How to complete a CIS self-assessment tax return

Completing tax returns is an often daunting and complex process for anyone, from sole traders to business owners. At Tuchbands we offer advice and assistance to make the process of tax planning and tax returns less stressful and keep it as smooth as possible. In certain industries there are specific types of tax return that need to be completed, including the construction industr… Continue Reading

Tax planning: The most important things for small businesses to consider

Effective tax planning is something of a hurdle for businesses of any size, but for small businesses in particular it can be a real obstacle course. There are many pitfalls to avoid, but finding your way through them and ensuring that you only pay what is necessary is easier than it may seem. It is highly likely to prove worthwhile – individuals and businesses in the UK overpay billion… Continue Reading

Changes to IR35 in 2020: What you need to know

What is IR35?

The off-payroll working rules (IR35) are designed to prevent ‘disguised employment’. Prior to the introduction of IR35 back in 2000, ‘off-payroll’ workers such as contractors and freelancers could avoid tax by providing their services via an intermediary – such as a PSC (personal service company). The rules do not prohibit the use of these intermediaries &… Continue Reading

Making Tax Digital: The Timetable For 2019

What is ‘Making Tax Digital’?

Very few people enjoy getting their tax affairs in order. Whether you’re a hard working self-employed professional, a landlord or a business with a network of client finances to manage, keeping on top of your corporate taxes is far from easy and mistakes are estimated to cost the Exchequer over £9 billion a year. For this reason, the Making Tax Digital i… Continue Reading

Do companies pay Capital Gains Tax?

Capital Gains Tax is not paid by limited companies or unincorporated associations like community groups or sports clubs.  Instead, companies pay Corporation Tax, which is another type of payment.  It is important that business owners are aware of the difference between certain taxes so that they know which ones they are eligible to pay.

What is Capital Gains Tax?

Capital Gains T… Continue Reading

Making Tax Digital, What Does it Mean?

Over the last few decades, the Internet has revolutionised the ways in which we go about our day-to-day activities. Be it chatting with friends, ordering groceries or even looking at too many pictures of cats, we are living in age of unprecedented access and control of our lifestyles, all contained in devices big enough to sit in our pockets. In line with this, HMRC is taking signifi… Continue Reading

Is your company ready for auto-enrolment?

Is your company ready for auto-enrolment? The Pensions Act 2008 brought into law that all employers had to offer a workplace pension to qualifying employees and that these employees would be automatically enrolled into the scheme. Why Was Auto-Enrolment Enshrined in Law? The Government is very aware that people are living longer and currently not saving enough for retirement,… Continue Reading

Top Five Time-Saving Accountancy Tips For Busy Small Business Owners

It goes without saying that all small business owners are extremely busy, and it can often be difficult to keep on top of everything. One area that your really can’t neglect is bookkeeping and accounts; however, it is not always easy to dedicate the time that’s required when you have so many other things to do. So take a look at our top time-saving accountancy tips that ca… Continue Reading

Common book-keeping mistakes made by small businesses

Many small business owners are guilty of making mistakes when it comes to keeping on top of their books. In most cases, this means that they are neglecting to give their books their full attention because they are just far too busy with other aspects of running their business. However, this is not something that you can afford to do, as it can lead to financial errors and a lack of contro… Continue Reading

Becoming Your Own Boss: Essential Advice

More and more people are starting their own businesses in the UK. There are certainly many benefits associated with becoming your own boss, including the potential to make more money, have more freedom and be doing something you love. But, starting a business is never an easy option, as there is so much that needs to be done that you may not have even considered as an employee. This is w… Continue Reading