Make sure that your Personal Allowances in a Tax Year are used fully. Personal allowances CANNOT be carried forward to a later tax year.

For Capital Gains tax purposes, ensure that, where possible, transactions are carried out at the beginning of the tax year (after 6th April) in order to gain the maximum amount of time before paying tax to HMRC.

e.g. If you sold a second property after 6th April 2018 - any tax liability would not be payable to HMRC until 31st January 2020!

If you are an employee using your own car or van for your employers business*, make sure that you claim the full tax-free mileage allowance payment of 45 pence/mile for the first 10,000 miles. If your employer is re-imbursing you for less than this amount - then you need to claim tax relief on the difference from HMRC.

* not applicable to normal travel between home and work.

Hammond & Co specialise in Start Up Businesses

It's very important that, for Start Up Businesses, the record-keeping, notifications to HMRC, together with contacting and liaison with Banks and Government Agencies are dealt with in the correct way. (see FAQ's)

If Funding is required, then we have excellent links with the major High Street Banks together with good contacts within the secondary Lending Sector.

We have helped many clients achieve successful and speedy Funding applications.
Hammond and Co can also provide help and advice with your Business Plans; Cash flow Forecasts and Budgets.