Is HMRC fair? How to navigate the UK tax system as an SME We’ve said it before, but there are only two guarantees in life: death and taxes. Tax is a necessary evil, but that doesn’t mean the system is perfect. It supplies the country with the money it needs to run. But some feel [...]
Scheme Extensions & the Job Support Scheme Rishi Sunak announced a new scheme which is to follow on from the current furlough scheme which is due to end in October. He has also made announcements on other support schemes that have been put in place/extended. The Job Support Scheme This scheme begins on 1st November [...]
Where do our taxes go? They say only two things are guaranteed in life: death and taxes. Today, we’re going to focus on the latter. As a business owner, there is a wealth of taxes that you need to pay. But what do they go towards? We all know that our taxes go to the [...]
Starting PAYE for new employees We hire employees from all walks of life in our small business. That way, we pack our workforce with views, opinions, and creativity inspired by varied experiences. But when an employee arrives without a P45, you must get them to complete a starter checklist so you can get the relevant [...]
Why your reasons for sticking with your bad accountant aren’t good for business January is as good a time as any to re-evaluate your accountant. It’s the time of year most people do. Whatever your reason may be - whether they’ve been slacking recently or have made too many mistakes for your liking - you’re [...]
When your accountant makes mistakes, who is liable? January is when most people leave their accountants. It’s because they realise their accountants have failed to complete their tax returns as soon as possible or haven’t notified them of a large, looming tax bill they have to pay in a few weeks. This can lead to [...]
So, you think you’re paying too much tax through PAYE? Paying our taxes means we contribute to keeping our institutions and infrastructure running. The money we pay in income tax and National Insurance contributions goes towards funding vital services like the NHS, the police, education, the welfare system, and public projects like roads, rail, and [...]
Changes to PAYE in 2019 Making sure you stick to PAYE tax procedures is incredibly important if you own a business. This means staying up to date with any changes in the system. PAYE tax can already be a stress point without you having to worry about missing new rules and finding yourself with hefty [...]
Don’t get left behind by your accountant We always put emphasis on making sure your tax returns are filed on time and accurately. But what happens when you hire someone to do exactly that and they don’t deliver? Sadly, this is the case for many businesses every year who find out that their accountant has [...]
Should you register your business for VAT? Many business owners often misunderstand VAT. While some are obliged to register for VAT, others can choose to do so of their own accord. So, why might registering for VAT be a good idea, and when should you register? What is VAT? Let’s briefly discuss what VAT is, [...]