The UK’s decision to withdraw from the European Union will have ramifications for all people and organizations in one form or another; whether that be through the cost of material or shipping tariffs.
One industry that is likely to be massively affected by Brexit is the creative industry.
As one of the UK’s fastest growing sectors, the creative industry is generally more anti-Brexit than the rest of the country. Reasons for this include the concerns surrounding the free movement of talent, funding and Britain’s reputation throughout the world.
The likely limits to free-movement that will result from Brexit could cause problems for travelling creative professionals i.e. performers touring Europe. Visas may be required in the future which can be expensive and timely.
Already-established acts are likely to feel the brunt of the changes less, however, there are fears it will be counterproductive for up-and-coming creative professionals.
Michael Dugher, former Labor MP, has called on the government to introduce a ‘touring passport’ to get around any limitations to travel.
Foreign studios spent £1.7billion in the UK in 2017- almost double the amount spent four years previously. The majority of this money was sourced from the U.S.A., spurred on by the fall in the value of the pound after the vote to leave the EU, which made it more attractive for U.S. studios of film in the UK. If a wide-ranging free trade deal is established with the US, this trend would be likely to continue.
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:
Inspired off of the Jean Royère’s furniture designs we went to see yesterday (pictured above) in the spirit of London Design Week, we have put together a brief guide for our clients on some of the expenses you can claim as a furniture designer.
There are generally much expenses incurred while working as a furniture designer than other freelance professionals. For instance, the cost of raw materials and machinery. Raw materials and any equipment required to assemble the furniture are all claimable against tax, assuming that you are buying both.
If you are based in the UK and your employees are working abroad there are slightly rule surrounding PAYE and NIC depending on where your employees are working and how long you expect them to work there.
A confirmation statement is a form that was introduced to replace the annual return (AR01) in June 2016. The purpose of a annual confirmation statement is to verify important company data registered on Companies House to ensure it is correct and up to date.
As a business owner, you are responsible for ensuring your business is compliant and reaches relevant accounting deadlines. Your business accounting period for Corporation tax is covered by your Company Tax Return.
We have worked with thousands of self-employed Marketing Consultants on their tax returns over the years. Through our years of experience, we have developed an in-depth, expert knowledge of the claimable tax expenses and deductions available to Marketing Consultants.
The HMRC have released figure as a result of a Freedom of Information request that shows a double in reports to the HMRC tax evasion hotline for the 2017-18 tax year.
For the 2017-18 year, a total of 40m695 tax evasion reports can be counted on the hotline. This is a rise by more than double, with tax evasion hotline reports sitting at 20,200 for the previous year.
To celebrate the 100-year monument of women winning the vote, the BBC have introduced the Hear Her campaign. The campaign showcases women’s voices through a mixture of TV, radio and online to mark 100 years since suffrage and the centenary anniversary of women being able to vote in the UK.
If you are married or in a civil partnership you may be able to claim an allowance of £900 against tax as a marriage tax allowance. This is a widely under claimed allowance.
Marriage tax allowance allows couples to transfer up to 10% of their earning between them tax-free.
Payroll is a huge part of running a business. PAYE is the typical method used by employers for payroll.
What is PAYE?
PAYE is the HMRC’s system to collect Income Tax and National Insurance from employment. You are not required to register for PAYE if none of your employees earn over £116 per week, get expenses and benefits, have another job or get a pension.