Did you know that some businesses or self-employed people may be eligible to receive support with when and how they pay their tax through HMRC’s Time To Pay service. An online payment plan for Self-Assessment tax bills can be used to set up instalment arrangements for paying tax liabilities up to £30,000. Taxpayers that qualify for […]
Completing a self-assessment return can be for a number of reasons such as you are self-employed, a company director, have an annual income over £100,000 or have an income from savings, investments or property. Individuals that need to complete a self-assessment return for the first time should inform HMRC as soon as possible. The latest
We prepare many year-end accounts for our clients and there are a number of administration and financial tasks that need to be done before we can help. It’s best to start planning for this as soon as possible. We want to make sure that your year-end accounts process is as hassle-free as possible for the
If you are a sole trader, you run your own business and you are known as self-employed by HMRC. As a sole trader, you are responsible for any losses your business makes, however you can keep all your business’s profits after you have paid tax on them. The first step to becoming a sole trader
The Prime Minister recently announced a 1.25% increase to National Insurance from April 2022. Here we explain what this change in rates means for small businesses and the self-employed. Speaking at the beginning of September, Boris Johnson announced plans to increase National Insurance in April 2022. The increase of 1.25% is designed to fund the
Managing invoicing in a small business is very important and should see this this as part of essential operations. Managing invoicing is a serious operation as it ensures customers pay more promptly. Businesses with poor invoicing practices often have poor cash flow and customers don’t have any reason to pay on time. Managing invoicing can
Keeping records for your tax returns is so important for both small businesses and the self-employed. If you keep your records for your tax returns in an organised manner then it will be easier for your accountant, us and HMRC. We always advise any new company to keep on the right track by keeping good
Bookkeeping for farmers, agriculture and rural businesses is a very specialist area and requires expertise and knowledge of the industry. Samantha has over 20 years management accounts experience in various industries including agriculture and has managed farm accounts in both the husbandry and arable sectors. If you are a farmer or work in the agriculture
If you are a small business owner then you probably think that hiring a payroll expert will be too expensive. You feel that you can handle this job yourself and you are probably right however here are 3 good reasons why you should outsource your payroll. You waste valuable time If you are not experienced
Are you a small business, wondering if you need bookkeeping services? Many small business owners pride themselves on doing everything themselves. This is resourceful and can minimise costs when you first start up your business however as your business grows so does your responsibilities. Within a short amount of time a ‘do-it-yourself’ approach can become