Archives: FAQs

We would advise you to read the notification very carefully and seek professional advice if you are in doubt, or if it is a request for information that is difficult to understand or comply with. Professional support may well be significantly helpful to you at this stage If you would like to know more, please

There could be many different reasons for an investigation. It is commonly thought that an HMRC investigation is decided randomly, but most investigations are carried out because HMRC believe that there is something amiss with your tax affairs. HMRC may use a number of sources such as the internet, banks, local authorities, news stories, etc,

You can claim all expenses incurred wholly and exclusively for business; below is list of few admin expenses which a business could claim: Rent for business premises Business rates Using your home as an office (only the business part) Water and utility bills Business Insurance Maintenance and repairs to business premises and equipment Please note:

Social investment tax relief (SITR) is the government’s tax relief around social investment and is intended to encourage individuals to support social enterprises. It helps them access new sources of finance. Anyone who make an eligible investment can deduct 30% of the cost of the investment from their income tax liability for either the tax

Yes, if you have one employee or more, you are required to register for PAYE scheme. Once you are registered for PAYE with HMRC you will then need to make all the necessary ‘RTI’ submissions. For more information, please do get in touch.

Changing your accountant is very simple. All that needs to be done once you have chosen Apex Accountants & Tax Advisors is to provide us with your former accountant’s contact details and we will do the rest for you. For more information, please do get in touch.

Cloud accounting software allows you or your colleagues access to your accounts from anywhere in the world with an internet connection. Data can be shared more easily and is not dependant on being in the office. It can be a more secure option as all staff will need to use passwords to access the software

As you might expect, there are advantages and downsides to including a car in the company accounts, however it would usually be more costly for you to include your car in Limited company accounts, because of the ‘Benefit in Kind’ taxes that would become payable. For more information, please do get in touch

Capital Gains Tax (CGT) is the tax that may be charged on the profit made when selling, gifting, transferring, exchanging or disposing of an asset. The asset could be a personal asset such as your home, or a business asset such as premises or shares in a company. Should you make a (capital) loss, you can’t

Yes, you can. You don’t have to enrol in your workplace pension if you don’t want to. Do think carefully before opting out, as it may well affect how much money you have when you retire. For more information, please do get in touch.