What impact might Brexit have on UK taxation?
While it’s important to point out that nothing is certain at this stage, we take a look at how small business taxes might change as Britain negotiates its exit from the European Union.
It's the #weekend! Time to reflect on the past weeks events and the #Brexit: https://t.co/ydCcRlNOq8 https://t.co/qjlfJuXR44 (9h ago)
@jazze_aquarius Don't worry that's not what we want. We help a lot of small businesses develop their business ideas all the time. Good luck! (17h ago)
While it’s important to point out that nothing is certain at this stage, we take a look at how small business taxes might change as Britain negotiates its exit from the European Union.
New month means new Client of the Month! Meet @yinkailori_ an inspiring designer: https://t.co/lllGQgbnKz https://t.co/jshkDLpann (17h ago)
Good morning! Time to wake up, it's almost the weekend. What's your business plan? #time #to #rock! https://t.co/A7TQvLSxU9 (20h ago)
Not all of our cilents are as inspired as our latest Client of the Month. He has dedicated his business to recycle and style discarded furniture, and get's his inspiration from almost anywhere. Meet our Client of the Month for July - Yinka Ilori.
Does your business need more than accounting? Here's how we can make your business grow: https://t.co/YYy0uhj7H1 https://t.co/I8EFqugHeY (1d ago)
We love that fire! @Latianna24 Keep it up and you will get where you want to be #hard #work #pays #off (1d ago)
How should a small business owner go about giving employees shares in the business? What share schemes are available and do they offer any tax breaks?
@mbals_enhle We love a good business plan, well done! #entrepreneurs #inspirational #progress (1d ago)
Well done! @charityannlewis You are a champion! (1d ago)
At Accounts and Legal we go above and beyond the call of (accounting) duty - here's how.
@lucytrew Good luck, we know you can do it! (1d ago)
@ThereGoSeaan Now is always a great time to start something awesome! If you want, here is what we'd include: https://t.co/g7UGVIiRC7 (1d ago)
@chefette1 That looks delicious! Will it be available in #London? (1d ago)
@AsianDescent What can we be expecting? #exited! (1d ago)
Following George Osborne’s decision to introduce a new 7.5% rate of dividend tax we consider whether dividends are still a tax-efficient option for small business owners.
@jazze_aquarius What's your business about? #We #love #entrepreneurs (1d ago)
Here's another way to #reward your #employees without spending cash! #SME #business https://t.co/uecgUslWoE https://t.co/qQ459mE7GB (1d ago)
As the UK continues to mark the Queen's 90th birthday, and the 64th year of her reign, we ask how the world of accounting has changed since 1926.
We aren't quite ready to say bye, here's our client of the month @WestStowPods a final time: https://t.co/742vk8RMNQ https://t.co/gFgb20TtPL (2d ago)
Small business owners! These cuts in #corporation #tax can save you #money: https://t.co/jBE0RUtNK0 https://t.co/Jg8iNM3qrp (2d ago)
Accounts and Legal are not like your usual accountants, we can also help you raise finance for your business, help you with business growth, market research and digital marketing. In this article we introduce to your our recently appointed business consultant Louis Lines, and how the team can help your business.
Want to start your own #business? Here's what you could put in your business #plan: https://t.co/ydCcRlNOq8 https://t.co/C5kFyCMmsT (2d ago)
Upset about the #Brexit? Need a fresh start? Here's how you write a #business #plan: https://t.co/g7UGVIiRC7 #SME https://t.co/JY2gp5WxkS (2d ago)
The singer Adele has been lumped with a rather large tax bill after miscalculating her dividend payments.
Want to #reward your employees but need another option than #cash? Here's what you could do! https://t.co/nwhMtH24L7 https://t.co/7cr18BR4Ed (3d ago)
Morning! Did you have breakfast yet? Don't forget to, some say it's the most important meal of the day! https://t.co/9LHzjtis1V (3d ago)
Every business owner has an obligation to ensure they pay the correct amount of tax to HM Revenue & Customs, but that doesn’t mean they should ignore legitimate tax breaks or fail to account for deductible business expenses.
Want to #reward staff with more #pay? Here's how you do it without a pay-rise: https://t.co/ljuLB2vonq https://t.co/dd84FqfQLK (3d ago)
@CAPCityDental We were hoping for some summery feelings, but the rain seems to have found us again! What shall we do? #nothappy (3d ago)
HMRC has issued you with a tax refund - should you blow it all on a lavish holiday or reinvest it in your small business? Decisions, decisions...
News via @iamstartacus: The true costs of a high staff turnover: #SME #News #Staff #Cost https://t.co/sxQ7gUBBbd https://t.co/EBuRGAJZH1 (3d ago)
Here at A+L we don't just do the #accounting for our #SME clients, we do so much more! https://t.co/F6ydIQL8Ww https://t.co/GPCTqzvwBj (4d ago)
Tax surrounding food can be tricky, and some of our most beloved brands have taken on the battle against HMRC. Here are three cases that have given HMRC raised eye brows:
Want to give your #employees a piece of the #company,but have no #cash? Give them #shares: https://t.co/nwhMtH24L7 https://t.co/HZdVeSeUcP (4d ago)
Monday morning.... Have you woken up yet? We've still got a way to go #Mondaymorningmadness https://t.co/6yUHXEtwzl (5d ago)
Annual filings have taken a new shape and name; abridged accounts. For estate agents, this might mean than more information is available to collect on competitors from companies house. So what will this change actually mean?
Have you been #summoned by #HMRC? Here's what you could do: https://t.co/sxTB9abBZn https://t.co/mxc555byKI (6d ago)
Starting a #new #job on Monday, want to be #paid in #dividends? Here are our thoughts: https://t.co/TaeQmNJVQc https://t.co/vTHxOpeMit (7d ago)
All companies are required to file a tax return every year to HMRC, in order to figure out how much corporation tax is owed. What is a corporation tax return, when do you need to file it, and what information should be in it?
Weekend! Here are 6 tax deductions you can do to save your company £1000 per year. You are welcome! (7d ago)
Hi @_ellielyne, did anyone help you? Here's our short guide on writing a business plan: https://t.co/g7UGVIiRC7 Good luck! (7d ago)
HMRC is now in battle with several large corporations regarding big tax bills of their own, taking the stage into court. HMRC has set aside billions of pounds to deal with legal cases, and although many battles are with the big firms, there's a lot for small businesses to learn here.
Hi @_ImSooLOST we can help you find your way: https://t.co/g7UGVIiRC7 Let us know if you need more guidance! (7d ago)
Hi @farisasnin, what help do need? Here's a little advice from us: https://t.co/g7UGVIiRC7 get in touch if you need more advice =) (7d ago)
With corporation tax set to fall to a record low of 17% by 2020, is now a good time to set up a limited company?
Hi @dontDodge_KIA, what help do you need? Here's a short guide to get you started: https://t.co/g7UGVIiRC7 best of luck to you! (7d ago)
Hiya @K1lldamessenger! Here is a little something to help you get over that bump in the road: https://t.co/g7UGVIiRC7 (7d ago)
Finding out that you are getting a tax return from HMRC? Well, unfortunately it does not always mean good news. Here's what you need to know about how it affects your business:
@Ken_2_Spoiled we love doing business plans! Here's our short guide: https://t.co/g7UGVIiRC7 Best of luck! (7d ago)
Hi @SummerLove759_ Perhaps this short guide from us can help? https://t.co/g7UGVIiRC7 Good luck! (7d ago)
Celebrating #bringyourdogtoworkday with this fun pair (well at least their photo), happy #Friday! https://t.co/d9ZGOZAR1q (8d ago)
#Donald #Trump has still not provided his #tax #returns, does he have something to hide? https://t.co/krMBI8wyH6 https://t.co/wFjMibCJ54 (8d ago)
What can a small business do to reduce the risk of an HMRC tax investigation, and how can the business prepare in case the tax inspectors do come a-calling?
Hey #small #business #owners! With these clever #tax #tips you can #save a lot of #money: https://t.co/fMQ0OGpuw0 https://t.co/NSx0gcNQ47 (8d ago)
Do you #trade outside the #UK? Here's what you need to know about #double #taxation: https://t.co/y08gLLJEB7 https://t.co/iVJZjHAWeB (8d ago)
How you dress says a lot about who you are, especially at work. Should your London accountant wear a suit, or perhaps a polo shirt?
Thank you, that looks amazing! We are so happy for you =) @WestStowPods please send some of that to London! (8d ago)
@WestStowPods is it raining in Suffolk? #rain #rain #go #away https://t.co/EHbZHSoaxo (8d ago)
We know that keeping track of all tax rules can be hard, especially as we live in an increasingly global economy. Don't fear, that's why we're here. Your business could be hit by double taxation, make sure you are prepared.
Want to get #ahead of the #competition ? Here's how... https://t.co/oCSJF30Zop #Estateagents #accounts #SME https://t.co/5ftDAJffIl (9d ago)
Don't forget to vote in the #referendum toady! Not decided? Here's our thoughts: https://t.co/q6ySQeMyWW https://t.co/FzbLG7mkoB (9d ago)
Not everything is as certain in life as taxes. What is a tax band and how much will you need to pay? Find out in our latest article.
Morning! Planning your #business #expenses for tomorrow? Here are the #perks you can't put on your business: https://t.co/ZRiMoaLwQD (9d ago)
#Travellers! Here's how you #save #money to buy a #trip to the #Caribbean, we love it! https://t.co/bYP472n4sq https://t.co/fEYF8YNJ6w (9d ago)
What is the VAT Flat Rate Scheme, how does it differ from the standard rate scheme, and how can it help to simplify VAT reporting for small businesses?
Do you get paid in #dividends? Is that the best option? #SME #salary https://t.co/TaeQmNskrC https://t.co/SfZTOCCQw2 (9d ago)
The #EUreferendum is now merely a day away. #Sadiq #Khan, #London's new mayor and pro- Bremain, is also pro SME's: https://t.co/aLkn4p6fyT (10d ago)
No one can have missed that Donald Trump is running for president of the United States. As he is the only president who has refused to reveal his tax returns, we wonder why?
We've taken a look back at the #Queens time in reign, and how the #accounting has changed: https://t.co/IOGZ5vxbxc https://t.co/ZVSdnoMZg0 (10d ago)
#News via @justcontracting: How #contractors can save #money when buying a #company #car: https://t.co/PNmg8BxrFg https://t.co/fZLA6ioWpB (10d ago)
These two women turned an every day problem into a thriving business, regularly featured in magazines such as Vogue. Meet Alice and Fleurette, a couple of entrepreneurs that met at University and have been working together since.
Some say that scrapping the VAT on fuel would benefit businesses. But is it really that easy?
Lionel Messi's trial for tax evasion has kicked off in Spain this week, with Messi's father also accused of tax evasion.
More exciting news! Read all about what has happened in our team over the last few weeks, a lot has been going on. Can you keep up?
What exactly goes into a business plan, what are they used for and does every business need one?
UK unemployment has fallen to a 10-year low, but is it employers or sole traders driving the growth in the labour market?
What is a dividend waiver, how is it used...and when should it not be used?
London may seem pricey and overcrowded to set up your own enterprise, but there are still plenty of opportunities for small businesses.
As a new term has just begun for the MP's, and according to tradition the Queen opened the parliament by reading out the list of government plans for the coming parliamentary year. Here's a round- up of what it means for small businesses.
From 30th June the annual return will be replaced by the confirmation statement. But what's changing?
This month we travelled into the magnificent woods of Bury St Edmunds to visit our client West Stow Pods, the glamping experts. Here's what we learnt about their business.
Moonlighting is no longer a dirty word. Here's how digital technologies are encouraging more people than ever to moonlight.
Industry regulator the Competition and Markets Authority is looking to improve competition and access to banking and this week released early recommendations before a full report is unveiled in August.
The deadline for filing your self-assessment tax return may still be months away, but here are 5 reasons you should consider filing early.
Are company cars a bad idea for small businesses? If so, what's the best alternative?
The City of London newly got appointed a new mayor. What will this mean for small businesses? What do we really know about him? We have rounded up some of his views on SMEs here.
Ever wondered what statutory accounts are, and why you need to file them? What should even be in the accounts? Here's what you need to know.
What is VAT and how do you register for it? Don't worry, we will tell you all you need to know.
If your small business employees staff you will need to give them P60s by 31st May. Here's why.
Becoming a boss is an exciting time, but will also come with some responsibilities to the HMRC. Here's what you need to know about how to register for payroll, and why you need to.
With a number of new financial reporting standards introduced this year, what does FRS 105 mean for small businesses?
Most celebrities are famous for a talent or special skill, but some are also known for being naughty with their taxes. Here are five celebrities in trouble with the taxman.
Cost cuts have been made in the most recent budget by George Osborne, benefiting small businesses in the UK. But make sure you are aware of these stealth taxes.
Hiring new staff is and should be an exciting moment for any company. Just make sure you are paying them the correct salary. New rules have been enforced this year that you need to take into consideration.
For many many years, men have received more in salary than women, even for doing the same job. Thankfully though, this gap keeps getting smaller, and entrepreneurs might have the key to the gender parenting pay gap.
This is the story of how our Client of the Month for May, Krystel Parts and her husband, came to the UK from Estonia in 2010 with almost nothing. Their inspiring story is about how they turned a passion for coffee into a business; Mouse Tail Coffee Stories.
One of the perks of having your own business is being able to make expense claims. But don't be caught out on expenses you can't claim. Be sure to check our list before you do:
What is auto-enrolment and how will it affect your small business? We have got the answers for you here:
Abbreviated accounts will soon be a thing of the past - is your small business ready for abridged accounts?
96% of British SMEs that export are exporting to other EU countries, but the question is: how straightforward is VAT across EU borders?
Whether starting up or scaling up, there are a number of mandatory (and time sensitive) reporting obligations that all small businesses need to be aware of.
Good bookkeeping can directly benefit a company's bottom line...here's how.
From sandwiches to your home office, we reveal the ten top tax deductions for the owners of limited companies.
What happens if a small business is unable to pay HM Revenue & Customs the money it owes?
Getting a mortgage is hard enough even if you aren't a self- employed contractor. Here's a few tips of how you secure a loan.
Great news this week! Accounts and Legal are expanding, we are now offering our services in Brighton in addition to London. Come by and say hello!
If your small business is growing, but isn't quite ready to take hire its first employee, here are four low-cost alternatives to adding a permanent staff member to your team.
The government's new Apprenticeship Levy is designed to create 3 million new apprenticeships by 2020, but some business leaders are not happy about this new 'payroll tax'.
IT and construction workers often operate through umbrella or personal service companies, but changes introduced in the new tax year threaten the appeal of contracting through an intermediary.
From April 2017 public sector bodies such as local councils or government bodies will need to check that the individuals they employ through umbrella or personal service companies pay the right tax.
As digital technology marches ever onward, have bookkeepers been superseded by technology?
Would scrapping Employer’s National Insurance Contributions represent a bigger boon for small businesses than lower corporation tax?
A lot of people have chosen to be self employed because of greater work life flexibility and the possibility for a quicker salary increase. But, is this trend changing?
New rules introduced in this tax year change the way tax on dividend is charged and could make it more expensive to trade as a limited company. How will it affect your business?
With the UK’s move towards tax devolution allowing Northern Ireland to mirror the 12.5% corporation tax rate in the Republic of Ireland, is the UK at risk of being branded a tax haven?
If a small business owner decides to outsource their day-to-day bookkeeping to an external bookkeeper, what qualifications will that professional need to have?
Learn how Antonio Pisanelli is bringing the vegan lifestyle to the cosmetics sector with Stvdio5, our Client of the Month for April.
How does bookkeeping differ from accounting, and do small businesses need to hire a professional for both?
Tomorrow is April fool's day and everyone is allowed to make a bad joke. So in the spirit of things, here is our contribution of accounting jokes and pranks. Enjoy!
Five things small business owners (probably) didn’t know about their small business’s statutory accounts.
There are hundreds of add-ons that integrate with Xero, but these are our top five recommendations for small businesses, contractors and freelancers in the UK.
Chancellor George Osborne has given the sharing economy a boost with a new tax allowance that could encourage more people to set up micro-businesses.
Are there any free alternatives to the premium cloud accounting platforms?
Small businesses in the UK have a growing range of cloud accounting software to choose from. We take a look at three of the best.
Another week has flown by here at A&L HQ and Easter is just around the corner. We hope you enjoy these fun facts about this eggstraordinary holiday.
Increasing numbers of people are going solo when setting up a small business, turning us into a nation of solopreneurs.
The small business financing marketplace is not quite a minefield, but it can certainly feel like a labyrinth, particularly if you don’t have a guide and you don’t own a map.
What is working capital, and why should small business owners understand how to manage it?
Small businesses across the UK have become increasingly worried about their business prospects in recent months, according to a new report from the Federation of Small Businesses.
Budget 2016 wasn't all bad news for small businesses - here are five ways the Budget may make it easier for some British SMEs.
So the Chancellor has finally embraced the the fact that small businesses are the lifeblood of the UK economy and this budget was squarely aimed at improving the lot of the UKs small businesses.
Accounts and Legal took the train to Paris together this weekend to experience the essence of French culture, business and modern day delights.
The Chancellor may be planning a few nasty surprises for the public (and small businesses) in this week’s Budget announcement.
New rules have liberated as many as 7,500 British small businesses from the financial and administrative burden of annual statutory accounts.
The Bank of England has announced emergency liquidity measures in an effort to prevent the EU referendum triggering another credit crunch.
With 57% of British SMEs admitting they don’t offer training and development for their staff, we consider a range of no cost or low cost management training courses.
Read how Anton Taratine and Samuel Reed turned up the heat on London's coffee scene when they launched Stir Coffee, our Client of the Month for March.
With one in thirty UK businesses failing victim to invoice fraud, how purchase orders help small businesses avoid being duped?
With the EU referendum looming, EU immigration is a hot topic amongst the electorate. But what’s best for middle England is not necessarily best for London’s business community.
More than one million sole traders in the UK have had their applications for business financing rejected by high street lenders, but many are unaware of alternative financing options.
As a global talent shortage looms, we offer four ways small business owners can compete with corporate headhunters and retain their very best talent.
A new report from the Enterprise Research Centre has confirmed that the number of High Growth Firms across the UK has risen to its highest level since the dotcom boom in the early 2000s.
Blogging has become a multi-million pound business, but how can you make money from your own blog?
One of our newest client groups are a relatively new business phenomenon, the so-called Amazon traders.
If you’re a student and you’re considering joining the UK’s growing army of self-employed freelancers, here’s what you could be doing and how.
This collection of free tools could be just the ticket to help transform you into a truly fantastic freelancer.
Did Zoopla invest in four British tech startups in order to put more pressure on OnTheMarket?
HSBC, one of the world’s largest banks, has confirmed it will keep its global headquarters in London.
Valentine’s Day is round the corner so it’s time to stock up on your partner’s favourite chocolates and flowers. Sometimes a card is enough to say those three magic words, ‘I love you’, especially for married couples but if that just won't cut it and you're struggling to think of something orginal then you could turn to HMRC.
What if you could be sent to prison for defaulting on your debts?
Orbit Brewing, a craft beer business based in South East London, is our Client of the Month for February. Read how this successful startup got its start.
The advent of smartphones during the last 10 years has led to a wide range of new technologies, many of which have become as integral to our lives, and to our businesses, as our smartphones. Which of these technologies would you struggle to live without?
With academics, forecasters and futurists at loggerheads over whether or not the UK is in a housing bubble and what’s likely to happen to the British property market in the year ahead, Accounts and Legal decided to take the question to the experts.
Record numbers are becoming self-employed, the latest data from the Office for National Statistics has revealed. We reveal the pros and cons of life as a sole trader.
Chancellor George Osborne and HMRC have been criticised after letting Google get away with paying a settlement to cover £130million of tax dating back to 2005.
Will George Osborne's new bank tax hurt smaller banks, and by extension small businesses?
It was revealed after the Spending Review that the Business Growth Service, which includes the GrowthAccelerator programme and the Manufacturing Advisory Service, would be wound down. The question is: why?
2015 marked another record year for small businesses in the UK, with increasing numbers of company incorporations and fewer insolvencies.
MPs are set to debate controversial proposals that could see small businesses and the self-employed moved to quarterly tax reporting by 2020.
Which rate of Value Added Tax would a small business pay on Companies House charges?
The festive season is over, the New Year fireworks have long since faded, so now it’s time for small business directors and sole traders to turn to the serious January business of the dreaded self-assessment tax return.
Hey! Holla, a fitness business based in East London, is our Client of the Month for January. Read how this successful startup got its start.
January sales seem to start earlier each year with reductions now often starting in the pre-Christmas period, but is discounting good for small businesses?
As a cost effective, flexible and scalable source of web traffic, AdWords has become a favoured advertising service for startups and small businesses. But are businesses in the UK required to pay VAT on their AdWords spend?
From following your dreams to making more money, there are plenty of reasons to start a small business. But is it better to pursue a business idea for passion or for profit?
Small business founders and sole traders looking to grow a successful business have access to far fewer government grants than entrepreneurs launching a new business, research has revealed.
Foxtons joined the FTSE 250 in December 2013, just two months after its initial public offering, with the company hailed as a ‘stunning’ success story as its share price soared on the back of a sharp rise in London house prices. However, exactly two years later the company’s fortunes seem to have taken a bit of a turn for the worse.
What is the EFG, how can it help businesses secure small business loans, and is it right for your company?
As you begin to prepare your home for the Christmas season, we offer a few tips to help make your home even more Homely This Christmas.
We're looking for a Senior Accountant with excellent interpersonal and technical skills. Find out more.
What are the the Enterprise Investment Scheme and Seed Enterprise Investment Scheme, and why are they good for small businesses?
Our Client of the Month for December is Moreno Boxing. Find out how how the company's founder, Carlos Moreno, turned his passion for boxing into a thriving business.
In a small business’s early days the business owners may loan money to the company when other sources of funding are hard to come by, but as the company grows they may want to temporarily take money out of the business through a Director's Loan.
The launch of a new business is an exciting time for everyone involved, but at the risk of raining on your startup’s parade it is important to point out that with every great endeavour comes new responsibilities. All actively trading companies have an obligation to file annual accounts with Companies House and an annual tax return with HM Revenue and Customs, and your new startup is no exception.
A bank loan or overdraft may be the traditional route to finance for a small business. But banks can be unpredictable and reduce your overdraft at short notice or impose steep interest charges or penalties for missed payments. There is another option to help release cash flow and working capital with invoice factoring.
As accountants naturally we will tell you to think more and spend less. We also believe that we as a nation should be supporting small businesses who are our friends, our neighbours and our relatives. So let’s ignore the festive high street circus for a just moment and turn our attention to some Small Business Heroes who can provide you with something unique this Christmas…
While the UK has better business survival rates than many other countries, more than 50% of British businesses are shut down within their first five years of trading. Some start-ups fail because they have struggled to gain traction or achieve profitability, while others simply because the company no longer meets the needs of the business owners. But whatever the reason, shutting down a limited company can sometimes be a complicated process.
From spending cuts to office closures, there are plenty of Spending Review announcements that can affect the way small businesses operate. Cutting government department budgets may be painted as cost-saving and efficient, but it can also hit vital frontline services. We reveal four changes that could impact your business.
Chancellor George Osborne has set out his spending policies for the coming year, and small businesses and entrepreneurs can breathe a sigh of relief with many popular measures intact.
Many new businesses struggle to raise startup capital until they have proven their business model and gained some traction. When funding is hard to come by capital requirements are often funded by loans from company directors, which are then repaid as the new company begins to generate revenue. Here's how it works...
With a number of similarities to PAYE, the Construction Industry Scheme (CIS) is a mandatory withholding tax from a self-employed construction subcontractor's payments and paid directly to HM Revenue and Customs on their behalf. The deductions serve as advance payments towards the subcontractor’s annual income tax, most subcontractors in fact have no income tax to pay at the end of the year under CIS, a lot are due a refund.
The launch of a new business is an exciting time for every business owner, but it brings with it a number of financial and legal obligations and a wide range of decisions that need to be made. Should you incorporate a limited company or operate as a sole trader? Should you hire a small business accountant or should you learn to manage your company's finances yourself in the early days?
While small business accounting can be intimidating for some business owners, there are a number of short, cost effective accountancy courses entrepreneurs can study themselves to help them get to grips with their company's finances. Is this wise or should you handover to an accountant and focus on growing your business?
Changes in the tax rules mean many landlords will see their profits decrease. So how can they mitigate the impact of the removal of mortgage interest relief?
There has been almost incessant chatter online since the rise in the UK minimum wage was announced in the Chancellor’s July budget. With the first hike having just taken effect this October, we thought we would examine just what it means for London based small businesses.
Broadly, there are three options available to small businesses when thinking about how to set up their small business accounting processes. We explore the three most common methods.
Is it a coincidence that the birth rate is dropping at the same rate that new company formations are growing? Is capitalism compatible with family life? We explore the statistics here.
There are more than 30,000 accountants in England alone, and most of them are in fact pretty small. Find out whether size matters here.
One of the most common problems faced by small business owners is knowing how and when to extract money from their business. And most importantly, how do you record personal withdrawals from your company in the most tax efficient way?
Your exit valuation depends on lots of things, not least the sustainability of the business in your absence; high founder dependency can render your business worthless if you’re not careful. Assuming your business is reasonably self-sufficient, then there are three key factors which determine its value: scale of the operations, levels of profitability and rate of growth.
When entrepreneurs embark on their new business venture, they will typically have a solid idea, a good business plan and a well mapped out path to profitability but most only have the vaguest idea about how they might eventually sell their business; if they have considered it at all...
We quite often get asked to weigh up the merits of a new start up idea. We’ve put together four key tests that help determine whether or not a new venture will succeed.
Small business often run short of cash when customers don't pay as quickly as they should and marketing campaigns take time to work. We examine six solutions to help solve short term cash flow problems.
The number of companies has grown by more than 50% in the past decade, but finding a small business accountant who will help you avoid becoming one the 12% of those companies who dissolve each year is not always easy.
We are looking for an exceptional newly qualified accountant with practice experience to join our growing team. Find out more.
Tax avoidance and evasion have been in the spotlight over the last few months. Accountants, sometimes seen as aiders and abettors to the wealthy elite, are coming under fire. How should they act when mixed signals over how to interpret legislation can leave them without direction?
When business is good and the forecast is even better, what do you do? Accountants normally advise prudence over flashy new offices, but Sage, the UK’s largest desktop accounting software providers, is moving to the Shard. Is this move sage or folly?
Money comes in; money goes out. Managing your cash flow may seem as simple as subtracting your outgoings from your income, but in fact it’s much more complicated. Follow these six steps to keep your cash flow healthy!
In the recent budget, George Osborne promised a crackdown on freelancers, consultants and contractors who set up companies to avoid tax. While the details are yet to be revealed, there are concerns Osborne has got the wrong end of the stick.
Being locked in a room with a corpse may not sound like fun, but it’s great for team bonding. That’s what our Client of the Month, Daniela Streng, discovered while on holiday, and now she’s using this idea to run a successful business in the heart of corporate London.
From October this year, HMRC is set to gain powers to take money directly from your bank account. While HMRC seemed to be amending legislation in line with public concerns, it now appears promised safeguards are not in place.
This is the first Tory budget in almost two decades. Their majority win was in no small part down to convincing the UK they were the small business party. But yesterday’s budget was not good news for small business owners.
You may have heard Greece voted ‘no’ in this weekend’s referendum. You may not have heard that Thom Feeney, who works in a London shoe shop, started an IndieGoGo crowdfunding campaign to raise the cash needed to meet that missed €1.6 billion loan instalment. With just one day to go on the campaign, can you make a difference?
As the UK continues to recover from the recession, and the government makes legislation more favourable to SMEs, more and more professionals are seeking to take charge of their own career and finances, opting to become self-employed.
Online crowdfunding has drastically improved small businesses’ access to finance. We spoke to our delightful clients, Alice and Fleurette, co-founders of Attollo Lingerie, about their Kickstarter campaign to find out why they chose gift crowdfunding in particular, and how to do it.
In May, David Cameron pledged to cut red tape. Again. He has promised this before, but this time he has set a target of saving British businesses £10 billion by the end of this parliament, and the process will be monitored by independent regulators.
We attended the Young Enterprise Company of the Year Awards London Finals. Our very own Jennifer Welford was judging. We were amazed by the professionalism, hard work and creativity of the young entrepreneurs.
Accountants aren’t just bean counters. Their experience and expertise can be useful at any point in the life of your business. So what can they do to help your business grow?
What do successful people do differently? Are they superhuman? There’s no easy path to success. It’s hard work. But if you get disciplined and follow these steps, you’ll be on the right track.
Fifty percent of new businesses go bust in the first five years. The first thing you should do before starting your own company is understand the common pitfalls so you can avoid them.
Small businesses need to scrutinise every cost, but cheapest isn’t always best. Never has this been truer than when hiring an accountant. Cheap small business accountants may represent value for money, or cost you more in the long-run.
It’s baking hot again in the Accounts and Legal office; we’re only just not melting as we celebrate another accountant’s Xero certification, and welcome a talented new recruit to our accounting team! Another two members have disappeared on annual leave, but new business is still coming in.
These days every business needs a blog, and every blog is a business. But how can a blog actually make you money? We spoke to small business hero Sarah Arrow of Sark e-Media about how she went from squinting at her computer on maternity leave, to the Forbes top 100 blogs for women, to running her own digital marketing business.
Some say psychopaths make excellent businessmen. They’re focused, they’re demanding, and they make great eye contact. When you’re running your own business you fill a hundred different roles a day, and it’s easy to lose focus. Whichever role you’re performing, you need to channel your favourite psychopath and keep your eyes on the prize: increasing your turnover.
Londoners get a lot of stick: always in a rush, transport rage, obscure food preferences. Accountants don’t fair too well either: elbow-pad enthusiasts, spreadsheet-addicts, without humour, with halitosis. But what happens when you combine the two? A special breed of accountant, which could be well worth seeking out for your small business.
Accounts and Legal is growing again both in size and ability; and we’ve become expert jugglers.
Maternity leave is a time full of excitement, anticipation and anxiety about the big day, followed by mayhem and madness. It is often during this period that many mothers reconsider their career choices.
If you’re a first-time entrepreneur starting a business in London, you’re entering one of the world’s toughest markets. If you’re going to make it, you need to understand some specific issues surrounding accountants, London, and your business.
If you move income, gains or assets to a non-UK jurisdiction without declaring them in the UK, you are committing offshore evasion. Offshore evasion is illegal and last week the EU signed an agreement with Switzerland to share residents’ financial information. This is a huge step forward in the fight against tax evasion, and just the first of many.
The Queen has spoken and the annual personal tax-free allowance is going to be pegged to the minimum wage rate. Minimum wage is going up to £6.70 this October, and by 2020 it’ll reach £8 with a personal allowance of £12,500. What does this mean for your business?
Solving murders might not fall within the remit of a typical accountant, but at Accounts and Legal, we like to go the extra mile. The last fortnight has been great for business, but we’ve also ventured outside the office for a spot of team bonding and identified the perpetrator of a bloody crime.
All small businesses need good accountants. Businesses in London face the toughest competition, and need the best support. But there are hundreds of accountants vying for your attention; how do you choose the right one for your business?
Entrepreneurs like to have as much control over their businesses as possible, but if things go well, they will need to delegate. If you’re thinking of becoming an employer, it’s important to know your legal and tax obligations. We explain the basics in two short articles.
Your venture is growing and you haven’t had a weekend since you had the idea for the business. Perhaps it’s time to hire some staff, but do you know the legal and financial implications of becoming an employer? We explain your basic obligations in two short articles.
The Tories are staying put. After an overwhelming vote of confidence last week, it’s clear the public want them to ‘finish what they started’, and all evidence suggests small businesses owners should be pleased with the outcome. But what does this really mean for you?
The self-employed get a bit of a rough deal when it comes to getting mortgages, but it is possible if you plan carefully. We spoke to our client Sharmaine Lovegrove from Dialogue Berlin about how she managed it with a bit of help from Accounts and Legal.
The Tories are back in, the sun is out, and we’ve been having fun with our clients. It has been another excellent fortnight at Accounts and Legal, with great progress for existing clients and new clients coming on board. All in all, we’re having an uplifting time!
A family business is a lot of work. Your partner grits their teeth as you question their expenses, and your children become monosyllabic as they help with the lambing before school. But if you make their involvement official, there could be big benefits. How can you use your family to minimise your tax bill?
Tomorrow is our birthday! We’re going into our third year of trading and after another busy fortnight we’re getting ready to celebrate. The accounting industry is going through some big changes, but we’re signing up new clients every day, and have good reason to clink our glasses!
Small businesses need to scrutinise every cost, but cheapest isn’t always best. Never has this been truer than when hiring an accountant. Cheap small business accountants may represent true value for money, or they could cost you more in the long-run.
In the distant past, surplus company money was often used to buy expensive cars with which company owner-directors could have their fun, but tax on company cars soon became prohibitive. Is 2015 your only chance to save tax by buying a Porsche?
70% of 500 businesses with 1-57 employees say they ‘don’t know who to turn to’ for support with auto-enrolment’, and, according to AccountingWeb, ‘A vast number of those are expecting their accountant or payroll bureau to come to the rescue’.
The median income for a published author is £11,000 p/a (2014). Average earnings are about half. But whether you’re JK Rowling, starving in a garret, or somewhere in between, you could be better off if you made friends with the tax system.
These days the location of your accountant might not seem so important. But do accountants in London have that “something extra” needed to give your business an edge?
Businesses across the UK often keep their search for an accountant local, mostly for convenience but also because they can be cheaper than city accountants. But nowadays, when everything can be done remotely, and with more standard pricing, might hiring an accountant in London be better for your business?
How do you go from pensions actuary to brewing beer under railway arches? Apparently through Scotland in a camper van. This week we spoke to our client, Robert Middleton of Orbit Beers, and learned how a complete outsider could break into a thriving industry.
The most common eureka moment for entrepreneurs happens at work. It goes: I could do this myself. Many follow with: the name, the USP, details, details, details. It’s exciting but then comes the launch and the realisation that there are no clients, cash flow is a problem and marketing has just begun. UsVs has shown us a new way.
Accountants will always tell you hiring an accountant will save you money. But small businesses have to watch every penny; you need to know you’re getting the best service possible, and when you’re starting out, it can be hard to know what to look for. What makes good small business accountants?
With just three weeks to go till the election, you need to decide which party will be best for your business. All parties are dressing up as the true small business party, but which one is the real McCoy?
Business investment is down due to pre-election uncertainty, but as small business accountants, we’re not so worried; our yin and yang are in perfect balance. Despite a battery of non-business-related catastrophes, we’ve had a great fortnight with exciting new start-ups keeping our phones ringing, and happy clients singing our praises.
It’s been dubbed the Google tax, it arrived on the 1st April 2015 and it aims to close loopholes exploited by large multinationals. British taxpayers have been calling for this for years, but top London Accountants believe this is a momentous change, which might not even be legal, and could have a broader impact on the rest of us.
Spring is here, the new budget has been delivered, and while there’s still a chill in the air we at Accounts and Legal are basking in the warmth of new business, an upgrade to Xero Gold, and the generous thanks of our existing clients.
Crowdfunding is not new, but new digital platforms have reinvigorated this democratic form of investment. With the banks reluctant to lend, we’ve seen a flurry of new businesses taking advantage. But which crowdfunding model is best: debt or equity?
George Osborne’s 2015 budget surprised us all by announcing the annual tax return will be no more by 2020. But why is this such a big change, and will the new system benefit you?
George Osborne believes Britain’s economy can overtake Germany's by 2030, and cites small businesses as the driving force behind this momentous feat. The new budget for 2015 announced many changes aimed at encouraging new business and small business growth, but will it work, and can we really overtake Germany?
Last week, George Osbourne announced a ‘radical’ review of the much-criticised business rates system. Findings from the review will inform changes to the system from April 2016. Why is a change so important, especially for small businesses?
We're bringing back our Client of the Month series and to kick it all off we're looking at Sushi Surprise, a trendy new takeaway in Shoreditch, London. Each month we'll be talking to one of our most interesting clients and sharing their stories with you.
In 1998, Which? Magazine published an article calling out PPI as a raw deal. More articles were published, the FSA got involved, and in April 2011 courts ruled that claims could be made on PPI polices taken out many years previously. With £9bn paid out to date, its boost to the economy is now hard to deny.
When we hear the stories of successful entrepreneurs, it can sound like they’ve simply gone from strength to strength, but most have learned more from hard times. What can you learn from Lecia Finch, the founder of Hat Attic, about how to get back on your feet?
It might be because of our alternative approach to accounting but as we approach the end of our second year we are gaining new and exciting clients on a daily basis. Want to know more about how we're growing and changing?
April is coming: rain, Cadbury’s Creme Eggs, poorly judged pranks, and… a new, improved personal tax allowance! Your personal allowance is the amount under which you are not liable for any tax, and as of 6th April 2015, it will increase from £10,000 to £10,600. But what does that mean for you?
Tenancy applications are supported by a great deal of documentation, most of which has been produced by an accountant. So we created an accountant's guide to interpreting and verifying the documentation.
As HMRC brace themselves for the onslaught of excuses for filing tax returns later than January 31st the normally no nonsense tax authority have released there top 10 best excuses which are guaranteed to put a smile on your face while you prepare your own return.
We recently carried out a national survey of estate agents that highlighted that nearly half of all agents say that it has become more difficult to grow their business than it was a couple of years ago.
In 2013 Kavalake, the holding company of Gordon Ramsay’s restaurants, turned over a total amount just shy of £45million; £44,801,000 to be precise. However, after the cost of sales, administrative expenses and operating costs were deducted the company overall was left with a pre-tax profit of just £2.7million; or at least it should have been…
Scottish fashion designer Rebecca Sherrington has twice been nominated as Young Designer of the Year at the prestigious Scottish Fashion Awards, has been named among Vice magazines 'Creative 30' (30 of the most creative talents under 30 in the UK) and selected as one of the top ﬁve designers to discover by The Herald. Here’s the story of how one girl made her brand stand out.
We are looking for an enthusiastic PR executive to join the marketing department in our fast growing small business consultancy firm based in the heart of Camden.
Did you know that due to sickness a million each year between September 2010 and October 2013, can you imagine how much that is costing businesses? But all is not lost as measures are being taken to improve the situation.
There is a massive change about to take place for VAT registered businesses who supply cross border EC supplies of digital services to consumers. Make sure you're ready.
On Friday the 21st of November we were lucky enough to be part of The Business Game held at The Kings Academy, Middlesbrough, where the brightest business minds from the Emmanuel Schools Foundation come together to present businesses they have developed and compete for a £1000 prize pot.
HMRC continue to be cracking down on travel and subsistence costs on personal tax returns for the self-employed. Here we have look at two particular example cases and their outcomes.
When looking for an accountant you may come across member of a number of different accounting bodies. Here we explain what the differences are to help you know what to look for.
At Accounts and Legal we are proud of all of our clients but this week we give special mention to Brooks Marshall who appeared in this quarters edition of GQ. Find out about that and what else we've been doing over the past seven days in this week's blog.
Small business owners often ask us where to start when it comes to accounting and tax. We've prepared a handy presentation to show you what you need to do and how it all fits together.
There’s almost never a dull moment in the Accounts and Legal office, from our more colourful clients to our team antics, there’s always a certain something in the air. But this week one thing stopped us in our tracks.
A company that is being closed because it can no longer meet its debts is known as insolvent. The options are creditors' voluntary liquidation or compulsory liquidation.
Entrepreneurs are risk takers, and sometimes things don’t work out as planned. When thinking about shutting down a company, there are three main routes available.
What do soap, maternity leave and taxable benefits have in common? They all featured in the Accounts and Legal schedule at some point last week. It does sound like quite an unusual combo set of items, the first one could just be a start to the day, but where did we go from there? Let us explain…
Greg Chalmers is the charismatic director of both Fabric and Napier Wedding Photography companies. Greg really is the epitome of his brand and this is one of our favourite Entrepreneur Stories. Here's what happened when we caught up with him...
Stephen Brown is the Director of Bug Graphics, one of the coolest graphic design agencies to hail from the west of Scotland, an area famed for it's creativity. As part of our Entrepreneur Stories series we caught up with Stephen to hear his story.
Every week at Accounts and Legal we are asked a whole load of questions about accounting and tax for small businesses and this week has been no exception. So we've decided to use this week’s blog to give you some examples of the queries that we can help you with.
Last week we reported on how we helped one of our clients organise Cyclescheme but if you’re less bikes and more babies then you too can breathe a sigh of tax relief as now we want to tell you about Childcarescheme.
Last year we reported that 44% of estate agents were overpaying on property portals. Rightmove and Zoopla were seemingly taking advantage of their duopolistic position in the market to push through increases in membership prices. This year we surveyed 194 estate agents. Check out what they told us...
Half price at Chanel, Chelsea season ticket giveaways, £75 per month at Accounts and Legal; they all seem a bit too good to be true don’t they? Think again… This week’s blog is dedicated to a very special announcement.
At Accounts and Legal HQ you’ll often hear us talk about flat rate schemes, cash accounting schemes, annual accounting schemes, margin schemes, retail schemes… but this week we’ve been talking about another type of scheme of the Cycle to Work variety.
VAT can be tricky to get your head around at the best of times but when it comes to the world of catering it’s a whole new kettle of fish.
Uproar Comics is the brainchild of extremely talented Northern Irish duo Danny and Kevin who, has you would expect, have the brilliant personality that comes with their heritage. So grab a coffee, sit back and enjoy their story told by Kevin; there's even a video...
Essentially accountants are like doctors but for instead of treating people we treat businesses. If your business’s finances aren’t looking too healthy, who you gonna call? Your accountant of course.
Do you think you might be working with a bad accountant? Here's what you need to look out for...
How important is the essence of your brand in comparison to the existence of your brand? This is exactly the question which is being asked in the fashion industry right now as luxury heritage brand Harris Tweed announce an unlikely partnership with mass producing, budget brand Primark.
So the big news this week is that the Scottish have spoken and the United Kingdom has lived to see another day; for now at least. But what’s been going on elsewhere? We can’t speak for everyone but here’s the latest from our office…
Former model Amy Rewcastle is not just a pretty face she is a very clever lady. Amy is pioneering bringing one of America’s most treasured charities across the pond with the first UK HQ of the Global Girls Club set to be in Scotland with her at the helm. She tell us her story…
VAT can be tricky to understand when you’re a start-up or even if you’ve been in business for a while. We’ve written this article to make it clear and to help you ensure that you have the most effective set up for your small business.
T’is (almost) the season to be jolly but here at Accounts and Legal we’re already feeling pretty cheerful. “Why?” we hear you cry, well…
Ian Le Bruce is a start-up entrepreneur on the brink of something huge! His company, Cappuccino Ads, cleverly uses take-away coffee cups to literally put businesses in the hands of potential clients. Here is what happened when we interviewed him…
In our new series “I am an Entrepreneur”, we interview entrepreneurs from every sector to bring you inspirational business insights. Our first Entrepreneur is the award winning Aleena Lappiatt of Aleena’s boutique in Glasgow. Here is what happened when we interviewed the lady herself…
Guest blogs, Bronze level Xero accreditation, accountancy awards, quizzing and sushi; ‘cause that’s just how we roll (…sorry) It’s been a busy few weeks here at the Accounts and Legal base camp, here’s a roundup of the latest goings on.
Tax used to be a slightly annoying inconvenience. When I opened my monthly payslip, along with my colleagues, I’d tut over the amount of tax I had to pay and then get back to whatever I was doing. But now as a freelancer I have to face my tax demons head on.
Despite it being alleged that it’s the footballing megastar’s father who has control over the family’s finances, judges have confirmed that Lionel Messi will probably still be prosecuted for tax evasion in the Spanish courts.
It’s one of life’s greatest battles, we think we’re paying too much tax yet we all want more from the government. We would all agree that our healthcare is important, our streets must be policed and our children have to be educated, so where exactly would we be happy to see cuts?
Last year debit and credit card transactions accounted for 53% of all dealings. Are we phasing out cash?
A Scotsman, an Englishman and an Irishman are standing in a bar. The Irishman asks, “How do you keep something safe that you can’t touch or see?”. While in the beginning the question sounds like a bad joke the truth is a lot more serious for some business owners, entrepreneurs and inventors.
The importance of branding. As the saying goes it takes years to build a reputation and seconds to destroy it.
The 14th of June 2014 was the day the England fans had been waiting for. It had been four years since “the goal that never was”, it was time for the Lions to redeem themselves but the excitement was short lived and the businesses that were supposed to boom suffered some terrible losses too.
Zoopla, owner of multiple real-estate websites, has floated a percentage of its shares on the London Stock Exchange to raise capital but is this something small businesses can realistically consider to improve their own finances and grow?
It’s all out turf war for the concentrated community of coffee shops in Camden town so is it survival of the fittest for small businesses or can they co-exist?
Although it may be completely unrealistic to make your customer swear marriage vows it is possible to build a lasting relationship where they promise to be loyal if you promise never to deliver less than the original attractive deal.
Closely following our 1st birthday it’s been yet another week of landmarks here at Accounts and Legal as not only did we celebrate reaching 1500 Twitter followers we also received our 1000th request for an instant quote online so what is it that people like about Accounts and Legal?
US fast food workers have demanded a pay rise to twice the minimum wage, in a nationwide strike. Laying aside the question of whether $7.25 – which translates to £4.33 – is an adequate national minimum wage, when the equivalent British figure is £6.50, we ask whether fast food workers deserve to earn twice what other US manual labourers receive.
The top 100 brands in the world were calculated using the year’s financial value generated, multiplied by a brand contribution measure. A brand contribution percentage is assigned based on interviews with 170,000 consumers in 30 countries. Consumers are questioned as to how far each brand fulfils three criteria: different, meaningful and salient. Combined, these factors are taken as an indicator of the contribution of brand loyalty to profits. So ask yourself this: how would your business fair?
It's only been open 5 months but Camden’s "Record Club" has an impressive list of members and though initially reluctant to breach client confidentiality, manager Rafael Marques reels off some star clients but what is it about this membership only club that makes it so appealing?
Put simply Ethonography is the scientific description of people and their customs, habits, and mutual differences. By using ethnography small businesses can benefit from a better understanding of their clients true behaviours.
The Santhelia mission statement is almost as radical as the flagship mascara itself; make up and skincare should enhance what nature endowed you with. With her alternative take on the cosmetics establishment, she offers a powerful lesson to other start-ups, that you can take on industry giants through thinking outside the box.
Lord Young, the prime minister’s adviser on small business and enterprise, observed last year that “if we were as entrepreneurial as the United States we would have nearly a million more firms.”
Adam and his business partner Rex Martin started their small business after Adam’s success customising his own bike, using Rex’s workshop in 2010. After researching customised bikes on the internet, and decided he would be better off doing it himself; and found happened upon the elusive gap in the market.
The first 999 call was made at 19:57 from an outlet behind the Gilgamesh Bar and Restaurant and, according to the London Fire Brigade’s Twitter feed, the blaze was tackled by 21:00 but beyond the headlines the fire, which broke out in the largest of Camden’s world famous markets, has another story to tell.
As the newly appointed Burberry CEO pledges to donate part of his annual salary to charity we ask can acts of generosity bring their own reward?
A policy piloted by Camden’s Labour government in 2012 has been adapted into national Labour’s platform leading into the European elections. The policy dubbed the “Ghost Homes Tax” will be spooking landlords with empty properties as it allows authorities to tax them by an extra 50% of council tax they exact.
It might have taken a judge 147 pages to describe what Gary Barlow and his Take That cohorts did wrong but in the eyes of the law in fact none of the charges were criminal. So what's the difference between tax evasion and tax avoidance?
Over the past few weeks we have been lucky enough to be invited along to two very special Young Enterprise events. Find out what happened and how we were involved.
As our senior accountant makes his to work return after an epic 180 mile walk across England and there’s talk of Gary Barlow being stripped of his OBE following tax avoidance, there is no denying it’s been a less than grey week in the not so humdrum world of accounting!
When your running a business deemed more important than one of your customers significant others you know you're doing a good job.
Take 10 minutes out of your schedule make a cup of tea and read these tips carefully. Consider what changes you could implement to make you and your business more successful and sustainable.
Hurray, we’ve grown again! Yes, this week we would like to welcome Susan Lisle to our team as our new Business Consultant but that's not all we've been up to.
We’ve all seen the ads at the beginning of DVD’s, “You wouldn’t steal a car! You wouldn’t steal a handbag! Would you steal a movie?” They’ve unashamedly dramatised what most of us would call petty crime but why?
If you are looking to set up a company and trade in the UK you will almost certainly need a UK business bank account. However, to open one you must be able to provide proof of a UK address, and this can be tricky for overseas investors and non-UK residents.
It’s official, we are one year old! Since the Accounts and Legal brand launched last year we have helped nearly one hundred small businesses grow and develop their businesses.
Most successful business ventures starts with a ‘what if..?’ about a gap in the market and the dawning realisation that something could be done just that little bit better.
The simple answer to this is yes; there are no restrictions on a non-UK resident owning a UK company, however, there are some things that you need to know.
Business bank accounts are essential for Limited Companies who must keep their business and personal finances separate and are useful but not necessary for sole traders handling a lot of transactions as the separate account will aid bookkeeping obligations. Here we explain how to open a business bank account in the UK.
What an exciting couple of weeks we’ve had at Accounts and Legal! Not only have we been working closely with our charity partners Young Enterprise but we’re preparing for our 1st birthday too!
We’ve been quiet here at A and L HQ for the past couple of weeks but as the saying goes, no news is good news. Our team have been working hard on some big projects to ensure we continue to succeed on our quest to change the face of accountancy for small businesses.
International Women’s Day has been celebrated for over 100 years but still only around 10% of the world’s richest are female. So what’s holding women back? When the 2013 Forbes Billionaires List was published there was a resounding cheer that the number of female billionaires had risen by 25%. But when that takes the tally to a mere 174 (out of over 1500) is it really something to celebrate?
At Accounts and Legal we get asked a lot of questions about accounting costs so we have compiled a list of the most common ones and answered them for you; from finding the cheapest accountant in London to cheap tax advice for small businesses we have got it covered.
Well it’s officially the 1st working day of Spring 2014 and we’re entering the new season with yet another innovative new tool for clients. You might remember our “Client Portal” blog from the beginning of the year well now we've gone one step further...
So the taxman has laid his cards on the table and declared that Bridge, a ruthless team game requiring stamina, concentration and years of practice, is not a sport. As we continue to marvel at the astronomical wage packets and considerable prize pots being paid out to the world’s leading sportsmen, few people realise that aspects of officially recognised sports are actually tax free.
Would you like up to £2000 for your business? Have you heard of the Employment Allowance? In George Osborne’s 2013 budget the announcement of the Employment Allowance was welcomed by businesses up and down the country. But since then it has all gone a bit quiet and we think more than a handful of small business have forgotten it was ever announced...
1966 was the year UK celebrities ran for their lives as the whopping 95% supertax rate was imposed by Harold Wilsons Labour Government. Mick Jagger fled to France and John Lennon legged it to the United States while his Beatles comrades penned a song entitled the Taxman to express their disgust at the sky high charge but even now with the UK’s top tax band being less than half of that the subject of tax still raises hot debates amongst UK citizens. Here we take a look to see if we really are moaning for a reason, are we really are amongst the worst off when it comes to the most taxed earners in the world?
Spring has officially sprung as we start this week with the sun shining down over our Camden headquarters and while we reflect on last week we have even more reason to smile as our charity project rolls on, we save another of our clients a substantial amount of money and we enjoyed a great team night out.
D’Arcy Becker, CPA and Chair of the Accounting and Finance department at the University of Wisconsin put it like this, “Bookkeeping is designed to generate data about the activities of an organisation. Accounting is designed to turn the data into information”. But what difference does it make to your small business if you have a bookkeeper or an accountant?
Hiring a cheap accountant in London can cost you dear. In a city where people come to earn their fortunes, new businesses start, and equally, fail every day. But what is the difference between the ones with staying power and the ones who fold?
Last week was jam packed at A and L HQ. Aside from our standard work we took part in some cool extracurricular activities including charity work, a special ad-hoc project and a super fun special voting day in our Best Small Business Blog competition.
The IR35 legislation was put in place in 2006, to determine whether or not (from a tax perspective) a contractor is in fact an employee. But curiously, if the result of the IR35 assessment is that a given contractor is effectively an employee for tax purposes, this provides them with none of the legal rights enjoyed but typical salaried staff. And that really is the worst of both worlds, so it’s important to make sure that you don’t fall foul of the somewhat complex rules surrounding the IR35 legislation.
As we continue to grow our client base becomes more and more colourful...
With its soft sponge base, thin chocolate topping and tangy orange centre it would be hard to find someone in the UK who didn’t like the humble Jaffa Cake, well, unless you ask around the HMRC office that is. In 1991 the powers that be at HMRC tried to reclassify Jaffa Cakes as biscuits which would have pushed up the price by 20%. There was an outcry. How could the Jaffa “Cake” which goes from soft hard when stale, as opposed to a biscuit which goes from hard to soft when off, be victimised like this?!
So the first month of 2014 is done and dusted and while most people are happy to see the back of January we are waving it a very fond farewell as it’s been a record breaking month at Accounts and Legal HQ!
The accounting services you require as a small business will depend on how you are set up, Sole Trader or Limited Company, and also on your turnover and if you employ staff.
The cost of Payroll services will depend on the amount of employees you have. Here's our guide to how much these services should cost in London.
Failure to keep records can result in a fine of up to £3000 and disqualification as a Company Director so it is important to understand your obligations.
With the Self Assessment deadline looming you would think that hardly any of the 11 million registered as self employed in the UK would not still have a tax return to complete and send to HM Revenue and Customs; you would be wrong!
January is a cold, dark month, which to most people means January sales, taking down decorations and dealing with “holiday weight”. But to accountants and bookkeepers January means something else...
David Cameron was making headlines this morning with his efforts to make life easier for small businesses. He used this slot at the Federation of Small Businesses, to outline his plans for reducing red tape for small business owners. The only problem is that, when we conducted a recent survey of our clients, not a single one of them cited regulation as being a barrier to growth. So, is he perhaps barking up the wrong tree?
Walking into the Tattoo Parlour in Kentish Town you could be forgiven for thinking you had gone back in time. The stylish but true 50’s Rockabilly decor is inspiringly cool, the black and white tiles are reminiscent of a slick American Diner, the blood red walls scream danger, the circus signage is curious, but the waiting area, flooded with sunlight is (against all the odds) strangely calming...
Over the past 8 years, the number of Polish people in the UK has risen from 75,000 to half a million. But are service providers joining the dots? With so many Polish speaking people doing business in the UK are landlords, accountants and business consultants adapting or are they missing a trick?
W ciągu ostatnich 8 lat liczba Polaków w Wielkiej Brytanii wzrosła z 75.000 do pół miliona. Większość z tych nowo przybyłych mieszka i pracuje w Londynie, wielu zakłada przedsiębiorstwa: to nie jest rzadkością, aby zobaczyć polski sklep. Polski biznes budowniczy ma duży udział w londyńskim boomie mieszkaniowym.
Setting up as a sole trader can be simple and inexpensive but with it comes a lot of responsibility and a few risks. We explore the pros and cons here...
Setting up a Limited Company can be time consuming and complicated but incorporating (registering at Companies House) can save you tax and limit your liability. Find out how it works here.
True to form it’s been another action packed week at Accounts and Legal HQ from even more new clients to our new Accountant passing her Xero exam, there’s never a dull moment.
We proudly announced last week that we have just become official partners of Xero; online accounting software tailored to modern business requirements.
The general consensus today is that the High Street is dead. In only 10 years the rapid rise of the internet has led to a change in the way we shop with more and more of us choosing to shop online.
The Goths, Hippies and Mods who used to gather on the streets and around the lock provided Camden with its edgier reputation. But since those early days, while the Goths and Hippies are still very much part of the community, a quiet entrepreneurial revolution has been happening.
In 2013 a survey carried out by Accounts and Legal found that an astonishing 80% of small businesses wanted more commercial guidance from their accountant and overall only 10% were happy with their current bean-counter. There is a need for change.
What a week we’ve just had at Accounts and Legal! Not only did we sign 3 new clients including a Hollywood pro, we also launched an incredible competition, became an official partner of Xero, had our work published by Ingenious Britain, announced our client of the month AND kicked off our 2014 charity project! Phew!
To celebrate the New Year and our range of diverse and inspiring clients we are proud to present a new Client of the Month feature to our blog. Here’s why the Essential Care rock our world...
Accountants, with some justification, have a reputation for not being the best communicators. We aim to change all that, and one of the ways that we keep our clients up to date is through our Client Portal.
As it becomes ever so fashionable to be eco-friendly, two of London’s top accountancy firms have ditched the grey in favour of green and the gloves are off in this contest to be the environments best friend.
We at Accounts and Legal have begun the search to find the best small business blog and we’re offering a sensational prize as an incentive for the winner to step up and tell us about they’re fantastic blog. If you are running a small business and writing a blog to compliment it then we want to hear from you.
Named after Janus (ia:.nus), the Roman God of Birth and Transitions, January is globally recognised as a time to be productive, make promises and plan new challenges. Which makes it a wonderful time for small business owner and entrepreneurs.
London’s notoriously high rental prices only ever seem to go upwards. But what’s not so well known is that there are now around 10,000 people who live on boats across the capital’s expansive Victorian waterways – a lifestyle appropriately dubbed “Moor for less”.
As Christmas approaches and everyone starts to enter holiday mode, we at Accounts and Legal most certainly haven’t take our foot off of the gas; we’ve travelled to Thetford, been out and about in Camden, had another of our estate agent clients accredited by ARLA and we’ve got EIS approval for another of our clients.
Searching for an accountant in London might well feel like searching for the proverbial needle in a haystack. In a city where accountants are in abundance how do you know what makes a good London accountant and what makes a bad one?
When deciding which accountant to take with you on your entrepreneurial journey there are two main things to consider before choosing. Should your travelling companion sit quietly in the passenger seat (endlessly re-counting the parking money) or would you like a bit more conversation along the way?
We do claim to be London’s most interesting accountant but we definitely think we are also most helpful. Here's what we've been getting up to this week...
When you think of an accountant what do you picture? Is it someone less-than-inspiring in a dusty office surrounded by books and paper? So what if we told you about a young, vibrant accountancy firm with a fresh approach, an entrepreneurial spirit and an office in the heart of trendy Camden? Would you like to know more?
Customers are the lifeblood of any organisation, large or small. Without customers, it is very difficult for businesses to survive. There is always a need for businesses to not only expand their customer base but also retain customers they dealt with in the past.
The creation of a Linkedin page might seem daunting to small business owners however, it is relatively easy to set up and once it is up and running, it can be a very beneficial way of gaining new business. This article will show in easy steps how to create and set up a Linkedin business page.
In these challenging economic times, it makes sense for small business owners to make sure that they aren't overpaying corporation tax. We've put together some tips which we have found useful when trying to keep tax to a minimum.
Lots of people harbour entrepreneurial aspirations, but most potential business owners are deterred by the fact they are yet to have a seminal flash of genius to set them on their way.
Switching accountants is often easier than you think, and we can do most of the admin for you.
All the latest new from the Accounts and Legal office this week. We are now taking credit card payments and riding rodeo camels. Read our blog to find out why...
Ever wondered what goes on behind the scenes in a typical accountancy firm? Well after reading this article you might still be wondering. At Accounts and Legal we do things a little differently; here’s an insight into our world.
Do you know about HMRC's latest campaign designed to target landlords in the residential property market. The campaign gives landlords a chance to put right an errors made and get their tax up to date allowing them to remain compliant.
This week we are delighted to announce the arrival of Fraser Shaw and Jennifer Welford to our team. Read this and other news from the Accounts and Legal team!
Do you have an unconventional business in mind? Or are you just bored of the hum drum? Opening an "adult" shop might not be every entrepreneur's first choice, however, niche industries, especially those that are slightly taboo, can be lucrative for that very reason; only a few are brave enough to venture there.
Recruitment for any small business can be difficult, time consuming and costly unless the owners know where best to find the right people for their vacancy. This article will highlight the best job websites for a small business owner to use.
Ever wondered where your coffee beans get roasted? We've found a man who has been roasting coffee in central London since before the word entrepreneur even existed...
How does a new small business take on a market leader? Can a new online retailer reach the dizzy heights of ASOS or can a small chain of grocery stores change the shape of food shopping in the shadow of Tesco or Sainsbury’s? The answer, sometimes at least, is yes.
When you go to supermarket, have you ever wondered why there’s only one type of ketchup dominating the market? When you compare your accountants do you ever wonder why they’re all the same? Do you find yourself wanting more?
Small businesses should consider creating a business page to showcase their products/services on Facebook. Here are the steps involved in the creation of a Facebook business page.
Is it better to lead by inspiring or by intimidating? The following article will discuss this greater detail using examples of modern day leaders in the business world.
Choosing a company structure is one of the first decisions facing small business owners when starting up. There four choices available: Sole Trader, Partnership, Private limited company (Ltd) and Limited Liability Partnership (LLP), here we discuss some of the pros and cons.
Social media marketing allows small businesses to spread the word about their products and services in a way that is immediate and cost effective. But without a big marketing department, many small business owners struggle to find time to make the most of the marketing opportunities that are offered by these platforms.
Small businesses should consider creating a business page to showcase their products/services on Linkedin. Here are the steps involved in the creation of a Linkedin business page.
Online software or online accountants? We explore the difference.
Many small business in London find them looking for the cheapest accountant in town. We explain why a good accountant should pay for himself...
There’s a bewildering choice of software available to estate agents – over 30 different providers according to a nationwide survey that we recently conducted. We help you identify the best of large bunch.
According to companies house, there are more than 30,000 accounting firms in the UK. So we're very proud to have been announced as finalists for this year's British Accountancy Awards.
We have a number of sponsored trainee accounting vacancies. Find out more.
The balance sheet is not known for its user friendliness. We'll help you see the wood from the trees.
The cash flow statement is the thing that connects the Profit and Loss statement to the balance sheet. It's extremely helpful and much neglected by small businesses and accountants alike.
There are lots of different definitions of profit. Find out how to make sense of them.
For the uninitiated, trying in interpret a set of statutory accounts can be tricky. This is our guide to understanding them.
In these times of strained government finances, maximising tax receipts has become a key priority for the Chancellor. Make sure you don't get caught out by an inspection.
It’s often said that a good accountant will save you money in the long run. But it's not just about saving tax...
It's well worth investing time and effort in a good business plan. Here's a run down of what we think should typically be included.
Every year at the same time as your statutory accounts are being prepared, we prepare a Commercial Insight report, which aims to deliver actionable commercial guidance to help increase profitability and growth.
In our experience, the most successful businesses have two common features. The good news is that we can help you with the most important one.
Ever wondered whose Negotiators are the most productive? We have the answer...
Estate agents have a love-hate relationship with property portals. But recent consolidation in the sector has meant that some agents are now paying over the odds.
It's a rite of passage. After years of doing battle with increasingly uncooperative spreadsheets, the time finally comes to grasp the nettle and move your business to a purpose built accounting package. We review the options here.
In these times of austerity, tax free employee benefits are an interesting alternative to pay increases and great for improving employee morale.
Distributing cash to small business owners through dividends is classically much more tax efficient than taking the same amount through salary, but is there anything else to watch out for?
Interested in helping small businesses grow? We have the role for you.
We're looking to add another member of the team to our highly successful business development team.
We have a number of sponsored Semi-senior accounting vacancies. Find out more.
Payroll reporting requirements are changing. Find out what needs to be done.
Pension rules are changing and unfortunately it is going to be expensive for small businesses.
The prospect of making redundancies is one that fills most small business owners with dread, and not without good reason. Find out how best to approach it.