01494 439013
As an accountancy firm who provide fixed price accountancy packages for business startups, you might think we have a vested interested in recommending any new business get an accountant as soon as possible, but believe it or not it does make good business sense. Yes, of course you can manage
Our MTD for ITSA pilot scheme is a great way of preparing for when the changes to how and when you file your Self-Assessment returns come into effect in 2024. Find out how taking part could benefit you and your business.
If you are a VAT-registered business and haven’t signed up for Making Tax Digital for VAT (MTD VAT) yet, then, we don’t want to alarm you, but you have less than a month to go! And if you’re thinking it doesn’t affect your business because your taxable turnover is below
With the massive changes the pandemic has wreaked on how we live and work, it’s not surprising many of us have forgotten completely about Making Tax Digital (MTD). MTD is the government’s initiative to make it easier for individuals and businesses to get their tax administration right and is broken
2021 has been another difficult year. COVID-19 doesn’t seem to be going away anytime soon and many of us are grappling with the idea that working from an office full-time might not be the way to go. And with Christmas just around the corner, many of us are also wondering
With the petrol crisis continuing and mounting pressure for us all to be greener, more and more business owners are looking at purchasing an electric car for their business. And with the government offering various incentives and evidence suggesting electric cars are 49% cheaper to run than their petrol or
Nothing is more stressful for a small business than unpaid invoices. Not only does it have a negative impact on your cashflow, but it also gives you more work to do when you really want to be focusing on generating more business. Even worse many of us find it quite
Introduced to protect millions of jobs during the Coronavirus pandemic, the furlough scheme was first launched in March 2020. Since then it has supported 11.6 million jobs, will cost approximately £666bn and has helped keep the employment rate to less than one in 20. But as the country gradually opens up,
If you’re just starting a new business the number of things you have to do can feel overwhelming. After all, it’s not just a case of focusing on what you are selling, but also about managing your finances, ensuring people know about your great product or service, knowing when and
Starting your own business is exciting, but in the midst of deciding what you are selling, your unique proposition and choosing the design of your funky new website, it’s easy to forget some of the more mundane items. After all, do you really need to worry about bookkeeping, cashflow or
Last week, Rishi Sunak used the Spring Budget to announce his plan for economic recovery. As well as plans for investing in the future economy, he also outlined how he will continue to support businesses and the self-employed through the next stage of the COVID-19 pandemic. The good news is
If you’re self-employed or thinking about becoming self-employed, then your business will have various running costs. The good news is some of these will be ‘allowable business expenses’, which means they can be deducted from your turnover so will reduce your overall tax bill. However, not all business expenses are
This year has been pants! There are no two ways about it, and if you’re anything like us you’ll be sick of all the doom and gloom. So, while we could do another blog on the furlough scheme extension, or how you really should get your self-assessment tax return in
Coronavirus has been a strange and stressful time for all of us, but one thing that it has done is bring us altogether. From the amazing work by NHS staff to taking part in the Thursday clap for carers with neighbours we barely ever see, it’s shown once again that
Officially opened to applications on 20 April, the furlough scheme is designed to put people on temporary leave during the coronavirus outbreak, so companies aren’t forced to make mass redundancies. You will have seen in the news last week that the furlough scheme has been extended until October 2020, but
Over the last few months, we’ve had a number of clients receive letters from HMRC demanding repayments for Child Benefit to which they weren’t apparently entitled. And if you look at some of the online parenting and money forums it seems they aren’t the only ones. Back in January 2013,
Over the last 6 years there has been a technological revolution in online accounting software. As an accountant, we need access to your bookkeeping information so that we can prepare limited company accounts or personal tax returns. Before online accounting software we would have to wait for a backup of
You’ve probably heard the stat that 30% of businesses fail during the first two years, so we are delighted to have made it to our 5th year of helping small businesses manage their financial affairs. If you’re thinking of starting your own business and want to know what the journey
If you’re an employee, who has taken advantage of any taxable benefits on offer from your employer during the last tax year, then 6th July is just around the corner. Why should you be interested? Because if you want to reduce the amount of tax you pay on your taxable
Setting up a business is a big step, and like all big steps you’re likely to be excited and frightened in equal measure. Chances are you’ve already done the fun bit of checking out if your business idea is feasible, writing a business plan and working out setup costs. But
Email, text messages, phone calls – every year thousands of taxpayers are targeted by criminals who will use whatever means necessary in order to con us into revealing personal information or even worse part with our well-earned cash. At first glance, these communications look like they come from HMRC, but
Christmas is over for another year which means only one thing – the self-assessment deadline is upon us! Yes, if you haven’t already filed your self-assessment tax return for the year 2017/2018, then you only have until 31st January to both file it and pay what you owe. But don’t
Everyone is entitled to time off regardless of whether you are employed, run your own limited company or are self-employed. However, if you work for yourself it can sometimes feel like taking a holiday is more hassle than it’s worth! But with a bit of preparation you can have a
If you run a limited company, you may have come across the term ‘Director’s Loan Account’ but may not know what it means. In this post, we’ll look at what one is, why they are important and how to minimise your tax liabilities. What is a director’s loan account? A
The tax return silly season has just finished and for some of us it was hell; however, it’s not too late to start tax planning for the end of the tax year which is still a month and a half away. There are certain things that anyone can do to
With the changes in how dividends are taxed, it is now more complicated than ever working out the most effective way to pay yourself as a director/shareholder of your own limited company. Not only do you need to take into account how much tax you yourself will be paying, but
I am often asked what the advantages and disadvantages are of voluntarily registering for VAT. Whether you are a sole trader, partnership or limited company, you can voluntarily register for VAT as long as you make relevant taxable sales and have an income which is less than the VAT threshold
Wow! Taking on your first employee is such an exciting, terrifying and stressful goal to reach when you are a small business owner. Once you realise that your business can’t grow any further without additional staff, there are lots of things you need to consider. Hire the right person Firstly,
Do you run a limited company? Have you ever wondered if you are claiming all the relevant expenses for your business without incurring any taxable benefits for yourself as director and/or your staff? Here are some of the lesser known limited company expenses that you could be claiming: Christmas parties
When you’re self-employed, it can be confusing knowing what you are allowed to put through as business expenses as the rules vary depending on your trade. The main rule of thumb to follow is to work out if that expense is “wholly, necessarily and exclusively” for your business. If it
Whether you’re a sole trader or are running a limited company, you should be asking yourself the following questions about your accountant on a regular basis: Are you happy with them? Do you feel like you are getting value for money? Do you feel you are always getting unexpected bills?
If you are just starting out in business, choosing the right accountant is essential. They are an important business adviser, who should make you feel at ease and help you understand the financial side of your business so that you can make informed, well-timed decisions. We look at the key
When you decide to set up a business, one of your first decisions should be selecting a business structure that is right for you. Getting it right from the outset is a lot easier than changing your mind 6 months down the line. Getting it right from the outset is
If you are thinking of buying a new car, you have the choice of buying it personally or through your company. We take a look at the tax implications and costs of each option to help you decide how to purchase your new car. Buying or leasing a car – The
Fed up with looking at this every month? Want to be more like this? Here are our 5 top tips to help you get super-organised. 1. Each week set aside a couple of hours for paperwork – this could be for raising sales invoices, filing receipts or sending
Deciding to ‘go limited’ is definitely a wise choice, but once that decision is made you then have to decide whether to form a private limited company (LTD) or a limited liability partnership (LLP). This decision can be complicated as both structures handle tax, profits and membership differently. Outlined below
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Registered address: 173 Hicks Farm Rise, High Wycombe, Buckinghamshire, England, HP13 7SQ
