Business planning for tax year end

3 things every business should do at tax year end

As a business owner, whether a small business or a freelancer, you need to get ready for the start of the new tax year. OK, so the 6th April it is not as exciting as the real New Year on 1st January but it is important when you’re a business owner.

In the UK the tax year runs from from the 6th April to the following year’s 5th April. The tax year for 2018-2019 will soon be drawing to a close, ...

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What is IR35?

IR35 has been receiving increased press coverage at the moment, for example the news about Ex-BBC Look North presenter Christa Ackroyd facing tax bill of £420k, which your can read on the BBC website, here,


What is IR35 and how does it effect a contractor?

IR35 is tax legislation that was introduced in 1999 and is designed to combat tax avoidance by workers supplying their services to clients via an intermediary, such as a limited company, but who would be an ...

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Are you Tax Resident In Spain?

Tax planning is a much ignored but vital area for expats living or moving to Spain, particularly for your investments, pensions and estate. Without a personalised, effective tax mitigation strategy it can be very easy to sleep walk into a unknown and significant tax liability.

If any of the following conditions apply the you are deemed to be resident in Spain for Tax purposes:

  • You spend more than 183 days in Spain in one calendar year. The days do not have to ...
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Spring Statement 2018: what you need to know

Yesterday the Chancellor of the Exchequer, the Rt Hon Philip Hammond MP, delivered his first Spring Statement to Parliament. The Chancellor used his speech to respond to the latest forecasts from the Office for Budget Responsibility and highlighted some areas of public consultation.

The Spring Statement does not include any new spending or policy announcements.This follows the switch to the new timetable of having a single major fiscal event each year, which began with the Autumn Budget last November.

You can find ...

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Spain’s Overseas Asset declaration – Modelo 720 2018

The 31st March 2018 is the deadline for residents of Spain to submit their annual Form 720 (‘Modelo 720’) listing their overseas assets is upon us, you must act now.

If you have previously submitted a form, you only need to declare assets if they have been sold or  or appreciated in value.

Who needs to declare?

If you were a Spanish resident in 2017 (see tax residency rules) then you need to consider the below stipulations as laid out by the Agencia ...

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Dividend and tax strategies

For many freelancers and contractors with their own limited companies, dividend payments coupled with a basic salary are an effective and tax efficient way to maximise earnings.

Dividends are the sums of money paid out by a limited company to its shareholders. HMRC sets the tax rate on all dividends received. These sums are calculated from the profits the company has made – i.e. the money the company has left after paying all business expenses and taxes.

How ...

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