Charlton Baker

Award-winning accountants bringing you an expert blend of accounting, taxation, business and legal services. Find your financial freedom with everything we do.

[Charlton Baker @charltonbaker]

So this happened last night...

We won the Small Business of the Year award at the Lloyds British Business Excellence Awards! 🎉

A national award! Super happy & proud of our amazing team☺️

Congratulations to all finalists & winners & the team behind a great event

#bbea24

[Charlton Baker @charltonbaker]

Many employers assume overseas payroll means no UK PAYE obligations. That's not always the case.
Business visitors, secondments & cross-border assignments can create UK payroll responsibilities.
More here 👉🏽 https://t.co/ziwQfMC8sZ

[Charlton Baker @charltonbaker]

Can a discretionary bonus become a contractual entitlement?
A recent tribunal ruling suggests it can, once scheme conditions are met & the required approvals have been given.
A useful reminder to review bonus terms, payment caps & approval processes 👉🏽 https://t.co/T7rm906njK

[Charlton Baker @charltonbaker]

Healthcare VAT isn't always straightforward.
To qualify for VAT exemption, services must usually be provided within a professional's registration & primarily aim to protect, maintain or restore health.
Get the treatment wrong & costly liabilities can follow.
Read more 👉🏽 https://t.co/Uv6LvXKYHM

[Charlton Baker @charltonbaker]

Think VAT recovery starts when you register? Think again.
Businesses may be able to reclaim VAT on qualifying goods bought up to 4 years before registration & services purchased up to 6 months before.
A simple review could uncover valuable savings.
Learn more 👉🏽 https://t.co/Sbvbcioivn

[Charlton Baker @charltonbaker]

Buying your first home? You may be able to reduce your SDLT bill through First-Time Buyers' Relief.
✅ 0% on the first £300,000
✅ Relief available on purchases up to £500,000
Understanding the rules now could save you money later.
Read more 👉🏽 https://t.co/QMs2P7M9xs

[Charlton Baker @charltonbaker]

Claiming expenses is important. Keeping evidence to support them is essential.
Receipts, invoices, contracts & bank statements could all be requested if HMRC carries out a compliance check. Getting your records right today can save headaches tomorrow.
Read more 👉🏽 https://t.co/mXLanTy9MP

[Charlton Baker @charltonbaker]

Planning to raise investment through #SEIS or #EIS?
Advance Assurance from HMRC can help give investors greater confidence by indicating a proposed investment is likely to qualify for valuable tax reliefs.
Find out more 👉🏽 https://t.co/DanOqC0HQE

[Charlton Baker @charltonbaker]

Starting a limited company? Don't assume Corporation Tax starts at incorporation.
For many businesses, the key trigger is when the company becomes active through trading, providing services or earning income.
Find out more 👉🏽
https://t.co/3a9gIpaKLp

[Charlton Baker @charltonbaker]

Could a Deed of Variation help reduce Inheritance Tax?
In some cases, beneficiaries can change how estate assets are distributed after death, potentially creating valuable tax planning opportunities while better reflecting family circumstances.
Find out more 👉🏽 https://t.co/jYUAccMTH4

[Charlton Baker @charltonbaker]

Are you making the most of the £1,000 Property Allowance?
If you earn modest property income, you could benefit from tax-free income & simpler HMRC reporting.
The best option isn't always obvious, so it's worth checking what's right for you 👉🏽 https://t.co/GNYeKZ2TWU

[Charlton Baker @charltonbaker]

Could cash basis accounting make managing your business finances easier?
For many sole traders & partnerships, it means simpler bookkeeping, improved cash flow visibility & no tax on income you haven't received yet.
Find out more 👉🏽 https://t.co/DHKsQYa6br

[Charlton Baker @charltonbaker]

A strong year followed by a weaker one?
HMRC's averaging relief can help certain self-employed taxpayers (farmers, market gardeners, some creative professionals) smooth profits across multiple years & create a fairer tax outcome.
More info 👉🏽 https://t.co/UaZLU3LCIV

[Charlton Baker @charltonbaker]

Using your own vehicle for work?
If your employer pays less than HMRC's approved mileage rates, you could be entitled to Mileage Allowance Relief & a lower tax bill.
It's a relief many people miss.
Find out more 👉🏽
https://t.co/aHnb8wbJBO

[Charlton Baker @charltonbaker]

Economic uncertainty doesn't have to mean standing still. Businesses with regular management accounts, cash flow forecasts & clear goals are often better placed to respond to change & seize opportunities.
Discover why planning matters more than ever:
https://t.co/TxLTrXOokx

[Charlton Baker @charltonbaker]

Late payments remain one of the biggest threats to SME cash flow.
You can be winning new business & still face financial pressure if invoices aren't paid on time.
Clear payment terms, prompt invoicing & proactive credit control can make all the difference 👉🏾
https://t.co/Bc51C4zMtD

[Charlton Baker @charltonbaker]

Do you need to pay tax on money received from family?
In most cases, gifts from parents, grandparents or other family members aren't subject to Income Tax for the recipient.
But Inheritance Tax rules can still apply, so it's important to understand the exemptions available.
Read more 👉🏾 https://t.co/z2aHDi9jzl

[Charlton Baker @charltonbaker]

Wages, National Insurance, pensions & recruitment costs are all increasing.
The businesses thriving right now aren't necessarily growing headcount. They're reviewing processes, embracing technology & focusing on profitability.
More here👉🏾
https://t.co/hsvV3fTVfn

[Charlton Baker @charltonbaker]

Many businesses assume R&D tax credits are only for scientists and tech firms.
If you're developing software, improving processes, creating products or solving technical challenges, you could be eligible for valuable tax relief.
Learn more 👉🏽 https://t.co/gQ9941W4IB

[Charlton Baker @charltonbaker]

Many self-employed professionals could be missing out on valuable tax relief.
Business insurance premiums such as professional indemnity or public liability cover may qualify as allowable business expenses & help reduce taxable profits.
Read more 👉🏽 https://t.co/i3UaUUapgw

[Charlton Baker @charltonbaker]

Has your pay rise quietly increased your tax bill?
Fiscal drag means frozen tax thresholds can push more of your income into higher tax bands, even if tax rates haven't changed.
It could also affect allowances and Child Benefit.
Find out more 👉🏽 https://t.co/2BA1g4mQAi