Making a limited company dormant – What to look out for

Many contractors choose to close their limited companies completely when they have no intention of returning to contracting. But for those who are just considering a short break away from their limited company, making it dormant may be the better option. This will allow you to reserve your company name, brand and trademark until you return to your operations. However, making your limited company…

Making Tax Digital pilot is now open to all self-employed UK taxpayers

Join the government’s pilot and start sending regular income tax updates through HMRC’s Making Tax Digital system, if you’re self-employed. The tax authority’s Making Tax Digital (MTD) system will be rolled out in 2020, and last year a limited pilot program was launched to test the new digital system that will require businesses to report taxes digitally. The pilot has now been extended to all…

Spring Statement: Businesses encouraged to complete VAT threshold survey

Last week Chancellor Philip Hammond delivered the 2018 Spring Statement to the House of Commons and announced a call for evidence to explore the effect of the VAT threshold on small businesses. So if you’re running a small business, the Treasury wants to hear from you about how the current VAT threshold affects you, and how they could change its design to encourage your business to grow. What’s…

What GDPR will mean for your doctor’s practice

The compliance deadline for the General Data Protection Regulation (GDPR) is fast approaching and have you been planning ahead to make your doctor’s practice GDRP compliant? The regulation that will be enforced on 25 May aims to strengthen and unify data protection for individuals within the EU and address the export of personal data outside the EU. This is a good thing – citizens will…

Shared practices, shared expenses, specialist accountants

The healthcare industry is constantly changing but expense sharing is still an existing arrangement among dentists who’d like to have their own practice but share the every-day costs of running it. The idea is that you team up, so to say, with other dentists and sign a form of expense sharing agreement binding you to sharing the space, the administration costs, staff, equipment, and rent but…

Buy-to-Let Landlords: Four Reasons to Hire a Specialist Accountant

The changing landscape of buy-to-let regulation demands specialist attention this year. Landlords are beginning to feel the effects of the government’s cut in mortgage tax relief and the abolition of wear and tear allowance while lending criteria around mortgages are stricter than in past years and interest rates are rising. 2018 is no doubt a confusing time for those investing in the private…

An accountant a day keeps a doctor in business

As a doctor, running your practice is like running a business: you have tax responsibilities and accounts that need to be managed. In many cases, you may be running your practice in partnership with other doctors. This can create added confusion and stress when it comes to who is responsible for the financial aspects of your practice. Working with a dedicated and knowledgeable accountancy team…

Get your specialist financial advice with TaxAgility

Whether you have your own business or you’re just a tax-paying individual, managing your finances, including your taxes, is often a time consuming and challenging chore. What you need is a chartered accountant who understands your finances and who can offer a specialist financial advice service that will help to make your life easier. What can TaxAgility provide? At TaxAgility, our main aim is to…

Building a better business with TaxAgility

TaxAgility are Accountants with a difference. As well as offering an accounting service where we can manage your accounts, tax returns and book keeping, we also provide assistance regarding better business growth. Ultimately, we want your business to succeed and we can work with you to give you the tools and techniques you need to develop. A better business for you Our better business advice…

Should you make the move to contracting?

From experiencing financial benefits to having a more flexible working day, setting up as an independent contractor could be the best decision for you. However, before you make the move, here are some things you should consider: What skills do I have? Setting up as a contractor means that you will be relying predominantly on the skills you’ve built up over the years. A current and…