Caroline Brockwell - JuniperLynx Academy

Navigating the Spring Budget 2023: A look at some key points for Businesses and Individuals

The Spring Budget 2023 brings several significant changes to corporation tax, capital allowances, private pension contributions, and personal tax and capital gains. Some of the measures have been announced previously, but were effectively confirmed to go ahead by this budget. As a business owner or an individual, understanding these changes

Making Tax Digital for Income Tax

What is Making Tax Digital for Income Tax? Making tax digital is essentially a transition to electronic accounting records and submissions. Taxpayers will need to file quarterly summaries with HMRC, to let them know what your income is throughout the year. Once you have submitted your quarterly summaries, HMRC will

Self Employed

How to Register as Self-employed with HMRC

What does it mean to be Self-employed? * A person who runs their own business (not through a limited company) * Selling goods or services regularly for profit, i.e., if you are buying and selling products without company structure you would be considered self-employed. * When you start working for yourself (not

Autumn Budget 2021 - Update for Small Businesses

In this year's Autumn Budget, many of the biggest changes for small businesses had already been announced before the Chancellor's speech. Let's take a look at the 2021 Budget update for small businesses. Keep reading below or feel free to watch our short video! Corporation Tax Changes from April 2023

Limited Company Expenses

What Expenses Can You Claim with a Limited Company?

Whether you're just starting out, or you've had some experience running your own limited company, we've created a handy list that'll make sure all your business expenses are legitimate. HMRC has some general guidance on what expenses you can claim with a limited company. Basically it's anything that is 'solely

Dividends

UK Dividend Tax Rates 2018-19

The UK dividend tax rates for 2018-19 are very similar to the previous tax year. However, there are a few changes that will allow you to receive more income with less tax to pay. in the video we'll go through specific examples of receiving dividends with various levels of income

Limited Company

Purchasing a Van through a Limited Company

Your Limited Company is able to purchase a van as an allowable company asset. Ideally there would be a reasonable justification for your company to purchase the van in the first place. For example you need to transport equipment that's necessary for providing your company’s usual services. Why purchase

Making Tax Digital

You may have heard about Making Tax Digital briefly or not at all. For many businesses this change will seriously impact the way they keep company records and submit VAT returns to HMRC. So in the video above we've gone ahead and explained what Making Tax Digital VAT will bring

Limited Company

How to pay yourself from a Limited Company

Paying yourself can either seem extremely straightforward or generally difficult. In both cases you might not know the whole picture, so below is a short video summary to explain how to pay yourself from a limited company. Keep reading if you'd like to know more... The Difference Between Salary and

How to Setup a Limited Company

How to setup up a Limited Company

With about 5 million individuals now working for themselves in the United Kingdom, many will naturally want to explore their choices regarding what type of business structure they'd like to operate. It's an important factor to consider not only for tax efficiency, but also as legal protection for your assets.

Dormant Company

Dormant Company Guide

What does it mean when you have a Dormant Company? A company is said to become dormant when it does not have any form of relevant or important accounting transactions in a specific accounting period. In this manner, a significant accounting transaction can be deemed as one which a company

VAT

Flat Rate VAT Changes

It's important to know how the flat rate VAT changes affect your business. In this video we'll discuss the original flat rate scheme and compare it to the most recent changes. Limited Cost Trader Being a limited cost trader simply means that your expenses aren't high enough to warrant the

VAT

Flat Rate VAT Scheme Guide

Many businesses usually have a hard time completing their VAT returns; the process has been unusually long and complicated. But thanks to the Flat Rate VAT Scheme, you can now complete your VAT returns for your business in an easier and faster way. Using the flat rate scheme rather than

IR35

5 IR35 Questions to Ask Yourself

IR35 impacts contractors every year in the UK. Many simply ignore the legislation and hope it doesn't affect them. This will leave you with very little evidence against HMRC if they decide to label you inside IR35. The last thing you want is a backlog of employment taxes and national

Limited Company vs Umbrella

Limited Company vs Umbrella – Don’t lose £1,000s

Know where you stand when it comes to Limited Company vs Umbrella. Both options have important pros and cons to consider when making your choice. On one hand, an umbrella company gives you some of the comforts of having an employer (with short term contracts), but overall you pay higher

24 Month Rule

HMRC 24 Month Rule – Are You Misinformed?

An important yet overlooked piece of legislation is the HMRC 24 Month Rule for contractors. Make no mistake, this doesn’t have anything to do with your IR35 status, but rather how HMRC views your travel practices between your office address or usual place of business and the client site.

IR35

What is IR35? – IR35 Explained

We need to begin with the question “Does IR35 apply to me?”. If you are in any freelance contracting position where you are not directly on a company’s payroll, then you could be at risk of being caught inside IR35. This applies to contractors or freelancers working through their