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Avi is a small limited company business owner reaching his end of year and had a couple of questions on his end of year accounts. He is worried that he may be paying too much corporation tax. 1) What ways can you reduce a company's corporate tax apart from giving out...
Andrew is a small limited company business owner who is struggling to make sense of accounting for stock. He has heard that stock can be calculated from his GP (Gross Profit) Margin but he doesn't know how to to do that and has asked for our help. How to...
After decades of contributing to a defined contribution pension and watching it grow, there comes a point when an individual’s working life ends and their retirement begins. Your pensions & savings are likely to be the primary financial tool that you have to...
A guide to the tax relief available to innovative SMEs. Research and development (R&D) tax relief for small companies provides an enhanced deduction for the costs of qualifying R&D projects. R&D tax relief for large companies is given as an expenditure...
Expenses and benefits deadline looms
Employers back employment law rights
Firms plan to offset rising costs
Staff fear working beyond 65
A guide to capital gains tax and the reliefs available for 2017/18. When you buy an item with the intention of selling it for a profit, that transaction is treated as a trade and you should pay income tax on the profit you make on the sale. When you acquire an asset...
Once you are registered for VAT what changes do you need to make to your bookkeeping process? What does this mean for your customers? And what do you need to think about when preparing your first VAT return?
Whether you are newly registered for VAT or you have been registered for a while – be aware of these 9 common VAT pitfalls. These are the most frequent errors we see when we are reviewing small business VAT returns.
Updated 09/03/2024 You are legally obliged to register for VAT when your business ‘taxable supplies’ within a rolling 12 month period exceeds the VAT threshold. As of 1st April 2016, the VAT threshold was £83,000. This increased to £85,000 from 1st April 2017 and...
A director has statutory duties under the Companies Act 2006 and these duties are owed to the company which is a separate legal entity in its own right, rather than the shareholders. General duties under The Companies Act 2006 The Companies Act 2006 sets out 7 general...