What are the different VAT accounting schemes?

What are the different VAT accounting schemes?

And which one is the right one for your business? Just about everyone has heard of VAT (value-added tax). We’re used to paying it on many of the goods and services we purchase as we go about our everyday lives. But when you have your own business, you’ll learn a whole...
How do changes to NICs affect you?

How do changes to NICs affect you?

How do changes to NICs affect you? Spring Statement changes come into effect. As you may have heard, there are changes happening to National Insurance contributions (NICs). From 6 July, the new thresholds will come into effect. But what does that mean for you? As a...
How HMRC conducts tax investigations

How HMRC conducts tax investigations

How to reduce penalties for accounting errors. HMRC recently announced new powers to investigate companies they suspect of evading taxes, so as a business owner, you might be worrying about what happens if your company comes under scrutiny. Even if you’ve played...
The tax benefit for innovative companies

The tax benefit for innovative companies

The lowdown on this relief for innovation. Research and development (R&D) tax credits were once a little-known tax incentive for companies which invested in innovation. But after rule changes in recent years, and a push by many tax advisers, they are now much more...
A new approach to staff benefits

A new approach to staff benefits

Balancing tax perks with desirability. Like most business owners, you have probably experienced the squeeze in recruitment and retention that has been prevalent for the last 12 months or so. It’s been so significant, it has even been dubbed “The Great Resignation”....
Cryptoassets: how are they taxed in 2022?

Cryptoassets: how are they taxed in 2022?

HMRC’s evolving approach towards taxing crypto. Cryptocurrencies continue to become more mainstream, and the taxman’s very aware of the gains investors have made in the last five or six years.  Back in 2009, investors could snap up one Bitcoin for $1. Fast forward to...