Tax and your Work Christmas Party
How to reward your team in a tax-efficient way.
Over 11 million taxpayers filed a self-assessment return for the 2021/22 tax year, and this number is likely to rise for 2022/23. As such, it is essential to understand your reporting obligations. Here are some of the main aspects to be aware of this self-assessment season.
Autumn Statement 2023
Tax Card for 2023-24
Updated information for the 2023-24 tax year
Self Assessment Tax Returns
Get a head start on your self-assessment tax return
Hiring Staff for the first time
First-time Employers - read our guide for business owners planning to hire staff
Autumn Budget 2021
The Chancellor resisted the urge to raise taxes in order to start paying off the Covid-19 emergency support schemes which kept many businesses afloat during the pandemic.
2020-21 Tax Returns and SEISS Grants
Don't forget you will have to report any SEISS grants received during the 2020/21 tax year on your Self-Assessment Income Tax Return due by 31st January 2022.
Tax Planning for Residential Landlords
Pros and Cons of a Company Electric Car
Costs you can reclaim on your business
For the Self-Employed: Allowable Expenses and Allowances in 2021/22.
The Basics of VAT
An introduction to VAT, the main business tax.
Spring Budget 2020
Key tax announcements from the Spring Budget 2020
HMRC updates tax guidance for digital currencies.
Employer Issues with Auto-Enrolment
A headache for Employers
Tracing Lost Pension Plans
Billions of pounds lost in unclaimed funds.
Low-Risk Ways to Start a Business
Methods to overcome uncertainty in 2020.
Gearing up for Self-Assessment
With only two months left until the 31st January deadline for online returns, self-assessment is very much on our minds.
Tax Newsletter - November 2019
Protecting a Business from Fraud
Steps to shield your business from threats.
Capital Gains Tax Planning
Tax changes to private residences for 2020/21.
Contractors - IR35 in the Private Sector
Key considerations for contractors before April 2020.
Property as Investment
Property as an investment for landlords.
The Numerous Quirks and Foibles of VAT
Insight into VAT's barnacles of complexity.
Residence & Domicile
How your status affects how much UK tax you pay.
Flow Chart - VAT Reverse Charge for Construction Services
For Subcontractors - this flow chart may help you to decide whether the Domestic Reverse Charge for VAT applies to you.
VAT Reverse Charge for Construction Services
Coming into effect on 1st October 2020, the Domestic Reverse Charge for VAT will be a massive change to the way VAT is collected and accounted for in the building and construction industry.
Tax Newsletter - September 2019
Saving for your Retirement
Are you on track for a comfortable retirement?
Construction Industry Scheme
Upcoming changes for Reverse Charge VAT
The Tapered Annual Pension Allowance
How it affects the high net-worth individual.
Identifying Inefficiencies in a Business
Avoiding waste to maximise profit.
Tax Implications of Working from Home
Advice for contractors and the self-employed.
The Scourge of Late Payments
How late payments compromise cashflow.
Tax Newsletter - May 2019
Risk Assessment & Contingency Planning
How to minimise disruption to your business.
Accounting for Charities
An overview of accountancy issues in the third sector.
Registering for Making Tax Digital for VAT
If you are VAT-registered, with a turnover of over £85,000, you must now keep records in digital form and file VAT returns using HMRC-approved software.
Personal Tax Planning
With the new Tax Year starting on 6th April, it's time to take a look at your Personal Tax Planning for 2019-20.
Spring Statement 2019
Summary of the Chancellor's low-key Spring Statement amidst current Brexit chaos.
The politics of tax breaks
How did we end up with such a complex system of tax reliefs?
Preparing businesses for leaving the EU
What can your firm do before 29th March 2019?
Changes to Probate in 2019
Controversial fee increase set to take place from April 2019.
The Risks of a Tax Investigation
Will HMRC come knocking on your door?
Year End Tax Guide for 2018-19
Make the most of Tax Reliefs and Tax Exemptions by some careful Tax Planning in advance of the end of the current tax year on 5th April 2019. Our Year End Tax Guide gives you some valuable tips but do get in touch with us on (028)3026 7715 for relevant tax advice for your individual specific circumstances.
National Insurance Planning
Obligations and opportunities
Evaluating your business' payroll needs.
Tax Newsletter for December 2018
Latest tax and accountancy news for December
Planning your estate - Wills
How to plan and make a legally valid will.
Completing your Self-Assessment Tax Return
What you need to know before filing self-assessment for 2017-18
Deregistering from VAT
When and how to deregister from VAT
Starting a New Business
Things to do before launching a startup
Tax Newsletter - November 2018
Budget Summary Report 2018
Is austerity finally coming to an end?
Business Financing - Using Your Pension
How your pension savings can help finance your business
Extracting Profits from a Business
Tax implications of extracting profits from a Business
October Tax Newsletter
Catch up on the latest Tax news to affect your business and personal life.
Tax Newsletter - September 2018
Catch up on the latest Tax news affecting your business and your personal life.
The Marriage Allowance Explained
How to make this tax break work for you.
Capital Gains Tax Planning
How can you reduce your Capital Gains Tax bill in 2018/19?
Tax Newsletter - August 2018
Tax Newsletter - July 2018
As a contractor, freelancer or small business, it is important to be aware of and understand IR35. You should determine your IR35 status to ascertain your tax position and ensure that you are paying the correct amount of Tax and National Insurance. Read our IR35 guide for more information and give us a call if you need assistance.
Travel and Subsistence Guide
As an employer - your obligations for reporting travel expenses to HMRC
June 2018 Tax Newsletter
Tax and accountancy related articles this month include:
Personal Tax Planning
Nobody wants the taxman to take more than his fair share - planning your finances early can allow for a more tax-efficient strategy for the months and years ahead.
Tax Newsletter - May 2018
Clipping the wings of Phoenix companies
Rules surrounding carrying on a similar business through a new company after the original company has gone into insolvency
From Sole Trader to a Limited Company
What to expect from incorporating your business
Tax Rates & Allowances 2018-19
Tax Rates, Allowances and Thresholds for Personal and Company Taxation in 2018-19
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.
Giving to Charity in Life and Death
How to include charitable donations in your tax planning strategy.
What to expect when the Revenue comes knocking.
How to complete your Self-Assessment Tax Return online
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.
Tax Newsletter - December 2017
Summary of Chancellor Philip Hammond's Budget 2017
Measuring Business Performance
What are the best ways to assess your firm's performance?
Patent Box Regime Explained
Reducing Corporation Tax due on Patent Income
VAT and Three-Party Transactions
A guide to the VAT implications of having three entities involved in a transaction.
Managing Automatic Re-Enrolment
Once you have been running Auto-Enrolment for 3 three years, you will need to re-enrol employees.
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.
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'.
Making Tax Digital - A Guide
Ensuring a smooth digital transition for your business.
Tax Changes - Buy-to-let Property
A guide for individual landlords on the recent tax changes.
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.
Whatever your age, it's never to late to start saving to retire.
Capital Gains Tax Planning
A guide to Capital Gains Tax and the reliefs available for 2017/18
Incorporating the Lifetime ISA into your savings strategy
A guide for employees on the tax implications of accepting common employee benefits
2017/18 Tax Card
Key tax rates and thresholds for personal and company taxation in 2017/18
A guide to maintaining a healthy balance between money coming in and out of your business.
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.
Spring Budget 2017
Trusts & Tax Planning
Our guide to the relationship between Trusts and Tax:
R&D Tax Credits
Our guide to the tax relief available to innovative SMEs
February 2016 Accountancy Newsletter
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.
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.
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.
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.
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.
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.
November 2016 Newsletter
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...
Rewarding Your Staff
A guide to rewarding your staff and the tax treatment of employee benefits.
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.
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.
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.
Audits and Keeping Accounts
A guide to keeping accounts and how an audit can benefit your business.
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.
Extracting Profits from your Business
A guide to tax-efficient profit extraction for business owners.
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 .
Capital Gains Tax Planning
A guide to Capital Gains Tax and Allowances for 2016/17.
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.
Running a Company Car Scheme
A guide to setting up a company car scheme and the tax implications of doing so.
A guide to making sure that your estate goes to the right people when you die.
Travel & Subsistence: A Changing Framework
The system of employee benefits and taxes for those who travel for the purposes of work is undergoing change.
Minimising Corporation Tax
Strategies available to companies to minimise their corporation tax bill
Choosing a Business Structure
An introduction to the most common types of businesses: sole traders, limited companies and partnerships.
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.
Minimising Inheritance Tax
A guide to the changes to the Inheritance Tax nil-rate band and strategies to reduce your liability
An Introduction to Self Assessment
The what, when, how and why of completing your Self Assessed tax return
Property and Tax
A guide to tax when buying, renting out and selling property
Choosing An Employee Share Scheme
A guide the advantages, problems and types of share schemes for employees
Rewarding Your Staff
Some of the different ways employers can reward their staff and the tax implications of each approach
Running A Payroll
This guide looks at some of the common payroll problems and what to consider when choosing payroll software.
HMRC Tax Investigations
A guide to what to expect if you are the subject of a tax investigation by HMRC
A guide to how dividend taxation will change from April 2016
Accounting for Change: Audits & Annual Accounts
We look at the accounts that companies need to keep
Making the most of your savings
A guide on how to use your savings to improve your financial position
Summer Budget Report 2015
In his seventh Budget Statement as chancellor, George Osborne promised a 'big budget for a country with big ambitions'.
Financing your business: What are the alternatives?
A guide to alternative business finance
UK GAAP: A practical guide to making the transition
A guide to the new accounting standards
A guide to improving cashflow and tackling late payment
Auto-enrolment: infrequently asked questions
A guide to the finer points of auto-enrolment
Setting Targets & Forecasting - Business Update
A guide to choosing, measuring and using targets in your business
Estate Planning - Personal Planning Update
An overview of things to consider when planning how to pass on your wealth
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.
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.
Personal Tax Planning Update March 2015
This guide looks at tax planning for individuals including available reliefs, allowances and exemptions