If you are a sole trader or partner in a business partnership, then you must keep self-employed business records. These business records will include your business income and expenses for your tax return if you are self-employed. You will also need to keep records of your personal income. If you are the nominated partner in […]
New grant opportunities have been announced by the Government. The new grants will help farmers boost their businesses and add extra value to their produce. The ‘Adding Value’ grant opened for applications on 9th June 2022 and will close on 21st July 2022. The funding available will be offered in sums between £25,000 and £300,000.
As a new business, there are a number of rules you must follow when you start to employ staff. When to register for PAYE is a question we often get asked. HMRC advise that you should register for PAYE as an employer before the first payday and this process must also be completed by directors
There are many reasons to encourage the use of electric cars such as lower running costs, environmental advantages and reduced noise pollution. There are also tax benefits. The benefit-in-kind (BIK) due on company cars can be significantly reduced. This means that company car drivers who switch to an electric car should see their tax bill significantly reduced.
When you issue an invoice to your customer, you must ensure that you charge the correct rate of VAT. Whilst most businesses in the UK charge VAT at the standard rate of 20% there are a number of different VAT rates and exemptions that you should be aware of. As a VAT-registered business, you must charge VAT on
The general rule applies that there is no tax relief for the ordinary commute to work. The term ‘ordinary commuting’ is defined as the travel between a permanent workplace and home or any other place that is not a workplace. It has also been confirmed that travel between home and a permanent workplace is ordinary
There were a record number of fraudsters targeting taxpayers with scam emails, texts and calls in the run up to the deadline for submission of self-assessment returns for 2020-21. HMRC received more than 570,000 reports over the last year about suspicious HMRC contacts. You may have received a call too? The scams were telling taxpayers
Scammers are targeting self-assessment taxpayers Read More »
In the UK, there are regulatory filing requirements for company accounts. The Companies Act 2006 (CA 2006) requires that a company files its accounts and reports with the Registrar of Companies within certain time lines. Private companies must file within nine months of the end of their accounting reference period and Public companies must file
As bookkeepers, we carry out anti-money laundering checks to all new clients that we provide support to ensuring our clients are not attempting to launder money through their business. An anti-money laundering check is a vital component of ensuring our clients are not attempting to launder money through their business. Anti-money laundering refers to a
The Coronavirus Statutory Sick Pay Rebate Scheme was brought back in mid-January with firms becoming eligible to make back dated claims under the scheme from the 21st December 2021. The scheme allowed small and medium-sized businesses and employers reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The scheme covered up to two
Coronavirus Statutory Sick Pay Rebate Scheme Closing Soon Read More »