With the Christmas season almost upon us businesses will be looking to book up their Christmas party and let staff know the plans. As well as considering how long the bar is open for, there are tax considerations to also throw into the mix. In this blog post we take a look at what they are.
In this blog post we take a look at the basics of VAT including when you must register, what happens when you do, and the different schemes that you can operate. It can be a very complicated tax which sometimes makes it seem intimidating, but it is worth noting that in the vast majority of cases and transactions it is fairly straightforward.
Following on from last months topic of Benefits In Kind, we thought this month we would give a detailed guide to personal tax codes – what they mean, how to understand them, when they change, and how you can check yours is correct.
It is becoming increasingly competitive to recruit employees, and a growing expectation by potential employees for benefits in kind to be provided. HMRC say that anything of monetary value you provide to an employee that is not “wholly, necessarily and exclusively” for them to perform their role is a benefit-in-kind. We take a look at what this means for you and the employee, and what you can provide to them tax free!
Running your own business can often make you feel like there is not enough time in the day, meaning deadlines can come round much quicker than expected. In this blog we thought we would run through the accounting and taxation deadlines for your small business, and what the important dates to remember are.
Thursday 11 May saw the Bank of England increase interest rates for the 12 consecutive time in a bid to combat the high inflation we are experiencing in the UK. The increase of 0.25% takes the base rate to 4.5%, its highest level since 2008. In this blog post we look at what this rise means for small businesses.
We’ve all heard the phrase “cash is king” – and the reason we’ve all heard it is that whilst it has been around for many years, it applies as much now as it ever has. For a new or growing business cash can prove a real obstacle to growth, even when you have won that lucrative new contract you have been chasing. In this blog post we take a look at cash management in your business and how to make sure you plan in advance so that growth doesn’t get stunted.
In this blog post we are tackling the tricky subject of the Basis Period Reforms. We say tricky subject as the whole basis period setup that existed was often confusing, and it seems that the Governments’ escape plan also takes a bit of time to get your head around. If you are self-employed or a partner in a partnership and have a year-end that is not either 31 March or 5 April, then strap yourself in and we’ll talk through how the changes will affect you.
If you are a director in a company then chances are you have heard Directors’ Loan Accounts or their acronym “DLA” mentioned. In this blog post we explain what they are, how they can arise, and the implications they can have.
As we’ve made it through another January we thought we would take a look at Self-Assessment Payments on Account. This is a key area of tax planning with sometimes major implications for cash flow. We often find that clients transferring from another advisor have been prompted to do so after getting a nasty surprise on this area so we thought we would run through how it works.