Numbers R Us Ltd

The Numbers are the most important part of your business, whether you are a Sole Trader or are Director of a Limited Company.

As a Sole Trader you may think "money in, money out", but it is essential to keep records of everything. If you don't yet need to register for Making Tax Digital, you soon will. I can help with that.

As a Company Director, it is your responsibility to keep your company Accounts in order digitally. Do you know which expenses are Tax deductible and which aren't? I can help with this and also advise on some Tax deductible expenses that you may not know about!

Email [email protected]

Let"s talk Self-Assessment. It is not due until January. I have already completed some of my clients Self-Assessments. They do not need to pay HMRC until January, but at least now they know how much to pay

I can do yours now. Please email [email protected] or call 020 8798 2498

Numbers R Us Ltd Accounting service

An employer can usually reclaim 92% of employees’ Statutory Maternity, Statutory Paternity, Statutory Adoption, Statutory Parental Bereavement and Statutory Shared Parental Pay. If the business qualifies for Small Employers’ relief, this figure can increase to 103%.

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There is an online tool, developed by HMRC, that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax.

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Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages of being a sole trader include independence, ease of set up and running your business, and the fact that all the profits go to you.

Setting up as a sole trader - Numbers R Us Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages of being a sole trader include independence, ease of set up and running your

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death.

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The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be happy to leave dealing with their 2023-24 tax returns until later this year or even until January 2025.

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Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is effectively rolled over into the cost of the new asset and any CGT liability is deferred until the new asset is sold.

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Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel benefit charge. The charge is determined by reference to the CO2 rating of the car, applied to the car fuel benefit multiplier, currently £27,800.

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The changes to the High Income Child Benefit Charge (HICBC) announced as part of the Spring Budget came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged has been increased from £50,000 to £60,000.

Changes to the High Income Child Benefit Charge - Numbers R Us The changes to the High Income Child Benefit Charge (HICBC) announced as part of the Spring Budget came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged has been