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Small Business Advice
17 Jul 2021
In this guide, we’ll explain how crowdfunding works, its benefits compared to other methods of financing and the factors that determine a successful crowdfunding program. We’ll also outline the services available from the best crowdfunding sites in the UK.
Recruitment
Tax Advice
08 Jun 2021
In this article, we set out an example of the calculations you need to make to find out how much you have saved on your tax bill. The savings apply to both profitable and loss-making companies and we have included examples for each.
Accounting Advice
10 May 2021
Accounts payable probably isn’t the most glamourous element of your business, but it’s undoubtedly one of the most important. Getting accounts payable right can have a substantial positive impact on your organisation because it affects some of the most fundamental aspects of doing business. Here’s how it all works.
Tax Advice
20 Apr 2021
In this article, we explain the most tax efficient ways to extract cash from your business, including the latest information available on tax rates and allowances.
26 Mar 2021
If you’re considering pension options for yourself or for key members of your small business, you may be weighing up two sets of initials – SSAS and SIPP. SSAS refers to small self-administered schemes and SIPP is a self-invested personal pension.
Small Business Advice
15 Mar 2021
As business owners, bookkeeping and accounting can often be the part of the role we dread the most – and terms like trade debtors and trade receivables certainly don’t help. The fact is, to all intents and purposes, many organisations out there can treat the two terms as one and the same.
Recruitment
25 Feb 2021
To apply for the role of Cloud Accountant, send a CV, cover letter and 60 second video on what you are passionate about to brighton@accountsandlegal.co.uk.
Tax Advice
01 Feb 2021
If you’re a business owner, you’ve probably been eagerly awaiting news from HMRC about the 2021/22 thresholds for income tax, statutory payments, and national insurance contributions (NIC).
Small Business Advice
24 Jan 2021
Ever wondered what statutory accounts are, and why you need to file them? What should even be in the accounts? Here's our short guide on everything you need to know about statutory accounts.
Small Business Advice
28 Dec 2020
In what will signal a blow for many struggling businesses, HMRC has said it will not be waiving late filing penalties or extending the set January 31st deadline. However, there's slightly better news if you've been affected by the pandemic. HMRC has also said it will consider cases where COVID-19-related problems cause delays. Businesses will also get more time to appeal against penalty decisions.
Tax Advice
29 Nov 2020
People who have been self-employed for some time will be familiar with the procedures, but if you’re new to self-employment, it’s important to understand your filing and payment obligations so that you don’t incur fines from HMRC.
Small Business Advice
Tax Advice
15 Oct 2020
It's great news for many UK businesses. In a long-anticipated update, Chancellor Rishi Sunak announced an extension for companies that deferred their VAT because of the COVID-19 pandemic.
Small Business Advice
27 Sep 2020
On 24th September, after weeks of speculation, the Chancellor announced the successor to the furlough scheme as part of a Winter Economy Plan. The ‘Job Support Scheme’ will come into effect on November 1st and will cover a six-month period. Here are the key elements of the new scheme, as well as a guide for employers on what to do now furlough is ending.
Small Business Advice
15 Sep 2020
Here, our corporate finance team sheds light on small business financing options for SMEs, plus how we can help ensure businesses have the funds in place to ensure their company thrives.
Tax Advice
21 Jul 2021
Corporation Tax is payable on trading profits - in its simplest form, the income of the business after all allowable expenses have been deducted. The calculations for the final taxable profit figure are more complicated than that and it pays to take professional advice so that you can minimise your Corporation Tax liability.
Accounting Advice
27 Jun 2021
If you come across the term liquidity ratio, you might think it’s just a technical accounting term. In fact, it’s a financial measure that provides you with an important indication of the financial health of your business.
Accounting Advice
21 Jun 2021
Breaking even is a pretty straightforward concept to most business owners, but there’s a lot more to your break-even point than you may realise. On a rudimentary level, breaking even is when your total business costs are equal to the revenue you generate, but you can gain a lot more insight about your business from running a regular break-even analysis.
Tax Advice
18 May 2021
As of 1 July 2021, new rules will be introduced by the EU regarding VAT in e-commerce. The new rules will extend the Mini One Stop Shop (MOSS) that is currently available for B2C sales VAT accounting regarding Telecommunications, Broadcasting and Electronic Services (TBES), to all B2C service supplies.
Tax Advice
03 May 2021
The Chancellor announced a number of changes in the 2021 Spring Budget that will affect you if you are self-employed, work as a contractor through a limited company or run a small business. Some of the changes take effect immediately; others will impact your business in future tax years.
Tax Advice
11 Apr 2021
We have put together this article to ensure you have everything you need to understand how dividends are taxed in the UK in 2020/21.
Our News
15 Mar 2021
Here at Accounts & Legal, we’re delighted to announce that a valued member of our hard-working team was recognised earlier this month with one of the most prestigious accolades in the industry.
Small Business Advice
08 Mar 2021
The Spring Budget recognised that the impact of COVID on small business is not yet over. Various support schemes and loans for businesses and the self-employed continue, but, at the same time, the Chancellor has begun to claw back some of the costs of that support with an announcement of future tax rises.
Tax Advice
24 Feb 2021
It’s been a long time coming, but March 1st finally sees HMRC’s change to VAT rules for the construction industry come into operation - ‘VAT reverse charge on construction and building services’.
Accounting Advice
27 Jan 2021
A balance sheet is a snapshot of what your business owns (assets), and what it owes (liabilities), at a specific point in time. By analysing the balance sheet and comparing it with information from your income and cash flow statements, you can make a realistic assessment of the financial health of your business.
Small Business Advice
30 Dec 2020
As coronavirus continues to spread fuelled by the new variant, the Chancellor has extended key schemes to support businesses and employees through to spring, when the Government hopes the twin vaccines will begin to slow the pandemic.
Small Business Advice
03 Dec 2020
The most straightforward way to answer the question “What is Invoice Finance?” is to say it’s booming. There are several primary reasons for that, and during the past couple of decades, some key events have changed the way small to medium-sized businesses are borrowing.
Accounting Advice
05 Nov 2020
Accountancy and commerce are inextricably linked. At the best of times, accountants are an invaluable resource, but no business can afford to be without one when the financial climate is less favourable.
Small Business Advice
19 Oct 2020
The Government has introduced a number of schemes to enable small and medium businesses to continue trading during the pandemic crisis – BBLS, the Bounce Back Loan Scheme and CBILS, the Coronavirus Business Interruption Loan Scheme.
30 Sep 2020
Buying a business can be a great way to bypass some of the years of hard work that go into building a venture. Yet, it's by no means plain sailing, and it's only likely to prove a shortcut to success if you get everything right. While buying an established business does require some time and effort, it also means you'll need to have access to substantial funds, so there are risks.
Industry Specific Advice
17 Sep 2020
In case you hadn't heard, the FIRE (Financial Independence/Retire Early) movement has been gaining traction for a while now. In essence, followers believe that you get paid for your time, and how much time you are free from a traditional job is what defines success and happiness.
Small Business Advice
21 Aug 2020
It’s often said that the value of your business is what someone is willing to pay for it, but there are several approaches you can deploy to reach an accurate figure. Here's how to value your small business accurately.