The HS2 project is one of the most demanding and exciting transport currently active in Europe. The project has set out to build a railway that will form the new backbone of Britain’s transport network.Read More
The HMRC has continued its crackdown on tax avoidance this tax year, with a record amount of investigations into British taxpayers offshore assets and income; which have been followed by the HMRC’s record net income of £560million.Read More
With the rise of the IoT, AI, AR, Fintech and much more, comes the rise of software engineers. A software engineer is an individual who develops various applications that enable users to accomplish tasks. Like all professions, software engineers come in the form of either employed or self-employed.
Software engineer’s salary bracket is regarded as one of the highest in the UK ranging from around £30,000 to £300,000, depending on seniority and ability. This means that many fall into the tax filing bracket whether they are self-employed or not.Read More
Over the past 5 years the general UK population’s rise in concern and consciousness for the environment is undeniable. From youth climate change protests to the suggested conversion to veganism to help the environment; climate change activism can be seen in all walks of life in the UK.
This article will focus on how UK taxes are joining in on the effort to help the environment.Read More
With 51% of businesses expressing desires to expand over the next year, UK unemployment levels have fallen to its lowest point since 1974. Below are some of the fastest growing sectors for employment.Read More
This article if focused on explaining pay for UK employees and the process of reading pay slips.
As an employee you should be told by your employer how much you will be paid, the date of your payment and the medium of payment i.e. by cheque or bank transfer.
As an employee, unlike contractors or freelancers, you have the right to receiving a payslip. This can come in a paper or online form.Read More
With the ongoing US tax crackdown on US expats, comes the demand to file FBARS. An FBAR or FinCen is used to report foreign bank and financial accounts. Within the FBAR you must report all foreign bank, securities and financial instruments.Read More
The 2018-19 tax season is in full-swing and tax payers can now file there returns ahead of the 31st January 2020 deadline. It is advised by the HMRC to get tax returns filed as early as possible, to ensure that the deadline is met. As an added incentive to taxpayers, we, at Bambridge Accountants, offer a discount to those who file between April and August 2019.Read More
As an accountancy firm for creative professionals and businesses, we are always interested in promoting and sharing creative works we love.
GUAP magazine is leading the way as the world’s first video magazine. The video-magazine works to document and nurture creative talent within music, fashion, the arts and business, both locally and globally grown.Read More
Creative Industry Professionals are notoriously one of the worst for keeping on top of their taxes. The all-consuming nature of creative industry careers that often requires travelling and long-hours, makes keeping on top of taxes all that bit harder. Not to mention the complexities that can occur within tax due to cross-border trade and the unique reliefs that are available depending on profession.Read More
It’s all too easy to get lost in your taxes as a creative professional. With often more travelling and longer hours, it can be hard to find the time and resources to properly sit down and focus on where you and your business stands in relation to the HMRC.
This article focuses on bartering- the exchange of a good or service. Bartering is extremely common for many creative professionals. For example, if you are a graphic designer and you perform a design service for a catering business in exchange for their services at an event you are holiday, this would constitute ‘bartering’.Read More
Nationwide, it is becoming more and more difficult be granted an appropriate-sized mortgage. The number of people going self-employed within the UK is increasing every year, with self-employed workers now accounting for 15% of the working population (Jones, 2018).
There are a number of problems currently associated with being self-employed, i.e. the pension crisis and getting a mortgage. This article focuses on how to get a mortgage as a self-employed individual. Research has shown that 30% of self-employed homeowners feel that the mortgage process is biased (McDowell, 2018).Read More
As a self-employed consultant you are likely to have several running costs and expenses. Theses costs and expenses should be taken away from your business income to work out your profits. Not all expenses are allowable for tax purposes, it is therefore important to be aware of you what you are and aren’t allowed in order to save money against tax and avoid a HMRC enquiry.Read More
Chancellor Phillip Hammond’s release of the 2018 Autumn Budget revealed a number of changes for small business owners. Below is a brief summary of some of the changes small business owners should be aware of.
If you have stopped trading as a sole trade or you’re ending/leaving a business partnership then you must notify the HMRC. This will trigger the cancellation of your Class 2 National Insurance.Read More
Currently there are over 2,200 families on the waiting list for Kensington and Chelsea social housing. Which compared to the 11,000 houses currently available, presents a huge issue for councils finding the families accommodation. The council has already spent its entire reserves of £230m on new housing for the Grenfell tower survivors, whom all fall into their borough.Read More
Stamp duty is an area of much dispute and change in UK tax. Currently, you usually pay Stamp Duty Land Tax (SDLT) on increasing portions of your property’s price above £125,000 (for residential properties, like a house of flat).
The amount of Stamp Duty you owe can vary depending on whether or not the property is your first home and the purchase is £500,000.
Statutory accounts (commonly known as annual accounts) are financial reports that must be prepared and filed at the end of each financial year. For UK private limited companies statutory accounts are a compulsory part of the tax year.Read More
As a business owner it is important to be aware of your companies tax obligations and liabilities. There are a number of taxes that small businesses are required to pay. Below is our breakdown of the taxes you should know about as a business owner:Read More
The October 15th US tax deadline is just around the corner. Below we have put together a brief outline of how to get started and avoid the harsh penalties of the IRS’s long arm: