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Associated Companies

Associated Companies

What are the new corporation tax rates? From 1 st April 2023, the rates at which a company pays corporation tax changed.  If your company made more than £250,000 profit, you’ll pay the main rate of CorporationTax, which is 25%. If your company made a profit of £50,000...
Employers Pension Contribution

Employers Pension Contribution

Using your company to pay in to your pension plan is a great way to save tax and provide for your future retirement. The payments that the company makes on your behalf are tax free on you! If you are thinking about your end of year tax planning options, do consider an...
Xero Top Tips: 5 tricks to save you time

Xero Top Tips: 5 tricks to save you time

Xero has become the go to software for streamlined accounting. We have compiled five top tips and tricks that will save you time and enhance the efficiency of your bookkeeping. 1. Tired of chasing payment from your customers? Why not setup reminders in Xero that will...
Are you Saving into a Pension Plan?

Are you Saving into a Pension Plan?

Jays Accountants recommend that everybody should consider their pension provision for when they retire otherwise you might find that the State Pension could leave you short of funds to live on. Check your State Pension forecast here:...
Filing Your Self-Assessment Tax Return

Filing Your Self-Assessment Tax Return

If you receive any untaxed income or monies from the sale of any investment, you must file a self-assessment tax return. Failure to file will result in tax, penalties, and interest – that could be substantial. You must file a tax return if: You have been in business...
VAT and the Domestic Reverse Charge

VAT and the Domestic Reverse Charge

HMRC’s domestic reverse charge for construction services came into force on 1 March 2021. The CIS domestic reverse charge only applies to VAT-registered businesses within the construction industry. If your business is not in this industry or is not VAT registered, you...