Read the latest industry insights from our team of accountancy and tax specialists.
Everyone seems to be talking about the new online selling rules for platforms like Vinted and eBay.
Nothing is changing from a tax perspective…..
These platforms now have to report info to HMRC but the only people it’s going to affect are the ones that should have been declaring anyway 🤷🏽♀️
The new reporting rules will cover:
☑️ selling things you’ve made eg on Etsy
☑️ selling goods you have bought eg on Vinted or Ebay
☑️ selling services such as driving a taxi, food delivery or small jobs
☑️ renting out property, including everything from part of your driveway to a holiday home.
When it comes to deciding whether or not you may have tax to pay, the first question to ask is whether what you are doing counts as a trade? If you are clearing your wardrobe or selling clothes your child has outgrown then it’s not a trade but buying clothes to sell on at a profit would be a trade.
And if you have a trade remember you have the £1,000 property or trading income allowance to use before you have to declare things 💁🏽♀️
And if you are trading and would like help with your tax return let us know and we can sort that out 💎 ... See MoreSee Less
From our family to yours, wishing you a very Merry Christmas! 🎄 ... See MoreSee Less
Merry Christmas everyone!
Our team are now taking a well deserved break with their families & friends until the 8th January.
We wish you all a very Merry Christmas and a Happy New Year. See you in 2024! ... See MoreSee Less
What is Vanessa's favourite tech ctack to manage your business finances? ... See MoreSee Less
Are you a self-employed painter & decorator?⠀
Confused by exactly what you can claim as a business expense?⠀
Here are just some of the items you can claim:⠀
🔵 Painting equipment e.g. brushes
🔵 Overalls / protective equipment⠀
🔵 Cleaning fluids⠀
🔵 Travel costs
🔵 Accounting fees
🔵 And more!⠀
For more information on how we can help you claim ALL of your business expenses, contact us: premiertaxsolutions.co.uk/contact-us/ ... See MoreSee Less
Getting organised when it comes to finances is an important part of running a successful business.
However, many sole traders fall into the trap of using one current account for both business and personal expenses.
Although you don't legally have to have two separate accounts, we highly recommend you do to help with your bookkeeping and to effectively claim back your allowable business expenses - meaning paying less tax.
For sole trader finance help, make sure to contact us on:
📞01782 479 699
✉️firstname.lastname@example.org ... See MoreSee Less
Let's talk tax! 💰
Did you know that there are multiple ways of reducing the amount of tax you pay...legally?
Unlike other accountancy firms, our main goal is to SAVE you money!
With a team of in-house tax specialists, we are always on the lookout for tax saving opportunities to help our clients retain their earnings.
Are you making the most of your tax allowances? Get in touch with us to see how we can help!
#accountants #taxhelp #smallbusiness ... See MoreSee Less