Blog | Tax

Welcome to the Nicki Paddy & Co. Blog.

We are regularly asked questions by our clients, the answers to which are often pertinent to other clients and SME’s. So in a bid to make useful information freely available, we seek to answer the most regularly asked questions or provide some ideas about managing the perennial issues faced by SME’s and growing companies.

If there is a subject you would like us to consider, please contact us.

14th January 2020

MTD and RTI Come to Fruition

In recent years we have had numerous legislative changes around tax reporting, beginning with RTI (Real Time Information) on payroll and then more recently MTD (Making Tax Digital) for VAT. These have been introduced gradually, marking a creeping change to an automated reporting system between businesses and HMRC. The long-term ambition of these measures is […]

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11th December 2019

Sole Traders – Why is my tax bill so high?

This question is not unfamiliar to me. The full question is normally along the lines of ‘Why is my tax bill so high, in fact why am I paying any tax at all?’ I do understand the thinking from a sole trader’s perspective, I think it is a sentiment shared by us all. But the […]

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27th February 2019

VAT Threshold Changes – A good thing?

It may have escaped your notice – a lot of these consultations don’t get the promotion I think they should, especially when it can affect so many people/businesses – but the Government carried out a consultation in 2018, on a proposed reduction of the VAT threshold. It is rumoured that the Chancellor was talked out […]

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25th January 2019

Making Tax Digital (MTD) – The lowdown

Making Tax Digital (MTD) is all over the business press at the moment and I have even noticed the likes of QuickBooks and Xero advertising on the TV and radio with their core message being ‘MTD compliance’. Like most new pieces of legislation or changes to the business taxation system, MTD has been coming our […]

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31st August 2018

VAT What you can and can’t claim

It’s not until you’re through the VAT threshold or have taken the proactive decision to register for VAT that you really get a sense of what a complex beast it is. You may be fooled into thinking that VAT is either standard rate, zero rated or as in the case of gas, charged at an […]

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18th November 2016

Making Tax Digital

Making Tax Digital In 2015, the Government committed to moving tax online, making it easier and quicker for us all to manage our tax – and to communicate directly with HMRC. Added ambitions with this proposal are to avoid mistakes made on both sides and to enable us to understand our tax situation in real […]

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24th May 2016

Will we or won’t we?

The June referendum on Britain’s membership of the EU is looming ever closer but it seems that many business professionals are still undecided on whether to back Brexit or not. Such a key decision needs to be carefully considered and the arguments for and against must be deliberated… Having the experience of working with businesses […]

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29th September 2015

Why your PAYE changes throughout the year

One of the reasons many small businesses set up a PAYE scheme is to have better control over their outgoings each month. They know their staff will be paid and they know what’s going out of the bank account. One of the questions I often get asked by my clients is: with so much certainty […]

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7th November 2013

VAT – To Register or Not to Register?

The Pros and Cons of VAT Registration Clients often ask me whether they should register for VAT or not and what the upsides and pitfalls are of registering. So I thought I’d provide some pros and cons and outline the defaults! Aside from VAT being an option you should first understand that there is a […]

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28th March 2013

Self Assessment Tax Returns – 5 Minutes a month makes all the difference – I promise!!

Some simple ideas to prepare for your tax return The excesses and busy period of Christmas were only just in the rear view mirror when we arrived once again at self-assessment time. Many people think that this brief period offers rich pickings for those in our profession due to the enforced nature of the returns […]

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