Sole trader

Final days to get ready for VAT filing changes on 1 April 2019

By |2019-05-20T21:05:57+00:00March 12th, 2019|Business planning, MTD, Personal tax, Sole trader, Start-ups, Tax, VAT|

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 [...]

Can you benefit from Tax Relief when working from home?

By |2019-05-20T21:06:55+00:00February 4th, 2019|Business planning, Personal tax, Sole trader, Start-ups, Tax, 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 [...]

Digital Tax is Coming – Be Prepared for the Change!

By |2019-06-06T13:23:09+00:00January 22nd, 2019|Business planning, Personal tax, Sole trader, Start-ups, Tax, VAT|

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 [...]

Tax: which expenses are you allowed to deduct?

By |2019-04-25T15:28:17+00:00September 6th, 2017|Business planning, Sole trader, Start-ups, Tax|

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 [...]

Here’s why Cash is King

By |2019-07-26T06:53:30+00:00August 14th, 2017|Business planning, Sole trader, Start-ups, Tax|

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 [...]