Can I (legally) plan to save tens of thousands in tax on my estate?

Posted by Joanne Warren 23 June 2017 10:38 AM

They say that there are only two things in life that are for certain – death and taxes. Well in the UK there is an increasing likelihood that you will experience both at the same time. As people’s wealth increases, more and more of us are being drawn into paying a death tax on all our possessions. The value of property is a major factor in all of this and can jeopardise the amount of money that people leave to their loved ones. The rates are such that it can make a major dent in your estate at the time of your death.

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Topics: IHT Tax

What do I need to know about Inheritance Tax?

Posted by Joanne Warren 24 May 2017 02:17 PM

Inheritance tax is something that often comes up in conversation. At Harlands, we speak to people who want to leave as much as they can for their loved ones, minimise their tax bills and protect their family’s inheritance from care home fees. We all work hard for what we own and don’t want to pay more than our fair share to the tax man. Inheritance tax is one way that this hard-earned wealth can be eroded by the tax system in the United Kingdom, but most people don’t know enough about it. Here is our guide on what you need to know about inheritance tax and how it affects you.

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Topics: IHT Tax

Recent changes to the VAT flat rate scheme - will you be worse off?

Posted by Joanne Warren 10 March 2017 09:15 AM

In November, the Chancellor of the Exchequer announced changes to the Flat Rate Scheme (FRS) to “tackle aggressive abuse” of the perfectly legal, government led initiative following a spike of applications to join the scheme,

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Topics: Tax

Harlands Accountants Reaction to the UK Spring Budget- March 2017

Posted by Joanne Warren 08 March 2017 02:48 PM

In the “last ever” Spring Budget, designed to build up Brexit reserves in the face of a myriad of uncertainties, no exciting announcements were expected. There was to be no major fiscal changes and instead there was to be a focus on building on an economy which appears to have been performing better than expected.

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Topics: Business Owner Tax Autumn Statement / Budget

The 4 most common mistakes when submitting an R&D claim.

Posted by Joanne Warren 06 March 2017 09:00 AM

R&D Tax is becoming a major way for UK business to receive a cash injection. It is a scheme to promote and reward the risk that UK companies take when investing in Research and Development. This government scheme is administered by HMRC and a simple form can be the key to unlocking thousands of pounds in cash for your business. At Harlands we have helped many UK businesses to claim their R&D tax allowance from the government to reinvest into their business. The average payout for our clients is around £35,000 so it can make a huge difference to a company. Some of the uses that our clients have put this cash injection to include-

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Topics: R&D Tax Tax

See how SME's are benefiting from an average cash injection of £35K.

Posted by Joanne Warren 27 February 2017 09:00 AM

It can be hard for a small business to grow. We are told that a large proportion of startup businesses fail in the first few years and one of the major issues is cash flow. At Harlands we offer far more than standard accountancy.  We believe that you can get that at any accountant. What we offer is something extra. We become a part of your team as our expert accountants get to know you, your business and your plans for the future. We then help you with the decisions you need to make your future plans a reality.

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Topics: R&D Tax Tax

Is the future really brighter by making tax digital?

Posted by Joanne Warren 11 October 2016 10:10 AM

HMRC announced a new Making Tax Digital (MTD) initiative in March 2015 and has published a roadmap and consultation documents setting out the plans to transform the tax system in more detail.

The overall aim is to make tax digital by 2020 for landlords and self employed tax payers, so that they can register, file, pay and update their information electronically, interacting with HMRC on a digital basis at any time of the year, eventually dispensing with the need to complete an annual tax return.

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Topics: Tax

Inheritance Tax - What is it all about?

Posted by Joanne Warren 14 June 2016 03:03 PM

We hear a lot of people telling us that Inheritance Tax (IHT) doesn’t apply to them or that it’s not their problem. This is understandable as people tend to imagine the tax as only impacting upon the super rich, plus that fact is that it only kicks in once you die.

However,

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Topics: Tax Business Owner

Harlands Accountants Reaction to the UK Budget- March 2016

Posted by Joanne Warren 16 March 2016 03:04 PM

As most of you will have seen, George Osborne has just finished delivering his eighth budget as Chancellor of the Exchequer. The Budget has been somewhat less hotly anticipated this year with little build up other than over than last couple of days, with a few predictions hitting the headlines.

Fuel Duty, pensions and buy to let properties were all expected to be on Osborne’s hitlist but the headline announcements were quite unexpected. We wanted to share our thoughts on the budget in this simple to read blog so here we go...

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Topics: Business Owner Tax Autumn Statement / Budget

Do I need to register for VAT?

Posted by Phil Murray 24 February 2016 06:30 PM

A common question amongst North East business owners is whether or not they should register for VAT and what is the Vat Threshold? We have produced this article to help you decide if you need to and what the benefits are.

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Topics: Business Owner Tax