Small and micro businesses are integral to the UK's economy. In 2018, there were 5.4mn UK micro businesses, which was a total of 96% of all UK business organisations. A micro business employs between zero and nine workers. Though that might not sound like a...
Planning for VAT can be difficult for any business. This is a complex tax which is currently being revolutionised due to the UK government's Making Tax Digital initiative. It's quite possible for business organisations to under or overpay VAT, and this can cause problems. Any...
If you run your own payroll system, you need to be aware of all relevant legislation coming into effect in 2019. One of the most important income tax changes which will impact all your workers is the increase to personal allowances which takes effect from...
With more and more businesses performing nearly all of their tasks digitally, it makes sense that instances of cybercrime are on the rise. However, though this is the case, latest research has discovered that barely half of SMEs in the UK are actually well-versed in...
The Christmas season is here again and there's no better time to treat your staff and customers. You may, however, be concerned about the costs involved in throwing a Christmas party. However, if you follow HMRC’s rules and regulations, you may get be eligible for...
Taxation, in general, can be a minefield for the inexperienced. Specifically, understanding VAT is something a lot of businesses struggle with. It makes sense, then, for you to contact a specialist for VAT advice. But with so many out there claiming to be experts, how...
Small businesses are the very backbone of the UK's economy. For example, in 2017 over 99% of businesses in the UK were small to mid sized companies (SMEs) with total employees of 249 or less. Although there is so much potential in the UK for success...
Tax inaccuracies and missed deadlines can lead to companies having a high price to pay. In this blog post, we take a look at HMRC tax penalties in further detail. Late tax returns One of the main reasons why people find themselves facing a fine is because...
All business owners have a number of different options available when it comes to paying themselves. It can be tricky to make the right decision, as you need to find the perfect balance between your needs and the needs of your business. One option is...
If your startup or existing small business is not making use of all available tax breaks, you could struggle to show profits. These tax saving tips for small businesses may offer the assistance you need: Tax saving tips The following simple tips may provide some help in...
With increasing numbers of services being offered through the cloud, and ever more businesses integrating themselves into this revolutionary technology, it is no surprise that accounting and accountancy have also discovered the benefits. Cutting edge accountancy firms are choosing to incorporate the cloud into their...
If your business is registered for VAT then one thing that will probably stress you out more than anything else is the prospect of HMRC coming to do a VAT inspection! However, this really shouldn't be the case. As long as your VAT accounts are...