2024-04-22 11:56
In the vibrant heart of Hull and East Yorkshire, a region celebrated for its rich heritage and entrepreneurial vigour, micro and small business proprietors face the ongoing challenge of deci… Read More
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As of now, you might to a small scale industry, which needs only a very few specific features in the bookkeeping software.
2024-04-17 09:51
Intro: If your idea of networking involves tee times and fairways, you might wonder if those branded golf balls are a smart business expense. Good news: they often are, but HMRC has some spe… Read More
2024-03-25 20:24
Embarking on the entrepreneurial journey is no small feat. It’s a path paved with dreams, aspirations, and, quite often, significant financial investment before the first sale is ever… Read More
2024-03-25 20:23
Setting the Stage for Property Investment Embarking on a property investment venture in the UK is an exciting endeavour for any aspiring investor. This journey not only promises substantial… Read More
2024-03-25 20:22
Navigating the Waters In the rapidly evolving UK business environment, the agility to adapt to staffing needs is a crucial asset, particularly for micro and small businesses. Umbrella… Read More
2024-03-11 10:46
Spring Budget – A budget for long-term growth?
Jeremy Hunt, Chancellor of the Exchequer, delivered his Spring Budget 2024 speech on 6 March 2024. This potentially is the last budget… Read More
2024-03-04 13:39
Understanding the pros and cons of the VAT Flat Rate Scheme for businesses
Value Added Tax (VAT) is a significant consideration for businesses. It impacts your cash flow, the amount of ad… Read More
2024-03-01 13:39
Pretty much every business out there has growth as a goal. Increasing the size and scope of your business improves its financial health along with your own, personal income. However, before… Read More
2024-02-28 13:38
Exploring tax implications: Limited company vs Sole Trader
When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is… Read More
2024-02-27 13:38
One of the big changes brought about by covid-19 and the cost of living crisis is the huge growth in the number of self-employed people in the UK, especially those running a home business. T… Read More
2024-02-20 13:38
Being self employed can be rewarding and extremely satisfying. For many people it is an opportunity to fulfil ambitions and personal aspirations. Whilst running your own business there will… Read More
2024-02-20 13:37
Navigating recession: Key considerations for your business
The Office of National Statistics released official figures last week showing the UK is now officially in recession.
Gross do… Read More
2023-08-17 10:05
Free Bookkeeping Software for Charities: Introducing Pandle Charity organisations have a crucial role in our society. They make a significant difference, providing support and raising funds… Read More
2023-07-24 17:04
Financial planning is a crucial aspect of securing a stable and prosperous future. Whether you are an individual or a business owner, making informed financial decisions can significantly im… Read More
2023-06-28 14:10
The advent of a new tax year offers the ideal chance to formulate strategies aimed at reducing your tax bill for the forthcoming year. Whether you’re juggling multiple jobs, managing s… Read More
2023-06-15 09:00
Understanding VAT (Value Added Tax) and when to register for VAT is crucial for businesses as it plays a significant role in the financial landscape. The VAT threshold, set at £85,000… Read More
2023-06-06 19:26
Looking for support regarding pensions for the self employed? Are you among the many self-employed individuals unaware of the tax concessions linked to your pension? With the freedom of bein… Read More
2023-05-22 08:42
If you’re a business owner, there have probably been times when you ask yourself “Do I Need An Accountant If I Use QuickBooks?” There are countless options available when i… Read More
2023-03-31 16:21
With the self-assessment deadline approaching, it’s time to get your tax affairs in order. Being proactive and well-informed about tax reliefs and allowances can save you money and hel… Read More
2023-03-29 09:36
Written by 27 March 2023 Business News England Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your… Read More
2023-03-23 08:34
What is Inflation? How Does it Affect UK Individuals and Small Businesses? Introduction As a small business owner or an individual living in the UK, you’ve probably heard the term &ldq&hell…Read More
2023-03-06 14:38
Written by 06 March 2023 Business News England Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your… Read More
2023-02-27 16:19
Written by 27 February 2023 Business News England Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect yo… Read More
2023-01-31 20:42
5 Tips to Keep Your Capital Gains Tax as Low as Legally Possible There are a lot of different taxes in the UK, and it’s important that you’re aware not only of what affects you … Read More
2023-01-13 11:39
Written by 9 January 2023 Business News England Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your… Read More
2023-01-12 11:23
Handling your payroll isn’t easy, it can be expensive, it has absolute deadlines, and there are lots of moving parts that vary from month to month, depending on what your staff situati… Read More
2023-01-10 14:20
The goal of any business is to make money, and as that happens, the company begins to grow and change. As these changes happen, so to do the responsibilities and thresholds where tax is due… Read More
2023-01-05 16:21
Getting your payroll done is one of the most important tasks that you have as an employer – your staff and team are counting on you to get it done on time, and correctly – becaus… Read More
2023-01-03 09:39
Keeping up to date with your legal obligations and knowing what has to be submitted to HMRC (and when) can be tricky business, there are a LOT of different forms out there – and each o… Read More
2022-12-29 09:18
Being in business for yourself is exciting, engaging, and sometimes – exhausting; especially if you’re trying to handle everything yourself. HMRC (the Tax Office) require a… Read More
2022-12-26 17:28
The very short answer is, yes! With the right permissions and arrangement, they can, but let’s go into a bit more detail. When you’re setting up or running a Limited (Ltd)… Read More
2022-12-22 17:14
What Are Personal and Business Expenses? Why Do You Need to Take Care of Them? Expenses are one of those things that occur both in your business and daily life, and when it comes to reportin… Read More
2022-12-19 12:46
Written by 19 December 2022 Business News England Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect yo… Read More
2022-12-15 15:13
What’s the Best Accounting Software for You? Quickbooks vs Xero There are a lot of different accounting software available on the market, and they all have different functions, applica… Read More
2022-12-13 22:10
Written by 12 December 2022 BUSINESS NEWS ENGLAND Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect yo… Read More
2022-12-10 10:07
How Do You Appeal a Tax Penalty or Fine? Are There Time Limits Involved? No one wants to get behind with their legal obligations, and paying what’s owed to the Tax Office, but so… Read More
2022-12-07 19:29
Practice News Update LINKTR.EE Find all our useful links and free downloads on our Linktr.ee page. You can also subscribe here too! Take a look here. ARE YOU STRUGGLING WITH YOUR SELF-ASSESS… Read More
2022-12-06 18:17
Are there particular tax and accounting rules for hairdressers? What VAT rules are there for hairdressers? Below is a summary of the key expenses that hairdressers ca… Read More
2022-12-02 14:59
Getting your payroll done, and all your accounts organised can already be a time-consuming task, and there’s nothing worse than getting yourself all prepared and ready, and then findin… Read More
2022-12-01 10:35
Practice News Update LINKTR.EE Find all our useful links and free downloads on our Linktr.ee page. You can also subscribe here too! Take a look here. DO YOU NEED SOME FUNDING? We have a team… Read More
2022-11-23 08:33
Written 21 November 2022 BUSINESS NEWS ENGLAND Welcome to our round-up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your… Read More
2022-11-15 08:49
Written 14 November 2022 Business News England Welcome to our round-up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your… Read More
2022-11-08 09:53
PRACTICE NEWS READ OUR BLOG We post on our blog multiple times each week. This week: “Can Directors Claim Sick Pay?” “What Records Does a Sole Trader Need to Keep ?”… Read More
2022-11-04 08:46
For some people, eBay is a convenient tool for getting rid of unwanted personal possessions, but many small businesses are utilising the site as their main eCommerce platform. So Do Yo… Read More
2022-11-03 21:13
What Records Does a Sole Trader Need to Keep for their Accounts? Being self-employed can be a lot of hard work, but when it’s going well – it’s so rewarding, being y… Read More
2022-10-31 19:21
Are Directors Entitled to Claim Sick Pay? Can Directors Claim Sick Pay? – Here’s What You Need to Know Being ill is never fun, and worrying about making ends meet, or having enou… Read More
2022-10-31 10:24
Welcome to our round-up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you! Business… Read More
2022-10-26 14:59
Welcome to our round-up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you! Creating… Read More
2022-10-26 14:59
Welcome to our round-up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you! Creating… Read More
2022-10-18 13:23
Welcome to our round-up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you! A fiscal… Read More
2022-10-05 17:28
Buy-to-let properties are becoming increasingly popular, especially as the impact of COVID remains, and UK tourism is looking at Staycations and domestic short breaks. But for property owner… Read More
2022-10-05 17:28
Buy-to-let properties are becoming increasingly popular, especially as the impact of COVID remains, and UK tourism is looking at Staycations and domestic short breaks. But for property owner… Read More
2022-10-04 17:28
Your business might have a lot of different moving parts and keeping track of them all isn’t easy. When it comes to your assets, long-life assets (which may be considered for Capital A… Read More
2022-10-04 17:28
Your business might have a lot of different moving parts and keeping track of them all isn’t easy. When it comes to your assets, long-life assets (which may be considered for Capital A… Read More
2022-10-03 09:06
As we’re rapidly approaching the beginning of a new tax year, it’s a great opportunity for Self Employed businesses to check their books and record keeping and take stock of how… Read More
2022-10-03 09:06
As we’re rapidly approaching the beginning of a new tax year, it’s a great opportunity for Self Employed businesses to check their books and record keeping and take stock of how… Read More
2022-10-02 17:28
When working out Capital Gains Tax (CGT), an important factor to consider is determining if a disposal has been made for CGT purposes. A couple of the most common types of disposal that you… Read More
2022-10-02 17:28
When working out Capital Gains Tax (CGT), an important factor to consider is determining if a disposal has been made for CGT purposes. A couple of the most common types of disposal that you… Read More
2022-10-01 10:05
With utility bills rocketing up in costs, now’s a great time to look to your Corporate Social Responsibility (CSR) and consider ‘Going Green’ with energy-saving materials… Read More
2022-10-01 10:05
With utility bills rocketing up in costs, now’s a great time to look to your Corporate Social Responsibility (CSR) and consider ‘Going Green’ with energy-saving materials… Read More
2022-09-29 17:21
Updating your systems and getting your payroll ready for the new tax year is vitally important to keep your business running smoothly, and to meet obligations under Real-Time Information (RT… Read More
2022-09-29 17:21
Updating your systems and getting your payroll ready for the new tax year is vitally important to keep your business running smoothly, and to meet obligations under Real-Time Information (RT… Read More
2022-09-28 17:22
As we approach the beginning of a new tax year, it’s important to give some consideration to the timing of capital expenditures and making the most of the reliefs you’re eligible… Read More
2022-09-28 17:22
As we approach the beginning of a new tax year, it’s important to give some consideration to the timing of capital expenditures and making the most of the reliefs you’re eligible… Read More
2022-09-27 09:07
With the growing popularity of home and room rental through services such as AirBnB and a number of landlords going a step further to create their own private rental businesses, it’s i… Read More
2022-09-27 09:07
With the growing popularity of home and room rental through services such as AirBnB and a number of landlords going a step further to create their own private rental businesses, it’s i… Read More
2022-09-25 17:42
For married couples and civil partners, Marriage Allowance is an option that allows an individual to transfer 10% of their personal allowance (rounded up to the closest £10) to their p… Read More
2022-09-25 17:42
For married couples and civil partners, Marriage Allowance is an option that allows an individual to transfer 10% of their personal allowance (rounded up to the closest £10) to their p… Read More
2022-09-24 11:05
With all the different taxes, legal obligations, reliefs, and other technical tax issues, it’s unsurprising to find there’s a lot of paperwork involved, and a huge number of form… Read More
2022-09-23 09:02
Limited Companies are separate legal entities from the individuals who set them up – and there’s a lot of paperwork, legalities, and taxes involved in operating them smoothly!… Read More
2022-09-22 17:06
Selling property can be a stressful event, made even more so by tax obligations and evaluations. The term at ‘arm’s length’ is used to describe a property transaction that… Read More
2022-09-21 17:14
Did you know that you don’t have to meet the VAT Threshold (£85,000 per annum) to register? You can choose to register for VAT even if you’re not earning that amount &ndash&hell…Read More
2022-09-20 10:48
Working out your accounting calendar takes a bit of doing, especially if you’re looking to make the most of reliefs, benefits, and allowable expenses. The Annual Investment Allowance (… Read More
2022-09-20 05:14
When setting up your business, it’s important to consider how much it will impact your personal affairs.
Sole traders have unlimited liability for debts the business incurs, and the… Read More
2022-09-18 09:47
If your business is earning close to £85,000 a year, you’re approaching the VAT threshold, and will need to keep a careful eye on your income in order to register when appropriat… Read More
2022-09-17 09:49
05
Selling property can be a stressful event, made even more so by tax obligations and evaluations. Theterm at ‘arm’s length’ is used to describe a property transaction… Read More
2022-09-16 11:45
When you’re working on your business, you might find that Research and Development (R&D) can be a costly undertaking – but if you meet certain criteria, and your R&D isn… Read More
2022-09-15 09:44
Sometimes you might have contact with the Tax Office (HMRC) and not agree with what they’re telling you; or you provide them with information – and you don’t believe they&r&hell…Read More
2022-09-14 17:06
It’s not going to be long before the HMRC program of Making Tax Digital (MTD) starts to impact self employed businesses and landlords. On 6 April 2023, these groups (who have income of… Read More
2022-09-13 09:43
Setting up as a Sole Trader in the UK means informing the tax office, registering for Self-Assessment, and getting your accounts in order in readiness for the end of the tax year. As a sole… Read More
2022-09-12 10:54
Legally reducing your tax bill, and only paying what you actually owe should be a serious goal for every business – and when you own certain things that are used for your business, you… Read More
2022-09-11 09:50
Running a business of any size isn’t easy, and there are times when you might find yourself getting behind with various tasks – especially more complicated ones, such as keeping… Read More
2022-09-10 10:33
Trying to work out your tax bill can be frustrating, especially if you’ve got income coming in from a lot of different sources – and if you’re tax code is split between dif… Read More
2022-09-09 06:32
With the bills increasing, and prices going up across the board, it’s becoming more important than ever to save money where you can. Understanding your finances, your tax obligations… Read More
2022-09-08 10:29
There are plenty of different ways to manage your finances and look at reducing your tax bill. If you’re a PAYE employee and have more than one job – make sure to check your tax… Read More
2022-09-07 10:28
The COVID-19 pandemic saw a huge change on the way people could and did work, and many businesses felt the pinch. To help those who suffered losses as a result of the pandemic, the governmen… Read More
2022-09-06 23:27
We’re into the new 2022/23 tax year now, and as paperwork goes in and out, Q1 payments approach due, and everything gets a bit busy, it’s a good time to step back and check your… Read More
2022-09-05 18:12
As we enter the new tax year, now is the perfect time for self-employed businesses head start on their 2021-2022 tax return. The more time you give yourself to do your books, the more accura… Read More
2022-09-04 10:41
As your business grows and develops, you’re likely to find your accounting becoming more complicated, and the number of taxes and legal obligations you’re required to deal with g… Read More
2022-09-03 10:38
Running a Limited Company (Ltd) in the UK can be a lot of work, there’s a lot of paperwork, legislation, and registration needs that need to be attended to, not just when you get start… Read More
2022-09-02 06:14
Making Tax Digital (MTD) is a government policy that requires UK businesses to record and submit their tax data digitally. MTD started from 1 April 2019, requiring all VAT registered busines… Read More
2022-09-01 10:36
The form ‘P45’ is titled ‘Details of Employee Leaving Work’ and is given to an employee when they leave a job. There are multiple parts to the form (Part 1, 1a, 2, an… Read More
2022-08-31 09:34
Unexpected contact from HMRC generally doesn’t bring good news, and if you’re being informed that your business is going to have a Tax Compliance Check, this can bring about a lo… Read More
2022-08-30 09:11
The new tax year is upon us, so now is the best time to think about how you can save on your tax bill for the upcoming year. Let’s see how you can lower your tax bill for income genera… Read More
2022-08-29 11:01
Working with family can be a great way of legally reducing your tax bill, but it’s important to make sure that any members of your family that you’re employing are actually capab… Read More
2022-08-28 06:56
VAT (Value Added Tax) can be a complicated topic, and for people earning over £85,000 (the VAT threshold), there’s no avoiding it. But did you know that it can actually be benefi… Read More
2022-08-27 09:59
There are so many moving parts that need attending in order to keep a business running smoothly, and having a calendar with due dates, deadlines, and important information can save you a lot… Read More
2022-08-26 09:04
A Director’s Loan Account is basically a record of transactions (Director’s Loans) between the individual Director and the Company, outside of normal salary of dividends.
If a… Read More
2022-08-25 11:57
7 Simple Steps to Succeed with Self-Assessment
To get your Self-Assessment done right, and on time, you need to:
Make sure you’re registered and have a Unique Taxpayers Reference… Read More
2022-08-24 09:11
How and When Should You Report and Pay Your Capital Gains Tax?
Capital Gains is a tax which applies when assets which have been sold (or disposed of) have increased in value – you a… Read More
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