Category Archives: Accountancy Advice

HMRC clarifies tax breaks on gifts

HMRC clarifies tax breaks on gifts Gift aid: If you’re a higher or additional rate taxpayer you can claim extra tax relief for charitable donations you make under the gift aid arrangements. This tax break applies to donations by individuals and not to those made by companies, organisations or groups of individuals and not to those made by companies, organisations or groups of individuals. This has caused some newspapers to suggest that where you make donations in the form of a sponsorship, typically through websites like JustGiving, and include a message that implies the gift is from more than one person, such as “Good luck from us all”, you’ll lose the gift aid tax break because the sponsorship...

5 Minute Profit Maximise Analysis

5 Minute Profit Maximise Analysis Do you know what state your business is in? We mean, is everything running as it should? Is your business in the sort of health you want it to be? Could it run the proverbial marathon or would it give up after 5 miles? A lot to contemplate we know, but when it comes to how much profit your business could potentially be missing out on, we’re sure you won’t mind a few questions. Is your current accountant only providing you with just the standard type 1 accounting services (tax returns, accounts etc)? Did you know about type 2 and 3 services that exist too? Type 2 and 3 services are there to give you a...
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