Accotax Does Accounting for Freelancers

People turn to freelance because of the benefits this particular career path possesses and with benefits comes flexibility and freedom which many find lacking in a fulltime employment setup. There are plenty of pluses that motivate people to turn to freelance and some...

Tax Return Accountant London

HM Revenue and Customs (HMRC) has some rules and regulations in terms of collecting tax. London is a big city where everything is going systematically. HM Revenue and Customs (HMRC) uses the system of self-assessment to collect Income Tax. Here in all these...

SELF-ASSESSMENT PENALTIES

Based on recent years HMRC will potentially issue at least 1 million late filing penalties.  It is important to be ahead of the game in terms of advising clients who have failed to meet the filing obligation and to be able to address disputes with HMRC. Finance Act...
Creating an Office at Home

Creating an Office at Home

Many company owners work from home, this note looks at how you may obtain tax relief on the cost of converting the spare room, or building a deluxe summerhouse to serve as an office in the garden. A director can reclaim any expenses incurred when working from...
Allocation of partnership profits

Allocation of partnership profits

Partnership income is computed for the whole partnership by reference to the various sources of income for each accounting period. However, the legislation also says that for each tax year in which a firm carries on a trade, each partner’s share of the...
Tax Investigtion Accountants & Cover

Tax Investigtion Accountants & Cover

A tax investigation could cost you money even if you’ve done nothing wrong. HMRC FACTS £33 Billion is the estimated tax gap between what HMRC should collect and what it does collect. £17 Billion is attributed to Small Businesses (£14bn) and Individuals (£3bn). Tax and...
VAT Moss Changes to VAT Place of Supply Rules

VAT Moss Changes to VAT Place of Supply Rules

From 1st January 2019, an EU wide change to the VAT place of supply rules will be implemented that will affect MOSS registered businesses who are established in the EU.  What is changing? An £8,818 annual threshold (total value, exclusive of VAT) for cross border...