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How to apply the triple bottom line framework in a small business
If you or your business are involved with crypto assets, it is important to be aware that tax may be payable on certain transactions. We can help you determine which taxes apply and quantify how much tax you may need to pay.
Very broadly, when you dispose of a crypto asset exchange token, such as Bitcoin, you may need to pay Capital Gains Tax (CGT) if you sell the token at a profit.
Equally, you may have to pay other taxes if you receive cryptoassets.
If you’d like a summary of the main tax implications from buying, selling and investing in cryptocurrency, please read our compressive guide, which covers the following topics:
The tax treatment of cryptocurrency is subject to change due to the evolving nature of the underlying technology and the tax authorities evolving interpretation of the tax rules. The facts need to be established before applying the relevant tax rules and TaxAssist Accountants are experts who can help you apply these complex rules to your particular circumstances.
Brightbooks Accountants can provide a comprehensive crypto currency solution to individuals and businesses so your crypto taxes can be prepared quickly and efficiently.
Directors can receive bonuses and these are often annual and tied to performance. Like a salary, bonuses are subject to income tax and National Insurance Contributions where applicable.
An employers' NIC bill must be paid each month or quarter depending on how you run your payroll. It is paid along with any PAYE tax due to HMRC. You can pay your employers NIC liability online, or you can make a bank transfer or pay by cheque. You must allow time for your payment to clear by the deadline of 22nd of the month.
If you are a director of a limited company, you can receive a salary, bonus and receive benefits. If you are also a shareholder you can be paid a dividends from post-tax profits. For more information on how to pay yourself from a company, including the balance of salary and dividend income and what will affect your decision in our guide to directors’ pay.
How to apply the triple bottom line framework in a small business
Why DIY accounting could be more expensive than you think
When should you switch accountants?
Arrange a free consultation in person or via video with your local accountant. It’s an informal chat to get to know you and find out more about the help
We clearly explain the support available to you and are happy to act as business advisors in order to help you grow your business.
Our fees are fixed and tailored specifically to each individual's needs, so that you only pay for the level of support and services that you require.
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
We specialise in supporting independent businesses and work with 100,000 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 409 locations, meet with us online through video call software, or talk to us by telephone.
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.