FD Analytical – Chartered Management Accountants

The UK tax system is one of the most complex within the world, all clients of FD Analytical receive a full business and personal tax review, to ensure that tax liabilities are kept to a minimum.  For your own, complete, personal tax review contact us today, in the meantime, we hope you enjoy reading and applying some of our simple (but very effective) tax saving tips.

Tip #1 – Working from home?


If your business is home based, allows a measly £4.00 per week as a standard rate for the business to use your home. This allows taxpayers an annual charge of just £208.00 (52 x £4). It’s a really simple way of calculating a “home office” charge, but in reality this charge could be a LOT more and therefore, get you much more tax relief.

An alternative method of calculating the cost of running your business from home is to add together all of the costs of running your household, such as; rent, utilities, insurances etc. and multiply this by the estimated % of the house that your business occupies.

Try it at least once to make sure that you’re not losing out – but remember to keep your workings and calculations for HMRC.

Tip #2 – Use your own vehicle for business?

Keep a full record of all of the business miles that you complete in your own, personal vehicle, we recommend simply using a diary and each time that you complete a business journey include; the total number of miles, where the journey was to (and from) and why it was business related. Doing this will allow you to reduce your taxable profits by; 45p per mile (for the first 10,000 miles completed each year) and 25p per mile (for all miles over and above 10,000).

In contrast to the above, rather than claim tax relief “by the mile” it is possible to calculate the business use of your own vehicle by totalling the annual costs of running your vehicle, such as; insurance, servicing, repairs, fuel etc. and multiplying this by the proportion of the vehicle that you use for business purposes.

Ensure that you do this exercise at least once to ensure that you’re not paying too much tax.

Tip #3 – Always check your tax code

For the 2016/17 tax year, the standard tax code is 1100L – this means that you are entitled to earn £11,000 per year without paying ANY tax.

If this isn’t your tax code, make sure that you understand why or you may be overpaying tax.

Tip #4 – ALWAYS hit the deadline(s)

HMRC’s deadlines for late filing of tax returns are now more severe than ever, for example, miss the self-assessment filing deadline by just 1 day and HMRC will charge you a penalty of £100.00, miss the filing deadline for VAT by just one day and HMRC may charge you 15% of the total VAT charge!

Planning and preparing your tax return in advance will allow you to “tax plan” much more efficiently AND save you £’s in fines and penalties.

Tip #5 – Get a pension (or increase contributions to your current pension)

Despite many of the historic tax perks now being removed, pension contributions are still treated very favourably from a tax perspective. Contributing to a company or personal pension scheme is one of the most tax efficient things that can be done, for example;

Every £80 that you save into your pension you’ll get £20 tax back, increasing your investment to £100. If you’re a higher rate taxpayer you can claim back an extra £20, so every £100 investment will cost you just £60.

BONUS TIP – Get a GREAT accountant!

A great accountant could be one of the most tax efficient investments you could make, payment to an accountant for an annual tax return should save you significantly more in tax, than the fee that you pay.

Why not contact FD Analytical accountants and we can talk to you in more detail about fantastic tax saving strategies that we can apply to you and your position.

Web: Content Provider Wirral Accountants


Best Gold IRA Company Reviews

Gold IRA Company Reviews 2016

Investing for an individual retirement account (IRA) must be decided wisely.

It entails trust and reputation if you are going to make your investment. One of the possessions of a person that they usually invest in is gold. It has a high value with high demand and indeed a great investment for your retirement period. That possession of yours must not be entrusted to just any of the company.

Why Invest in Gold

The Gold IRA Company Oatman Gold conducted reviews to help people make a right decision in choosing the trusted company that is worthy of their gold. The reviews that you are about to serve must be taken seriously and with a huge consideration to the benefits and disadvantage of the particular company.
First in line for the review conducted by Gold IRA company is the Lexi Capital. It receives a rating of A- having only one complaint since founded in 2010. Trust link also did one review for this. Considering its years in service, it may not suffice the needed time of experience to cater a healthy serving to other people. That may Cause an element of risk for you; If has your gold investment in this company.

Above the rating of the Lexi, Company is the American Bullion Inc. It has “A” rating. However, it receives 15 complaints, much higher than Lexi Company. It receives three reviews from Trust Link. They also achieve good reviews from their customers. However, they have the same risk factor as Lexi; this could be a nuisance in this kind of industry. It gives the high risk of trust in this company.

Gold Ira Company Reviews

Merit Financial Services is far above the two. It has a rating of A+ with 500 reviews in Trust link. But it has 60 complaints for over three years. The sad thing about them is they do not give discounts with bigger order size. They have a long period of waiting and high rate of shipping in spite the small orders. They may probably eat up some of your money while waiting for so long for your order.
Next in line is the Capital Gold Group. It has a rating of A+ having 17 complaints in the past six years. They also gained five stars because of the company’s 121 reviews. Despite that, it has still complaints because of some miscommunications concerning the type of ordered coins and fees for management aspect.

We are already taking four reviews from different companies. But you were probably looking for the best that you deserve. Do not lose hope because Regal Assets, LLC is still there for you. Their review will probably blow your mind with their credentials and quality servicing. The company has the rating of A+ for about more than 170 reviews. They also achieve a 5-star rating from Trust Link. Another surprising fact about them is they only have two complaints for the last five years. The company already gained experience that makes them the best from other businesses. Also, they have highly knowledgeable and intellectual advisors for your guidance. With the kind of servicing that they have, many well-known celebrities and dignified financiers endorse them to other people.

So, if you are looking for Gold IRA Company, Regal Assets, LLC is the best way of experiencing significant investment with their excellent services. Your gold will be in the right hand if you let them take care of it.