Ten top tips for boosting your budget
May 24, 2024
Effectively managing your budget is crucial for business success, especially in challenging economic times. Speaking with an accountant can significantly enhance this process by identifying further efficiencies and effectively managing cost savings. Here are our top ten tips for boosting your budget ...
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Streamlining your payroll set-up with employment and tax records
May 21, 2024
When your business takes on a new employee, we know that you’re eager to get them settled into their role – but not before you’ve completed the right checks and set them up in your payroll system! If you ask for ...
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Starting a seasonal business? Here is what you need to know
May 16, 2024
Are you considering launching a seasonal business? If so, you are beginning an exciting journey that comes with its own set of unique challenges and opportunities. Understanding the differences in seasonal commerce is crucial for success. Whether you are opening an ...
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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 ...
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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 ...
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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 ...
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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. ...
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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 ...
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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 ...
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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), ...
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