Entries by admin

Paying your self assessment tax bill

Self assessment tax liabilities can be paid by various methods including: by debit or credit card online transfers from your bank account by Faster Payments, CHAPS or BACS at your bank or building society branch, under some circumstances via direct debit via a budget payment plan by cheque through the post through your tax code. […]

How do you view your accountant?

Clients often don’t see their accountant as someone who can help take their business forward.   We are often viewed at the numbers person who does the stuff that needs to be done, but which the business owner is not really interested in.  As a result we are seen as an expensive necessary evil.  We like […]

Fancy giving or receiving a discount for cash?

DON’T DO IT.  “Why not?”, you ask.  Read on …. Do you know about the Criminal Finances Act 2017?  Probably not – 76% of UK businesses are unaware of the new measures.  Maybe you think it doesn’t affect you because you are very honest and have absolutely no intention of defrauding anyone.  Don’t be fooled […]

The Budget March 2017

The chancellor caused quite a stir by raising Class 4 national insurance for the self employed.  But that is of course, not the only change he made and the points likely to be of interest to you are included in our Guide to the Budget 2017 which you can download for free.  If you operate through a […]

The Autumn Statement

Highlights Corporation tax will fall to 17% by 2020. The tax and national insurance advantages of salary sacrifice schemes will be removed from April 2017 except for arrangements relating to pensions, childcare, cycle to work scheme and ultra-low emission cars.  Arrangements in place before 5 April 2017 will be protected until April 2018. Starting threshold […]

Omitting low-cost expenses adds up to £239 million a year

According to a study from software provider ‘FreeAgent’, small businesses across the UK are losing out on a collective £239 million each year by failing to submit expense claims of less that £10.  Using a sample of 2.5 million expenses submitted by its customers, ‘FreeAgent’ found the average micro-business owner had around £216 worth of […]

Digital Tax Concerns

‘ICAEW’ carried out a recent survey in March 2016 in which it was discovered that a lot of firms in the UK are not ready for the changes to the tax system in which they will have to keep digital tax records by 2020. A warning has been issued by the ‘ICAEW’ that a very […]

British Accountancy Awards

No we didn’t win an award, but Xero did.  From a shortlist of 10, Xero won the award for Client Software Product of the Year.  This is the industry telling us that Xero is a great product for our clients to use.  It beat the likes of Sage and Quickbooks Online, as well as some […]

One third of businesses overwhelmed by admin

Over 600,000 British micro-businesses admit to missing their tax return deadlines and a third to being overwhelmed by the burden and complexities of accounting. The research, conducted by YouGov, suggests that poor organisation and inadequate systems may be one of the key reasons for accounting anxiety, as one in five (20%) micro-business owners confess that their […]

Making Tax Digital

Making Tax Digital – MTD for short- has been in the news a lot in 2017, but just in case you missed it.  Here is an overview. The original finance bill was cut down from 742 pages to a just 140 and MTD went from potentially revolutionising the UK tax system to being on the […]