Category Archives: Uncategorized

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 […]

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 […]

Making Tax Digital for VAT Glos businesses guide

ESB Accountancy guide for Making Tax Digital (MTD) for VAT Glos businesses. The start date for Making Tax Digital (MTD) for VAT is fast approaching. If you are a VAT-registered business with turnover in excess of the VAT registration threshold of £85,000, you will need to comply with the requirements of MTD for VAT from […]

Drive to increase number of business women

There is a drive to increase the number of business women as half as likely as men to start a business “Unfair obstacles” may be stopping women from starting and growing their own companies the government has said. The govt said women were half as likely as men to start their own business, and only a […]

UK unemployment at record low levels

UK unemployment fell by 65,000 to 1.36 million in three months to June – the lowest for more than 40 years, official figures from the Office for National Statistics (ONS) show. They also show a rise in productivity, but a slowdown in wage growth. Wages, excluding bonuses, grew by 2.7% in the three months to June, […]

A million couples miss out on tax break

More than a million married and civil partnered couples are still eligible for a tax break but have yet to claim it, HMRC has said. The Marriage Allowance is worth up to £238 a year, and backdated payments of up to £662 could also be available. There was criticism that the allowance, aimed at couples […]

Tax advice for Glos businesses

ESB offers Gloucestershire businesses tax advice suggested by HMRC ESB Accountancy and HMRC suggest that you get your affairs in order swiftly. HMRC are currently running a number of campaigns to encourage taxpayers who have undeclared income to come forward and bring their tax affairs up to date in return for lower penalties. In particular, […]

New 2018 Accounting Tax Rates in Gloucestershire

New HMRC 2018 Tax Rates in Gloucestershire by ESB Accountancy come into effect this month. 2018 Personal allowance tax rates The personal allowance increases to £11,850 for the 2018/19 tax year. As for 2017/18, the personal allowance is reduced by £1 for every £2 by which adjusted net income exceeds £100,000. This means that anyone […]

Self Assessment Tax Deadline looms on 31st January

The Self Assessment Tax Deadline looms on 31st January 2018- only 15 days away! 2018 Tax Deadlines: 31 January – for any tax you owe for the previous tax year (known as a balancing payment) and your first payment on account. 31 July for your second payment on account. If you prefer to pay regularly throughout […]