…
Protecting your Business when Customers go into Liquidation
Carillion, the UK’s second largest construction company went into liquidation on 15th January 2018, after running up huge debts of around £ There is no doubt more to emerge on…
No Plastic Shop started in Hastings
With environmental pollution from plastic waste an ever-increasing concern, many are seeking ways to reduce their impact. One such person is Hastings-based Izzy Crouch, who noticed the plastic pollution on…
Brewers back down over pub closure
A community fight to save a favourite pub and social centre has saved The New Inn in Sidley from immediate closure. Formerly owned by Punch Taverns, the New Inn was…
Tax Questions and Answers
By Steve Brown Could you tell me more about these tax-free childcare accounts that are replacing the current childcare voucher scheme please? New tax-free childcare accounts were announced in 2014…
Autumn Budget 2016
Philip Hammond, the new Chancellor of the Exchequer, announced his first Autumn Statement to Parliament on Wednesday 23rd November 2016. Small businesses, which make a huge contribution to the economy,…
Murder in the Belfry
The evil Dr Black has been brutally murdered. With his reputation for going out of his way to upset people, there is no shortage of suspects for this vicious crime.…
You could be at risk of pension penalties
Millions of employers in the UK have been introducing pension schemes to eligible employees since the previous Government introduced its automatic enrolment legislation in 2012. And with the Pensions Regulator…
Tax Questions and Answers
When I submitted my Tax Credits renewal forms, I had to estimate my self-employment income because I had not put my accounts together. I have now completed my accounts and…