HM Revenue and Customs (HMRC) are running a campaign to help people avoid being caught out by tax avoidance schemes. This is particularly relevant to those who are contractors, agency workers, or are working through an umbrella company. GET IN TOUCH WITH OUR WIMBLEDON...
When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is an important thing to consider. Two popular options are operating as a sole trader or forming a limited company. Each of these options comes...
Businesses that are sole traders, partners of trading partnerships, and members of LLPs who pay income tax on the profits of their businesses are subject to the new basis period method of taxation. For tax year 2024/25, business owners will be subject to a tax year...
The EOACC team in Wimbledon are on a mission. Our accountants are passionate about helping small businesses, entrepreneurs, contractors, freelancers, and the self-employed to level up their businesses. We help you simplify crucial financial information and provide...
In the past, business owners have been heavily taxed when they had a business car which they also used for personal, but this is all changing with HMRC reducing the BIK (Benefit in Kind) taxable benefit to zero for 20/21 on new or unused emissions-free electric cars...
When you close down your limited company and you have Retained Earnings in your company, you could possibly claim Business Asset Disposal Relief. There are potentially big tax savings in doing this. To claim Business Asset Disposal Relief on the retained earnings of...