The taxation issues you need to consider for both unincorporated and corporate businesses.
Concise information on the taxation issues you need to consider for both unincorporated and corporate businesses. Click on the links below to access the relevant information.
This factsheet focuses on the current tax position of business motoring, a core consideration of many businesses. The aim is to provide a clear explanation of the tax deductions available on different types of vehicle expenditure in a variety of business scenarios. For many businesses, the tax allowances available for business motoring is an important … read more Business motoring – tax aspects
The cost of purchasing capital equipment in a business is not a tax deductible expense. However tax relief is available on certain capital expenditure in the form of capital allowances. Tax relief is available on certain capital expenditure in the form of capital allowances but the amount of these allowances can vary depending on the … read more Capital allowances
Small unincorporated businesses can calculate their profits for tax purposes on a cash basis rather than the normal accruals basis. We look at the optional rules that allow for this, while also taking in the key tax points. We consider the optional rules which allow small unincorporated businesses to calculate their profits for tax purposes … read more Cash basis for the self-employed
Pre-year end tax planning is an important consideration and this factsheet outlines some of the key areas. Topics covered include corporation tax, capital allowances, dividends payments and capital gains. Tax saving opportunities often need to be considered prior to the year-end of the company or prior to the tax year-end of the individuals who are … read more Companies – tax saving opportunities
Under corporation tax self assessment large companies are required to pay their corporation tax in four quarterly instalment payments. This factsheet considers the rules regarding these payments. If your company is caught by the quarterly instalment payments rules, the first payment of corporation tax for a current accounting period will be before payment has been … read more Corporation tax – quarterly installment payments
This factsheet explains the procedures for filing your company’s tax return and paying the tax due. There are a number of procedures for filing your company's tax return and paying the tax due. We set out the basic elements here but at SKZ Chartered Certified Accountants, we can prepare the necessary returns and advise on … read more Corporation tax self assessment
An optional system of fixed rate expenses applies for unincorporated businesses. We consider the optional rules which allow the use of a 'simplified' fixed rate deduction instead of actual costs. Self-employed and interested in in reducing your record keeping? An optional system of fixed rate expenses allow the use of a 'simplified' fixed rate deduction … read more Fixed rate expenses
If you are self employed and work from home this factsheet will summarise what homeworking costs you can claim for tax purposes. Self-employed and working from home? Some of the costs of the home can be claimed against tax and, in some cases, these costs may be considerable. We set out types of costs that … read more Homeworking costs for the self-employed
Considerations when operating as a company on incorporation. If you run your business as a company you may save a considerable amount of tax. However, there may be disadvantages and a sole trade or partnership structure may be better. If your business is in the Essex area we, at SKZ Chartered Certified Accountants, can show … read more Incorporation
The 'IR35' rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships. This factsheet summarises what situations are caught by the rules and the implications of the rules. We summarise what situations are caught by the special rules that apply to some personal … read more IR35 personal service companies
Research and development (R&D) by companies is being actively encouraged through a range of tax incentives, which we consider in the points below. Research and development (R&D) by companies is being actively encouraged through a range of tax incentives including an increased deduction for R&D revenue spending and a payable R&D tax credit for companies … read more Research and development