Factsheets.
A library of concise summaries of information. Pick a category below or search for a specific topic — and please contact us if we can provide further help and guidance.
All factsheets
Business motoring - tax aspects
For many businesses the tax allowances available for business motoring is an important matter to consider. At Finance Wise Accounting Ltd, we can provide advice for your business in the London area.
Capital allowances
Tax relief is available on certain capital expenditure in the form of capital allowances but the amount of these allowances can vary depending on the type of asset acquired. At Finance Wise Accounting Ltd, we can provide advice on maximising tax relief for capital expenditure for
Cash Basis for the self-employed
The optional cash basis rules allow small unincorporated businesses to calculated their profits on a cash basis rather than the normal accruals basis. At Finance Wise Accounting Ltd, we can provide advice on whether the cash basis is right for your business.
Companies - tax saving opportunities
Tax saving opportunities often need to be considered prior to the year end of the company or prior to the tax year end of the individuals who are shareholders or directors of the company. At Finance Wise Accounting Ltd, we can provide pre-year end tax planning advice for your com
Corporation Tax - quarterly instalment payments
If your company is caught by the quarterly instalment payments rules, the first payment of Corporation Tax for a current accounting period will be before payment has been made for the previous accounting period. At Finance Wise Accounting Ltd, we can help check whether the regime
Corporation tax self assessment
There are a number of procedures for filing your company's tax return and paying the tax due. We set out the basic elements here but at Finance Wise Accounting Ltd, we can prepare the necessary returns and advise on the tax payments due for your company in the London area.
Fixed rate expenses
We consider an optional system of fixed rate expenses which is available for some businesses. The rules allow the use of a ‘simplified’ fixed rate deduction instead of actual costs paid or incurred. It is optional, but using fixed rates may reduce the need for some of the detaile
Homeworking costs for the self-employed
Self-employed and working from home? Some of the costs of the home can be claimed against tax and, in some cases, these costs may be considerable. We set out types of costs that may be relieved here but at Finance Wise Accounting Ltd, we can advise on maximising the relief due to
Incorporation
If you run your business as a company you may save a considerable amount of tax. However there may be disadvantages and a sole trade or partnership structure may be better. If your business is in the London area we, at Finance Wise Accounting Ltd, can show you the potential tax s
Off-payroll working and Personal Service Companies
We summarise what situations are caught by the special rules that apply to some personal service companies and the implications of the rules. At Finance Wise Accounting Ltd, we can help check whether the regime may apply to your company if you live or work in the London area.
Research and development
Research and development (R&D) by companies has been actively encouraged through a range of tax incentives including an increased deduction for R&D revenue spending and a payable R&D tax credit for companies not in profit. At Finance Wise Accounting Ltd, we can provide R&D advice
The Construction Industry Scheme
For those working in the construction industry, the compliance requirements of the Construction Industry Scheme needs to be coped with. At Finance Wise Accounting Ltd, we can assist you to comply with the onerous requirements of the Scheme for your business in the London area.