From Sole Trader to a Limited Company

What to expect from incorporating your business

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Tax Newsletter - April 2018

  • Tax system reform
  • Self-employed numbers increase
  • GDPR shake-up
  • Apprentice success

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Spring Statement 2018

Chancellor Philip Hammond focused on updated economic forecasts in his Spring Statement 2018 and also on a number of policy consultations which may feed into the Autumn Budget.

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Tax and Employee Benefits

What to expect when providing staff with perks.

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Tax Newsletter - March 2018

  • Auto-enrolment - one million firms comply
  • Record exports for Food & Drink companies
  • Tax Payers reclaim £493 million from HMRC
  • Fines for missing tax return deadline

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Tax Rates & Allowances 2018-19

 Tax Rates, Allowances and Thresholds for Personal and Company Taxation in 2018-19

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Year End Tax Guide 2017-18

A guide to making the most of tax reliefs and tax exemptions before the end of the current tax year.

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Giving to Charity in Life and Death

How to include charitable donations in your tax planning strategy.

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HMRC Investigations

What to expect when the Revenue comes knocking.

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Tax Newsletter - January 2018

  • Disincorporation Relief Ends March 2018
  • Skills Gap for Small Businesses
  • HMRC Stops Use of Personal Credit Cards
  • Number of Businesses Soar

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Online Self-Assessment

How to complete your Self-Assessment Tax Return online

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Accounts for Limited Companies

While small companies may no longer have to be audited, annual reports are still required by law and failure to submit them can result in severe penalties.

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Tax Newsletter - December 2017

  • Autumn Budget 2017 Round-up
  • VAT frozen to 2020
  • R&D Tax Credit Claims Record High

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Budget 2017

Summary of Chancellor Philip Hammond's Budget 2017

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Measuring Business Performance

What are the best ways to assess your firm's performance?

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Patent Box Regime Explained

Reducing Corporation Tax due on Patent Income

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Tax Newsletter - November 2017

  • National Living Wage - Under 25s push for equality
  • SMEs hit by Slow Payers
  • Businesses Delay Investment
  • Baffling Apprenticeship Levy

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VAT and Three-Party Transactions

A guide to the VAT implications of having three entities involved in a transaction.

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Managing Automatic Re-Enrolment

Once you have been running Auto-Enrolment for 3 three years, you will need to re-enrol employees.

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Tax Newsletter - October 2017

  • Paper Tax Return Deadline Reminder
  • Buy-to-Let Regulations Fuel Rent Rises
  • Sole Traders exposed to Cash Crises
  • Finance Bill 2017-19 Round-Up

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Tax Newsletter - September 2017

Read our latest round-up of tax and accounting news relating to businesses.

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Payroll Issues for Employers

Employers need to keep an eye on changes affecting payroll so all employees have the right amount of tax deducted under PAYE.

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The Family Home Allowance

As of 6 April 2017, when an individual dies their estate will qualify for the family home allowance if the deceased owned a home, or a share of one, that is included in their estate and left to their 'direct descendants'.

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Making Tax Digital - A Guide

Ensuring a smooth digital transition for your business.

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Tax Changes - Buy-to-let Property

A guide for individual landlords on the recent tax changes.

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Accountancy and Tax Newsletter - August 2017

Latest Accountancy and Tax News - August 2017


  • Sick Pay - most valued benefit for self-employed
  • Lack of Funds holding back Start-Ups
  • Changes to People with Significant Control (PSC) Register
  • Prompt Payment Code

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Salary or Dividend

As an owner and director of a company, you can decide how and when to extract funds from your company.  The tax you pay will depend on how your payment is categorised e.g. salary, dividend, interest, rent or loan.

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Retirement Planning

Whatever your age, it's never to late to start saving to retire.

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Tax Newsletter - July 2017

  • HMRC urged to extend executors' inheritance tax deadline
  • Rejecting contracts - SMEs hit in the pocked
  • Reminder - 2nd Payment on Account
  • Data Protection changes on the way

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Capital Gains Tax Planning

A guide to Capital Gains Tax and the reliefs available for 2017/18

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Lifetime ISAs

Incorporating the Lifetime ISA into your savings strategy

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Tax Newsletter - June 2017

  • Expenses/benefits not payrolled for 2016/17 tax year need to be reported to HMRC by 6th July 2017
  • Employers back Employment Law Rights
  • Businesses look to offset rising costs
  • Working beyond 65

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Tax Newsletter - May 2017

  • Gender Pay Gap Reporting
  • Digital Skills Shortage
  • ISA Rules Misunderstood
  • IR35 Changes

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We are recruiting - Trainee Chartered Accountant

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Employee Benefits

A guide for employees on the tax implications of accepting common employee benefits

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2017/18 Tax Card

Key tax rates and thresholds for personal and company taxation in 2017/18

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Improving Cashflow

A guide to maintaining a healthy balance between money coming in and out of your business.

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Tax Newsletter - April 2017

  • Lack of finance preventing business opportunities
  • National Minimum & Living Wage Rises from 1st April
  • New Tax Year Begins - important dates & changes to watch out for...

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Tax Residence & Domicile

Generally, you are taxed by the country where you are 'tax resident'.  Read our guide to the rules affecting individuals and why they matter.

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Spring Budget 2017

  • Making Tax Digital - quarterly reporting delayed for 1 year
  • T-Levels - new qualification for technical education
  • R&D Tax Credits - moves to lower administrative burden
  • Self-employed NICs - rise to 11% by April 2019
  • Tax-Free Dividend Allowance - reduces to £2,000 from April 2018
  • New Tax Avoidance measures
  • Soft Drinks Levy introduction

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Trusts & Tax Planning

Our guide to the relationship between Trusts and Tax:

  • Income tax liability, expenses, reliefs and allowances
  • Working out Capital Gains Tax liability
  • Inheritance Tax

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Tax & Accountancy Newsletter - March 2017

  • Firms preparing for 'Making Tax Digital'
  • Working pensioners driving up retirement income
  • Late payment regulations for large companies - support for SMEs
  • Paying the Apprenticeship Levy

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R&D Tax Credits

Our guide to the tax relief available to innovative SMEs

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February 2016 Accountancy Newsletter

  • SME borrowing set to rise in 2017
  • Retired Income up by 13% since 2008
  • Financial concerns affecting worker performance
  • Small firms pay above minimum pension contribution

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Year End Tax Guide 2016-17

Daly Park's Year End Tax Guide for 2016-17 provides many useful tax planning suggestions for organising your finances as tax-efficiently as possible in the run up to the end of the tax year on 5th April 2017.

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Business Finance

Our guide outlines the most common sources of finance used by small businesses in the UK for start-ups and for expanding operations.  We can help you target the right type of finance for your needs.

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Defined Contribution Pensions & Tax

While most people know the tax efficiency of paying into a pension, what is often not clear is how much the taxman is entitled to once you start accessing your pension pot.

Read our guide to find out more about the 'pension freedoms' initiated by George Osborne allowing greater flexibility in what you can do with your pension savings.  

For more detailed advice on retirement planning please get in touch with your Daly Park Accountant.

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January 2017 Newsletter

  • Self-Assessment reminder
  • Tax & Finance changes for 2017
  • Changes to VAT Flat Rate Scheme

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Self Assessment Tax Return

HMRC uses self-assessment to collect tax from individuals who run their own businesses or if they receive income that is not taxed through PAYE.  Find out more about how and when to complete your self-assessment tax return. 

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December 2016 Newsletter

December's Newsletter includes topics such as:

  • Alternative finance routes for small businesses
  • Update on Business Rates
  • £17 billion to be saved in Workplace Pensions by 2020
  • Round-up of the Autumn Statement

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Autumn Statement 2016

Read our summary of Philip Hammond's first Autumn Statement, which will also be his last Autumn Statement as he announced that following the Spring 2017 Budget, the Budget will move to the Autumn period.

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Starting a Business

With an estimated 55% of new businesses failing within 5 years, it is important that you do the groundwork before starting out on the path of business ownership.  

Read our guide for more details, for example, testing your business idea and market research, writing a business plan, business structures.

Daly Park has many years of experience advising and assisting in business start-ups so give us a call.

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November 2016 Newsletter

  • Projected economic effects of George Osborne's pension reforms
  • UK businesses lacking export ambitions
  • Flexible working across the salary spectrum
  • Looking ahead to the 2016 Autumn Statement from Philip Hammond

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Xero Online Accounting Software

Easy to use, smart, flexible and secure - your financial affairs accessible at the click of a button, in the office or at the coffee shop, on any internet-enabled device.  Read on for the Key Benefits...

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Rewarding Your Staff

A guide to rewarding your staff and the tax treatment of employee benefits.

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VAT - After Brexit

How will Brexit affect UK VAT?  Our VAT After Brexit newsletter takes a look at how the UK VAT rules may change once the UK leaves the EU - the ability to change the standard VAT rate, introduce different VAT rates for different services and industries, the end of VAT MOSS for digital services traders.

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October 2016 Newsletter

  • Businesses paid £44.4 billion in Corporation Tax in 2015/16, an increase of 3% on the previous year and the highest since 2007/08.
  • EU Employees and their residency status uncertainty.
  • The Government's tax-free childcare scheme is due to launch in early 2017.
  • 31st October 2016 - deadline to submit any Self-Assessment paper tax returns for the 2015/16 tax year.

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September 2016 Newsletter

  • Government funding for Apprenticeship training costs
  • Property wealth exceeds Savings & Pensions
  • New National Minimum Wage Rates - 1st October 2016
  • IHT receipts up by 22%

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Personal Financial Planning

Financial Planning is an organic process which evolves over time.  Putting a personal financial plan in place enables you to focus and organise your finances so that you can utilise them effectively.  It is not set in stone and should updated to reflect changes in your circumstances and priorities.

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National Insurance Planning

An overview of the different types of National Insurance and advice on how to make sure you are not paying too much.

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Audits and Keeping Accounts

A guide to keeping accounts and how an audit can benefit your business.


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Gift Strategies for Inheritance Tax Planning

Gifting can reduce your liability for inheritance tax.

Transfering assets out of your estate in order to minimise IHT can risk financial stability. Ensuring that you are financially secure, particularly in retirement, should be a priority.

Once you have made the gift you no longer have control over the asset in question, so think carefully about the implications before making a decision.

Contact us today to talk about IHT planning.

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August 2016 Newsletter

  • Challenging business rates
  • Part-timers driving self-employment growth
  • 500,000 open 'Help to Buy' ISAs
  • Small business chasing payments

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Tax and Accountancy Newsletter - July 2016

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Extracting Profits from your Business

A guide to tax-efficient profit extraction for business owners.

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Lifetime ISAs

Launching on 6th April 2017, the Lifetime ISA is designed to provide a tax-efficient option for people saving for a first home or retirement.  Find out more about how this will work by reading our Guide to Lifetime ISAs .

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Capital Gains Tax Planning

A guide to Capital Gains Tax and Allowances for 2016/17.

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Auto-Enrolment For Businesses

A guide to staying compliant with auto-enrolment.

Should you need help implementing auto-enrolment within your business, you can contact Aine O'Hagan at our Lurgan office for assistance and advice.

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Tax and Accountancy Newsletter - June 2016

  • Significant Control Register - Legal Requirement
  • Buy-To-Let Activity Eases
  • How To Trace Lost Pension Pots
  • Digital Divide Growing Between Businesses

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Accountancy & Tax Newsletter - May 2016

  • Charities unaware of reporting obligations
  • Employer NICs for apprentices abolished
  • Changes to Capital Gains Tax for 2016/17
  • Lifetime ISAs

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Running a Company Car Scheme

A guide to setting up a company car scheme and the tax implications of doing so.

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Estate Planning

A guide to making sure that your estate goes to the right people when you die.

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Personal Tax Planning

A guide to reducing an individual's tax liability.

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Succession Planning for a Family Business

Succession planning is a complicated area of business and tax planning.  Starting these conversations early can make sure you and your family are in the best possible position.  Get in touch to discuss your succession and tax planning needs.

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Accountancy & Tax Newsletter - April 2016

  • Lack of management skills limit business growth
  • 150,000 secure home ownership from Help to Buy
  • National living wage - employer responsibilities
  • Business announcements from Budget 2016

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Tax and Legal Implications of Residence and Domicile

The rules surrounding residency and domicile can get complex but making sure you get your status right is important as it will have a big effect on whether you need to pay tax.  We can help you with this area of tax and ensure you remain tax compliant with the current system and any future changes.

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What's the most tax-efficient way to pay yourself?

Salary or Dividend?  Read our bulletin...

Changes to dividend rules from April 2016 means owner-managers and contractors should take a look at how they pay themselves.  We can advise you on the most suitable and tax-efficient way.

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March 2016 Accountancy & Tax Newsletter

  • Pension freedom barriers to be removed
  • Government productivity plan lacks focus
  • Self-employed workforce continues to grow
  • Real test for auto-enrolment ahead

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Year End Tax Guide 2015/16

With the 2015/16 tax year coming to a close on 5th April, you can plan ahead by reading our guide's planning tips for Personal and Corporate taxes, allowances and reliefs.

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February 2016 Accountancy Newsletter

  • Digital Tax Accounts to Replace Annual Tax Return
  • Early Pension Exit Fees Capped
  • Lack of Flexible Working Hampers Employers

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Travel & Subsistence: A Changing Framework

The system of employee benefits and taxes for those who travel for the purposes of work is undergoing change.

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Minimising Corporation Tax

Strategies available to companies to minimise their corporation tax bill

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January 2016 Accountancy Newsletter

  • Preparing for the National Living Wage
  • Help to Buy ISAs
  • A guide to the new State Pension
  • Finance Bill 2016 passes through Parliament

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Choosing a Business Structure

An introduction to the most common types of businesses: sole traders, limited companies and partnerships.

Download PDF File (176KB)


Retirement Planning

An introduction to using your resources to ensure you get the retirement you want.  For a more detailed discussion get in contact with your accountant at Daly Park or our Tax Specialist, Shane O'Dowd.

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Minimising Inheritance Tax

A guide to the changes to the Inheritance Tax nil-rate band and strategies to reduce your liability

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An Introduction to Self Assessment

The what, when, how and why of completing your Self Assessed tax return

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December 2015 Accountancy Newsletter

  • Higher stamp duty rates for Buy-To-Let property
  • Women unsure about pension savings
  • Consumer confidence rises despite economy
  • Auto-enrolment dangers

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Autumn Statement 2015

Summary of George Osborne's Autumn Statement

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November 2015 Newsletter

  • Private sector businesses hit record number
  • Workplace productivity remains a puzzle
  • UK R&D spending lowest in the G8
  • Stress-related absences increase

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Property and Tax

A guide to tax when buying, renting out and selling property

Download PDF File (593KB)


Choosing An Employee Share Scheme

A guide the advantages, problems and types of share schemes for employees

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Rewarding Your Staff

Some of the different ways employers can reward their staff and the tax implications of each approach

Download PDF File (260KB)


Running A Payroll

This guide looks at some of the common payroll problems and what to consider when choosing payroll software.

Download PDF File (176KB)


October 2015 Newsletter

  • Minimum Wage Increases
  • Spreadsheet Errors - Major Business Risk
  • 'Travelling to Work' - EC Ruling
  • Pension 'Top Up' Introduced

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HMRC Tax Investigations

A guide to what to expect  if you are the subject of a tax investigation by HMRC

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Understanding Dividends

A guide to how dividend taxation will change from April 2016

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September 2015 Newsletter

  • HMRC to introduce digital tax accounts for all
  • Consumer Ombudsman to change complaints procedure
  • Your Money: Pension scams put savings at risk

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Accounting for Change: Audits & Annual Accounts

We look at the accounts that companies need to keep

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Making the most of your savings

A guide on how to use your savings to improve your financial position

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August 2015 Newsletter

Government publishes productivity strategy

Entrepreneurs' Relief changes affect family businesses

Small firms gear up for Auto-Enrolment

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July 2015 Tax Card

View our latest Tax Card following the Summer Budget 2015

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Summer Budget Report 2015

In his seventh Budget Statement as chancellor, George Osborne promised a 'big budget for a country with big ambitions'.

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Financing your business: What are the alternatives?

A guide to alternative business finance

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UK GAAP: A practical guide to making the transition

A guide to the new accounting standards

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July 2015 Newsletter

New holiday pay rules; Flexible working; Copyright theft

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2015 June Newsletter

Deregulation tops small firms' priority list
Business Planning overlooked by SMEs

Small businesses unprepared for digital attacks

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Improving Cashflow

A guide to improving cashflow and tackling late payment

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Auto-enrolment: infrequently asked questions

A guide to the finer points of auto-enrolment

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Setting Targets & Forecasting - Business Update

A guide to choosing, measuring and using targets in your business

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Estate Planning - Personal Planning Update

An overview of things to consider when planning how to pass on your wealth

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2015 May Newsletter

In May's issue we look at the Annual Investment Allowance for businesses, PAYE Auto-Enrolment Exemptions, the Small Business Act and how savers are diversifying to fund their retirement

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2015 April Newsletter

In this months issue we look at boosting Small business productivity, making use of equity finance and how the new pension reforms may affect you.

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Tax Card 2015 - 2016

Information about Tax rates for 2015 - 2016

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2015 Budget Report

Chancellor George Osborne used his final Budget statement of this Parliament to announce that “Britain is walking tall again”.

The report summarises the announcements made by Chancellor George Osborne during the 2015 Budget on Wednesday.

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Travel & Subsistence Update March 2015

Our Business guide this month looks at employee benefits relating to travel and how they relate to the taxes that a business is liable for.

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Personal Tax Planning Update March 2015

This guide looks at tax planning for individuals including available reliefs, allowances and exemptions

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2015 March Newsletter

In this month's Accountancy Newsletter we discuss Compliance Costs for SMEs. While numbers of small firms hit record highs, businesses are increasingly looking towards alternative sources of finance including P2P and Crowdfunding. We also have some very useful year end tax tips covering income tax, Capital Gains tax, Inheritance tax and pension contributions.

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Fax: 028 9024 5500

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