Did you know tax reliefs may be available to you if you experience losses in a given year in your business as a self employed individual or a limited company owner? Furthermore, any losses you make can be offset against total profits of the current or previous year's sales and can even be carried forward [...]
Below is a real life case study of one of our client's, John, and is typical of the relationships we have with our clients and our client service excellence. Our approach with all our clients is the same. We listen, discuss and truly get to know you and your business, bringing our creativity and energy [...]
When a person first becomes self-employed, the first tax bill can have an extra sting in it if they are required to make “payments on account”. There is a lot of confusion about what these represent, and when they are due for payment, so we hope to make them a little clearer in this blog [...]
The deadline for the introduction of VAT filing changes is now just weeks away. For VAT returns periods starting on or after 1 April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) will be required to start keeping their records digitally (for VAT purposes only) and provide their VAT [...]
Flexible working, including working from home, is becoming increasingly common in the workplace, as we are starting to see larger corporate organisations rolling out their formal flexible working policies. There are, however, many employees who work from home and incur costs but do not proactively receive reimbursement from their employer and are not aware of the [...]
As you may already be aware, HMRC has issued plans to make businesses file quarterly information with them. How individuals and businesses interact with HMRC is therefore changing. Keeping your financial records will become increasingly digital and most businesses will need to use software or apps to keep business records – the days of manual [...]
Are you a growing start-up and wondering if it's time to take the next step to set your thriving business up as a limited company, whilst being as tax efficient as possible? There are many reasons why you may decide to set up as a limited company. If you are planning on growing your company or [...]
Are you a newly formed start-up and starting to trade? If so, you are likely to be turning your thoughts on how to take out funds in the most tax efficient way, and perhaps wondering if you need to file a tax return. A tax return includes an overview of your full financial affairs, so [...]
Claiming tax deductible expense, we know, is a minefield. We all aware of recent publicity around MPs being embroiled in controversial expenses claims, and this has prompted many small and medium sized businesses to consider what can – or cannot – be claimed. A considerable amount of legislation exists around defining tax deductible expenses, and [...]
If you're running a small business, one of the concepts in accounting you're going to want to wrap your head around as early as possible is your business' liquidity, and cash basis accounting could be one opportunity to keep the cash flowing as your business' grows. Traditionally, cash basis accounting was used by small, unincorporated businesses for working out taxable [...]