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Quarterly reporting for the self employed

The Chancellors recent announcement revealed a little more about the new Digital Tax Account. It looks as if the self-employed will need to report their figures and pay tax quarterly.

Spend today culture

Research of 5,000 adults by the Money Advice Service discovered a “spend today” culture in the UK and a lack of financial skills.

A better 2016

As we approach the end of the year, it’s time to reflect and plan for the next year. One way of doing this is to create a budget.

Giving to save tax

Inheritance Tax (IHT) is something that affects more people than ever and is expected to double by 2020. In 2015/15 the tax office collected over £3.4 billion.

Xero security update

The Website hack of Talk Talk made national news so it was interesting to see Xero recommend users change their password.

Stay safe online

The Xero Website had a good article about being safe online to protect yourself, your customers and employees.

No gain mean no pain

Married couples and civil partners can reduce Capital Gains Tax (CGT) by making use of a special rule which allows them to transfer assets between them at a value that means there is no gain or loss for tax purposes.

Saving for children

If a parent saves money in the child’s name in a standard savings account then if the interest is over £100 it will be taxed in the parent’s name.