Archives for Business - Page 5
Work Christmas Party
It’s that time of year where staff look forward to having a Christmas party. Whilst businesses no doubt want to reward their staff for another year of hard work, they…
Queens Road is Buzzing!
Rod Webb catches up with what’s new. Yes, that’s right, quirky independent businesses have now leapfrogged the ‘Morrisons gap’ and are extending up the Queens Road. The area beyond Priory…
Autumn Budget 2018
On 29 October, Philip Hammond gave his autumn Budget speech. With Brexit on the horizon, this was a Budget taking place at a time of uncertainty. Regardless, Mr Hammond claimed…
St Leonards Business Receives Prestigious Award
Local business Plastipack Ltd has been awarded the 2018 Institute of Physics Business Innovation Award for the development of EnergyGuard™ Selective Transmission material in collaboration with the University of Surrey.…
Super-Complaint Launched By Citizens Advice Over Loyalty Penalty
Citizens Advice has revealed customers who stay loyal to their providers are losing out on over £4 billion a year. The national charity has lodged a super-complaint with the Competition…
Tax On Dividends
I run a small limited company with my wife. In previous years we have each taken a small salary then dividends from the remaining profits. This has previously left us…
Beware of Fake Bailiff Fraudsters
Small business owners around the UK are being warned about a telephone scam involving bogus bailiffs claiming thousands of pounds, supposedly arising from unpaid fees for online marketing. The alias…
Questions and Answers
In a brief period of unemployment, I did a little bit of self-employed freelance work. I now have another full-time job. Do I need to report this income? If your…
No Excuse for Lateness
With the pressure of running a business, it is easy to overlook deadlines. As previously mentioned in these pages, the penalties from missing the tax return deadline can be high.…
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…
Holiday rentals
With services like AirBnB making it so easy, I was thinking of renting out my home while I’m away. Will I have to pay tax on that income? There is…
Let Property Campaign
For HM Revenue and Customs (HMRC) undeclared rental income has always been one of the easier fields of tax-evasion to investigate. As they have access to the ownership details recorded…
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…
Sea Kale Cafe: Abseiling Chef Tops Out In St. Leonards
Sea Kale is a small cafe in London Rd near the centre of Opened early this year by Matt and Emma Kennard-Bowen, it’s on the shady side of the street,…
Local Business Group to Give Boost to Hastings Foodbank
This release was submitted by Chris Knott Insurance. A collection of Hastings and St Leonards businesses are securing donations to the local foodbank to help them meet increased demand. Members…
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…
Tax Questions and Answers
When we last moved we were unable to sell the family home, and so have rented it out for some years. With the improving housing market locally, we hope to…
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…
For the record
New vinyl sales topped million in 2017, 10 consecutive years of growth since its near extinction in 2007. In contrast sales of CDs have dropped and downloads have plummeted. Dave…
Don’t Panic – Pier workshop demystifies GDPR
GDPR (General Data Protection regulations) – You have 30 days to comply! – Could have been a dramatic title to this workshop held on Hastings Pier on 25th April, describing…
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…
Taxes through the Ages
Given the historic occasion of our 100th issue, I thought I’d replace the usual accounts and tax advice with something equally historical. Income tax has only been around in the…
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…
Miniature Demon Defeats Mould and Damp
Tanya Eldridge is pint-sized, but makes up for it in her ambition. Her plan is to raise funds to eradicate mould from UK housing. Yes, that’s the whole of the…
More Trains, More Seats, Better Connections
So say Southern as RMT Union prepare to strike again Hugh Sullivan reports In a Which survey published in January this year, Southern Rail was identified as providing the worst…
Warrior Flowers
Opening just before Christmas 2017, there is a new place to buy flowers in central St Leonards. That place is Warrior Flowers, situated opposite Christ Church on London Road. It…