Blog
January 2022 – Post-Brexit Customs Controls now in Operation
Following the end of the Brexit transition period, new customs controls are now in place for businesses moving goods to or from the UK. The new controls took effect on 1 January 2022 and HMRC wrote to traders at the end of last year to remind them of the new rules...
Tax-Free Childcare – Am I eligible as a company director?
If you have a family and associated childcare costs, could you be missing out on thousands of pounds in tax relief each year? Childcare is not generally an allowable business expense, but if you draw a salary as an employee of your own company (including directors),...
Statutory Sick Pay Rebate scheme (SSPRS)
In response to the Omicron COVID-19 variant and the difficulties faced by businesses as a result of increased employee absence, the Government’s Statutory Sick Pay Rebate Scheme (SSPRS) has been reintroduced. Originally launched in Spring 2020, the SSPRS had come to a...
Bookkeeping Tips for Small Businesses
Accurate bookkeeping is the foundation of business accounting. Without it, how can you track your cashflow, stay on top of your taxes or understand what finance you need to sustain and grow your business. Consider the impact that poor bookkeeping might have in the...
Should you transfer Buy-To-Let properties to a Limited company?
This isn’t an easy question to answer because it is so dependent on your circumstances. But there are scenarios when it might make sense, and this is what we have explored below. The Benefits of using a Limited Company
Payment Diversion Fraud – Look Out!
Over the last couple of years, cases of payment diversion fraud have been on the rise. In part due to the pandemic and increased remote working, organisations and individuals have become more susceptible to this type of fraud. So, what do you need to know about...
What are Statutory Accounts?
Who do Statutory Accounts apply to? Before we look at the ins and outs of Statutory Accounts, let’s first clarify which business types they apply to. Statutory Accounts will apply to your business if it is a limited company. Therefore, if you are operating as a sole...
Choosing the right Cloud Accounting Software for your Business
Since HMRC introduced Making Tax Digital (MTD) in 2019, it has become increasingly important that businesses consider cloud accounting, or accounting software, as it is also commonly known. Although the MTD deadline for all VAT registered businesses (above and below...
Autumn Budget 2021 Key Points
Chancellor Rishi Sunak used the Autumn Budget 2021 to invest taxpayer money in long-term plans he says will secure the economic future of the country. Everything from the NHS, schools, local transport and the culture and leisure sector appear set to benefit from the...
Self-Assessment – What you need to know
What is Self-Assessment? Self-Assessment is aimed at individuals whose income isn’t taxed automatically when it’s paid. So, while employees are generally taxed automatically by their employer through the Pay As You Earn (PAYE) scheme, the individual is responsible...
Why you should get a Business Valuation
Whether you are thinking of selling your business or not, it is still worth having a free business valuation now. And if you are considering selling up within the next three to five years, it is likely to be beneficial to carry out some forward planning before you exit the business. Exit planning is the process of getting
2022 National Insurance Tax Increase
After much speculation, it was confirmed by Boris Johnson that National Insurance contributions (NICs) will be increased by 1.25% from April 2022. The rise will affect both employers, employers and the self-employed and will mean that those above the minimum...
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