Stewart Associates (Shrewsbury) Ltd
Emstrey House (North), Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.

Telephone: 01743 235236   Email: ian@saltd.co.uk

Ian Stewart's Blog

4 April 2017 Director salary levels 2017/18

Attached is our spreadsheet tool to help you decide the appropriate salary level for 2017/18. Some variables:-

  • The Employment Allowance [EA] which enables a company to not incur Employers ...  Read more >>

     

    10 March 2017 Tax Matters - re April 2017

    Well the post Budget announcements were distinctly lacking in drama to the extent the Taxation Magazine Article published today is headed "Is that it?" As usual there are pages of documents...  Read more >>

     

    1 March 2016 Incorporation of a property business

    Property investors are being hit this year with a 3% SDLT charge and with effect from 2017 with a restriction in the tax relief on loan interest. Consequently many are considering incorporating their...  Read more >>

     

    22 December 2015 On a seasonally lighter note

    If you have trouble sleeping you may want to read one of the really interesting Factsheets on our Website. Money Laundering is particularly thrilling http://www.saltd.co.uk/AccountantsInfoSheets/Mo...  Read more >>

     

    17 December 2015 Phoning HMRC (courtesy of a newspaper article)

    Calls to the Taxman take more than half an hour to be answered and more than an hour in the evening, an investigation found. More than 100 calls to HM Revenue and Customs' self-assessment and general...  Read more >>

     

    4 December 2015 Car or commercial vehicle

    Most people are aware that a company provided commercial vehicle is generally more tax efficient than a car but what is a commercial vehicle for tax purposes. HM Revenue and Customs provide a list of...  Read more >>

     

    30 November 2015 Autumn Statement 2015 summary

    Apart from the much publicised SDLT charge on all second properties there was little of note in the Autumn Statement although I suggest we should be wary of what may still appear in the Spring Budget ...  Read more >>

     

    16 November 2015 Workplace Pension Auto-Enrolement


    Where auto-enrolment applies it is not optional. An employer must enrol all eligible employees into its workplace pension. The only exception is where employees voluntarily opt out. However, there...  Read more >>

     

    24 March 2015 Rental income - deductible expenses

    Tax deductible costs How you categorise an expense can mean tax relief being delayed or lost altogether. A good example is expenses linked to property purchases. These usually count as part of th...  Read more >>

     

    7 March 2014 Household bills as a tax expense

    As a tax advisor I am commonly asked if tax relief can be obtained on household expenses when working from home. When the work is performed through a limited company the business is entitled to pay a...  Read more >>

     

    6 March 2014 Entrepreneurs Relief Has the business ceased?

    Mr Rice ceased one business selling sporty used cars because of vandalism and after a short gap started selling family cars from a new site nearer to his home relying on internet introductions. When t...  Read more >>

     

    5 March 2014 Household bills as a tax expense

    As a tax advisor I am commonly asked if tax relief can be obtained on household expenses when working from home. When the work is performed through a limited company the business is entitled to pay a...  Read more >>

     

    5 March 2014 New timetable for RTI penalties

    HMRC have announced a new timetable for their introduction. Under the revised proposals, automatic in-year penalties where returns are filed late will now take effect from October 2014, but automatic ...  Read more >>

     

    4 March 2014 The £2,000 Employment Allowance from 6th April 2014

    The new Employment allowance which provides relief from paying employers NIC on the first £2,000 of contributions starts 6 April 2014. For many employers the benefit of the £2,000 relief w...  Read more >>

     

    3 March 2014 Approved mileage rate

    While the Approved Mileage Rate of 45p for the first 10,000 miles has applied since 2011/12 the fuel only rate changes quite consistently. As the title states this is advisory and can be used for cla...  Read more >>

     

    26 February 2014 Rate of Corporation Tax and Associated Companies

    The small company rate of Corporation Tax of 20% applies to profits up to £300,000. The main rate of Corporation Tax in 2010 was 28%. In the year commencing March 2014 the main rate will reduce...  Read more >>

     

    21 February 2014 Some 2014/15 statutory payment rates

    he government has announced some of the 2014/15 statutory payment rates that take effect on 6 April 2014. From then: Statutory sick pay (SSP) will go up from 86.70 to 87.55 p.w. Statutory maternity ...  Read more >>

     

    21 February 2014 Directors Loans

    In 2013 HMRC tightened the rules on Directors Loans which ate repaid and subsequently advanced. However these rules do not apply where the loan is less than £15,000. Husband and wife are indep...  Read more >>

     

    20 February 2014 Employee Shareholder (ES) Status

    The employee shareholder (ES) status became available on 1 September 2013. In return for sacrificing some employment rights, the chief benefit is that gains on ES shares are exempt from capital gains ...  Read more >>

     

    14 February 2014 Help with school fees?

    A politically sensitive subject and generally a definite non-starter. However if the child's grandparents are able to subscribe for shares in the parents' company, at market value, and if the grandpar...  Read more >>

     

    13 February 2014 Employment Allowance

    The Employment Allowance will give employers a £2,000 reduction in NICs from April 2014. Draft arrangements have been issued by HMRC which set out how employers should claim the Employment Allowa...  Read more >>

     

    3 February 2014 Pensions Auto enrolment

    The next stage will be to roll out Auto-enrolment to employers with between 50 and 249 employees between 1 April 2014 and 1 April 2015. The precise date will be assigned by the Pensions Regulator. Emp...  Read more >>

     

    27 January 2014 Growth Vouchers now accepted

    The government has launched a £30 million research programme to test the value to small businesses of accessing professional advice. The subsidised business support will be delivered in the form ...  Read more >>

     

    14 January 2014 Statutory Residence Test indicator updated

    HMRC have released an updated version of the Tax Residence Indicator tool, which helps taxpayers determine their residence status in the UK for tax years 2013/14 onwards for income tax or capital gain...  Read more >>

     

    13 January 2014 VAT and Sports clubs

    The European Court of Justice has ruled that green fees charged to non-members at a not-for-profit members-owned club should never have been liable to VAT. Many not-for-profit sports organisations pu...  Read more >>

     

    8 January 2014 An alternative source of business finance

    Apparently "The Government is lending 20 million pounde to British businesses through Funding Circle". This comment is not our endorsement of this source of finance but a pointer in case...  Read more >>

     

    8 January 2014 Self Assessment Late filing penalty excuses not accepted by HMRC

    The oddest excuses for late filing recently published by HMRC! (they all received a £100 penalty!)

    1. My pet g...  Read more >>

       

      7 January 2014 DocSafe

      Welcome to our system for securely transmitting documents electronically to Clients. This will be of particular benefit for viewing and approving Self Assessment Tax Returns during the January fili...  Read more >>

       

      13 June 2013 Employer provided benefits and form P11d

      Having filed end of year PAYE Returns and negotiated the introduction of RTI we are now filing the P11d Returns. If your company may provide a taxable benefit to any director or employee which sho...  Read more >>

       

      21 March 2013 RTI - Real Time information for PAYE

      With effect from April 2013 ALL payments of Wages and Salaries have to be reported to HMRC before or at the time they are made.

      For businesses running payroll for emp...  Read more >>

       

      10 December 2012 Gifts at Christmas

      It is not uncommon to be asked the tax efficient value of gifts which can be given to customers at Christmas. The answer has to consider the tax position of the company making the gift and perhaps ...  Read more >>

       

      10 December 2012 Child Benefit Taxation

      Yet another fine mess...

      For very many years Child Benefit has been paid (primarily) to mothers of children as a tax free benefit. In their wisdom the government have decided that...  Read more >>

       

      10 September 2012 Standing Up for Taxpayer's Rights

      The letter dated 29th August 2012 from the HMRC pre-Tribunal Independent Review Service is the culmination of nine months debate ...  Read more >>

       

      20 June 2012 Thinking of investing in a business or do you require business investment?

      The Enterprise Investment Scheme (EIS) has been with us for some time and available to provide Income Tax and Capital Gains Tax relief to an investor taking less than a 30% stake in a trading compa...  Read more >>

       

      21 May 2012 HMRC IR35 Update

      HMRC have now announced guidance on how they assess whether IR35 may apply to a service company.

      Our spreadsheet<...  Read more >>

       

      16 April 2012 What is Added Value?

      Ever since the expression "Added Value" appeared in the world of accountancy I have been keen to ensure it is something we do. But what is it and how do you assess it?

      I have been readin...  Read more >>

       

      22 March 2012 Budget March 2012

      I watched the Budget speech and have now read the first tranche of official Press Releases which often contain items not referred to in the speech. As usual I am not covering the main topics which...  Read more >>

       

      11 March 2012 The end of the tax year 2009/10 is fast approaching.

      Thoughts for the shareholder/director Have you maximised dividend withdrawals from your company? There is a spreadsheet tool on our website you can use although you may require guida...  Read more >>

       

      18 November 2011 Celebrating 30 Years in Business

      On the 18th November 1981 a 28 year old Chartered Accountant (and Chartered Tax Advisor), Ian Stewart, set up in practice as a Tax Consultant working from home . Initially providing tax advice to pro...  Read more >>

       

      4 May 2011 May 2011 Update

      Employer provided benefits and form P11d
      HMRC are quite busy inspecting employers' records looking in particular at benefits-in-kind provided by employers not reported on form...  Read more >>

       

      24 March 2011 Budget March 2011

      Having waded through the 240 pages of the Budget Notices I have extracted some points which may be of interest and disregarded the obvious headlines and remote or technical issues.

      Read more >>

       

      18 March 2011 Nursery Fees & Cycle to Work

      Nursery Fees

      I have mentioned on several occasions that a limited company can contract directly with a nursery and pay fees up to £55 per week which are tax deductible to th...  Read more >>

       

      8 November 2010 Impending VAT Rate Change

      Most of the information supplied below is relevant to businesses supplying the general public although we are all of course a consumer in our personal lives .

      It is important to note t...  Read more >>

       

      22 June 2010 June 2010 Budget Statement - Initial Comments

      I have read through the Budget Notes and the Guidance and Technical Notes I will not repeat the rates allowances and headline items which are widely reported in the media. If you require any e...  Read more >>

       

      9 April 2010 Potential VAT Recovery

      There are two situations, albeit remote for most of us, where due to a change in the interpretation of the law it may be possible to pursue VAT reclaims VAT on Postal Services The Europ...  Read more >>

       

      24 March 2010 Budget Information March 24th 2010

      The Budget information is available from the pages at http://www.hmrc.gov.uk/budget2010 . There really are a multitude of announcements w...  Read more >>

       

      17 March 2010 VAT Rate Change - Beware!

      I am sure everyone is aware the standard rate of VAT went back up to 17.5% from 1st January 2010 although we find not everyone has made the appropriate amendment throughout their accounting system. C...  Read more >>

       

Contact Us

    01743 235236




    Ian Stewart's Blog

      4/4/2017

      Director salary levels 2017/18

      Attached is our spreadsheet tool to help you decide the appropriate salary level for 2017/18. Some ...  Read more >>


      10/3/2017

      Tax Matters - re April 2017

      Well the post Budget announcements were distinctly lacking in drama to the extent the Taxation Magaz...  Read more >>


      1/3/2016

      Incorporation of a property business

      Property investors are being hit this year with a 3% SDLT charge and with effect from 2017 with a re...  Read more >>



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