Accounting Insights
Super-deduction tax break
  • 21
  • Jun
Only one in eight business owners ‘aware of super-deduction tax break’

As a business owner, you will naturally want to make the most of all available resources and sources of support to better your firm’s survival and growth prospects. That’s just one reason why you might be looking to draw upon the services of a chartered tax adviser in Newton Abbot, Plymouth, or Wellington, such as…

Increased NIC affect how you budget for the year
  • 14
  • Apr
Changes to National Insurance Contributions – How Does it Affect Company Directors?

The changes in National Insurance Contributions (NIC) that came into force in April 2022 impact directors and employees. The increase in NIC affects employers and employees in different ways, but how does it affect you as a director? Also, what should you be thinking about to efficiently manage the increase in your outgoings and the…

Tax Increases Salary & Dividend Combinations
  • 12
  • Apr
The Best Dividends and Salary Combinations for 2022/23

The tax rates and allowances for the new tax year have already been published, and the National Insurance contributions have been shrouded in controversy. Which leaves us questioning, what is the best combination of salary and dividends for the upcoming tax year? The Spring 2022 Budget confirmed the employee NIC threshold for 2022/23 has increased…

Online Sales Tax
  • 8
  • Mar
UK Government publishes early-stage consultation on possible Online Sales Tax

On 25th February, HM Treasury confirmed that the UK Government had set out an early-stage consultation in relation to the potential implementation of an Online Sales Tax (OST), considering reasons both for and against such a tax.  Why has the Government made this move now?  It was announced at the time of the Autumn Budget…

Cryptocurrency tax services
  • 19
  • Jan
Crypto Tax – An Opportunity for Accountants in the Digital Era

Cryptocurrencies are building themselves a niche within the accounting world. A growing number of traders now seek the help of accountants for crypto tax calculations and record-keeping. But the question remains, should accountants dive into this growing market?   Regardless of your opinion on cryptocurrencies, there is no escaping the fact that they are becoming…

misconceptions on R&D
  • 8
  • Dec
The Most Common Misconception in R&D Tax Credit Claims

Many companies and businesses believe that you can only claim tax credits for successful R&D projects. We’re here to tell you they’re wrong. Throughout history, scientists and inventors would agree that failure is an essential part of research and that without it, none of their great discoveries, inventions, or theories would have been achieved. HMRC…

  • 11
  • May
2020 declared ‘Year of the Start-up’ due to record levels of UK business creation

Last year may have been one of the toughest years UK business has seen in living memory, but it also saw the setting of an all-time record that should serve as an encouraging sign for the future of British entrepreneurship.  According to figures from digital payments specialist Tyl by Natwest, a whopping 770,000 new businesses…

  • 23
  • Mar
Were you aware of the changes to holiday entitlement and pay?

HMRC has made changes to holiday entitlement for casual staff on zero-hour contracts and holiday pay for zero-hour staff and staff that receive regular overtime/commission/bonus payments. UK Law states all workers must receive 5.6 weeks/28 days of leave, which includes bank holidays. Zero-hour staff For staff on zero-hour contracts, holiday can no longer be calculated…

  • 2
  • Mar
Self-employed workers in the UK call for delay to IR35 reform

A new poll has found that most of the UK’s self-employed individuals are seemingly unprepared for the changes to off-payroll working rules – also known as IR35 – that are set to take effect from April.  As reported by LondonlovesBusiness and elsewhere, a survey of more than 500 self-employed people found that only 3% of…

  • 8
  • Jan
Britons Urged to Act Quickly to Beat Self-Assessment Deadline

It’s that time again; not only is it a whole New Year, but it’s also time for the many millions of Britons required to complete a self-assessment tax return to do so by midnight on 31st January.  Of course, we realise here at TS Partners that some of you will have done the deed already.…

management accounts
  • 20
  • Aug
Regular Management Accounts: Is It True They Can They Transform the Financial Health of My Business?

Getting more from management accounts. As a business owner, it goes without saying it’s vital to always be on top of the company’s finances. You’ll always need to know how the business is performing, but also how it is projected to do in the upcoming months. Running a business also means making important decisions daily,…

R&D specialists
  • 12
  • Jun
5 Reasons Why You Should Choose R&D Specialists Instead of Your Accountant

Why choose R&D specialists over your accountant? Prospective clients ask us why, and it’s a good question. Accountants often tell businesses they can claim research and development (R&D) tax credits on their behalf at minimal cost. Some firms may even offer this service for free. Surely, you just have to fill out an extra couple…