Pharmacy Accountants

News & Articles


The Budget – 2012
George Osborne delivered his third budget on 21st March 2012, many of his proposals will not take effect until 2013/14.
A Free Pension?
In reality, no one is going to get a free pension, but some individuals can get very close to it...
A Festive Tax Break
As Christmas approaches thoughts turns to office parties. So what view does the tax man take when an employer arranges a Christmas party for their staff?
Self Assessment Penalties
The self-assessment system was introduced in 1996 and at present HM Revenue & Customs require about 10 million individuals to file returns each year.
Should I Incorporate?
This is a question we are frequently asked by locums. The answer is “it all depends”.
The 1000% Tax Trap - And How To Avoid It
Imagine getting a pay rise of £1,000 per annum and then finding your tax liability increasing by £1,055, that’s over 100% tax. Now imagine your pay rise is just £100 but your extra tax liability is still £1,055. That’s a tax rate of over 1000%!
Pharmacy Locum Tax Planning
At what point should a sole trader pharmacy locum consider operating via a limited company? The answer to this depends on a number of factors, which are specific to the individual.
2010/2011 Tax Year End Planning
February is a good time for individuals to have a think if there are any simple steps they can take to minimise their tax liabilities.
New Pension Regime - Government Announcement 9th December 2010
We detailed the key points arising from the Government's announcement on 9th December 2010 regarding the future direction of pension provision in the UK.

 

Small Business Tax Review

“The Government remains committed to a review of IR35 and small business tax and will release further details shortly.”

On 23rd June 2010 the Daily Telegraph reported Small Business Minister, Mark Prisk, saying that IR35 will now be abolished. He went on: -

“we want to make sure that we could undertake a comprehensive review of small business taxation in a way that makes the need for the current IR35 legislation redundant."

"But we want to make sure that whatever we change is a lasting settlement. One of the problems with IR35 is that it’s a constantly changing set of rules”

Via a series of articles to be published in our new website www.smallbusinesstaxreview.co.uk we intend to keep interested parties such as Locum Pharmacists, Computer Contractors, IT Consultants and Management Consultants up to date. We will also go further by looking further afield than just IR35, we will look at what is wrong with small business taxation and we will suggest ways to address these problems.

Should you have any queries or wish to discuss any of the points raised, please contact Tim Warr on 0161 477 6789.

Date of Article: 1st July 2010


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