Archives: FAQs

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.

Even if this it the case you will need to review your existing arrangements to ensure they meet the minimum requirements for auto enrolment. Do also bear in mind that you will need to check and review your responsibilities for employees not currently in the scheme, or new employees. For more information, please do get

Every employer with at least one employee now has to enrol their employees (subject to eligibility) into a workplace pension scheme and also contribute towards it. The employer must complete a declaration of compliance when it has enrolled its workers thus fulfilling their legal duties. For more information, please do get in touch.

Corporation Tax is tax paid by limited companies on ‘chargeable profits’. The rates are set by the government for each tax year. For more information, please do get in touch.