Tax bills can be an awful surprise at the end of every year, particularly if you typically earn over the threshold for your tax-free allowance. Whether you’re an employee or you’re self-employed, taxes are often the bane of your year. On the off chance that you don’t prepare for your taxes, you may find yourself […]
If you’re self-employed and working from home, you’re likely extremely aware of self-assessment tax returns. Many self-employed individuals feel that they do not fully understand the extent of the claims that they can make for their business – claims that are taken off their overall taxable amount and could mean that they pay less tax […]
One of the most popular business models comes in the form of the limited company. A limited company is a company where the owners are legally responsible for any of its debts to the extent of the amount of capital that they have invested into the company. There are many advantages to becoming a limited […]
It’s March, and you know what that means! No, we’re not talking about the constantly evolving Brexit (which seems to be in a bit of Schrodinger situation right now, where it both is and isn’t happening in a few weeks). No, we’re talking about Making Tax Digital of course! After many years of discussion and […]
Choosing an accountant is essentially like choosing a business partner who will be with you for an extremely long time. They are someone that you should be able to trust and depend on, no matter how easy or dire the situation may be. As your business grows in size, your accountant should be there to […]
It’s the 31st of January, you know that your self-assessment tax return is due today, but it’s not finished yet and the panic is starting to set in a little bit. But fear not! Here are some last-minute tips for getting your tax return in on-time, to help you avoid any repercussions that may come […]
Sorting out the tax for your business isn’t always the most interesting and fun of tasks, but it’s still an incredibly important and necessary task. And the thing about tax is that you can make things a little easier for yourself simply by taking the time to plan what you need to do, prepare for […]
For anyone looking to keep a proper account of their business, whether you own your own company or you’re a new freelancer who wants to keep their business finances separate from their personal finances, it’s important that you understand at least the basics of sole trader accounting. As a sole trader who works for themselves, […]
When it comes to running a small business, there are a lot of plates to keep spinning. Between trying to manage expenses, prospect for new customers and actually doing the work, it can be difficult to keep it all straight and working correctly. And it only gets more complicated when you add payroll into the […]
Over the last few years, HMRC has gone through a lot of changes. Most notably, they have embraced the digital world, bringing in new schemes designed to transform the way businesses manage and submit their tax information. It’s supposed to be more effective, efficient and easier for taxpayers to use. The first of these major […]