SMEs
Why do SMEs need an accountant?
Mar 08, 2024
If you are an owner of a small to medium-sized enterprise (SME), it is essential to consider the benefits of having a professional accountant. Engaging with an accountant can significantly enhance your SME’s prospects by providing expert financial advice and managing ...
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My business prioritises sustainability – Can I claim tax reliefs?
Mar 05, 2024
Investing in Environmental, Social and Governance objectives (ESG) and sustainability is becoming more popular for business owners at every level. However, overhauling business processes and purchasing new, greener assets can present a significant cost to SMEs and businesses without large cash ...
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Understanding VAT for limited companies and unincorporated businesses
Feb 29, 2024
For both limited companies and unincorporated businesses, managing Value Added Tax (VAT) can be a significant challenge, affecting a broad spectrum of business activities. Understanding VAT is crucial for business owners, as it not only affects how they price their products ...
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Can I claim Employment Allowance for my business?
Feb 22, 2024
The Employment Allowance is a means for SMEs to reduce the tax burden of employing staff at critical points in their growth and help avoid cash flow crises, via a reduction in National Insurance Contributions (NICs). What is the Employment Allowance? The ...
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Loophole closed: Pickups are now classed as cars (NOT vans)
Feb 15, 2024
A dispute between Coca-Cola and HM Revenue & Customs (HMRC) has closed the loophole that previously defined double-cab pickups as vans and now means they will be classed as cars. Historically, a double-cab pickup with a payload of one tonne (1,000kg) ...
READ MOREStarting a business: the complete checklist
Feb 13, 2024
The UK economy is built on SMEs and innovative entrepreneurs. In 2022/23, over 800,000 new businesses were registered nationwide, an increase of 6.4 per cent on the previous period. SMEs are significant contributors to wider economic health and their continued existence ...
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Understanding payroll responsibilities for apprentice wages
Feb 08, 2024
Managing payroll effectively is crucial, especially when it involves apprenticeship wages. Employers must adhere to government regulations to avoid potential fines, penalties and disputes. If your organisation runs an apprenticeship scheme, it is important to understand their specific pay requirements and ...
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Investing in skills – Why SMEs should embrace apprenticeships
Feb 06, 2024
Alternative routes to employment are in the National Apprenticeship Week spotlight this week. Do you think apprenticeships are right for your business? Apprenticeship opportunities are far more diverse and accessible for businesses than many people think. We’re going to lift the veil ...
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Government to change tax law twice before election – How to prepare
Feb 01, 2024
The Chair of the Conservatives, Richard Holden, has said that there could be two more changes to UK tax law before the election – which is expected to be called in the latter part of this year. The Guardian reported: “Rishi ...
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Attention UK Taxpayers – do you understand the 500T tax code?
Jan 31, 2024
The 500T tax code in the UK is a temporary, non-cumulative code used by HMRC when they lack information. They use this code to assign a standard tax code, usually in new employment, complex tax situations, or as an emergency measure. HMRC’s ...
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