Blog
VAT penalties for late filing or payments – be aware of the changes
May 09, 2023
HM Revenue & Customs (HMRC) has removed the default surcharge for late payments of VAT and replaced it with what is a new penalty charge. The way interest is charged has also been amended. Previously, the default surcharge was two per ...
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Changes to the Seed Enterprise Investment Scheme (SEIS)
May 03, 2023
The UK has long been a hub for budding entrepreneurs and startups, with innovative ideas and new businesses emerging every day. The Government recognises the importance of supporting these early-stage businesses to stimulate economic growth and job creation. One such initiative designed ...
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Taxes you should know before starting a business
Apr 27, 2023
Starting a business is an exciting venture for aspiring entrepreneurs, and it is important that you become well-versed in all things tax. Keeping up with changes in tax laws and regulations, as well as adhering to proper tax planning and compliance, ...
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Employee expenses and benefits: How to submit a P11D form
Apr 25, 2023
Do not be stung when rewarding employees. Avoid penalties on employee benefits by correctly submitting P11D forms. ‘Benefits in kind’ are great perks for employees and a great way for employers to show their appreciation for hard work and valuable contributions. But ...
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Understanding IR35 and its implications for employers
Apr 20, 2023
If your business engages off-payroll workers, it's essential to be familiar with IR35 and its potential impact on your operations. IR35 – what is it? IR35 is a tax legislation aimed at ensuring that workers pay the appropriate amount of tax and ...
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The importance of financial reports as a business owner
Apr 18, 2023
As a small business owner, you will be in charge of many things and must juggle many responsibilities. From managing employees to targeting new customers, there are countless tasks that require your attention. One aspect of running a successful business that cannot ...
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How can you prepare for the basis period reform?
Apr 14, 2023
We are currently in the transition period for the basis period reform, which is set to come into full effect from the 2024/25 tax year. So, if you run an unincorporated business, you need to be prepared for the upcoming changes. What ...
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Preparing your business for the summer
Apr 11, 2023
If you run a business in a tourist hotspot, you need to get prepared for the summer. As the days get warmer, your business is likely to see a surge in demand. But what can you do to get ready? Recognise the ...
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What salary should I take as a director of a limited company?
Apr 06, 2023
Being a director of a limited company means having the ability to pay yourself in a different manner to being a typical PAYE employee. In the context of a limited company, it is common for the director to receive a salary ...
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Invest in your peace of mind: How an accountant can reduce financial stress
Apr 04, 2023
Managing finances can be a complex and time-consuming task, especially for business owners and professionals. It is easy to become overwhelmed by the intricacies of accounting, taxation and financial planning, which can ultimately lead to increased stress levels. In recognition of Stress ...
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