Understanding VAT for limited companies and unincorporated businesses

For both limited companies and unincorporated businesses, managing Value Added Tax (VAT) can be a significant challenge, affecting a broad…

Companies House is changing – are you prepared?

New rules are coming into effect on 4 March 2024 which could impact your business if you are registered in…

Short-term let owners to face new planning permission requirements

For owners of an Airbnb or other short-term let properties, new planning legislation is set to come in by Summer…

Financial strategies to help you retire with confidence

Retirement planning is a crucial aspect of your long-term wealth management and is essential if you want to be financially…

Can I claim Employment Allowance for my business?

The Employment Allowance is a means for SMEs to reduce the tax burden of employing staff at critical points in…

Higher rate taxpayer? How to prepare for the end of the tax year

The end of the financial year is coming. 5 April is crunch time for making businesses and individual estates as…

HMRC U-turns on its double cab pickups tax decision

HMRC surprised all taxpayers who own a double cab pickup as a company vehicle on 12 February by announcing that…

Tax planning for MBOs – Maximising benefits, minimising liabilities

Management Buyouts (MBOs) present unique opportunities for business growth and transition.

Loophole closed: Pickups are now classed as cars (NOT vans)

A dispute between Coca-Cola and HM Revenue & Customs (HMRC) has closed the loophole that previously defined double-cab pickups as…

Five Self-Assessment deductions you didn’t know you could claim

With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable…

Starting a business: the complete checklist  

The UK economy is built on SMEs and innovative entrepreneurs.  

Understanding payroll responsibilities for apprentice wages

Managing payroll effectively is crucial, especially when it involves apprenticeship wages. Employers must adhere to government regulations to avoid potential…

Making Tax Digital – Your questions, answered

Making Tax Digital (MTD) is designed to simplify the tax process for business owners.

Investing in skills – Why SMEs should embrace apprenticeships 

Alternative routes to employment are in the National Apprenticeship Week spotlight this week. Do you think apprenticeships are right for…

Government to change tax law twice before election – How to prepare

The Chair of the Conservatives, Richard Holden, has said that there could be two more changes to UK tax law…

Attention UK Taxpayers – do you understand the 500T tax code?

The 500T tax code in the UK is a temporary, non-cumulative code used by HMRC when they lack information.

Management accounts – Why SMEs should embrace regular reporting

Consistent financial reporting needs to be a core part of your financial strategy to ensure sustainable business growth.

R&D tax credit relief changes – What business owners need to know.

Plans to significantly overhaul the current Research & Development (R&D) tax relief system were confirmed by the Government in November’s…

New payrolling of Benefits-in-Kind (BIK) system: A guide for SMEs 

From April 2026, small and medium-sized businesses will be required to report and pay taxes on employee benefits like company…

Warning to all taxpayers – Pay your taxes on time amidst rising interest rates 

As the deadline for paying any tax approaches, it is crucial you make your payments accurately and on time before…

Debt management strategies for SME business owners

Although it can have negative connotations, debt is inevitable for most businesses.

The final stretch: Navigating tax planning for the Income Tax deadline

The next Income Tax Self-Assessment (ITSA) deadline is just around the corner, so make sure you start the year off…

So, you want an electric company car? The tax perspective

Environmental consciousness is becoming more and more aligned with business operations, and electric vehicles (EVs) are becoming a popular choice…

Here’s how you can boost your SME’s efficiency and beat rising costs in 2024

If you’re concerned about how rising costs will impact your SME, you’re not alone.

Payroll tax obligations – Have you got it covered?

If you employ one or more people for paid work, it’s essential that you have a properly managed payroll.

Working remotely – What are the tax implications?

Working remotely has increased since the Covid pandemic, with 12.7 per cent of employees now working full-time from home in…

New hub for UK grant funding to launch in 2024

A significant development is on the horizon for the UK’s charitable sector with the slated 2024 launch of UK Grantmaking,…

Charity Boards and Trusts – Time for reflection

The end of the year and the beginning of another is often seen as a time for reflection. In a…

The Cost of Giving Crisis – Why the NCVO fears for charities this winter

Charities in the UK face unprecedented challenges according to the NCVO’s Chief Executive Sarah Vibert, who has launched a campaign…

Investing in legacy funding: The future of charitable giving

In the realm of charitable fundraising, a significant shift is underway. According to Smee & Ford, there has been an…

Allowable business expenses – simple ways to save money

As a business owner, you are probably aware of some of the expenses that you could claim back on in…

Savings interest for self-assessment – The impact of rising interest rates

In the current climate of rising inflation rates, many savers are seeing significant returns on their savings and investments. However,…

Solicitors need to give careful consideration to client interest increase

The Bank of England’s decision to raise interest rates in the first half of 2023 might not have been well-received…

Are you ready for changes to the Self-Assessment tax return criteria?

Recent developments in the Self-Assessment tax return criteria have brought significant changes that everyone who files an Income Tax Self-Assessment…

How Big Data is changing tax compliance and investigations

Similar to many sectors that value innovation and staying up to date, the landscape of tax compliance has seen a…

Crypto assets don’t have to be cryptic – HMRC launch new campaign

With the rapid growth of the cryptocurrency and crypto asset sector, traditional tax reporting and enforcement have been struggling to…

Demystifying VAT on international transactions

Understanding and managing Value Added Tax (VAT) is crucial for businesses that operate internationally – increasingly common in today’s business…

What is Capital Gains Tax (CGT) and how can it be offset?

These are critical questions for business owners and individuals with high-value assets to understand to maximise tax reliefs and avoid…

Cracking down on the side hustle – new rules from HMRC

HM Revenue & Customs (HMRC) have been awarded new powers by the Government in a bid to cut off a…

What changes to National Insurance mean for self-employment

Recent changes in National Insurance Contributions (NICs) have significant implications for self-employed individuals. Any self-employed person must understand what their…

Don’t forget about your ISA allowances

Individual Savings Accounts (ISAs) are a popular method of personal financial planning, offering a tax-efficient way to save and invest…

VAT deadlines and what businesses should be doing to prepare for them

Businesses must remain compliant with the requirements for reporting and paying VAT, especially with the regular quarterly for VAT under…

What SMEs can do in the event of a recession

While the end of 2023 saw inflation slow down, experts have warned that the chances of a recession in the…

Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers

HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key…

Our predictions for the SME business economy in 2024

Now that we have entered 2024, our accounting team has been making their predictions and discussing how best to advise…

How to keep your clients happy and grow your business

With the new year right around the corner, you’re bound to have big plans for your business. 

What tax benefits do hybrid vehicles offer businesses?

Hybrid vehicles are becoming an increasingly attractive option for businesses.  

Financial techniques to maximise your business’ growth

To successfully grow your business, you need to not only know your current business position but also where you want…

Implications for businesses amid soaring pension tax relief

Recent statistics reveal a significant increase in the amount of annual pension tax relief, exceeding £50 billion for the first…

HMRC reminds restaurants and takeaways of VAT obligations on hot food

HM Revenue & Customs (HMRC) has recently issued letters to restaurant and takeaway businesses across the country, emphasising the importance…

Understanding Inheritance Tax and the implications for your finances

Inheritance Tax (IHT) can be a sensitive and uncertain topic when discussing with loved ones, but it is something that…

Understanding Capital Gains Tax on property investments

Investing in property can be a lucrative venture, but it’s essential to understand the implications of Capital Gains Tax (CGT)…

Understanding IAS 32 – A guide for business owners

Accounting standards that impact businesses’ financial reporting are prone to the odd reshuffle every now and then, so it is…

Year-end tax planning strategies for #SmallBusinessSaturday

As we approach the 31 January 2024 tax return deadline, it’s crucial for sole traders, to be well-prepared and aware…

How does your locus of control influence entrepreneurial success?

Running a small business involves a lot more than juggling logistics. Knowing how to tackle and overcome challenges is an…

How SMEs should prepare for and handle tax investigations

Between the 2020/21 and 2022/23 tax years, there was a 21 per cent rise in tax investigations into SMEs, highlighting…

How to use the new HMRC app for your tax returns

For small businesses navigating the Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative, tax returns can be complex.

Autumn Statement 2023

With a General Election looming on the horizon, Jeremy Hunt rose to deliver his second Autumn Statement as Chancellor in…

Becoming a freelancer – setting up a limited company

When making the decision to become a freelancer, you have two options. You can either set up as a sole…

How fintech lending can help SMEs unlock new financing opportunities and boost growth

The current economic climate is less than favourable for small and medium-sized enterprises (SMEs).

How the King’s speech could affect your business finances

His Majesty the King’s speech, at the state opening of Parliament, is a significant event for businesses and financial professionals…

Everything you should know before becoming a sole trader

Starting a freelance career marks a significant transition from traditional employment but it’s a decision that many are nervous to…

What businesses need to know about recent updates to payroll

The Department for Business and Trade has recently released feedback on two major consultations concerning payroll and holiday entitlements. 

How can the Marriage Allowance save you money?

There are many financial and legal benefits to being married or in a civil partnership, but one of the most…

A look at the scalability of in-house vs outsourced accounting

As a business grows, its accounting needs become more complex and time-consuming.

How will the new Procurement Act benefit SMEs?

The recent Royal Assent of the Procurement Act marks a significant milestone in the evolution of public procurement.

Is unconscious bias impacting your business decisions?

When it comes to business decisions, taking an objective view is essential. But distinguishing your thoughts from the facts is…

Understanding loss carry-back claims

In the unpredictable world of business, it’s not uncommon for companies to experience financial losses.  

BOO-st your tax planning this Halloween

When it comes to tax planning, timing is everything.

How can you leverage automation in your accounting process?

Most businesses are already using cloud accounting software to manage their finances. However, not all of them are taking full…

100 days until the Self-Assessment deadline: Are you ready?

We are now only 100 days away from the Self-Assessment tax deadline on 31 January 2024.  

Why you should use double-entry bookkeeping in your business finances

The term “double-entry bookkeeping” is often mentioned as a cornerstone for managing a business’s finances.

The impact of Capital Gains Tax in estate planning

Capital Gains Tax (CGT) is one of those terms that often elicits a groan from private clients, but understanding its…

Paper VAT registration to be abolished in latest digital move

In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT…

What business owners need to know about meeting PAYE deadlines

Among the long list of financial responsibilities that you must handle as a business owner is ensuring PAYE is made…

Could you afford a financial data GDPR breach?

In today’s digital age, data protection has become a paramount concern for businesses of all sizes.

How management accounts can help your business

Management accounts are vital in keeping on top of your business’s performance. But what are they, and how do they…

Secure your financial future – Plan ahead and send Self-Assessment returns early

Recent data from HM Revenue and Customs (HMRC) reveals a significant trend – an increasing number of UK taxpayers are…

The crucial role of sales forecasting

As an owner of a small to medium-sized enterprise (SME), juggling numerous responsibilities comes with the territory. Overseeing operations and…

How the National Living Wage increase could affect businesses

At the latest Conservative Party conference, it was confirmed that the National Living Wage will be officially rising to £11…

How HMRC’s new online tools can help you simplify taxation

HM Revenue and Customs (HMRC) has always been at the forefront of embracing technological advancements to make tax-related processes more…

How could new “open banking enhancements” benefit your business?

Your business could benefit from a new scheme being run by HM Revenue & Customs (HMRC).

Tax reliefs business owners can claim amidst record Corporation Tax payments

HM Revenue and Customs (HMRC) recently reported a record-breaking increase in Corporation Tax receipts for the 2022/23 tax year.

18-year-olds to be included in auto-enrolment expansion

A recently approved Bill proposing an extension to the auto-enrolment (AE) scheme will facilitate “earlier and increased savings” for millions…

Five strategies for leveraging financial forecasting

In the dynamic world of business, financial foresight is not just a luxury; it’s an essential ingredient for success.

Closing on the inaugural Economic Crime Levy payment – What you need to know

As we approach the end of September, businesses across the UK are gearing up to meet the inaugural deadline for…

Three steps to simplify your accounting

Accounting doesn’t have to be a time-consuming and complicated task.

Crafting success: Selecting the right business framework

In order for your business to be both financially secure and successful, you need to ensure you choose the right…

Have your employees claimed their pensions? What business owners need to know

The issue of unclaimed pensions is a growing concern, with numerous individuals unaware of the pensions that are rightfully theirs.…

Business expenses you didn’t know you could write off

When you’re running a small business, every penny counts, including those you can save through legitimate tax deductions.

Cloud-powered accounting: Advancing beyond traditional cloud accounting systems

In modern businesses, cloud accounting has now become the norm rather than the exception.

Planning for Inheritance Tax challenges as penalties surge in 2022/23 tax year

While Inheritance Tax (IHT) is a topic that many find uncomfortable to discuss, it is an unavoidable aspect of estate…

How to save £2,000 in taxes on your childcare costs  

A Government scheme could help parents save up to £2,000 on their childcare costs through tax reliefs aimed at working…

Best practices for business and personal finances

Mixing personal and business finances is a common mistake that many entrepreneurs, freelancers, and small business owners make.

Cash flow vs profits: a guide for small business owners

As a small business owner, you’ve likely heard the terms “cash flow” and “profits” used interchangeably. However, mixing these financial…

Three things to consider when forecasting your finances as a small business owner

Forecasting is the act of looking at past and present financial data to predict future costs, expenses, and profits. Small…

Navigating estate planning and Inheritance Tax: what you need to know

HM Revenue & Customs (HMRC) recently announced that Inheritance Tax (IHT) receipts were up by £200 million between April to…

Self-Assessment benefits for small businesses

As a small business owner, you are probably familiar with the term ‘Self-Assessment’. While many entrepreneurs link Self-Assessment primarily with…

The role of cloud accounting in modern businesses

In today’s digital age, the way businesses manage their finances has seen a seismic shift, largely due to the introduction…

Understanding Director’s Loan Account (DLA) and the risks involved

Directors might opt to either lend money to or borrow from their own company. This type of transaction is called…

What tax implications can come with depreciation?

For business owners, understanding depreciation is not just about accounting practices but also about handling their taxes efficiently.  

Staying up to date with MTD for ITSA

In December 2022, the plans for Making Tax Digital for Income Tax Self-Assessment changed again, as the Government announced that…

Understanding tax obligations for charities

Knowing your charity’s obligations to HM Revenue & Customs (HMRC) is important, as you will have different requirements to standard…

Capital Gains Tax for SMEs – Recent trends and compliance

Collections of Capital Gains Tax (CGT) reached a record £16.7 billion in the last tax year, a notable increase from…

Top tips for being a successful business owner amid financial challenges

Running a successful business in the UK is a challenging yet rewarding endeavour.  

Everything you need to know about Government Start Up Loans

Starting your own business can seem daunting, especially when it comes to finding funding. 

How businesses can navigate and avoid tax disputes with HMRC

Tax disputes can be a significant drain on resources for any business, and with recent data suggesting that over 60…

Beneficiaries could see inherited pensions taxed as new proposals by HMRC are published

Currently, if someone dies before the age of 75, their pension can be drawn out by beneficiaries’ tax-free, as it…

Research and Development Tax Relief Changes

The Government has recently updated some elements of the Research and Development (R&D) tax relief application process.

HM Revenue & Customs pledge £5.5 million to support customers

HM Revenue & Customs (HMRC) has recently stated that they will pledge £5.5 million to organisations who are in the…

Understanding ESG investments – What should you know?

The financial landscape in the UK, as well as globally, is in a constant state of change.

Adapting your business plan for the summer

With the summer holidays nearly here, small businesses, especially in the hospitality industry, face a distinct set of challenges.

How businesses can tackle late payments while preserving business relationships

There can be nothing more frustrating for business owners than waiting on payments from clients.

Ensuring your small business is prepared for the future

In the ever-changing business landscape that we see today, merely reacting to events as they occur is not enough.

Preparing your business for a merger or acquisition

Mergers and acquisitions (M&A) are often completed to gain market share, increase revenue, or expand business amongst many other things.

What expenses can limited companies and sole traders claim?

Whether you are the owner of a limited company or a sole trader, it is important to understand the expenses…

Exit strategies – What should you consider for when the time comes?

Exiting a business is a significant milestone for any entrepreneur or business owner.

Are you aware of the Government’s Marriage Allowance?

As of February 2023, HM Revenue & Customs (HMRC) estimated that over two million people are unaware of the Marriage…

An overview of the Construction Industry Scheme and what it means for your business

The Construction Industry Scheme (CIS) is a Government initiative that allows contractors in the construction industry to deduct money from…

Understanding salary and dividend payments for business owners and directors

As an owner or director, it may be possible for you to pay less tax on your income from your…

Understanding and navigating job expenses

Navigating job expenses can seem daunting at first glance. There are a plethora of rules and regulations that can leave…

Managing an Overdrawn Director’s Loan Account

Are you a company director contemplating a loan from your own business? If yes, it’s crucial to understand the workings…

Is cloud accounting the future for businesses?

In the world of entrepreneurship and small businesses, technology continues to revolutionise the way we manage our operations.

The importance for businesses of avoiding tax fraud

HM Revenue & Customs (HMRC) recently announced that it plans to boost its use of Code of Practice 9 (COP9),…

How to spot the early signs that your business may be facing financial difficulty

Many businesses across the UK have been financially affected by the cost-of-living crisis and the rise in inflation and have…

HMRC issues extension to deadline for voluntary National Insurance contributions

The Government has recently announced an extension to the deadline for individuals to pay voluntary National Insurance contributions (NICs), in…

Hybrid company cars: What do you need to know?

With the sale of new petrol and diesel cars set to cease in 2030 and rising fuel costs, the demand…

New HMRC service allows businesses to set up online payment plans for VAT owed

HM Revenue & Customs (HMRC) have recently confirmed that businesses that owe less than VAT £20,000 can now set up…

Major pension reforms sparks rethink for UK savers

Several significant changes were announced by the Government in the 2023 Spring Budget regarding the annual allowance and the lifetime…

What are the different types of car financing?

A range of car financing options are available for individual buyers and businesses alike.

Corporation Tax: Upcoming filing deadlines and reminder about recent amendments

Recent changes HM Revenue & Customs (HMRC) made to the rate of Corporation Tax mainly affected larger businesses in the…

Self-Assessment tax returns threshold to change for 2023-2024 tax year

HM Revenue & Customs (HMRC) has revealed plans to increase an individual’s income threshold before being required to submit a…

The benefits of outsourcing payroll in the tourism industry

While all businesses are free to manage their payroll in-house, there are many benefits to outsourcing this to an expert…

Essential financial metrics every business owner should track

Understanding the financial health of a business is integral to its success, regardless of the industry or the size of…

Key factors to consider when starting a business

Setting up a new business is not merely about innovative ideas or immense passion. It also demands careful planning and…

R&D tax relief rates – Have your plans adapted to the recent changes?

The UK Government has long encouraged businesses to invest in R&D projects, believing it to be at the forefront of…

Landlords should bring UK tax affairs up to date before Renters Reform Bill is enforced in law

The Government is looking to introduce the Renters Reform Bill, which if made law, will be the biggest shake-up to…

Benefits of hiring an accountant for your start-up

Running a start-up can take its toll, with the inevitable early struggle of managing and overseeing every role within the…

Tips for launching a seasonal business

The allure of a seasonal business is strong for many entrepreneurs.

Strategies for SMEs: Surviving the interest rate hike

As interest rates in the UK rise, small and medium-sized enterprises (SMEs) will undoubtedly feel the pinch.  

What do you need to know about Income Tax?

If you’re feeling unsure about your Income Tax obligations, it’s important to understand what you are required to pay, how…

Quarterly VAT return and payment deadline approaching

Most businesses in the UK will need to submit VAT returns and payments every three months, with strict deadlines for…

VAT penalties for late filing or payments – be aware of the changes

HM Revenue & Customs (HMRC) has removed the default surcharge for late payments of VAT and replaced it with what…

UK Corporation Tax for start-ups: what you need to know

Corporation Tax is a critical element that start-ups need to be aware of when starting their new venture.

Social value strategies and the benefits for your business

The actions of organisations and their impact on their community are scrutinised heavily.  A business can often see its reputation…

Changes to the Seed Enterprise Investment Scheme (SEIS)

The UK has long been a hub for budding entrepreneurs and start-ups, with innovative ideas and new businesses emerging every…

Taxes you should know before starting a business

Starting a business is an exciting venture for aspiring entrepreneurs, and it is important that you become well-versed in all…

Better Business Day and what it means for start-ups and SMEs

New start-up businesses in the UK are as abundant as ever, but issues within society, climate change, and the cost…

Employee expenses and benefits: How to submit a P11D form

Do not be stung when rewarding employees. Avoid penalties on employee benefits by correctly submitting P11D forms.

Understanding IR35 and its implications for employers

If your business engages off-payroll workers, it’s essential to be familiar with IR35 and its potential impact on your operations.

Tips and tricks for maintaining your cash flow

Reviewing and maintaining your cash flow is essential for business growth.

The importance of financial reports as a business owner

As a small business owner, you will be in charge of many things and must juggle many responsibilities.

How can you prepare for the basis period reform?

We are currently in the transition period for the basis period reform, which is set to come into full effect…

Financial considerations of building a new brand

When it comes to creating a new brand, considering your finances is a vital part of the planning stage as…

Preparing your business for the summer

If you run a business in a tourist hotspot, you need to get prepared for the summer.

What salary should I take as a director of a limited company?

Being a director of a limited company means having the ability to pay yourself in a different manner to being…

Don’t forget about P60 forms

With the tax 2022/23 tax year soon coming to an end, you need to be prepared to provide your employees…

Invest in your peace of mind: How an accountant can reduce financial stress

Managing finances can be a complex and time-consuming task, especially for business owners and professionals.

Is your business ready for the new tax year?

Getting the tax year off to a good start will help you to optimise your overall financial position. But you…

Capital allowance – Changes for plant and machinery expenditure

Capital allowances are a form of tax relief for businesses. They allow you to subtract some or all of the…

How to prepare for business succession

The pandemic and lockdowns would have had many businesses considering the future and what may happen if they become ill…

How will the changes in the Spring Budget affect pensions?

During the 2023 Spring Budget, the Chancellor announced changes to pensions, which may alter the way you save for retirement.

Supreme Court rules roof replacement company must pay £2.5 million VAT bill

A roof replacement company has been hit with a £2.5 million tax bill after a ruling that the insulated roof…

How to prepare for payroll year-end

As the end of the financial year approaches, businesses across the UK are preparing to navigate the intricacies of payroll…

Embracing the future: AI and automation in cloud accounting

Artificial Intelligence (AI) is becoming increasingly advanced so, as a business owner, you need to get on board or you…

Spring Budget 2023

Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the…

How do I grow my business internationally?

Many businesses find that they have gone as far as they can in the domestic market and are looking for…

Digital fraud: What do you need to know?

Digital fraud, also known as cyber fraud or online fraud, refers to any type of fraudulent activity that takes place…

Have you made your voluntary National Insurance (NI) contributions?

You will now have more time to make any voluntary National Insurance (NI) contributions, as the deadline has been extended.…

How you can improve your business performance

You are an established business and doing well, but you are still ambitious and looking to improve and expand.

Travel expenses: What do you need to know?

Travel expenses are costs incurred by an employee whilst travelling on behalf of their company, which is away from their…

Are you handling your records effectively?

Effective financial record keeping is crucial for any business owner to maintain compliance with tax regulations and gain a clear…

Self-Assessment taxpayers warned of next payment deadline

Taxpayers have been reminded that a penalty deadline for unpaid Self-Assessment tax is imminent.

Tips for preventing late payments as a small business

Small businesses saw a sharp increase in the length of time clients took to pay their invoices last month, according…

The VAT filing deadline is approaching: How to get prepared

It’s important to stay up to date with the latest regulations and requirements related to taxes, including Value Added Tax…

What should you consider when starting your own business?

Starting a business can be an exciting and rewarding experience.

10 Common Accounting Terms, Explained

Having general accounting knowledge is crucial for any business owner, especially during tax season. Understanding common accounting terms is highly…

What do you need to know about Inheritance Tax?

Are you thinking about the tax implications of your estate and what this could mean for your loved ones after…

How to navigate your first year as a business

Starting your own business is a major achievement and you will have spent a lot of time planning this venture…

How can you deal with VAT return errors?

If you are running a business, handling VAT returns can be complex. You may have submitted returns with errors previously…

Businesses need to be prepared for changes to business rates from April

The Valuation Office Agency (VOA) has updated the rateable values of all business, and other non-domestic, properties in England and…

Top tips for starting a hospitality business

Are you hoping to run a successful start-up in the hospitality sector?

Ready to make a move to the cloud – Find out how you can migrate smoothly

Cloud accounting offers many useful features that can help to save time and make your business more efficient.

How to handle an overdrawn director’s loan account

As a director, have you ever considered taking a loan from your company? If so, it’s important to be aware…

What do I need to do when selling my business?

Selling a business in the UK can be an exciting journey for those looking for opportunities to expand their portfolio.

What do you need to know about salary and dividends?

If you are a business owner, you need to consider what to take in salary or in dividends.

What you need to consider when starting up a business

With a new year upon us, you may be considering a new start by setting up your own business.

How to prepare before onboarding staff

As a new business owner, you may feel you can manage your workload single-handedly.

How to protect your business in the cost-of-living crisis

The cost-of-living crisis can be a challenging time for businesses, with many additional costs being added to business expenses.

Large number of over 65s file Self Assessment tax return

The 2021 to 2022 tax year saw a considerable amount of people aged 65 and over filing a tax return.

What is the reason for changing a business structure?

There are many reasons for changing how a business operates which may include changing relationships between business and customers. As…

How can your business overcome cash flow issues?

During the cost-of-living crisis, you may be feeling concerned about the cash flow of your business.

HMRC penalties alert as 5.7 million still to file tax returns

Taxpayers have been warned that they could face a penalty after HM Revenue and Customs (HMRC) said 5.7 million were…

How hospitality and tourism are transforming in the UK

With the UK’s hospitality and tourism sectors continuing to evolve, the pandemic and cost-of-living crisis have played a big role.

How can your businesses cut costs?

As the cost-of-living crisis continues, your business might be looking for ways to cope with soaring energy bills and interest…

Thousands file tax returns on Christmas Day

More than 22,000 taxpayers went online over Christmas Eve, Christmas Day and Boxing Day to complete their Self-Assessment tax return.

How to read a set of management accounts

In order to grow and succeed, you need to effectively manage your finances and monitor the health of your business.

Is your business going for growth? Here’s some things you need to think about

You have overcome those initial obstacles in starting a new business and are now trading comfortably. The question is, where…

MTD for ITSA postponed by two years

The Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative has been delayed by two years, it has been…

How the personal allowance works

Understanding your income tax and personal allowance is important when looking at your finances and how you are taxed.

Plastic Packaging Tax – How to comply

Businesses have faced a new Plastic Packaging Tax (PPT) since April 2022, which affects plastic packaging manufactured in or imported…

What you need to know when setting up a business

Starting a business is an exciting venture and opens up opportunities and the chance to be your own boss.

How can I make best use of management accounts?

As a business owner, the financial health of your company plays a key part in every decision you make.

How to grow your business

Are you thinking about ways to grow your business but are unsure of where to start? Look no further.

Furnished Holiday Let Tax: What do you need to know?

A furnished holiday let (FHL) is a particular type of rental property classification in the UK.

The Christmas gift allowance: how it works

Are you planning on treating your staff or clients this Christmas? Christmas gifts can be subject to tax, so it…

A guide to National Insurance and State Pension eligibility

Introduced in 2016, the new State Pension is a payment based on your National Insurance record when you get to State Pension…

How small businesses can navigate the festive period

For most small businesses, Christmas is the busiest time of the year, which has a large impact on yearly revenue.

Why debt isn’t always bad

Taking on debt may make you feel worried, but while debts are often viewed negatively, they can actually have many…

The importance of cash flow for tourism businesses

With the busy Christmas period approaching, businesses operating in the hospitality and tourism sector will be dealing with increased demand.

Landlords targeted over undeclared income from residential property

Landlords are being targeted by HM Revenue & Customs (HMRC) over what appears to be undeclared rental income or income…

Why you should revise your business strategy

With current economic difficulties, it is crucial to ensure that you have a detailed business plan. As inflation rises, you…

Autumn Statement 2022

The message from the Chancellor, Jeremy Hunt, in the days before he rose to the despatch box in the House…

Accountants helping businesses make savings, says survey

Accountants are saving businesses time and money as well as easing the pressure of rising inflation, according to a new…

Are you missing out on tax-free corporate investment allowances?

When it comes to running a business, you must keep up with the ever-changing industry you are a part of.

Simplifying filing obligations

Are you aware of the change to filing accounts at Companies House? If not, there are penalties for mistakes, so…

The significance of ‘One To Many’ letters from HMRC

Letters have been sent out to individuals listed as ‘Persons of Significant Control’ (PSC), urging them to check and, where…

Capital Gains Tax: What do you need to know?

Capital Gains Tax (CGT) is a tax applied on the profit you receive when disposing of an asset.

New VAT penalty regime – What do you need to know?

HMRC is launching a new penalty regime where VAT returns are submitted late or VAT is not paid on time.

Avoiding obstacles with the Construction Industry Scheme

Under the Construction Industry Scheme (CIS), contractors take money from a subcontractor’s payments and send it to HM Revenue and Customs…

Supporting staff through the cost-of-living crisis

Many UK employers are topping up pay packets of valued employees with a cost-of-living payment when they are unable to…

Have you filed your online Self-Assessment form?

The clock is ticking for taxpayers, as the countdown to submit online Self-Assessment tax returns has begun.

Top tips for launching a successful start-up

Starting a new business can be a daunting and challenging prospect.

How SMEs can avoid becoming victims of fraud

With SMEs throughout the country struggling to grow and maximise profits, given the economic headwinds, fraud could be a major…

Management Accounts: Why do you need them?

Management accounts are a set of regular reports created to provide insight on the financial performance of your business.

Looking to grow – What are the benefits of networking? And how can your accountant help?

Communication and networking may not seem a priority for busy SMEs struggling against economic headwinds at the moment.

Tax-free shopping for overseas visitors scrapped

Recent plans to reintroduce tax-free shopping for international visitors in the UK have been scrapped.

Is this the end of paper-based trading documents?

Did you know that an estimated 28.5 billion paper trade documents are printed and distributed across the globe every day?

Self Assessment customers could be a target for fraudsters as deadline approaches

With the deadline for returning paper Self Assessment tax returns for the 2021 to 2022 tax year rapidly approaching, HM…

Flat Rate Scheme: What do you need to know?

When running a business, ensuring you get VAT right is vital. So, how can you make things easier?

What does ESG mean for your business?

Environmental, Social and Governance (ESG) is a set of regulations designed to assess a business’ influence on society, the environment,…

UK set to review foreign worker visa conditions to ease labour shortage

As the UK labour shortage continues, it has been reported that Prime Minister Liz Truss is to launch a review…

Will the falling pound help boost tourism?

Acting as a silver lining amidst a storm of uncertainty, the crashing pound is likely to attract more US visitors…

33,000 new loans available for small businesses

An £884 million loan scheme for new businesses is to be expanded, it has been revealed.

Will you be paying less Income Tax from April?

During last week’s mini-Budget, The Chancellor, Kwasi Kwarteng made extensive changes to taxation.

Corporation Tax rise axed as Chancellor aims for growth

Chancellor Kwasi Kwarteng’s mini-Budget has scrapped a planned rise in Corporation Tax as part of a wide-ranging raft of tax-cutting…

Are you a sole director operating under the Model Articles?

A recent legal case has concluded that private limited companies operating under Model Articles must have at least two directors.

What do you need to know about the Energy Bill Relief Scheme?

The Government has outlined a new Energy Bill Relief Scheme to support households, businesses and public sector organisations tackling soaring…

How a ‘fiscal event’ differs from a Budget

A ‘fiscal event’ is to be delivered on Friday, setting out what help is to be made available to get…

Late payments: A big cost for small businesses

Late payments are costing small businesses £684 million per year, in addition to rising inflation, data has revealed.

Tourism Tax – Will it help or hamper small tourist businesses?

Several cities, including those in the UK and the EU, are considering introducing a tax on visitors.

Can apprentices help with your skills shortage?

Many UK businesses are having problems with recruitment as the number of job vacancies has soared over the last 12…

What can you do to help your employees? Handy tips to help them cope with the cost of living crisis

With the ongoing cost of living crisis, people are continually looking for ways to save money. Whilst buying discounted food,…

IR35 review set to simplify guidelines on compliance

The off-payroll guidance for clients, contractors, and their intermediaries is set to be reviewed by HM Revenue & Customs (HMRC).

How can SMEs handle the cost of living crisis?

The current cost of living crisis in the UK has already seen the economy decline, with customers saving money and consuming…