Preparing for your Accountant

Whether we are producing your accounts or carrying out your annual audit, being prepared for us will ensure our work is carried out smoothly and efficiently and with the minimum disruption to yourselves. You may also be able to help by preparing some of the routine schedules for us. This will mean our time can […]

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Personal Tax – Self Assessment

Under the self assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. The self assessment cycle Tax returns are issued shortly after the end of the fiscal year. The fiscal year runs from 6 April to the following 5 April (thanks to […]

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Making Tax Digital !

You may have heard of this latest new initiative from HMRC sometimes referred to simply as MTD – here we look at what this is and how it will impact you and your business. […]

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Avoid these common business mistakes

Starting a business can be a dream come true and very exciting! There are however, many areas you will suddenly need to be involved in which may not be your core area of interest or expertise. Knowing when to delegate and outsource could save your business and your sanity. […]

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Get control of your business – accounting software in the cloud!

So you may have heard the headlines in the recent budget about the death of tax returns. Don’t start celebrating just yet – this target has a deadline of 2020 and crucially relies on businesses and tax payers moving to online accounting software. Sounds like a big step ? Over a third of our existing client […]

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That’s entertainment !

What is entertainment? Business entertainment includes hospitality which is provided free of charge to the recipient. In general, no form of business entertainment is allowable for tax purposes regardless of whether you personally think there is a purpose specifically related to your business UNLESS you are entertaining employees for the purpose of reward and motivation. […]

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Using the cash basis to prepare your tax return – coming soon!

Preparing your accounts for income tax purposes – the cash basis You may have heard that the Government has been considering whether to allow some small businesses to compute taxable profits for the purposes of income tax on a cash basis rather than the usual accruals basis. The Finance Act 2013 now allows this option. […]

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High Income Benefit Charge

With effect from January 2013, those receiving child benefit and with net adjusted income of £50k or more will be taxed such that all the benefit is reduced to zero at £60k. […]

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Selling on Ebay ? – Is it a hobby or a business?

HMRC do monitor ebay shops for traders who have failed to register their business with them. When you start a business, you need to register with HMRC within 3 months – see our reference page and useful numbers for the telephone number to do this. There is a big difference in selling unwanted personal items and selling as a […]

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