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Michael O'Brien

Kreston Reeves

1 month

Michael joined Kreston Reeves in 1999 and qualified as a Chartered Accountant in 2005 before being appointed a Partner in October 2008. Michael specialises in working with clients in the technology, digital media and creative industries; including owner managed businesses and also large multinational corporations. For more tax-related advice, contact Michael on 020 7382 1820 or via email Michael.obrien@krestonreeves.com.
startup salary

Startup Surgery: Can my co-founder and I ask for a salary with our first Seed investment?
posted on May 18, 2017

Michael O’Brien from chartered accountants and financial advisers Kreston Reeves answers a reader’s question about whether those raising Seed funding can expect to take a salary.

Doctor, doctor, what accounting records do I need to keep and how should I do it?
posted on April 19, 2017

For many startups maintaining up to date financial records is not at the top of their ever-growing list of priorities, but doing so has never been easier.

Uber employment

Doctor, doctor, I’ve read about Uber’s employment case and I use contractors for my tech business, should I be worried?
posted on March 7, 2017

Our Startup Surgery’s accountancy ‘doctor’ Michael O’Brien from Kreston Reeves explains when a contractor is no longer classed as self-employed.

accountant

Doctor, doctor, I’ve just registered for VAT, can I reclaim VAT I incurred before I registered?
posted on November 17, 2016

Michael O’Brien of Kreston Reeves explains which VAT reclaims can be made once you have registered for VAT.

vat

Doctor, doctor, what is VAT and how does it affect my small business?
posted on September 29, 2016

Michael O’Brien of Kreston Reeves explores how VAT will affect your small business.

Home working

Doctor, doctor, what expenses can I claim against tax if I’m working from home?
posted on June 21, 2016

If you’re self employed and working from home, you can deduct an element of your home running costs against the profit reported in your business accounts. There are two potential methods for calculating your home running costs: 1. Simplified expenses – flat rate method HM Revenue & Customs will allow you to use the flat…

kreston reeves asking questions

Doctor, Doctor, how will Osborne’s dividend tax allowance affect small-business owners like me?
posted on May 12, 2016

The way dividends are taxed has changed dramatically from 6 April 2016 when the Government’s new rules on the taxation of dividends came into play. This impacts anyone who receives dividends from shares or unit trusts, when held outside of an ISA or Pension arrangement. However, the largest impact is on owner-managers of limited companies,…

people asking questions

Doctor, doctor, I’m a director of a small limited company, can I take dividends rather than paying myself a PAYE salary?
posted on March 9, 2016

Legally you can take dividends if the company has available distributable reserves, which may well be the case if a salary isn’t being taken. Despite the new dividend rules applying from 6th April 2016, extracting value from the company by way of a dividend remains the most tax efficient method. A summary of the change…

Startup

Doctor, Doctor, I’m starting a business from scratch, is it prudent to go straight to being a limited liability company?
posted on February 17, 2016

Unfortunately there is no “one size fits all” answer to this question and it does vary from situation to situation. If you set up a business you have three main options in the UK as to how to structure it: 1) As a sole trader (or partnership if there is more than one founder/owner) 2)…

Pile of papers

Doctor, doctor, what records do I need to keep for HMRC?
posted on January 15, 2016

Tax payers in the UK are responsible for including the correct information on their tax return, and so tax is reported on the “Self Assessment” basis, meaning that tax payers prepare and file their own tax returns (often with the assistance, advice and support of accountants) and they then pay over any tax due. However HM…

Hired

Doctor, Doctor, what should I be aware of when employing people?
posted on December 28, 2015

When you become an “employer” and start taking on employees directly rather than using contractors, you take on more responsibility for ensuring the tax and social security of those you employ is calculated correctly and paid over to the HM Revenue & Customs on time. You also take on additional requirements to pay social security…

If I sell online across the EU, are there any VAT issues?
posted on October 19, 2015

If you sell B2B, no UK VAT should be due on the sale. The sale will be outside the scope of UK VAT and the customer will have the responsibility to self-account for VAT in its own EU country under what is called the ‘reverse charge’. Ideally you should obtain and quote your customer’s EU…

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Iris Capital launches €250m European tech investment fund
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EXCLUSIVE: London-based Inploi raises £500,000, brings total to £1m
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