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What's going on at the most interesting accountant for small businesses?

 

Tax Advice
21 May 2022
The end of the tax year in April 2023 may seem a long way away, but it’s never too early to start planning to minimise your tax liabilities for this current year.
Tax Advice
01 Apr 2022
April 5th is a significant day for anyone liable to pay tax. That date marks the end of the tax year, and it provides an opportunity to finally minimise tax liabilities for the current year and plan ahead for reducing liabilities for the next tax year, which begins on 6th April.
Tax Advice
03 Jan 2022
In this guide to uniform tax, our accountants explain the criteria for tax-deductible staff clothing and workwear, the type of tax deductions that are available, and how your business and your employees can claim them.
Tax Advice
12 Oct 2021
Max Whiteley, the head of accounts at our new Liverpool office, joined global accounting software firm Xero on stage at the Accountex Summit North. Together they gave some great advice and thoughts around the digitalisation of income tax and how to prepare for the new regime.
Tax Advice
21 Sep 2021
If you run a small business and you have employees who are working away from home - occasionally or regularly - it’s essential to understand HMRC’s rules on paying the expenses they incur for meals, overnight accommodation or other forms of subsistence.
Tax Advice
20 Aug 2021
Subsistence includes meals and any other necessary costs of travelling, for example parking charges, tolls, congestion charges or business phone calls.
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.
Tax Advice
31 May 2021
Here, our small business accountants will walk you through how to calculate RDEC.
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.
Tax Advice
08 Mar 2021
With cryptocurrency transactions, tax rules can get slightly complicated, and you could incur several different liabilities, like income and corporation tax, stamp duties, and – depending on transaction types – VAT.
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).
Tax Advice
26 Dec 2020
If you’re self-employed in the UK then each year you’ll have to fill out a self-assessment tax return to HMRC, showing your income for the year and the income tax you are liable to pay based on that. Our team of tax accountants break down the self-employed allowable expenses.
Tax Advice
22 Jun 2020
2020 has been a tough and stressful year for employees and people who are self-employed. The government lockdown to reduce the spread of Coronavirus essentially meant that people should work from home wherever possible. But, for many self-employed people that was not an option.
Tax Advice
16 Mar 2020
With the Federation of Small Businesses calling it a “pro-small business Budget”, here’s a breakdown of the key points from the UK Budget 2020 related to small businesses, tax and finance.
Tax Advice
21 Dec 2019
Legislation changes to IR35 are taking effect on 6 April 2020. Here we’ll explain everything you need to know about the off-payroll changes, and how you’ll be affected.
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17 Jun 2019
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.
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04 Sep 2017
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.
Tax Advice
09 Mar 2017
Here’s everything you need to know about National Insurance Contributions, the rates, the changes, who they affect and why.
Tax Advice
Tax Advice
16 Jun 2016
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.
Tax Advice
Tax Advice
09 Jun 2016
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?
Tax Advice
26 May 2016
What is a dividend waiver, how is it used...and when should it not be used?
Tax Advice
11 May 2016
What is VAT and how do you register for it? Don't worry, we will tell you all you need to know.
Tax Advice
21 Apr 2016
From sandwiches to your home office, we reveal the ten top tax deductions for the owners of limited companies.
Tax Advice
08 Apr 2016
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?
Tax Advice
29 Mar 2016
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.
Tax Advice
18 Jan 2016
Which rate of Value Added Tax would a small business pay on Companies House charges?
Tax Advice
28 Oct 2015
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?
Tax Advice
Tax Advice
01 Dec 2014
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.
Tax Advice
30 Jul 2014
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.
Tax Advice
14 Feb 2014
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.
Tax Advice
02 Aug 2013
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.
Tax Advice
27 May 2022
If you are starting a new business venture for the first time, you'll need to get your head around all things VAT. Here is a guide to help you get to grips with what VAT is, how it works, and what your obligations are as a business owner.
Tax Advice
11 Apr 2022
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?
Tax Advice
13 Jan 2022
If you have been buying or selling cryptocurrency and have made significant gains, you should be aware that HMRC is now taking a greater interest in these types of transactions and considering the tax implications.
Tax Advice
25 Oct 2021
If you employ people in your business, you have a number of options for rewarding them in addition to paying wages or a salary. One of the most flexible options is to offer benefits-in-kind (BIKs), sometimes known as fringe benefits.
Tax Advice
21 Sep 2021
While a trading loss is never good news for any business, it’s important to use that loss efficiently to reduce the tax bill you may have paid in earlier years. If you are an early-stage business in your first three years of operation, you may also use the losses incurred before you started to trade to offset any initial trading profits.
Tax Advice
24 Aug 2021
In the eyes of HMRC, VAT errors are your responsibility to put it right. If you don’t correct the VAT error in the right way or at the right time, HMRC has a long list of conditions under which they can impose penalties, a process known as ‘The Penalties for Errors regime’.
Tax Advice
22 Jul 2021
If you use your own car for business travel, you are entitled to claim certain costs as an allowance against tax and that could reduce your tax bill. The way company car and mileage allowances are calculated in the UK is different for employees and self-employed people. In this article, we explain the allowances for employees.
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.
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
22 Mar 2021
For millions of self-employed people in the UK, there was relief that the Government’s support scheme is set to continue following announcements in the 2021 Spring Budget. The Self-Employment Income Support Scheme (SEISS) was set to close at the end of February 2021, but has been extended to cover two further phases that will run until the end of September this year.
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’.
Tax Advice
03 Jan 2021
With Brexit finally confirmed, the New Year will bring significant changes to VAT rules for your business if you import or export from the EU. The new rules apply from 1st January.
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.
Tax Advice
27 Apr 2020
With the Coronavirus keeping consumers at home, high street businesses are feeling the hit while food delivery offerings and digital subscription services are seeing a surge in sales. Here, our top London accountants will explain these rules and exemptions to explain VAT charged on delivery and postage costs.
Tax Advice
Tax Advice
12 Nov 2019
There has been widespread growth among accountants in London and across the UK, especially in the past year. From the “big four” accountants to the new, innovative firms, the sector is seeing accelerated growth, which is possibly due to new regulations and economic uncertainty. Let's take a closer look.
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13 Nov 2018
Selling your business is exciting, but without proper planning there is a risk that after you die a large chunk of the proceeds will go to HMRC in the form of Inheritance Tax.
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04 Sep 2017
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.
Tax Advice
14 Jul 2016
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.
Tax Advice
16 Jun 2016
The singer Adele has been lumped with a rather large tax bill after miscalculating her dividend payments.
Tax Advice
15 Jun 2016
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:
Tax Advice
13 Jun 2016
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:
Tax Advice
06 Jun 2016
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?
Tax Advice
12 May 2016
Are company cars a bad idea for small businesses? If so, what's the best alternative?
Tax Advice
26 Apr 2016
96% of British SMEs that export are exporting to other EU countries, but the question is: how straightforward is VAT across EU borders?
Tax Advice
14 Apr 2016
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.
Tax Advice
07 Apr 2016
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?
Tax Advice
28 Jan 2016
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.
Tax Advice
03 Dec 2015
Get the right accounting and tax advice for your new business from dynamic, affordable accountants who understand you and your needs.
Tax Advice
21 May 2015
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.
Tax Advice
Tax Advice
11 Sep 2014
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.
Tax Advice
25 Feb 2014
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?
Tax Advice
10 Dec 2013
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.
Tax Advice
09 Apr 2013
Payroll reporting requirements are changing. Find out what needs to be done.