Receiving tax relief on pension contributions into a workplace pension is a great way to help prepare for retirement. In addition, contributions from your employer can make the pension savings even greater. If you are automatically enrolled into a workplace pension a percentage of your earnings is paid into your pension fund each
More...If you become liable to pay a tax or register for a tax that HMRC has not already been informed about, you must notify HMRC within the relevant time limit. Failing to do so can result in a financial penalty in addition to the tax and any interest due. A failure to notify can arise in a range of situations, including when a business
More...When a sole trader or partnership transfers a business to a limited company, a chargeable gain may arise. This is usually calculated by comparing the market value of the business assets at the date of incorporation with their original cost. Without any relief, this gain would normally be subject to Capital Gains Tax (CGT). However,
More...Employers providing loans to employees or directors need to ensure they correctly calculate any taxable benefit using HMRC’s official rate of interest. Where a loan is provided at no interest or at a rate below the official rate, a taxable benefit may arise. These types of loans are referred to as beneficial loans. A beneficial loan
More...Businesses seeking investment through the Seed Enterprise Investment Scheme (SEIS) or Enterprise Investment Scheme (EIS) can benefit from obtaining advance assurance from HMRC before approaching investors. Advance assurance allows a company to ask HMRC whether a proposed investment is likely to meet the conditions of a venture capital
More...Companies and other organisations that are liable for Corporation Tax must ensure they register with HMRC at the correct time. Failing to register when required could result in missed filing obligations and potential penalties. Most limited companies can register for Corporation Tax when they are first incorporated at Companies House. If
More...A recent ruling has determined that targeting individuals online, even on a private group chat, can lead to a loss of employment. A Mr. Y was employed by the Royal Mail as a delivery driver with an impeccable, longstanding record of service. This was not to last as, in 2022, a labour dispute orchestrated by his union led to the creation
More...Technology is changing the way businesses operate, and the pace of change is only increasing. While large organisations often have dedicated IT departments, many small businesses still rely on traditional methods that consume valuable time and limit productivity. Improving digital skills can help businesses work more efficiently, reduce
More...Economic uncertainty has affected the confidence of many small business owners. Rising costs, changing customer demand and pressure on cash flow have led some businesses to postpone investment until conditions improve. While this cautious approach is understandable, waiting for the economy to recover before taking action can mean missed
More...After someone dies, the beneficiaries may find that the way an estate has been distributed does not reflect their wishes or the family’s circumstances. A Deed of Variation can allow beneficiaries to change how inherited assets are passed on and, in some cases, can help reduce the amount of tax payable. It is important to note that any
More...Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. It is important to check whether SDLT applies before completing a purchase, as the tax can represent a significant additional cost. SDLT can apply when you buy a freehold property, a new or existing leasehold property, a
More...Cash basis accounting is a simplified method used by sole traders and other unincorporated businesses to work out income and expenses for self-assessment in a straightforward manner. The cash basis is the default method for calculating income and expenses for self-employed individuals and partnerships when completing their Income Tax
More...At Cooper Paul our primary aim is to assist you in achieving both your business and personal financial goals. We not only take care of all your accounting and compliance needs, but offer the advice, support and experience needed to help you succeed.
Cooper Paul
Abacus House, 14-18 Forest Road
Loughton
Essex
IG10 1DX
Tel: 020 8508 8214
E-mail: info@cooperpaul.co.uk
Web: www.cooperpaul.co.uk
