Category: Uncategorized

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How Cloud Technology Has Changed the Way Accounting Services Are Delivered

The rising of cloud technology has replaced a lot of labour intensive work. The old way of accounting, which focuses only on number crunching tasks, is going to be replaced by technology. But the new breed of accounting profession will look to interest their clients with the cause and prevention of high tax bills. Cloud Accounting Most of us might have been through some … Read More How Cloud Technology Has Changed the Way Accounting Services Are Delivered

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Doctors of The Future – Changing The Way Healthcare is Delivered in The UK

In this article, we will discuss doctors of the future and how technology can change the way we deliver healthcare in the UK. Dr Ali, the founder of the app DocNoc, has taken some time to sit with Hannah Xu to talk about the business and how the idea was formed. Dr Ali has been a qualified doctor since 2002 and has been working … Read More Doctors of The Future – Changing The Way Healthcare is Delivered in The UK

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Tax Breaks for Going Green

Do you know that you can pay less tax by making more environmentally friendly choices? The government has put forward a few tax incentives for taxpayers to choose to go green. These tax incentives include tax breaks for choosing low emission cars, the cycle to work scheme, etc. This article will also cover how the Government has made the tax system more helpful for … Read More Tax Breaks for Going Green

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Tax incentives that encourage you live a healthier lifestyle​

“Tax is there to encourage people to behave a certain way.” That is what I’ve learnt from Rich Dad Poor Dad concept (Tax-free wealth).  There are currently tax breaks available that encourage people to make healthier lifestyle choices. Here are some tax breaks that government uses to incentives people to live a healthier lifestyle. Tax incentives related to health for employees and company directors  … Read More Tax incentives that encourage you live a healthier lifestyle​

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The Art of Utilising Business Losses to Minimise Tax

What to do if the business is making a loss? This is a guidance on how to use business losses to offset other taxable income to save tax. There are slightly different rules between incurring losses as a sole trader and as a company. And there are rule changes for corporation tax loss which was brought forward from April 2017. Business Losses as a … Read More The Art of Utilising Business Losses to Minimise Tax

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Health is Wealth: Looking After Your Health for Busy Professionals

‘Health is the Ultimate Wealth!’ It costs the NHS more than £11 billion a year to treat the diseases that are related to poor lifestyle choices! (Public Health England) When we are thriving to build wealth, it is easy to forget that ‘Health is the Ultimate Wealth!’ However, the good news is, most of the chronic diseases can be prevented by healthy lifestyle choices. … Read More Health is Wealth: Looking After Your Health for Busy Professionals

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Company Car or Personal Car? 3 Things You Need to Know About Company Cars

‘Shall I buy a car under a company or personal name?’ There have been a lot of questions around personal cars vs company cars, when you are a running a limited company. It is important to be aware of the different things to consider as in the end there are a number of tax consequences when you purchase a car under a company’s name. … Read More Company Car or Personal Car? 3 Things You Need to Know About Company Cars

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When and How to Claim Expenses on Travel and Subsistence

Travel and subsistence is a very simple expense but there is a lot to say about it. We will look at this in further detail and explain when you cannot claim this expense and when you can. There are also some tricks if you are running your own business to make the travel tax deductible. When You Can and Cannot Claim Travel and Subsistence … Read More When and How to Claim Expenses on Travel and Subsistence

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Making Tax Digital: Are You Ready for the Quarterly Tax Reporting Duties?

Are you tired of working long hours to fund your tax bill? There are a lot of people who may feel as though they would need to work more shifts in order to fund their next tax bill, this is a short-term solution but it is tiring as well. When you are working seven days a week for a month you will have an … Read More Making Tax Digital: Are You Ready for the Quarterly Tax Reporting Duties?

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Straighten Out Your Rental Income Tax

There are more medical professional clients who are looking to start property investment. It is important to be aware of the tax implications when you rent out a property and how different it is tax-wise when you rent it out. This is a guidance focusing on when you do not have to declare rental income in your tax return, buy-to-let tax changes and options … Read More Straighten Out Your Rental Income Tax

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Understand Your National Insurance Contributions

What is National Insurance and What is it Used For? National Insurance is one of the payroll deductions and a majority of people do have to face it at some degree. National Insurance is used to fund state benefits such as; state pension, maternity allowance and unemployment allowance. These deductions are indirectly benefiting you or benefiting you for the long-term. Who Needs to Pay … Read More Understand Your National Insurance Contributions

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Tax penalty, and how to negotiate the best outcome when things go wrong

“A tax is a fine of doing well, a fine is a tax of doing wrong” When you make a profit, the taxman has to take a cut which means you have to pay a fair share of tax. However, when you do submit your tax return to HMRC and something goes wrong you will then have to pay a fine. Penalty for Missing … Read More Tax penalty, and how to negotiate the best outcome when things go wrong

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