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After 5 April 2020, a whole raft of 2019-2020 tax planning options for individuals will cease to be available. These cover a multitude of opportunities to reduce your liability to Income Tax, Capital Gains Tax and... read more

The world is changing and the business world is no exception. Once accounting ledgers were written longhand in copperplate handwriting but now no one would think of recording transactions that way. In the 21st century,... read more

HFM Tax & Accounts have joined a select group of Quickbooks accountants by becoming one of the first QuickBooks Elite ProAdvisors in recognition of our experience and expertise as a QuickBooks accountant. We now have access... read more

Apart from being good for the environment, being able to write-off the cost of an electric car in the year of purchase is very appealing to businesses as it boosts your cash-flow. Since electric cars have... read more

In general the most efficient way to extract profit from a limited company is through a mixture of salary and dividends as follows: Salary to the National Insurance threshold (currently £8,632) or Income Tax threshold (£12,500).... read more

Changes to private residence relief (PRR) which have already been announced are planned to come into effect next year. You should be aware that if you rent out all or part of your home this may... read more

How can you reduce the SDLT and income tax you pay on jointly owned property rental income? If you own a property jointly with your spouse - one of you being a higher-rate taxpayer and the... read more