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Budget 2011

March 25, 2011 By Leave a Comment

In the Budget speech, there was some further good news for small businesses, building upon what we had already been told in 2010’s budget. This is clearly a key aim for George Osborne, the Chancellor, who has said he wants to “make Britain the best place in Europe to start, grow and finance a business”.

Whilst we think this budget is broadly favorable to larger businesses, we believe that more could be done to help smaller businesses.   

The summary below sets out the changes that will have an impact for you or your business. 

 

 Individuals

Personal allowance

These allowances represent the amount of an individual’s income in the tax year that is not subject to income tax. [Read more...]

Filed Under: Business Tax, Legal Requirements, Personal Tax, Start-ups Tagged With: , ,

10 great tips for your Self Assessment Return

January 20, 2011 By Leave a Comment

It is January once again and we are fast approaching the Self Assessment deadline for filing your 2009-10 tax return (31 January 2011).

I have put together a list of things to consider when completing your tax return. Whilst this is not a comprehensive list, it will hopefully provide a helping hand.  

1.       Check whether you need to complete a Self Assessment tax return.  If you have run a business, either as a self-employed person or as a director, you will have to submit a tax return. Yes, even if you earned less than the personal allowance. You’ll also need to complete a return if you received income (above set thresholds) on savings, investments or property. [Read more...]

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