Why Hire an Accountant

We know what you’re thinking — you’ve been told time and time again you should hire an accountant to look out for the financial success of your new business, but you ask yourself; do I really need somebody else on hand, looking through my books — can’t I just do it myself? In truth, yes you can. It may seem counterintuitive for us to say, but if you’re a very small, recently formed business, you…

The Ins and Outs of VAT

TaxAgility pride ourselves on being experts in the field of chartered accountancy, and specialists in advising and guiding start-up companies in the world of business. VAT services Whether you have a start-up company or a well-established business, meeting your VAT responsibilities are important. Dealing with VAT can sometimes be difficult, and its confusing nature can often lead to over- or…

Understanding business tax

Tax is an unavoidable fact of life, especially if you are a business. For business owners, understanding what types of tax affects them, how much they should be paying, managing finances for tax and more can be very stressful to do alone. TaxAgility are a team of accountants who specialise in business tax for small to medium sized businesses in London. We have worked with many businesses in the…

Personal tax accountants for you

If you find yourselves, head in hands, trying to manage your personal accounts and bookkeeping and understand terms and deadlines, then it is time to call TaxAgility. Our Accountants will calculate the amount of your tax liability and chart a payment plan aligned with your cash flow. We can also file your return for you, once you have given us your approval. A key part of tax service is actually…

Protect your business from ransomware

The latest ransomware attack which infects more than 300,000 computers in organisations across 150 countries, including the NHS in England, has left people worried about their work and personal computers now. Are you at risk? Let’s briefly mention what ransomware is – it’s a computer virus which encrypts your files (documents, videos, photos, databases) and won’t release them unless you pay a…

HMRC Trialling New Making Tax Digital Scheme

As most businesses should be aware of by now, HMRC’s new ‘Making Tax Digital’ (MTD) initiative is due to begin in April 2018, where companies are required to report tax digitally each quarter. At the beginning of this month, HMRC began a pilot program to test out this new digital system. The pilot involves some businesses and agents that have been invited by HMRC to sign up for the trial. It is…

Tax Saving Tip for the Self-Employed, Part II

Last week we received good feedback for our article on reducing the tax bill for contractors and self-employed individuals through tax free allowance and not paying your National Insurance once you have reached the retirement age. This is why we want to continue the theme this week and explore other legal and honest ways to reduce your tax bill. Home expenses Many contractors and self-employed…

Tax Saving Tip for the Self-Employed

As chartered tax accountants, tax is a topic which we discuss with our clients on a daily basis. In this day and age, almost all of our clients know they can go to the Internet for tax advice, but often what they get is generic information. Case in point: there are plenty of materials on the Internet advising how a self-employed person can reduce their tax bill and most of them usually begins…

Small Business: Top Tips to Manage Cash flow

If you run a small business, you’ll know first-hand about the challenge in managing cash flow. At TaxAgility, we have witnessed many cases where business owners are certain about achieving sales targets and profitability by the end of the year, yet they encounter negative cash flow in the process, hampering their growth plan or even putting them out of business because they cant pay their bills.……

Autumn Statement 2016 edition of Tax Tips & News

Individuals Personal allowance and basic rate limit for 2017-18 The personal allowance for 2017-18 will be increased to £11,500 (£11,000 in 2016-17), and the basic rate limit will be increased to £33,500 (£32,000 in 2016-17). The additional rate threshold will remain at £150,000 in 2017-18. It was announced that the allowance will rise to £12,500 by the end of Parliament. The marriage allowance…