20 April

Limited Companies and Tax Relief on Charitable Giving

In the past, donations to charity were not seen as a valid business expense by a Limited Company and, as a result, were not allowable for tax relief. In recent times, to encourage an altruistic spirit, the rules have been liberalised. As a result, a Limited Company now pays less Corporation Tax when it gives […]

19 April

How to Register for a Tax Return

Posted by in Guides

If you have not completed a tax return before, you need to register online with HMRC. For everyone except sole traders and partnerships, to register with HMRC click here. For a new sole trader, to register with HMRC click here. For a new partner, to register with HMRC click here. If you are the ‘nominated […]

19 April

Who Needs to Complete a 2014-15 Tax Return?

In the UK, we are in the fortunate position where most people earning a PAYE salary or wage or receiving a pension do not need to complete a tax return. However each year, as working and lifestyle patterns change, the number of tax returns increases. More than 10,000,000 were filed for the 2013-14 tax year. […]

16 April

CooperFaure Team News

Posted by in News Alerts, Staff

We are delighted to announce that Freddie Faure has been awarded a Fellowship by the ACCA in recognition of her continuous commitment to professional development in the five years since qualifying with the Association of Chartered Certified Accountants. In addition, we are pleased to welcome Lindsay Kantorowicz to the team as an Accounts Administration Assistant. Lindsay […]

11 April

What is a Limited Company?

Posted by in Guides

A Limited Company is a company that is registered at Companies House and governed by its own Articles of Association (these set out the rules company officers must follow when running their companies). In addition a Limited Company must observe and operate within the Companies Act 2006. Upon registration, a Limited Company acquires its own […]

11 April

Advancing The Future – Tax Incentives for Research and Development

As part of the government’s ongoing commitment to make the United Kingdom a centre for advancement, there are attractive tax relief schemes available for Research and Development. R&D Relief has the impact of reducing the Corporation Tax liability for your business. For companies that qualify for the Small or Medium-sized Enterprise Scheme, you may be […]

10 April

The First Step on the Journey – A Guide to Self-Employment

Posted by in Guides

For a growing number of people, working for themselves would be their ideal career path but the paperwork and administration seems daunting. This guide aims to take you through the process in a straightforward manner. The first step is often to run your own business as an individual before considering becoming a Limited Company. This […]

8 April

Simplified Expenses If You Are Self-Employed

Posted by in Guides

In order to make the administration easier if you are self-employed, the HMRC are permitting you to use an allowance for the business costs of vehicles and for working from home. This is an option and, if it is more beneficial to use the actual costs, this is still fine. For all other business expenses, […]

7 April

Workplace Pension Auto-Enrolment – Overview for Small Businesses

The law on the provision of Workplace Pensions has been applied in phases since 2012. Eventually, virtually all UK employers will be legally required to automatically enrol most staff into a pension scheme and to make direct contributions. As per our previous newsletter, all employers with fewer than thirty employees that do not qualify for […]

6 April

Tax Changes That Have Come Into Effect on 6th April 2015

A raft of tax changes have come into effect today. The main changes that affect individuals and businesses are: the Income Tax Personal Allowance increases to £10,600 the higher rate income tax threshold increases to £42,385 the new Marriage Allowance is active employers will no longer pay employer NICs for employees under the age of […]