Guides

The risks of a tax investigation

Will HMRC come knocking on your door? It’s a fact – humans are bad at assessing risk. We’re terrified of things that rarely happen (plane crashes, power station meltdowns) but relatively blasé about things that are statistically more likely to harm us, such as unwashed lettuce. The likelihood of HMRC swooping to investigate your business’s …

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National insurance planning

National insurance planning National insurance contributions (NICs) are set aside to pay the state pension and other beneits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than 90% of its annual outlay in 2018. A review by the Government Actuary’s Department …

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Deregistering for VAT

When and how to begin the process of deregistration. These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold.Limiting your ambition in this way might seem counter-intuitive – surely you want your business to get as big as possible?But …

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