5 tips to kick start your new business

So you’ve decided you’re going to do it, you’re going to go down the route of working for yourself. A bag of mixed emotions has come and gone, you’re confident, prepared and ready for the big wide world of self employment or running your own company. Good for you, and a huge well done on… View Article

What does the Spring Statement mean for you?

Normally around this sort of time we are all preparing for the annual budget, spending review and bracing ourselves for tax changes on a rather large scale. However this month there was no red box held up by the Chancellor, Philip Hammond as he announced the Spring Statement of 2018. Back in 2016 it was… View Article

When can I stop working?

Its a harsh, but true, fact that unless you’re sitting on a gold mine, have recently won the Euro Millions (£154 million jackpot this Saturday), we’re all going to be working till we’re at least in our late 60s if not early 70s.  So when it comes to retirement and hanging up the old working… View Article

How to fight a NRCGT Penalty and Win

Taxpayers who live abroad may sell UK property. Before 6 April 2015 any gains they made would have escaped UK tax.  Now such non-resident property owners must pay non-resident capital gains tax (NRCGT) on gains made on UK residential property, but not (yet) on gains made from commercial property. The gain or loss made by… View Article

Get set for digital, VAT first

For those of us that are still using Excel Spreadsheet to calculate our VAT, the Making Tax Digital (MTD) scheme might just put an end to this, as VAT registered businesses are forced to get to grips with new accountancy software. The objective of the Making Tax Digital (MTD) project is to get businesses to… View Article

Top 7 Blog Posts of 2018 so far

We’re not to far into 2018 and already we’ve seen more visitors coming into the local offices in Torquay to discuss both business and of course to get an eye full of our redesign. We have also seen more visitors coming to our website to have a read of the various articles that we publish… View Article

Top 6 excuses for not completing your tax return

As we write this, we’re happily sat drinking a cup of coffee and feeling rather pleased with the look and feel of our new offices. Over the years, as one might imagine, we have heard all kinds of reasons ourselves as to why the tax return was late. Of course us being your friendly and… View Article

Why making a will is important

You can put off making a Will until it is too late and this poses all sorts of problems for the people left behind.  Not making a Will could mean that some or all of your Inheritance either goes to the wrong person, or to the state. Making a Will enables you to plan exactly… View Article

Save yourself £100 with MG Associates

January, probably has 2 moods for you, particularly if you’re self employed. The 1st mood is a great sigh of relief to get back into the office and get the cogs of business turning again, whilst finishing off the Christmas food stocks at home. The 2nd mood is a sense of dread, as you realise… View Article

Budget for your Company Tax Bills

Many company owners take a small salary and variable amounts of dividends from their company each year. Previously, the dividends came with a tax credit, so there was no further tax to pay as long as total income didn’t stray into the higher tax bands. However, since 6 April 2016 dividends over £5,000 have been subject to dividend tax at 7.5% for basic rate taxpayers,… View Article