Furnished residential lets vs Furnished Holiday Lets – The tax situation

May 14, 2024

If you’ve invested in a property to let and furnished it, you will be liable to pay tax on the income you receive from letting the property out. However, you may be able to claim some allowable tax reliefs and deductions. The ...

Acc A (09.05.24)

How SMEs can benefit from £6.4 million AI training fund

May 09, 2024

The Department for Science, Innovation and Technology (DSIT) has recently introduced a vital initiative targeted at small and medium-sized enterprises (SMEs) in the Professional Business Services sector. This scheme, the Flexible AI Upskilling Fund, commits £6.4 million to bridge the skills ...


Changing your VAT details? Remain vigilant over latest fraud activity

May 07, 2024

HM Revenue & Customs (HMRC) has issued a warning to businesses over fraudulent attempts to access VAT repayments via postal form VAT484. What’s happening? The form, used by business owners to change VAT registration details with HMRC if unable to do so ...


Is it time to scale up your start-up?

May 02, 2024

Scaling your start-up is a crucial decision for business owners, as it can directly impact the business's long-term success. Typically, growth involves increasing revenue and resources at a consistent rate, whereas scaling entails identifying ways to grow more quickly and efficiently. ...


The most common VAT filing mistakes – and why MTD is the solution!

Apr 30, 2024

If your business has a turnover of £90,000 or more and sells products or services subject to VAT, then you must register to pay it and file a return to HM Revenue & Customs (HMRC) - at least once every ...


How your business can benefit from using Management Accounts

Apr 25, 2024

Management Accounts consist of regularly updated reports for both internal managers and external stakeholders or investors. These reports deliver essential financial data that demonstrates your business’s operational effectiveness. While not compulsory, Management Accounts facilitate improved decision-making and enhanced monitoring of your progress ...


Ahead of the 6 July deadline, remember that P11D rules are changing

Apr 23, 2024

If you choose to offer certain benefits to your employees, then you may incur additional Class 1 National Insurance (NI) liabilities which must be reported to HM Revenue & Customs (HMRC). This applies to benefits known as ‘benefits in kind’ (BIKs), ...


Why are business plans so important?

Apr 18, 2024

Many believe that business plans are only necessary for start-ups and new enterprises. Maintaining an active business plan throughout the life of your business can ensure its continued success. Creating a business plan may seem daunting, but with clear priorities and guidance ...

Accountancy A - Payroll Changes

Reviewing your payroll? Check what’s changed

Apr 16, 2024

With the new tax year underway, it’s time to review your payroll to ensure that it reflects the latest changes and updates to legislation around pay, holiday and tax. The new financial year is a busy time for employers and business ...


What are the benefits of using the HMRC app?

Apr 11, 2024

The HM Revenue & Customs (HMRC) app was launched in 2023 and has quickly become a key tool for many, with over 80 million interactions. Designed for convenience and efficiency, the app stands as a crucial resource for managing tax affairs. Upon ...


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