Financial accounts for small companies – time to choose
In recent years many companies have been preparing and filing ‘small company accounts’ under a Financial Reporting Standard for Small Entities (FRSSE).
2017/18 Tax Calendar
A summary of important tax-related dates for your business from April 2017 to 2018. For further clarification on any dates please don't hesitate to contact us.
New VAT Flat Rate Scheme
What it is From 1 April 2017 many businesses who use the VAT flat rate scheme (FRS) are going to see an increase in the Flat Rate % they apply to calculate amounts due to HMRC. Businesses subject to the new rate are those that have ‘limited costs’. The definition [...]
Spring Budget 2017
Final Spring Budget sets the stage for ‘Britain’s global future’ Chancellor Philip Hammond presented his first – and last – Spring Budget to the House of Commons in belligerent form. Despite revealing upgraded forecasts from the Office for Budget Responsibility, the Chancellor announced that he would adhere to the government’s [...]
Autumn Statement 2016 More Information
Chancellor pledges post-Brexit economy ‘that works for everyone’ The new Chancellor of the Exchequer, Philip Hammond, acknowledged ‘sharp challenges ahead’ for the economy as he presented his first major fiscal statement, exactly five months after the UK’s historic vote to leave the European Union. The latest forecasts from the Office [...]
Own a buy to let? This is what you need to know about tax
Landlords have faced significant changes to the tax system in the last few years so it has never been more important to ensure that all expenses and reliefs available are utilised as far as possible. There are still a number of ways to legitimately reduce the tax liability but care [...]
Is the Closer Alignment of Income Tax and National Insurance a Realistic Idea?
The Office for Tax Simplification (OTS) have been looking at this topic and with further reviews proposed it looks like the government are keen to progress this issue. Differences between income tax and NICs have been identified, by the OTS, as one of the top causes of complexity for small [...]
So Why Can’t My Company Get a Tax Deduction for a Parking Fine?
Your business makes lots of deliveries by van to clients and quite often drivers have to park on double yellow lines as there is no available parking nearby. The result is quite a lot of Penalty Charge Notices (PCNs) issued by the local authority or the police. Your drivers are [...]
Four reasons to add social media to your marketing plan
The use of social media in businesses has rocketed over the last few years as it is a great way to communicate with a wide audience. If you’re not an active user you could be missing out on vital chances to communicate with your clients. The easy way to reach [...]
Is Research and Development tax relief available?
Research and Development (R&D) tax relief can provide additional tax deductions and enhanced cash flow for companies. HMRC have introduced ‘Advance Assurance’ which enables small companies to confirm their entitlement to R&D tax relief. R&D tax relief can allow a company to claim an additional corporation tax reduction of 26% [...]