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Reducing Tax

Friend & Grant Chartered Accountants have been helping small and medium sized businesses in the Medway towns and North Kent for over 20 years

19th June 2019
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How do You Lock in Key Members of Your Team?

For those business owners seeking success there is nothing more frustrating than finding that key person only for them to leave you. So how do you lock in key members of your team?

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23rd May 2019

Make Sure You Keep More of Your Pot of Gold!

If you are building a business you must have an end goal. For most entrepreneurs that end goal is the wish for a pot of gold at the end of the rainbow. Hopefully we will all get there and all the effort will be worthwhile. Unfortunately someone else hopes you’ll get there too, it’s not a naughty leprechaun but someone equally as annoying, the tax man!

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26th April 2019
building construction

One Minute Guide to R&D

Businesses are missing out on a huge tax windfall if they conduct Research & Development and don’t claim the additional tax relief – over 250,000 successful claims have been made to HMRC

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5th March 2019
Startup Guide to VAT Registration

Startups VAT Registration Get it Right!

For all startups knowing when to register for VAT is fundamental. Get it right and you could save £’000s in tax, get it wrong and there could be penalties and additional costs. The rules are fairly straightforward but unfortunately many businesses still fail to register on time.

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26th February 2019
Tax saving calculations for company directors

5 Easy Tax Wins For Company Directors Looking To Grow Their Businesses and Save Tax!

As a company director are you looking to build a strong working relationship with a trusted advisor who will help you save tax and grow your business. If you are then why not speak to us about 5 easy tax wins which we can implement with you.

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8th February 2019
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Estate Planning for Your Parents

You don’t have to be a client to access our Estate Planning for Your Parents service. Our clients agree that this type of forward planning is very tax efficient and helps them to understand the estate that they may have to administer when their parents die.

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7th November 2018
Budget Report 2018 - Friend and Grant - Financial and Tax Advisors Kent - Friend and Grant

Budget Report 2018

This is our special budget report following the Chancellor’s Autumn Budget announcements. As previously announced, these were the main themes of the Chancellor Phillip Hammond’s third budget but what we were waiting to hear was where the extra money was going to come from? Had he found a “Magic Money Tree”, or would tax and...

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23rd October 2018
Beef burger in a roll

Is My Big Mac Tax Deductible?

Subsistence is a big problem area in tax. Many clients incorrectly assume that if you are working and buy a lunch or grab a snack when re-fuelling the car or van that this is fine to claim against your tax bill.

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23rd October 2018
Horse Racing

Don't Let the Taxman Ruin Your Day Out!

Entertaining clients is a legitimate business expense and can be paid out of the business account. But, you will not be able to claim tax relief for the amounts spent nor can you claim back any VAT paid. But, if there is a sponsorship element to the expenditure then the position may be more favourable.

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23rd October 2018
Classic Car

Fancy a Classic Car as Your Company Car?

Will your next company car be a classic? How would you like to drive an MGB GT or a Triumph Spitfire? This is a serious question for car enthusiasts and one several of our clients have said a big YES to! Surprisingly, classic cars can be quite tax efficient if you pick the right one....

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23rd October 2018
workplace training in the classroom

Is Training Tax Deductible?

This question is asked a lot and it is usually along the lines of…. “I would like to learn about X and there is a great course. Could I put it through my business?” Most business owners think that training costs aimed at improving skills or business profits automatically qualify for tax relief, but that’s not...

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23rd October 2018
Basket of Flowers, Wine & chocolates

Maximise Tax Free Trivial Benefits

Tax Free Trivial Benefits – Make Sure You Make the Most of This Opportunity First announced in the spring 2015 budget, new legislation clarifying the tax treatment of trivial benefits came into force from 6th April 2016. But is this an easy opportunity to extract benefits tax free from your company? The simple answer is yes!...

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22nd October 2018
Tesla Model X in Red

100% Tax Relief on Tesla Model X Continues

Do you think that all 100% tax relief cars are electrics with the performance of an old fashioned milk float? Think again. This one does 0 to 62MPH in 2.9 seconds! There’s over 130 makes and models of cars which qualify for 100% tax relief; some amazing vehicles are included on the list: BMW I8,...

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22nd October 2018
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Residence Nil Rate Band - Don't Waste This Valuable Tax Relief

From April 2017 HMRC began phasing in the ‘residence nil rate band’ which could mean large savings on inheritance tax bills for future generations. In 2018/19 it’s worth £50,000 per estate but this is set to rise to £70,000 per estate by April 2020 – so a whopping £140,000 of tax ready to be saved...

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9th October 2018

Making Tax Digital - 5 Things To Do To Be Compliant

Despite there being no public news announcements from HMRC, like the TV advert about Auto-Enrolment with the 10ft furry monster, Making Tax Digital (MTD) for VAT is still going ahead from 1 April 2019. MTD for VAT will affect almost all VAT registered businesses in some way, meaning there could be more work to do...

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9th October 2018

Tax Advantages of Furnished Holiday Lettings

Many of the recent changes in the taxation of buy to let rental businesses do not apply to property businesses that qualify as furnished holiday lettings. In particular, the restriction on deductibility of finance costs that started to apply from 2016/17 does not apply to furnished holiday lettings. It may be worth considering investing in...

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9th October 2018
aged hands over a cane

Pension Payments Can Have a Sting in the Tail

Make Pension Payments before 6 April but High Income Clients Beware the Sting in the Tail  Making a personal pension contribution before the 6th April can be extremely tax efficient. Higher rate tax payers should be able to get higher rate tax relief on their personal pension contributions. For directors with their own companies employer...

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Book Your Discovery Meeting

Are you hungry for success? If you run a small to medium size business and you want to grow your sales, increase profitability and pay less tax then you have come to the right place.