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FreeAgent Software

by | May 25, 2017 | Tax News

By now readers of this newsletter should be aware of the impending arrival of Making Tax Digital. Staging dates are: April 2018 sole traders / partnerships over vat limit – Income Tax and NI April 2019 sole traders / partnerships under vat limit – Income...

Self Assessment Questions

by | Apr 25, 2017 | Tax News

Some questions in from a Yoga Teacher: I’m just filling out my first online self assessment and I have a few questions: Do I need to tell them about my child benefit claim? If so, in which section? I am self employed, I teach my own classes under my own name and...

VAT and the Yoga Teacher

by | Apr 19, 2017 | Tax News

We’ve got a guide to VAT on our website. Today its been updated with new guidance and a section on case studies. See the guidance and case studies here A lot of these examples focus on studios, as our experience is that solo yoga teachers rarely reach the VAT...

The Emotional Side of Tax

by | Apr 11, 2017 | Comment

Most of what, as owner of YogaTax, I write about is the technical aspect of accounts and tax, as, after all that’s my job, and we are a firm of accountants. However as a Yoga Teacher there is another side for me, the empathy with those who struggle with tax....

Its Year End Time

by | Apr 3, 2017 | YogaTax News

The end of the tax year, 5th April, is a day or two away, so time to think about taxes for 16/17. If you are a client of ours, have a look at our Working With YogaTax page to see what we need from you.  In essence: Self Assessment Questionnaire Accounts date (normally...

Class IV NI rises scrapped

by | Mar 16, 2017 | Tax News

Yesterday it was announced by the Prime Minister the Class 4 NI increases for Self Employed (sole traders and partners, not company directors) announced in last weeks budget are not going ahead. They were originally proposed at 1% from April 18 and 1% from April 19....

Spring Budget 2017 – First Impressions

by | Mar 8, 2017 | Tax News

Our first impressions on todays budget. Making Tax Digital – no move on the £10,000 threshold – if you earn over that you will have to start filing quarterly accounts on line – but there is a deferment of one year for non VAT registered sole...

What Pimlico Plumbers can teach Yoga Studios

by | Feb 10, 2017 | Tax News

At first glance maybe not a lot.  But Pimilco Plumbers has today lost an Appeal Court Case about employment status for one of its plumbers. Case details are on the BBC and a full summary on the Appeal Courts website.  In this case the dispute was about employment...

Making Tax Digital – HMRC Consultation Response

by | Jan 31, 2017 | Tax News

Back in the autumn we were promised a response from HMRC to their summer 2016 MTD consultations during January 2017. Well the days have gone by, and about 4pm this afternoon an email from HMRC arrived announcing the response was up. Well, its still January, just....

Tax Year End Pishing Scam

by | Jan 31, 2017 | Tax News

With the 31st January Self Assessment deadline on us, what better time for the scammers to try and work their magic? Here is an example of one a client received earlier today. Please be on your guard for scam emails.  Things to look for: Check the sending address is a...

Working Through a Limited Company

by | Jan 10, 2017 | Tax News

Have you ever wondered whether working through a Limited Company may be better for you. In our new guide to the topic, we explore the differences between a Sole Trader and Limited company, and crucially how the tax changes at different bands. For most yoga teachers...
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