Do you have a small business, or are you self employed, sat around, wondering whether or not you need an accountant? It may appear to be a straightforward question, but the answer may not be as straight forward. An accountant provides you with financial solutions. They can save you money and ultimately, they can make […]
Hearing the words ‘HMRC tax enquiry’ may seem daunting, but there’s no need to panic. It doesn’t mean that anyone suspects you of any wrong-doing; they are merely checking that the information on your tax return is correct. There is also a possibility that you have been randomly selected to have your tax return checked
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When starting up a business, you will, without a doubt, have many questions. One of which may be about your banking situation. Should you open a business account, or stick to your personal one? Although business accounts do come with some charges, it may be worth looking into. Trading as a limited company If you
Starting a new business or starting as self-employed is an exciting time, but it can also be very stressful, and you may have several questions. One thing that many people struggle with is how to price their services. It all depends on what your trade is, what service you are offering, and of course, how
When registering yourself or your business with HMRC, it’s essential that you do it correctly. If you register yourself incorrectly, you may find yourself in bother, and more importantly, you could end up with a sizeable bill to pay. When Do I Need to Register? If you are going to be trading through a limited
With the drastic increase in phone scams throughout the UK, HM Revenue and Customs (HMRC) have begun using new control measures, putting a stop to fraudsters copying and using some of the tax authority’s well-known helpline numbers. Successful Scamming Victims have reported receiving phone calls (mainly from 0300 numbers) claiming to be a legitimate call
Do you run a small business? Perhaps you are an independent contractor or a freelancer working from home? If so, it’s essential to know where you can save money and also what percentage of costs you are entitled to claim back. Individual savings may seem relatively low and somewhat pointless until you add them up
With the new 2019 tax year having just begun, there are a few main changes that you should be aware of. The main changes are to the following: · Tax and allowances · Company car, van and fuel benefits · Student loans · Personal tax relief and benefits · Workplace pensions Tax and Allowances Personal
All employees are entitled to a payslip. Payslips can be in paper format, be emailed or accessed through a website. How payslips look can vary from employer to employer, but the following information must be included: Gross pay – the employee’s earnings before any deductions Net pay – the employee’s earning after deductions (this is
Keeping records to support tax or VAT returns is a legal requirement in the UK. To ensure you are paying the correct amount of tax, HMRC will need to see a record of your figures each tax year. Failure to supply accurate records could result in legal action. Benefits of Good Record Keeping Keeping track
