Are your employees generating enough revenue?
We take a look at how you can benchmark your business against your competitors and ask the question: should you be taking on another employee or getting more from the ones you have?
What are the #5mostimportant skills or attributes you would look for in an #accountant ranked by priority? https://t.co/UTPtIZe3R1 (14h ago)
We pushed them close .... https://t.co/FDjHzwJyg4 (15h ago)
We take a look at how you can benchmark your business against your competitors and ask the question: should you be taking on another employee or getting more from the ones you have?
Wow, that's an interesting case ... https://t.co/nr5aYC5hDT (5d ago)
@chrisifg Get 2 dogs .... :) (5d ago)
We take a look at how to extract cash from your business in the most tax efficient manner and examine the income tax rates for the 2017-18 accounting year.
@LCPSHOPNET It's a water pistol no? Just a very nice one :) (5d ago)
#tax - a conversation stopper if ever there was one! - https://t.co/STc6K8uwi6 https://t.co/kQJsSW4idD (5d ago)
An EMI scheme could allow you to incentivise your staff in a tax efficient way, locking in key members of staff so you can grow your business quickly and efficiently.
Just read an article on #sharedledgers - any other #accountants largely in the dark about this expected trend? (5d ago)
Too many #sme's seek advice only when it's too late and/or a lot more costly - https://t.co/5FDIkqAfjf (5d ago)
Understanding how your business performs is essential if an entrepreneur is to really take control of their business. We take a look at how we work with our clients to support them in achieving quality reporting and performance analysis even in small business.
Emotional intelligence now more than ever a key business attribute, especially for professions, not known for it! https://t.co/6uxpAXWD9H (5d ago)
RT @lawyersonlineuk: They've blown it! Benefits family who were handed £26K in TV experiment admit they've wound up their business 18 month… (5d ago)
We look at the Option to Tax exploring when you should opt to reclaim input VAT on a building or development and how you can do so.
Our #businessplan expert Louis is a man with a plan and a goal - to make yoir business a success -… https://t.co/bkp3baSp5i (5d ago)
@BarnsleyIs Thanks for the r/t guys :) (5d ago)
Here’s everything you need to know about National Insurance Contributions, the rates, the changes, who they affect and why.
@LovingLeeds thanks for the r/t guys :) (5d ago)
@Londonislovinit thanks for the r/t guys :) (5d ago)
Who are your debtors and who are your creditors? Though these terms are seemingly straightforward they can often be confused. It is important to understand that the debtor and creditor process can work in different ways, especially for small businesses. This article explains it all...
@Sheffieldis Thanks for the r/t guys :) (5d ago)
We grow when our clients grow .... which motivates us even more to #addvalue - https://t.co/LQjEbGU9ch https://t.co/eJAwu0lYyz (5d ago)
In short, Working Capital is defined as, “The capital of a business which is used in its day-to-day trading operations”. It is important for small businesses to understand what their working capital is in order to manage every day operations; it is the capital which you have to work with. Find out more...
Minster FM - News - Tax fears lifted as HMRC listens to small business https://t.co/7ca04T8tuJ (5d ago)
Scotland’s economy: Scotland ranked best place to start a business https://t.co/mEvr8IKMAe - so says the Scotsman :) (5d ago)
Different share classes allows flexibility in ownership and encourages investment but there are implications.
Lack of payment technology in-store costs retailers billions in lost sales https://t.co/5iIju2SOlG via @https://twitter.com/smallbusinessuk (5d ago)
Our services for #restaurants and all other businesses in #hospitality - https://t.co/hPIWT1OJsX https://t.co/KAOILnxdZ9 (5d ago)
Small businesses must fully acknowledge items such as Gross Profit, Net Profit and EBITDA to fully understand how they performed. In this article we explain them to ensure that you understand what is being referred to when reviewing your business year…
RT @alexiskold: How you do anything is how you do everything. Details matter. (5d ago)
RT @MONEY: The 25 highest-paying jobs you can get without a bachelor’s degree https://t.co/4S4iTRZ3Oy (5d ago)
Tips to help creative businesses to focus on the accuracy and timeliness of systems and identification of risks to allow them to make better commercial decisions, identify cost savings, better cash flow management and inevitably succeed.
And for #professionalservices trust must be earned not expected. https://t.co/vJx7SMZebQ (5d ago)
Not just tax and compliance - we integrate information with strategy - we're #accountantsofthings -https://t.co/axuLjtosM9 (6d ago)
We take a look back over 2016 to see what the data really shows about the London property market. We show how the London property market has slowed in both transaction volumes and price growth and take a look towards 2017, at what to expect in the London property market.
Because everything has a beginning, a middle and an end - https://t.co/1mVJSElq7l https://t.co/RRe9eb2bMZ (6d ago)
RT @QXASLtd: #MakingTaxDigital update: What does it mean for #accountants? https://t.co/pgfnbNMDPE #Accountinghour #MTD #SMEs #Tax #Complia… (6d ago)
Less than one year on from the beginning of our expansion to Brighton Accounts and Legal have reached dizzy new heights, quite literally.
RT @jerry_yetzer: Artificial Intelligence in Financial Services: Resistance is Futile #AI - https://t.co/TjjVeewkAT via @Irish_TechNews (6d ago)
RT @infi_abhishek: Wise words on #freedom #NelsonMandela #NelsonMandelaDay #NelsonMandelaInternationalDay #Nelson_Mandela #leadership #Lea… (6d ago)
What do you get if you cross a thriving economic hub with a city built on an expansive pebble beach? The perfect environment for some of the UK’s most creative, innovative and forward thinking minds and on Thursday 10th November Brighton’s Chamber of Commerce gathered these minds at The Grand Hotel in Brighton for a Business Leaders Lunch.
RT @LSBF: Survey shows a highlighted gap between what #Employees are wanting and what employers are delivering. #LSBFBlog https://t.co/XSR… (6d ago)
RT @BastlefordEng: The latest Bastleford Engineering & Consultancy! https://t.co/kWbrSy9zAx Thanks to @JennyHinsman1 @Accounts_Legal @sofia… (6d ago)
It is the season to be jolly, in this article we explore VAT and Christmas markets. Who has to charge VAT and how much? If your thinking about trading at a Christmas market this year read on to find out what you need to know.
A short story about #tax and #writers - https://t.co/IN6ePLupbh https://t.co/JkXic0WhCE (8d ago)
#spotthedifference between #profit and #cash - https://t.co/rHoNCX9H9g https://t.co/ngWSfxqIUD (8d ago)
On Thursday the 20th October we attended a very special debate which reached great heights in all respects. Hosted by the Brighton Chamber of Commerce in connection with Barclay’s bank this debate dealt with high growth businesses and how to manage them.
7 realistic ways to fund your small business https://t.co/cnxpPrt09U (8d ago)
RT @Real_Business: Cashflow is key, don't muddle up your expenses @webexpenses explains how to get it right: #scaleupsuccess hub - https://… (8d ago)
We look at one of digital marketing’s most consistent sectors – Branding & Design – to find out what is driving this consistency and what are the benchmarks to analyse as the sector consolidates.
RT @melonpupuk: Productivity the big challenge for SMEs #sme #smb https://t.co/Gr9gEkgTdz (8d ago)
RT @capenterprise: “3 Pillars of the Most Successful Tech Products” by @nireyal https://t.co/v8kktFUgYG (8d ago)
Digital Agencies have seen Gross income increase, however, they have failed to translate this to bottom line profitability. Accounts & Legal explore the use of freelancers and what effect this has had on the sectors financials
RT @jkevinappleby: Running a healthy business? Find out how well it scores in the business health check. https://t.co/OlFryy1T1r #BTRTG htt… (10d ago)
RT @AshleighVanK: PwC's latest Global State of Information Security Survey #privacy #cybersecurity https://t.co/YZ7eF8beA3 (10d ago)
Accounts & Legal take a deep dive into the new Bank referral scheme: a scheme set to revolutionise micro and small businesses lending and change the way business borrow money in future.
RT @startupstowers: The government has made changes to the timetable for Making Tax Digital & it's good news for small business owners: htt… (10d ago)
https://t.co/dSgYv5yNG5 - #creativesector https://t.co/St6b55UcFz (10d ago)
Not only did the 2016 Autumn Statement rock the Estate Agent industry, it also announced changes to the flat rate VAT scheme which will affect some contractors and freelancers.
Specialist #accounting services for the #healthcare sector - https://t.co/IAzMPNtXE1 (10d ago)
RT @AnjaHoffmann: #DigitalTransformation: A Mindset Shift! by @tnvora via @evankirstel https://t.co/x8dHnF9xlq (10d ago)
We explore Passerini, an interior design house that brings Italian and European design to the world through their London studio. Sophia sits at the heart of Passerini, discover more about her experiences setting up a UK business and selling throughout the world in Novembers client of the month segment.
RT @BcardBusiness: Want to diversify? Festivals could be a big opportunity for your business. Take this quick quiz to find out: https://t.c… (10d ago)
Corporation tax advice and services - https://t.co/PePunyO82o https://t.co/LmycB16RXJ (10d ago)
We take a look inside recruitment's smallest but most profitable sector. Could healthcare be recruitment's next rising star?
Strangely enough, seems that #harvard agree with us - https://t.co/Tq8W5hvTYj see also https://t.co/O9K345IfcX https://t.co/j1zkG3od2w (10d ago)
SME bad debt rockets amid calls for Government to speed up rate relief https://t.co/Lm4lVVzzKj via @TeleConnectSME (10d ago)
We take a look at the rising star of the recruitment sector - tech. With demand for skills outstripping supply, coders and programmers are choosing to go it alone rather than stick with permanent contracts - we look below the surface to understand how this is impacting on the recruitment industry.
RT @StartUpBritain: 4 Reasons to Consider Contractors Before Full-Time Employees https://t.co/zo5hcPvfSH via @Entrepreneur #Business #HR ht… (10d ago)
⚡️ “MP quotes Stormzy in her first speech” https://t.co/BMeWfXcYE7 (10d ago)
Accounts and Legal see business from every market and sector. We have recently seen a rise in the number of Amazon drop shippers we decided to investigate what they are and why more people are doing it.
⚡️ “Man gets locked in an ATM, slips out 'help me' notes to get free” https://t.co/ohNL8jiqO1 (10d ago)
The thing that no #business owner ever wants to read but really ought to -- https://t.co/IYlgPRr7XY https://t.co/UhnyFjs0cH (10d ago)
Move over Tattoo Fixers, step aside Body Fixers, there’s a new breed in town and, of course we might not have our own TV show yet but, we’re just as exciting.
Nathan Smith of Smith’s Hair Studio offers great haircuts and a fresh take on the traditional salon business model. All to the sound of great music with a happening vibe. We dropped in to see what it's all about.
The recruitment industry is booming but, in our quest to deepen our understanding of the the industry, we asked the question - who is your recruiter really working for?
On our last trip to Brighton we suffered delays and over crowded trains thanks to Southern Rail. We look at what were the real costs for these delays.
We are regularly asked: as a non-UK resident how can I open a business bank account in the UK? We looked in to this and here's what we found.
Whilst accounting conventions can be very useful for some things they can also hide commercially significant data. We look at one convention in the recruitment industry and explore how this could impact on a business.
With HMRC opening an ever increasing number of compliance reviews into the tax affairs of small business, Accounts and Legal now offer client a fixed fee Tax investigation Service. We look at why.
Brighton and Hove Chamber of Commerce Business Breakfast consists of networking, a scrumptious breakfast and talks from inspiring local businesses always has a certain buzz.
Brighton Business Club has been created by Accounts and Legal to bring the local business community together with the hope of informing and inspiring them. Last night we hosted our first Brighton Business Club session and it was a very enjoyable evening for all involved.
On Saturday the 17th September we attended Discerning Events' first Sustainable Business Fair
It would be impossible to fit everything you need to know about making your business successful into one article but we covered a lot of ground in one morning last week with Gavin Bellamy of Action Coach.
We started fresh on Friday 16th September as we attended the buzzing Juice FM Business Breakfast Club.
As temperatures in the UK soared yesterday the majority of the population opted to cool down with cold drinks and ice cream but entrepreneurs in Brighton had different ideas.
What do Corporation Tax and Conifers have in common? Accounts and Legal care about them both. Read about out new Sustainability Policy.
Ensuring invoices are paid, and paid on time, is a critical issue for most small business owners, since unpaid bills (or even late payments) can seriously undermine a company’s cash flow.
New challenger bank set up to specifically address the needs of the UK's Freelancer community - we look at what makes them different.
It's time for a new Client of the Month! Get your math book out and pencils sharpened for this one, it's time to meet our featured client for September: Alphablocks Nursery School.
Digital technologies are becoming as important on the shop floor as they are on the ecommerce store. Here’s how.
The vote for Britain to leave the EU has caused a lot of political turmoil and uncertainty. Here's what a Brexit might mean for the governments policies for the UK's small businesses.
How can a small business owner reclaim the VAT paid on allowable business expenses clocked up while visiting other EU countries?
Getting a good bookkeeper can really help your business get of the ground and stay on track. Here's what can happen if you hire a bad bookkeeper.
Cloud accounting offers a number of valuable benefits for small business accountants and their clients. Here's why accountants should have their heads in the cloud.
With a Brexit waiting two years down the road, this might lead to relocation of company headquarters and talent away from the UK. Will this lead to a talent boom for British businesses?
Britain is in the grip of an entrepreneurial revolution, and technology is playing an increasingly important role in driving this culture of entrepreneurship.
As the UK faces a looming talent shortage, can technology help British SMEs plug the talent gaps?
Are you trying to decide on the right business structure for your start- up? Thought about starting as an LLP but not quite sure what the company structure consists of? Here's what you need to know.
Data from StartUp Britain reveals that the UK is on track to incorporate a record number of new startups this year.
Calculating your tax bill at the end of your financial year can be scary, but there are easy ways to avoid the panic that comes with paying the taxman.
This inspiring young couple started their business to teach, inspire and help young kids wanting to become dancers, singers or actors. Here's how a TV performance and talent show marked the start of a business.
Even though England didn't win the Euros, Wimbledon was a massive smash, won by Andy Murray. Here's how your business can increase your profits from great tournaments like this one.
Online accounting could be just the ticket for cash-strapped, time-poor startups.
Whether we like it or not, Britain has voted to leave the European Union. How should small business owners deal with the fallout?
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.
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.
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?
Are you looking for a new small business accountant? It really doesn't matter where you live, thanks to new technology and software, you could hire an accountant from anywhere in the UK. Here's why an accountant in London is a good choice.
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.
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.
The singer Adele has been lumped with a rather large tax bill after miscalculating her dividend payments.
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.
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...
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:
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?
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?
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:
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?
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.
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?
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.
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?
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.
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?
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?
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.
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.
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.
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.
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?
Learn how Antonio Pisanelli is bringing the vegan lifestyle to the cosmetics sector with Stvdio5, our Client of the Month for April.
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.
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.
Increasing numbers of people are going solo when setting up a small business, turning us into a nation of solopreneurs.
What is working capital, and why should small business owners understand how to manage it?
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.
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.
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.
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.
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.
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?
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.
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.
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.
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.
Get the right accounting and tax advice for your new business from dynamic, affordable accountants who understand you and your needs.
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.
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?
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.
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?
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.
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?
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!
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.
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.
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.
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.
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?
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 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!
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?
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?
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.
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?
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.
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.
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.
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.
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.
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...
Do you think you might be working with a bad accountant? Here's what you need to look out for...
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…
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.
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.
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?
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?
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.
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.
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?
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.
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.
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.
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!
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.
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?
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?
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.
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?!
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.
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?
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.
Switching accountants is often easier than you think, and we can do most of the admin for you.
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.
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.
Many small business in London find them looking for the cheapest accountant in town. We explain why a good accountant should pay for himself...
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.
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...
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?
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.