Many people think of cryptocurrency as an investment: something you could buy in the hopes that it will increase in value. But Bitcoin and other cryptocurrencies are increasingly creeping into day-to-day life and becoming a real financial consideration for individuals who might have previously seen cryptocurrency as
Read more →A company can pay dividends to its shareholders at any time as a reward for investing in the business and as a way of distributing company profits. Because of the way that they are awarded, however, many directors unknowingly pay illegal dividends. How are dividends paid? Two
Read more →Our last blog answered some big questions: What is Cryptocurrency? And how might crypto tax and crypto assets impact my finances? But there’s a lot more to understand about cryptocurrencies. Our experts have increasingly been asked to explain Bitcoin mining, or crypto mining, and how to declare
Read more →Many small business directors find themselves in a position where they want to borrow money from their cash rich businesses. It’s tempting to draw down funds using their Director’s Loan Account (DLA), however, many do so without fully understanding the potential tax consequences. Is the loan affordable?
Read more →Cryptocurrency is the buzzword of 2021 – but what is it, and how does it affect you? A cryptocurrency is a digital or virtual currency that uses cryptography as a security feature, making it almost impossible to duplicate or counterfeit. Cryptocurrency is growing in popularity as a
Read more →We’re reminding clients who’ve utilised the furlough scheme that the Government’s contribution towards employee wages will be reduced from 1st July. From this date, employers will only be able to claim 70 per cent of employee wages and will be required to top this up to 80
Read more →Changes in the way buy-to-let landlords are taxed on their numerous properties have led to a rise in the number of property-related companies registered in the UK. Over the course of several years, the Government has introduced new rules making it less attractive to own investment properties
Read more →While social media influencing is a relatively new profession, at Champion Accountants we come across recurring questions from influencers who want to pay their fair share of tax. High on the list of queries are the issues surrounding gifts, freebies and samples sent to influencers, and whether
Read more →VAT registered business are not required to make VAT payments that are due from 20 March 2020 to 30 June 2020. This relief is automatic: it does not need to be claimed. Your VAT liability and payment is not cancelled, it is deferred. Any VAT liability will
Read more →The clock is ticking for business owners who want to benefit from substantial tax relief on big ticket purchases such as plant and machinery. December 2020 sees the end of the temporary increase to the Annual Investment Allowance (AIA). This is the 100 per cent upfront allowance
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