Auto Enrolment
Auto Enrolment It is now law that as an employer you have legal obligation to offer a workplace pension to all employees and any new starters in the future although as this has been law for a few years already most existing employees have already been enrolled in the pension. As an employer you also…
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Management Accounts
What the successful businesses do All successful businesses know you need to have your finger on the pulse for making the right decisions. That means having access to the most up-to-date numbers for your business. And not just having access to those numbers, but also fully understanding them and how to use them to guide…
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Scottish Tax Payers
However, it will freeze the higher and additional rates so that there is increasing divergence between Scottish and rest of UK taxpayers. The Scottish Budget was delayed from December after the UK general election was called and had to be held before the UK Budget on March 11 due to legal requirements to set council…
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The Value of A Cashflow Forecast
An all too common story Have you ever experienced that moment when you realise there isn’t enough cash to meet the wages bill at the end of the month? Have you ever had that unexpected phone call from your bank manager to say you’ve exceeded your borrowing limits? Have you ever looked at your year-end…
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Bookkeeping Software
Every business has the responsibility of keeping accurate accounting records to judge the performance and profitability of their business. There may be external organisations that also need look at these and one of them is HM Revenue & Customs should they decide to look into your or the company tax returns. Having accurate and good…
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Capital Gains Tax Planning
Selling something you own for more than you bought it for is not only the basis of making a profit and doing ‘good business’; it is also the start of your liability for capital gains tax (CGT). In its broadest terms, CGT is a tax that applies when you dispose of an asset (meaning selling…
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When is a Hairdresser not an Employee
When a hairdressing salon uses subcontractors within their salon, they should ensure the following so it is crystal clear that they are not classed as an employee as tax and national insurance implications are at stake: Maintenance of their own books and accounting records. Being responsible for their own tax affairs and health and safety…
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Ways to get Your Accountancy Fee’s Down
Why Should I Get My Tax Return Prepared Early One of the questions that I often get asked is why I should get my tax return done early I will get it done in December or January and make them wait. HM Revenue & Customs issues a notice to complete a tax return for individuals…
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VAT an Overview
Value Added Tax (VAT) VAT is a tax on sales and has nothing to do with profit. The current registration limit is £85,000 so once your sales reach £83,000 the last 12 months you must register for VAT immediately. This can be done by downloading the form from HM Revenue & Customs website or completing…
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VAT Surcharges
When a business is VAT registered it will have to submit VAT return normally once a quarter and pay over the VAT that is owed by the end of the following month, there is a little longer to pay this over if you pay by direct debit. Surcharges Should you not submit you VAT return…
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