Whether you’ve been running your business for a while, or are a new business owner, one thing we all have in common is that we want to be as tax efficient as possible whilst staying on top of our tax affairs. There are a number of ways to ensure you […]
If you are planning on starting a new business or becoming self-employed, it’s worth spending some time deciding on which method of accounting you are going to use to manage your business’s finances. There are two main types of accounting, Traditional Accounting and Cash Basis Accounting. Read on for more […]
Making Tax Digital (MTD) is part of the government’s plan to make it easier for businesses and the self-employed to get their tax right the first time, avoid errors and fines, and to stay on top of their accounts. This modern, digital service will also help to reduce the amount […]
Accounting errors happen, and it can be easy to make mistakes as a small business owner when you are doing your own accounting alongside running your business. Unfortunately, accounting mistakes can often be time consuming to correct, and can sometimes result in fines from HMRC if they are not identified […]
Back in 2019, the government announced the introduction of new legislation for all off-payroll workers (contractors) known as IR35. This new legislation was due to come into effect in April 2020, however due to the impacts of the Covid-19 pandemic, the changes were postponed to 2021 and are now in […]
In the 2021 Budget at the beginning of March, Chancellor Rishi Sunak announced details of the fourth grant in the self-employment income support scheme (SEISS). The SEISS grant is aimed at helping self-employed people whose business and income has been affected by the Covid-19 pandemic and the fourth grant will cover the […]
