The Smart Move: Why You Should Use a Tax Accountant for Your Self-Assessment

In the world of personal finance, few things are as certain as taxes. Each year, individuals across the globe prepare to navigate the labyrinth of tax regulations, deductions, and forms required for their self-assessment. While some opt for the DIY approach, a growing number are discovering the numerous benefits of enlisting the expertise of a tax accountant. In this blog post, we'll explore why using a tax accountant for your self-assessment is not just a smart choice but often a financially savvy one.

 1.   Expertise and Knowledge: Tax accountants are professionals who specialize in tax laws and regulations. They stay up-to-date with the latest changes in tax codes and have the experience to navigate complex financial situations. This expertise can help you minimize your tax liability legally.

 2.   Maximize Deductions and Credits: Tax accountants have a keen eye for identifying deductions and credits that you might overlook. Their attention to detail can result in significant savings, ensuring you're not paying more taxes than necessary.

 3.   Reduce Stress and Save Time: Preparing your own taxes can be time-consuming and stressful. It often involves sifting through a mountain of paperwork and deciphering intricate tax jargon. Hiring a tax accountant frees up your time and reduces the stress associated with tax season.

 4.   Avoid Costly Mistakes: Filing taxes incorrectly can lead to penalties and audits. Tax accountants are trained to minimize errors and ensure that your return is accurate, reducing the risk of costly mistakes that can haunt you later.

 5.   Year-Round Assistance: A tax accountant's support isn't limited to just tax season. They can offer financial advice throughout the year, helping you make informed decisions to optimize your tax situation and financial health.

 6.   Audit Protection: If you're audited by tax authorities, having a tax accountant on your side can be invaluable. They can guide you through the audit process and ensure that your rights are protected.

7.    Customized Strategies: Tax accountants can create personalized tax strategies that align with your financial goals. They consider your unique circumstances to help you make the most of available tax benefits.

 8.   Peace of Mind: Perhaps one of the most valuable aspects of hiring a tax accountant is the peace of mind it brings. Knowing that a professional is handling your taxes can alleviate anxiety and allow you to focus on other aspects of your life.

 9.   Cost Savings: Contrary to common belief, hiring a tax accountant can often result in cost savings. The deductions and credits they can uncover, combined with the reduction in errors, can more than offset their fees.

10.    Legal and Ethical Compliance: Tax accountants operate within the bounds of the law and adhere to ethical standards. This ensures that your taxes are filed ethically and legally, eliminating any worries about potential legal repercussions.

In conclusion, the decision to use a tax accountant like Tax Affinity for your self-assessment is an investment in your financial well-being. Their expertise, ability to maximize savings, and dedication to compliance can make the process smoother, more accurate, and less stressful. Ultimately, it's a smart move that can pay dividends in terms of both financial savings and peace of mind. So, this tax season, consider enlisting the help of a tax accountant like Tax Affinity and reap the rewards of a stress-free and financially optimized experience.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are the number rated and recommended Tax Accountants in London. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

The new UK Chancellor (yes another one...can you believe the UK had 4 Chancellors in 4 months in 2022) has given his first budget. And as before we have refined the main points and facts for business owners including SME's and entrepreneurs. So you can easily navigate and plan ahead with clarity.

The main points from the budget are:

1. Energy price guarantee for homes will remain at £2,500 extended for only 3 months until end of June. It was set to rise to £3,000 but that has now been cancelled. And no new support announced for business bills.

2. Corporation Tax for a limited company will rise from 19% to 25% from 6th April 2023. Small company's with profit of less than £50k will still pay the lower 19%. But companies with profits between £50k to £250k have to pay between 19% and 25% but are allowed to claim marginal relief. Company profits over £250k will be taxed at 25%. And companies with group ownership of other companies may end paying close to 26.5% (effectively) because the corporation tax for Group Companies was increased also - sadly all important details missed by the main stream media.

3. Tax-free yearly allowance for pension cash out to rise from £40,000 to £60,000 after being the same for the past 9 years.

4. Fuel duty (tax) frozen so the 5p cut to fuel duty/tax on petrol and diesel which was due to end in April, has been extended for another year.

5. Maximum amount a worker can accumulate in pensions over their lifetime before paying extra  tax currently £1.07 Million will be cancelled. Now there is no limit.

6. Tax on tobacco to increase by 2% above inflation for normal and 6% above inflation for hand-rolling tobacco.

7. Those who are already drawing down on their pensions, the total amount they can save tax free under the Money Purchase Annual Allowance is increased from £4,000 to £10,000 from April 2023.

8. 30 hours of free childcare for working parents in England expanded to cover 9 months to three year olds.

9. New £600 "incentive payment" for people becoming childminders, and the rules have been changed in England to let childminders look after more children.

10. Immigration rules to be relaxed for five roles in the construction sector, to ease labour shortages in the Industry. These categories are:

• Bricklayers & masons
• Roofers, roof tilers and slaters
• Carpenters and joiners
• Construction and building trades n.e.c
• Plasterers

11. Super deduction of 130% will end on 31/03/23 and move back to 100% AIA for plant and   machinery purchased and can be used directlty against corporation tax payable. A list of typical purchases is lasting until 31/03/26:

• computer equipment and servers
• tractors, lorries, vans
• ladders, drills, cranes
• office chairs and desks
• electric vehicle charge points
• refrigeration units
• compressors.

If your worried how these will effect you and need more specific guidance to help your business carry on growing during turbulent times then contact one of our Tax Affinity expert business advisors today (click here). With their countless years of knowledge and expertise they can guide your business to success even in the toughest of economic conditions.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

Economic conditons rise and fall but one thing is certain the most successful small to medium sized businesses always keep growing and increasing their profits. So how do they do that? Well here at Tax Affinity we are expert business advisors and we help and support thousands of business owners in the UK and overseas with exactly that.

Giving business owners tailored and specific advice to help keep their business growing and increasing in profits no matter what the economic conditions. In short giving everyone the same level of guidance and support that large corporate CEO's get but for a fraction of the price.

Why? Because we feel everyone should have access expert support especially small and medium sized businesses because they are the engines and driving force of every economy.

So here is a quick list to get you started and when you need more specific and tailored support contact us and we will be happy help.

1. Change the way you do things 
Simply you will need to generate more sales while decreasing expenses. Sounds easy but in reality it can be quite hard. To increase your sales you may have to change the way you do business and start offering new goods and services that complement your current goods and services.

To reduce expenses, keep an eye on expenses and start to identify which ones are excessive and a waste of income. Find out if some parts of your admin work that can be outsourced to reduce wages bills eg accountancy, payroll, vat etc. We at Tax Affinity often help clients by taking over the work load from business owners helping them cut costs and increase profit. Look closely at employees and identify the ones who are less productive and cut down their hours to part time from full time or simply let them go. Switch suppliers of utilities and explore new cheaper or free energy sources such as solar power or a rain collection tanks on the roof for the washrooms.

2. Motivate new customers to try your product/service
Another quick fix to increase profits is motivating new customers to try your products and services with specials deals, discounts, or short-term giveaways. Maybe think about a relationship-based sales model that gets customers coming back by offering monthly or annual subscriptions, or a grouped bundle of visits at a discounted price.

3. Stay in front of the customer make sure to be available
See what can sets you apart from your competition. Regularly check and promote your positive reputation. Use your website, emails and social media to connect with clients. Think about sharing advertising with a complementary business and find ways to get referral sales using affiliate marketing to get new customers. Plus get rid of old, unproductive business alliances that may be dragging you down. Check their reputation - if they are going down then your perceved to be the same too by association. Do more marketing and networking by setting up group meetings online, offer online downloads and access to shared info.

3. Maximising your cashflow 
Cashflow is king and making sure you always have enough is very important. Chase customers to pay on time and make sure that you add charges for late or delayed payments. If they do pay late then you will be paid more. Some people say offer a reduced monthly payment plan to lock in clients longer term, we don't agree because its a universal law that the cream always rises to the top and the best don't discount because they are the best. Get better instead of cheaper.

4. Dump useless employees
All businesses have employees who steal, or work purposely slow etc. Identify them and replace them with new more enthusiatic and efficient ones. They are just another asset in the business and your not responsible for them and their families. They should have bore that in mind before being lame at work. Think about automation which may allow your business to use software or robots for work and reduce monthly wages bills .

5. Make Everyone a Salesperson
From telephone to email to face-to-face meetings, every employee has the opportunity to spread your company's message and engage in potential sales-generating behavior. Everyone needs to pitch in to help by cutting costs, selling, networking on the web, marketing, and more.
If you can get your employees invested and motivated to sell your message by encouraging self-development through roundtables, conferences, lunch meetings, and webinars you'll be well on your way to creating an organization that is built around increasing profits.
Remember, it pays dividends to reward your employees that seek continuing education, or who make an extra effort to represent the company inside and outside of work.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

On 17/11/2022 Jeremy Hunt the Chancellor for the UK Governments expressed their plans for the coming year and the contents of his autumn budget. As before we have read thorugh the detailed report and listed the main bullet points for small business and the self employed.

Personal Income Tax
There are no changes to the personal tax thresholds. And they will remain at the current level until April 2028. This also includes the National Insurance Contribution threshold for PAYE and self employed. Minimum wage for people aged over 23 to increase from £9.50 to £10.42 an hour from April 2023

Company Dividend Tax-Free Allowance (DIV)
The dividend tax free allowance threshold will be reduced from £2,000 to £1,000 from April 2023. And this will be reduced even more in 2024-25 to £500.

Additional Rate of Income Tax (Higher Tax band)
From April 2023, the higher rate band will be reduced from £150,000 to £125,140. Which means anyone earning above £125,140 will now be taxed at the 45%. Apart for Scotland.

Annual Investment Allowance (AIA)
The Annual Investment Allowance will be permanently set at £1 million to help promote growth in the economy.

Corporation Tax (CT600)
From April 2023, the Corporation Tax is due to increase to 25% if a company’s profits exceed £250,000. Companies whose profits are between £50,001 to £250,000 will be subject to a tapered relief. Companies whose profits fall below £50,000 will remain at the current level of 19%.

Capital Gains Tax-Free Allowance (CGT)
Also rumoured before the budget, the threshold for Capital Gains Tax will be reduced from £12,300 to £6,000 from April 2023. Similarly to the dividend allowance, a further reduction will be seen in 2024-25 to £3,000.

Employment Allowance (Employer NIC)
The Employment NIC Allowance will stay at £5,000 meaning that eligible employers.

Road Tax
Electric cars, vans and motorcycles will start to pay road tax from April 2025.

Energy
The household energy price cap has been extended for one year beyond April 2023 but has been made less, with typical bills capped at £3,000 instead of £2,500 a year.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

The UK now has a new PM Rishi Sunak after the shock resignation of the previous PM Liz Truss due the GBP (Sterling)  stock market crashing after the announcment of her mini budget just weeks ago. So the new Chancellor Jeremy Hunt announced a raft of reversals listed below that seem to have temporarily reassured the markets and IMF etc. But what are they in a quick short read - well see below:

1. Cut to Corporation tax down to 19% from 25% - cancelled
2. Removal of 45% higher rate tax - cancelled
3. Personal Income tax cut from 20% to 19% - cancelled
4. Alcohol duty freeze - cancelled
5. VAT free shopping for overseas visitors - cancelled
6. National Insurance reverse of 1.25% - retained
7. No stamp duty on first £250,000 - retained
8 First time buyers no stamp duty on first £425,000 - retained
9. IR35 rules reversal - cancelled
10. Removal of bankers bonus cap - retained
11. Freeze on energy bills for 2 years - amended to 6 months only now

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

On the 23rd March 2022 the Chancellor of the Exchequer announced the UK goverments mini budget. With a long speech and pages and pages of information. We did the hard work and went through the whole report to get to the bare facts and save our clients time and sanity. Listing the  important and relevant points below:

1. From the 6th July 2022 (6/7/22 to 5/4/23) the threshold at which National Insurance payments start will rise to £12,570 from £9,568 (in 21/22 tax year). Importantly it means the NI threshold will not rise from 6th April 2022 but 4 months later, so higher NI will still be payable from 6/4/22 to 5/7/22.
2. Employers National Insurance threshold will rise from £4000 to £5000 from 6th April 2022 onwards.
3. Temporary tax cut by 5p per litre, for both petrol and diesel vehicles, starting from 6pm on 23 March 2022 to 22 March 2023 (12 months).
4. Drop to zero VAT (from 5%) on energy-saving equipment including solar panels, heat pumps and insulation as energy bills surge. This will last for up to 5 years. Does not mention about fitting labour costs which may still have 20% VAT applied.
5. Promise to cut the basic rate of income tax from 20% to 19% from April 2024.
6. Temporary £1 Million Annual Investment Allowance is extended to 31st March 2023. Which allows businesses to deduct qualifying plant and machinery (not cars) in one against taxable profit go up to a limit of £200k. 
   
7. Help to Grow: Digital; offering eligible SME's a 50% discount on approved software worth maximum of £5000 per business.
   

If you or your business is affected by these changes and you want help and support contact us today.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

There are only a few working days are left until (UK) HMRC's self assessment (tax return) deadline. And with many people receiving furlough, SEISS type covid grants and Covid Support from Local Council's which all need to be declared it only add to the complication.

Many tax payers are finding their tax bills are higher this year than last year and are turning to expert tax accountants at Tax Affinity to help them. Doing it yourself or with someone with a basic knowledge of the ever changing tax rules is likely to end up costing you much more than the fees an expert tax accountant would ever cost. It just makes economic sense.

So if you have not had your 2020/21 (6.4.20 to 5.4.21) tax return completed then you urgently get in touch today as the number of working days are fast decreasing and before you know it the time will be gone and you may end up facing a fine by HMRC for missing the deadline.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts in Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for small and medium sized businesses (SME's). Helping and supporting limited company owners and self employed people throughout the UK, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

We have a lot of limited company owners asking about IR35 - the HMRC rule about removing some rights to work as a limited company personal service provider and be counted instead as an employee due to pay tax and ni at the PAYE tax rates.

Obviously many consultants and contractors are worried that they will end up having to pay more tax some at 40% higher rate of income tax rather than the 19% corporation tax previously paid on their limited company.

So we have compiled a simple questions & answer to help answer common questions that arise:

Q. As a consultant / contractor, can I work inside and outside IR35 on different jobs?
A. Yes. It is possible to have one job found outside IR35 and another to be inside IR35. Each job will be assessed on its own merits as per the IR35 status tests. IR35 applies on a case-by-case basis. 

Q. If I accept an job inside IR35, will I be worse of financially?
A. Yes. An inside IR35 job means you have to pay all PAYE/NIC deductions as per a normal employee on all your gross income. This will be made at sourc and have a direct impact on your take-home pay. If you were working through your own Limited company previously. You were paying tax on net income (after expenses).

However, there are options such as re-negotiating and increasing your day rate, looking for contracting work that is considered outside IR35. Working for more than one company and making sure your paperwork proves your outside IR35. Contracting through our purpose built umbrella company to help clients. We have many options available.

Q. If I disagree with my status given, is there anything I can do to challenge it? 
A. Yes. When your client has assessed your IR35 status they should provide you with a Statement Determination Statement (SDS) which will detail the reasons for your Outside/Inside IR35 status. Once you have received this, you can dispute the determination. The client has 45 days to respond. If you choose to dispute your IR45 status, we recomend you gather evidence to support the reasons which you believe the decision is wrong.

Q. Will HMRC be looking to recover backdated tax for previous jobs it deems to be inside IR35? 
A. No word yet. When the client decides your inside IR35 after April 6th 2021 it means that they have to make the PAYE & NI deductions after that date. If you were in the engagement prior to 6th April, the responsibility for IR35 remains your own. So, your status before will remain be your responsibility and can hold a retrospective liability risk. HMRC has previously said it will not proceed with targeted campaigns of those who have had a change in status and IR35 was first started in the public worker sector such as NHS and local authority previously and this was not the case then.

Having seen many clients go through this a couple of year ago when IR35 was introduced to public sector worker. We managed to successfully guide most of them to a tax efficient solution. So are now very experienced to help the new batch of private sector IR35 workers after 6th April 2021. Get in touch today and we will be happy to help you keep more of your hard earned money.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

UK Spring Budget 2021 key points for business owners & SME's

At Tax Affinity we believe in improving the financial lives of every person in the world. Each time the UK treasury government makes budget announcements we spend time reading through the information to help our clients support our clients with the best information to drive their businesses forward even during a down turn.

The key points are listed below for a quick guide:

1. Furlough (CJRS) extended to end of Sept 2021. Originally it was going to end in April 2021. But the 80% value up to £2500 maximum will only last for 2 months and then taper off in July to Sept dropping to 60% up to a £1875 maximum. The employee is still expected to receive the full 80% up to £2500 at the employer’s expense plus NI and tax etc. Therefore each employer will need to calculate how this effect’s their expenses and weigh up the benefits of keeping staff or not. The cut off date for eligibility was 2nd March 2021 a day before the budget was announced. If you are client or would like to be a client contact Tax Affinity to discuss your PAYE options and PAYE expenses.
2.  Self Employed (SEISS) 4th & 5th grants announced running to end of Sept 2021. 4th grant (April to June) will be the same criteria as the previous ones (up to max £7500 of 80% of profits). While the 5th grant (July to Sept) will be banded with those who have seen a greater than 30% reduction in income eligible for 80% and those who have seen income fall less than 30% receiving a grant of only 30% (up to max £2,850). The cut off date for eligibility was 2nd March 2021 a day before the budget was announced. And both will take into account 2019/20 tax returns filed. Still need to qualify with over 50% of your income coming from self employment.
3.  Business rates 100% relief will be extended to 30th June. Then the following 9 months a 66% discount up to a maximum of £2m.
4.  VAT reduction to 5% extended for some sectors to 30th Sept. Then rate will rise to 12.5% for 6 months to 31 March 2022. After that it will return to normal 20%. If you are a client contact us for more information if this applies to you.
5.  Stamp Duty extension of £500,000 nil-rate to 30 June. After this it will return to £125,000 as before. This is accompanied with the 5% small deposit scheme up to a limit of £600,000 which is not restricted to 1st time buyers or new build homes.
6.  Restart Grant of £6,000 for non-essential retail to £18,000 for hospitality, leisure and personal care shops to replace the current monthly grant scheme.
7.  Universal credit £20 increase will be extended to end of Sept 2021 with a separate one-off payment for working tax credits claimants.
8.  Pension lifetime allowance frozen at £1,073,100 until April 2026. State pension will rise by 2.5% next year.
9.  Corporation tax for UK limited companies with profit less than £50,000 will remain in 19% tax band for year beginning 1 April 2022. Profits above £250,000 will attract 25% corporation tax. With bands in between unspecified at this time.
10.  Super deduction of 130% on plant, machinery and main rate assets from 1st April 2021 to 31 March 2023. This will apply to contracts started on or after 3st Mar 2021 and available for expenditure from 1st Apr 2021 to 31st  Mar 2023. Plus losses created can be carried forward.
11.  Carry back losses from 1 to 3 years extended up to max £2million of unused loses in 20/21 and 21/22 tax years.
12.  R&D cap at £20,000 from 1st Apr 21 plus 3 x company’s total PAYE and NIC dues.
13.  Personal Income tax rate will rise from £12,500 to £12,570 and the 40% tax threshold from £50,000 to £50,270 (ie £37,700 at basic 20% rate). CGT allowance remains at £12,300.
14.   Apprenticeship hiring payment rise to £3000 to Sept 2021. Plus fast track visa for hiring overseas staff for tech firms. Meaning a removal of 3rd party endorsement
15.  Recovery Loan Scheme to replace BBL / CBILS etc. Which is a shift from 100% government guarantee to 80% on eligible loans between £25k to £10m for “any legitimate business purpose, including growth and investment”. This is open til 31st Dec 2021.
16.  Annual Investment Allowance of up to £1m is extended to 31st Dec 21.
17.  Road Tax will rise from 1st April 21
18.  VAT deferral scheme extended, vat registered business now have the option to have 11 months interest free instalments between 2021 to 2022 on vat payments. If you don’t take this option you must pay deferred vat by 31st March 2021 for all past vat due. You can opt in between Feb and June 2021 but with fewer instalments. If no arrangement to pay is made you will receive a penalty by HMRC.
19.  Individual ISA limit £20k for 21/22; Junior ISA 9K; Child Trust Fund 9k;

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

At Tax Affinity we believe in improving the financial lives of ever person in the world. Enriching each persons life to be better today and tomorrow. We do that by remaining at the forefront of business tax and finance and constantly researching and striving for knowledge. Making sure we are the first to know and advise on all things new so we can improve everyone's financial life.

With the rise of Bitcoin (BTC) and other virtual currency such as Ethereum (ETH), Litecoin (LTC) and Dogecoin etc. Many investors are looking to cash in on the rise of the new wave of crypto currency appearing in the news.

Experts know how to mine such currency not just buy and sell it and the value of keeping the currency in electronic wallets to avoid fraud or theft. They understand the blockchain and how to use GPU's and graphics cards to help them increase their investments. Plus the places they can spend and buy more coins and tokens. With the rise of established business and brands saying they will accept and have purchased Bitcoin; cryptocurrency is here for the long term even if the government and central banks don't like it.

And with this rapidly changing financial landscape tax authorities around the world are scrambling to make tax laws and rules to bring it within their taxable structure. So anyone investing in, buying or generating virtual curency will become subject to tax depending on the way it is transacted and declared. A sobering thought when virtual currency was always supposed to a currency for the people by the people.

This is where a tax expert in crypto currency like Tax Affinity Accountants is essential to help you keep as much of your hard earned money as possible. We make sure to keep researching and checking with the tax authorites for the latest rules and regulations. Powering ahead to the forefront of crypto currency support.

Tax Affinity are already succesfully helping both businesses and individuals with their cryptoinvestments knowing that the vast majority of accountants and tax advisors in the world are lack the knowledge an skill to support them at this crucial time.

After all its how you do things at the start that defines what will be the end result and leaving financial matters to the last minute usually ends up in misery. So get in touch with us today when you still have time to invest wisely and keep more of your hard earned wealth and investments.

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts in Crypto currency, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert cryptocurrency business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.

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