11 August

Growth Vouchers – Helping Small Business Afford Strategic Advice

The government has launched the Growth Vouchers Programme to support small businesses invest in strategic business advice, under European State Aid rules.  The Programme offers matching funding of up to £2,000.00 to help a business afford: –          finance and cash flow planning –          recruitment and staff development –          the improvement of leadership and management skills […]

10 August

The Mayor of London Offers Financial Support for Businesses to Install High-Speed Broadband

London is one of twenty-two cities across the United Kingdom that is participating in the Broadband Connection Vouchers scheme funded by the Department for Culture, Media and Sport.  The scheme aimed to assist businesses cover the cost of installing High-Speed Broadband. Broadband Connection Vouchers provide up to £3,000.00 for the installation of a faster broadband […]

23 July

The Annual Investment Allowance is now £500,000

One of the flagship measures in the UK Chancellor of Exchequer’s 2014 Budget was to increase the level of Annual Investment Allowance (AIA) to £500,000 from April 2014. AIA offers tax relief at 100% on Qualifying Expenditure in the year of purchase and is designed to encourage businesses to make capital investments in the knowledge […]

23 July

Simpler Income Tax

Posted by in Guides

From the 2013-14 tax year, the HMRC has introduced Simpler Income Tax reporting for small self-employed businesses. To qualify, you need to be a sole trader or a partnership of individuals with an income of £81,000 or less.  This amount is the current threshold for compulsory VAT registration but, if you are voluntarily VAT-registered, so […]

16 July

2013-14 Self-Assessment Tax Return – Second Payment on Account

Posted by in News Alerts

If you pay tax through a Self-Assessment Tax Return and are required to make Payments on Account for 2013-14 tax year, please be aware that the deadline for the HMRC to receive the second payment is 31st July. If you are unsure of your situation, please contact welcome@cooperfaure.co.uk for further information.

11 July

Simplified Self-Assessment Tax Returns for the Self-Employed and for UK Property Earnings

The HMRC have introduced a simplified method for the Self-Employed and those earning income from UK property to complete their tax returns, the ‘Three Line Account’. So long as your annual turnover from self-employment or income from UK property is below the VAT registration threshold, which is currently £81,000, you are entitled to use the […]

11 July

What Is Turnover?

Posted by in Guides

Whether you are self-employed or earn income from property in the UK, turnover means the total income earned from your business during the tax year. For the self-employed, this includes: • cash and cheques received. • bank transfers and deposits received. • card payments received. • tips, fees and commissions. • the value of any […]

18 June

How To Renew Your Tax Credits

If you receive Tax Credits, these normally need to be renewed each year. However, you may be sent a letter from HMRC stating that the Tax Credits will be renewed automatically.  In this case, there is no action required so long as the details are correct. You are only able to renew your Tax Credits […]

4 June

What Makes a Company Car a Pool Car?

A question that we are often asked is “What Makes a Company Car a Pool Car?” The following five conditions must all be fulfilled for a car that is provided by a company to be considered to be a Pool Car: –          The car is made available to, and actually used by, more than one […]

24 May

HMRC Second Incomes Campaign

The latest group to come under scrutiny from HMRC are those individual taxpayers who are earning a second untaxed income. As a precursor, the HMRC have launched the Second Incomes Campaign that provides the opportunity for any employed taxpayer who is resident in the United Kingdom and who has additional untaxed income to bring their […]