It is without question that your Personal Tax Account will be the single most important account you will ever have when interacting with HMRC, and a must have!!
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MTD ITSA & Making Quickbooks Work For You
MTD ITSA & Making Quickbooks Work For You. MTD for Income Tax Self-Assessment (MTD ITSA) is set to roll out from April 2026, and will cover all unincorporated business and landlords for Self-Assessment with annual business and/or rental income over £50,000.
Business Financing via Business Loans
Business Financing via Business Loans. If you are considering generating extra funds to run your business, then one option is a business loan. The loan that will be offered to you will depend on your business and its funding needs and will need to be repaid back with interest.
Apron: What could be simpler than that?
A very clever solution for small businesses that are looking for ways to streamline payments. It takes the pain out of supplier payments with a reduction in risk, a reduction of man hours, and an increase in efficiency. In a nutshell, : What could be simpler than that?
JT AccountS – Newsletter Issue 7
THIS NEWSLETTER TOPICS: Apron, MTD ITSA & Making Quickbooks Work For You, ESTATE PLANNING FOR BUSINESS OWNERS, Personal Tax Accounts
A Director’s Loan – What do I need to know?
A director’s loan is typically when you receive money from your ‘close company’ that is not a salary, dividend (money you can draw from your company on declared profit), a repaid expense, or money that you have previously given to or loaned your company. We say typically because a director can also loan money to their company, and this is covered later in this article.
Magic & Miracles (S01E04) Daisy Dialogues
Magic & Miracles: This episode comes the unique timing of things, looking at the unexpected and all those magical stories.
It Was There We Just Didn’t Know It (S01E04) Topside Talks
It Was There, We Just Didn’t Know It: What is an LPA? When stealing was our only option and do you have a Will?
Where’s The Password? (S01E03) Daisy Dialogues
Where’s The Password?: Covering sharing information that is not commonly shared, things to talk about when you still have the opportunity and nothing stops when you pass on.
Getting a Second Opinion (S01E03) Topside Talks
Getting a Second Opinion: How not to be afraid of using private health care, knowing you have the right to say no and remembering it’s okay to get it wrong!
The Treatment (S01E02) – Topside Talks
This is a snippet of how to process the treatment along with the patient. Things we could have done better, and stuff we wish we had known to make our lives easier.
Mummy Can I Come? (S01E02) – Daisy Dialogue
With guest ‘Jordan’, we talk about children and their place when it comes to losing a loved one. Should they attend the funeral?
To Be Or Not To Be…There (S01E01) – Daisy Dialogues
To Be Or Not To Be… There: Looks at how everyone sees this moment differently and “Never let the fear of striking out stop you from playing the game”
The Diagnosis (S01E01) – Topside Talks
The Diagnosis: This is a snippet of how we reacted to our loved ones receiving a terminal diagnosis. Things we could have done better, and stuff we wish we had known.
JT AccountS – Newsletter Issue 6
THIS NEWSLETTER TOPICS: Helping businesses tackle the current financial climate! – Director tax-efficient salary recommendations – The New Basis Period Reform – Voluntary National Insurance Contributions – Today not Tomorrow!
What can UK businesses do to navigate their way through the current financial climate!?
The World Economic Forum has identified the cost-of-living crisis as the number-one global risk for the next two years.
Director tax-efficient salary recommendations
Director tax-efficient salary recommendations, when is comes to starting a limited company.
Voluntary National Insurance Contributions
Voluntary National Insurance contributions can help make sure you have enough qualifying years to get the full State Pension. You need to make full contributions for a total of 35 years to obtain a full state pension.
What is Today not Tomorrow?
No one likes to think about it but that doesn’t change the fact that we are going to get old, if we are lucky, and if not sooner than later, die!
Are you missing out on the Marriage Tax Allowance break?
The marriage allowance is a tax break that allows an individual to give up 10% of their personal allowance (£12,570 in 2023/24 so the amount is £1,260) to their spouse or civil partner.
What is the Basis Period Reform?
With only 6-months remaining before the Basis Period Reform comes in to force this is a MUST-READ article that explains what “basis period reform” is, who is affected by it, and what actions you should take to report your taxable profits to HMRC correctly.
PODCAST: Topside Talks Teaser
Upcoming Podcast Topside Talks Teaser Trailer!
What can you expect from JT AccountS® when you engage us to handle probate?
All our contracts start with an informal chat with potential personal representative.
Inheritance Tax Calculator
Inheritance tax paid on what you leave behind to your heirs, and they could pay as much as 40% tax on what they inherit. The good news is that there are lots of ways to cut down your bill, which we’ve explained in full in our guides to inheritance tax.
Stamp Duty Land Tax Calculator
Stamp Duty Land Tax (SDLT) is a tax on properties bought in England and Northern Ireland.
Directors National Insurance Calculator
Directors‘ national insurance. A director’s NI normally calculates differently to that of a normal employee which always calculates on a non-cumulative basis.
PAYE Calculator
Use this calculator to calculate your take home salary. It will show you PAYE, NI and Net Salary.
Estimate Income Tax Calculator
Use this service to estimate how much Income Tax and National Insurance you should pay for the current tax year.
Self-Employment Ready Reckoner
If you are self employed, you can use the HMRC self employed ready reckoner to help budget for your tax bill.
National Insurance Calculator
If you’re an employee, you’ll need to pay Class 1 NICs on your earnings. This National Insurance Calculator can help you work out what that contributions should be.
JT AccountS – Newsletter Issue 5
Topics:
Spend less time chasing payments and more time focusing on your business
Thinking of hiring from the EU?
VAT Deferral New Payment Scheme
Are you missing out on the Marriage Tax Allowance break?
When Wills, Lasting Power of Attorneys and Probate really come into their own!
Network Partners: Meet Maro Of UW
Two years into my switch to UW I did an analysis exercise on what I would have paid if I had not changed. At that time, which was May 2020, I had saved £1418.58.
Understanding The Domestic Reverse Charge
Following two previously announced delays the new Domestic Reverse VAT Charge (DRC) for Building and Construction Services will come into force on 1 March 2021.
JT AccountS Newsletter Issue Four: September 2020
TOPICS: Business Bounce Back Loans Property Taxes - April 2020 changes landlords need to be aware of Educate the ExecutorOther Covid-19 Daily Updates:Practice Number: 21331Jacqueline Tetley is licensed and regulated by AAT under licence number 5096.
JT AccountS Newsletter Issue Three: December 2019
JT AccountS Newsletter Issue Three: Published December 2019
JT AccountS Newsletter Issue Two: October 2019
JT AccountS Newsletter Issue Two: Published October 2019
JT AccountS Newsletter Issue One: June 2019
JT AccountS Newsletter Issue One: Published June 2019
Furloughed Workers
The government announced its plans for financial assistance to help employers retain employees for an extended period of time.
A Letter From The Founder
Please forgive any awkwardness you feel when reading this letter. At heart, I am a very private person…
The Queen’s Coronavirus broadcast: ‘We will meet again’
Her Majesty Queen Elizabeth II delivers a special broadcast to the United Kingdom and the Commonwealth in relation to the coronavirus outbreak.
JT AccountS® Lasting Power of Attorney Booklet
What is a Lasting Power of Attorney? A Lasting Power of Attorney (LPA) is a legal document that allows someone to make decisions for you, or act on your behalf, if you’re no longer able to or if you no longer want to make your own decisions.
JT AccountS® Probate Booklet
Following a death, it can be a confusing time and difficult to know what you need to do first.
JT AccountS® Making A Will Brochure
Making a Will is vital if you want to be certain that your wishes
are met.
Find Your Banks Coronavirus Support Page
There is a lot of information being thrown around when is comes to the financial support you can get from the goverment to assist yourself or your business through Covid-19. Although many new legislations have come through, the process of implementing them are not as...
Join JT AccountS’ Educate The Executor Forum
The ‘Educate The Executor™ Forum’ has been set up to educate, support and inform existing or potential executors and administrators. It is also to support the bereaved and anyone that has suffered a loss.
Covid-19 Late Self-Assessment Support
On 26 March 2020, Chancellor Rishi Sunak announced assistance for the self-employed, intended to be comparable to the help already in progress for furloughed employees. At the time of writing the fine detail is still emerging, but the basics are in this article.
COVID-19 VAT Payment Deferrals
Following Chancellor, Rishi Sunak’s announcement on 20th March 2020 that VAT payments are set to be deferred to help businesses through the COVID19 pandemic, we take a look at the most commonly asked questions our Advice Line has received so far.
Self-employment Income Support Scheme
Self-employment Income Support Scheme
This article was written by Croner Taxwise and permission has been provided to share. On Thursday 26 March the government announced their intention to provide further support for the self-employed in the form of a taxable cash grant.
Long Term Investing By Amaka Ogbonnah
Stock markets will always have ‘ups and downs’ in the short term. It’s called volatility, and sometimes the falls can be significant.
However, history also shows us that stock markets tend to rise over the long term, despite short-term fluctuations.
Inheritance Tax – What is your Current Allowance?
The current inheritance tax (IHT) allowance whereby no inheritance tax is charged is on the first £325,000 (per person) of someone’s estate – which is the value of the total assets they leave behind when they die (or 36% if leaving at least 10% to a charity). Couples can leave a home worth £650,000 without it attracting inheritance tax (singles £325,000). Above the threshold, the charge is 40%. This remains unchanged.
Self-Assessments – Why Plan Ahead?
A Self-Assessment tax return declares all your income for the tax year, including income that has already been taxed at source. If you have paid too much tax during the year you’re likely to receive a rebate. The tax year for every individual in the UK runs from 6th April to the 5th April of the following year. Please note that a Self-Assessment tax return is completely separate to a company tax return.
Corporation Tax – Are You Paying More Than You Need To?
Corporation Tax is a bit like Income Tax for companies, but the difference is that companies don’t have a personal allowance. This means that as soon as your business starts making a profit, it needs to start paying Corporation Tax at the Corporation Tax rate (unless it’s previously made losses).
Probate & Estate Administration – Are you Benefiting from our Certainty Services?
Whether an accountant already has a strong knowledge of the deceased’s financial affairs or if you have not worked with that accountant before, the combination of accounting, tax, law and administration skills required means they are often well placed to carry out this kind of work.
Accounts Done Right Sleep at Night!
Picture this, December is almost over and January is fast galloping into sight bringing with it HMRC’s 31st January self-assessment deadline!
We Are STEP Approved!
When you instruct JT AccountS to work on your Wills, Trust and Estate Administration, it means you can be confident that we possess the specialist knowledge and skills required to carry out your wishes. You can be assured that you will be in expert hands and we are taking all the necessary actions to plan for the future of your assets.
What does Certainty mean?
There comes a point in most people’s lives when they start to think about planning for their later years and eventually for when they leave this life, especially if they have dependants.
Are You MTD Ready?
This initiative has already come into force for VAT-registered businesses with a taxable turnover above the current VAT threshold of £85,000. For VAT periods that started on or after the 1 April 2019, these businesses are now legally required to keep records digitally and use software to submit their VAT returns. There are a number of companies who may be exempt from this with a later start date of the 1 October 2019 and we can advice if this applies to you.