If you’re already VAT registered but your sales have dipped below the VAT threshold then is it worth staying VAT registered? Here’s some things to think about. Advantages of staying VAT registered You don’t have to worry about whether you need to register for VAT! An author’s earnings can be Read more…
It can be tempting to set up a new company whenever you have a new business idea – like a joint venture with another author. But, you need to be aware of the associate company rules, which can significantly affect the amount of tax you pay. What are Associate Company Read more…
This wasn’t a particularly radical Budget but, after 13 years in power, you’d expect tax policy to already be broadly in line with the political outlook of the Government. And radical didn’t go particularly well for the last guy… Here’s the main things we’d highlight for our writer clients. Increase Read more…
The deadline for paying self assessment tax for the 21/22 tax year was 31 January 2023. Interest is payable on any late payment but there’s also a whopping 5% surcharge due on any unpaid self assessment tax which is still unpaid at midnight on 2 March 2023. If you can’t Read more…
The Financial Services Compensation Scheme (FSCS) is a government-backed scheme that protects consumers in the event that a financial institution fails. The limit of compensation per financial institution is £85,000 so, if you have more than this in one account, you need to look at spreading your investments across multiple Read more…
If you do not submit your tax return on time or pay the tax you owe, there are several penalties, interest, and surcharges that you may be subject to. Penalties: If you file your tax return late, you will be charged a fixed penalty of £100. This penalty applies even Read more…
We hope you all have a lovely Christmas and a Happy New Year. Thanks for all your support over the last 12 months. We’re not sending out Writer Tax Christmas Cards this year and have made a donation in support of The Trussell Trust.
Getting an pure electric car can have some great tax benefits if you run your own company. Here’s a quick summary Tax relief on the cost of the car If you buy a new electric car then you get the full cost of the car set against your profits in Read more…
We were absolutely delighted to pick up the awards for New Firm of the Year and Specialist Team of the year at this year’s prestigious Accounting Excellence Awards in London. We’re only a really small firm so we really didn’t expected to win against such strong competition.
Writers Tax is two years old today. The time has just flown by. And to add the icing on the cake we’ve been announced as 2022 finalists in the prestigious Accounting Excellence Awards in not one but two categories. We’ll finalists for the New Firm of the Year and the Read more…