Yearly Archives: 2019

Entrepreneurs’ Tax relief – how to benefit

How to benefit from Entrepreneurs’ Tax relief Entrepreneurs’ relief and business property relief are two extremely valuable reliefs available to business owners. Whilst many advisers are familiar with the way these reliefs apply to company shares, they must also be aware of how the rules and conditions apply to unincorporated businesses. Entrepreneurs’ Tax relief Entrepreneurs’ […]

The responsibilities of a Company Director and a Company Officer Part 3

When is someone a Company Director and a Company Officer Part 3? Mr Malik – the “Pizza worker” contended that the lead role at the meeting had come about because he was instructed to lead by Mr Munaim. He denied any admission of responsibility for company financial affairs. He attributed his detailed knowledge of the […]

Who is a Company Director – a Gloucestershire Overview Part 2

The role of a Company Director and a Company Officer In the current case, Mr Malik stated that ‘owners/ managers come and go’ as a result of the business being run as a franchise. Evidence of a number of companies operating from the same address was provided. None had ever registered for VAT. Though dates […]

Who is a Company Director – a Gloucestershire Overview

What does it mean to be an Officer and a Director of a company? It may seem like a daft question but people need to be able to answer the question confidently – or they could get into trouble with HMRC. Pizza business – slicing up the ownership roles A Pizza business was issued with […]

Making Tax Digital (MTD) help and guidelines by ESB Accountancy

Making Tax Digital (MTD) help and support guidelines for Glos businesses by ESB Accountancy MTD for VAT For most VAT registered businesses with VATable turnover over the VAT registration threshold of £85,000, Making Tax Digital for VAT applies from the start of the first VAT accounting period beginning on or after 1 April 2019. However, […]

Off payroll business rules (IR35) explained by ESB Accountancy

Rules for business off payroll working (IR35) from April 2020 explained by ESB Accountancy Legislation has been published in draft which extends the off-payroll working rules as they apply to end clients in the public sector to large and medium sized end clients in the private sector. The rules apply where workers supply their services […]

Business Finance Bill clauses published by Govt

Draft business clauses for inclusion in the Finance Bill 2019-20 have been published for consultation to ensure that the legislation works as intended. The final contents of the Finance Bill 2019–20 will be subject to confirmation at the time of the 2019 Budget. Each measure is accompanied by: • a tax information and impact note […]

National Insurance rates for businesses and employees in 2019

ESB Accountancy lists the National Insurance rates for businesses and employees in 2019 National Insurance contributions For 2019/20 the lower earnings limit for Class 1 National Insurance purposes is increased to £118 per week, the primary and secondary thresholds are increased to £166 per week and the upper earnings limit is increased to £962 per […]

Tax relief for entrepreneurs selling businesses

ESB Accountancy explains the tax relief for entrepreneurs selling businesses New personal company tax test Entrepreneurs’ relief reduces the amount of capital gains tax payable on the disposal of qualifying business assets. The availability of the relief is contingent on the qualifying conditions being met. Entrepreneurs’ relief is available for the disposal of shares and […]

Tax changes for business directors in Glos

HMRC has announced dividend tax changes for business directors HMRC has reduced the dividend allowance for company directors of businesses for the 2018/19 For 2018/19 the dividend allowance is set at £2,000 – a reduction from £5,000 for 2017/18. The reduction in the allowance will affect your profit extraction strategy if you have a personal […]