Accounting Insights

Outsourcing accounting is when you pay an external accountant or accounting firm to manage your accounts for you, rather than employ an accountant on your own payroll or...

New research has shown that chasing payments are a big problem for small businesses within the UK. Three out of every five (60%) invoices issued by UK-based small...

Running payroll is an essential part of any business, as it involves paying employees for their work and ensuring that they receive the correct amount of compensation. However...

From 1 April 2023, the corporation tax main rate will increase to 25% for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also...

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry...

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 businesses should be...

MTD for landlords will require the landlord to register, file, pay and update their information using an online tax account.  The introduction of MTD for Income Tax Self-Assessment...

The VAT reverse charge accounting mechanism was put in place to help prevent criminal attacks on the UK VAT system by means of sophisticated fraud. UK businesses receiving...

2016 was the first-time dividends tax allowance was introduced and it replaced the old dividend tax credit with an annual £5,000 dividend allowance. Tax was payable on dividends...

When running your business, you must ensure you are paying your staff the new National Minimum Wage (NMW) and National Living Wage (NLW) rates for the period 1...

On Friday 23rd September, Chancellor Kwasi Kwarteng MP, shared the Conservative Government’s mini budget plans in the House of Commons, stating: People need to know help is coming and...

Employment allowance is used to reduce an employer’s NIC liability. You can only claim against your employers’ Class 1 National Insurance liability up to a maximum of £5,000...