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What is IR35 and what does it mean for you?

What is IR35 and what does it mean? Self-Employed contractors working through a limited company can benefit from tax advantages, but IR35 rules change the way this can be done lawfully. IR35 seeks to make sure contractors working in the same way as permanent full-time or part-time employees pay the same tax and national insurance as an employee to crack down on tax avoidance. What is IR35? IR35 is defined as off-payroll working by HMRC. IR35 is shorthand for the…

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SA302 – How can you get yours in 2021?

What is the SA302 form? SA302 is a statement given by HMRC that provides evidence of your earning. It is, in every practical sense, HMRC’s presentation of an individual’s income tax calculation for that given tax year. You will be issued it following the submission of your Self-Assessment tax return. Provided that you or your accountant submit your tax return online, you are able to extract your own tax calculation and other SA302 information for the last four year if…

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What are flat rate expenses and how can you reclaim VAT?

A flat rate expense is a set amount of money that an unemployed person can get tax relief, on for work expenses they can incur. The amount allowed is decided on by the tax office. It’s important that you claim for your flat-rate expenses to avoid paying too much tax and receive a tax rebate if your owed one. Flat rate expense deductions apply to those who work in trades and industries, in which there are common and essential job-related…

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Why is it better to have an accountant when running your own business?

Why should you get an accountant?   Running a small business often means that in order to save money, you need to do a lot of the tasks that come with business ownership by yourself. However, certain tasks are always best left to the professionals, especially accounting. While there are several accounting software tools on the market now that you can take advantage of doing your own books. It’s always best to have a professional accountant by your side who…

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How can you grow your business after Covid-19?

Business Growth Today, more than ever, businesses need help to grow their business. Every business needs to monitor its performance to allow management to make clear decisions. In a business environment where change is essential for future growth, Asmat & Co helps you make the right choices for the best and efficient way forward. That advice, resulting in experience in advising a wide range of business types and sizes, can prove invaluable in helping to build a better business. It…

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What is Capital Allowance and how can you claim it?

What is a capital allowance? A capital allowance is an expenditure the U.K or Irish business may claim against its taxable profit. Capital allowances may be claimed on most assets purchased for use in the business, ranging from equipment and research costs to expenses for building renovations. The classification of these assets determines whether full or partial value can be claimed and whether the allowance is deductible in one year or over several. Once a business has calculated the number…

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Switching from a Limited Company to an Umbrella Company

Switching from a Limited Company to an Umbrella Company Why would you need to switch from running your own limited company to using an umbrella company? We discuss the possible reasons behind this and what you need to do to switch from a limited company to an umbrella –if you find you will be better at making the switch. What is an umbrella company? A PAYE umbrella company is a standard UK limited company, operated by a third-party supplier acting…

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What is MTD and records you must keep digitally.

VAT registered businesses with a taxable turnover of more than 85,000 must follow the rules for “Making Tax Digital” by keeping some records digitally unless Your business uses the VAT GIANT service, for example, if you’re a government department or an NHS Trust You apply for an exemption You can choose to sign to Making Tax Digital for VAT if your business earns less than £85,000 Records you must keep digitally You need to keep the following records digitally Your…

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How are cryptocurrencies taxed in the UK?

The terminology, types of coins, tokens, and transactions can vary. The tax treatment of crypto-assets continues to develop due to the evolving nature of the underlying technology and the area in which crypto assets are used. The fats of each case need to be established before applying the relevant tax provisions according to what has actually taken place (rather than a reference to terminology). Our views may evolve further as the sector develops and HMRC may publish amended or supplementary…

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What is an accountant and how can you benefit from having one?

What is an accountant? Accountants are employed by organizations or private clients to audit accounts, provide financial advice and undertake accounts administration. Accountants go through rigorous recruitment and qualification processes, and this is reflected in their high professional status. Accounting is a broad term that encompasses multiple different job titles and roles within organizations. There are three main types of accountants-public accountants, management accountants, and government accountants-all of which focus on different aspects of the profession. An accounts daily duties…

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Asmat Accountants

Asmat & Co are one of Berkshires’ leading independent firms of Accountants servicing a growing and satisfied clientele. At Asmat & Co expert advice is available from senior qualified Chartered Management Accountants (ACMA) and Chartered Certified Accountants (ACCA), at very attractive packages tailored to suit varied individual and business requirements. The professional team at Asmat & Co. possesses extensive experience in providing accounting, tax, finance transformation and business advisory services to a diverse customer base.

CONTACT US


  • 84 High Street, Slough, Berkshire SL1 1EL, United Kingdom
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  • 01753 424968 / 02035 988 621
  • 01753 437109
  • info@asmataccountants.co.uk

Reading Office

  • 365-367 Oxford Road, Reading, RG30 1HA
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  • 0118 950 9841
  • reading@asmataccountants.co.uk



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