News & Publications

Up-to-date tax news and articles that help you grow your business and personal wealth.

Welcome to the CMJ Accountancy news & publications pages. Here you will find all the latest news regarding business, tax and accountancy and the latest updated from us here at CMJ Accountancy.

If you have any questions about any of our articles or posts please do contact us.

Taking on an employee – the tax reliefs

Taking on an employee might seem very daunting but there are some great tax reliefs which make it cheaper than you may have thought. Let’s say you wanted to take on a junior and give them a salary of £19,200 a year which is £1,600 a month. This would work out on average as follows: £1,334.38 would be paid to your employee £153.18 would be paid in PAYE to HMRC £112.44 would be paid in Employee’s National Insurance Contributions (NIC) to HMRC £0.00 in Employer’s NIC due to the Employer’s...

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Self Assessment 2013-14

Christmas will fast be up-on us and one of the last things you may want to be thinking about is your personal tax return. However……. ………it is due by the 31 January 2015. Do you really want to leave it until the last minute? Get it done now, in the next two weeks before the end of the year and start the new year with no tax headaches. Get in touch today for more information and to get your return out of the way so you can enjoy the festive period.

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Moving house? Change of address process and our Registered Office service

When you move home there is so much to think about, one of the last things on your mind might be ensuring that HMRC and Companies House have the correct address for your business. We like to help as much as possible at a stressful time like this and if you simply update us with your new address we will update Companies House and HMRC for you and we don’t charge anything for the service. If like many people you are currently renting and therefore find yourself moving around once or twice a year...

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VAT Flat Rate Scheme – Buying assets over £2k to claim back the VAT

The vast majority of freelance contractors in the UK are registered for the VAT Flat Rate Scheme (FRS). This allows them to keep a percentage of the VAT that they have to charge to their clients which gives them an extra income stream without having to do any additional work. On average the extra income ranges between £3,000 to £4,000 per year. However the cost of using the VAT FRS over the Standard Scheme is that you are not allowed to claim any VAT back on your expenses like you can with the...

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Switching from sole trader to limited company

There are a number of reasons why someone might start freelancing as a sole trader; firstly their can be a tax advantage if you believe you will make a loss in your first year. Secondly you may just be dipping your tow in the freelance world to see if you like it. However when you realise it is for you, the limited company route has a large number of tax advantages and the benefit of protecting your personal belongings – if a limited company is sued, your personal belongings – house etc....

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