How much is corporation tax ?

If you have a limited company, you are required to pay corporation tax on your profits. This is currently 19%. You can claim capital allowances when you pay for assets that you use in your business such as cars, equipment and machinery. You can also claim capital...

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What you need to know about pensions for your employees

If you employ people who are paid through your company payroll then you will need to organise a pension for them.  This is known as a workplace pension or auto-enrolment, you may have seen the ad on TV reminding you about it. How the workplace pension scheme works? A...

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Managing your receipts quickly and easily

Managing your receipts quickly and easily is something that can be done using the Receipt Bank app to take photos of receipts so that they can be held safely online.  Watermill Accounting is working with the Receipt Bank to offer this free service to all clients who...

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What you need to know about your personal tax return

Filling in your personal tax return form can feel a little daunting, so what do you need to know about your personal tax return?  Firstly all company directors of UK companies need to fill in a personal tax return, the deadline of which is 31st January 2018 if you do...

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Could State Aid impact your R&D tax credits?

State aid When taxpayer-funded resources are used to provide assistance to one or more organisations in a way that gives an advantage to them over their competitors. Some state aid is illegal under EU rules because it distorts competition in a way that is harmful to...

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Get Paid for Being Innovative

Most companies do not know that they could claim tax relief of up to a third of their R&D spend Less than 2% of eligible companies claim R&D tax reliefs. This is unfortunate as they could be getting a cash injection amounting to thousands of pounds.  See...

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British Accountancy Awards

The British Accountancy Awards are regarded as the industry’s most prestigious accolades. They pinpoint professional development and highlight those that have demonstrated excellence in their profession during the last 12 months. With our hard work and support from...

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Mortgage Interest Tax Relief

Mortgage Interest Tax Relief This had ceased for homeowners over 15 years ago, but landlords continued to receive it allowing them to deduct costs incurred when calculating the tax paid on rental income - of which a large portion was mortgage interest payments. The...

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Brexit and UK Trade

Will Brexit affect trade with the United Kingdom? The UK’s global and European role following the Brexit referendum has been subject to much debate with, public reaction polarised between anxiety and optimism. For businesses however the UK continues to be a great...

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