Category: News

Should your business register for VAT before you need to?

Is it time for your business to register for VAT? In the UK, if your VAT taxable turnover exceeds the current threshold of £85,000, you are legally required to pay VAT. However, there are a number of small businesses with a turnover of less than the VAT registration threshold that opt on a voluntary basis…

What are the top 5 cryptocurrencies for beginners?

Everyone wants cryptocurrency these days. And, in recent years, more people than ever before are investing in cryptocurrencies and enjoying a healthy return on investment as a result. But what is cryptocurrency and what are the best cryptocurrencies for beginners? What is cryptocurrency? A cryptocurrency is a digital or virtual currency that is secured by…

Spring statement 2022 – everything you need to know

Rishi Sunak, the Chancellor of the Exchequer since 2020, has recently delivered his highly anticipated mini budget as part of his Spring Statement 2022. But what did Sunak’s Spring statement look like? And what does it mean for us all? We’ve rounded up some of the key points highlighted and how Rishi Sunak’s changes on…

Xero accounting services – everything you need to know

Xero Online Accounting | 3 minute read Today, the vast majority of businesses manage their accounts using sophisticated online accounting software in order to make managing their finances a whole lot easier. Helping businesses of all shapes and sizes to  streamline their processes, access real-time insights, and reduce costs, there’s a whole host of benefits…

Guide to cryptocurrency capital gains

Guide to cryptocurrency capital gains | 3 minute read Also known as crypto-currency or crypto, cryptocurrency is any form of currency that exists digitally or virtually and uses cryptography to makes it nearly impossible to counterfeit or double-spend. And, people use cryptocurrency for a vast range of different reasons including quick payments, anonymity, and avoiding…

What is reconciliation in accounting?

It’s important that businesses of all shapes and sizes keep a tight hold on their finances. This includes ensuring that all accounts are recorded accurately and on time. After all, it’s crucial that all businesses always know where they stand financially and of course, meet all tax obligations. Reconciliation is an accounting process which many…

How to sell a limited company

People decide to sell their limited company for a whole host of different reasons. If  you’re thinking about selling your limited company, it’s important that you understand the processes involved in. After all, your ultimate goal is to get the best possible price for your business, with the least amount of hassle, right? First and…

What is a Companies House Confirmation statement?

The Companies House Confirmation statement is a document that all limited companies and LLPs must file at Companies House each year. This confirmation statement, which has an annual filing fee, is designed to give Companies House a yearly snapshot of the management and ownership of your business and it’s vital that this information is kept…

Everything you need to know about paying tax on dividends in 2022/23

Paying tax on dividends in 2022/23 | 4 minute read If you are both a director and a shareholder of a Limited company, one of the most tax-efficient way of earning an income is to pay yourself through a combination of salary and dividends. However, if you do not understand dividend payments or how much…

What are the tax return penalties?

If you are self-employed, a director or partner in a business, or you are the trustee of an estate, you will need to complete a self-assessment tax return and ensure that you pay it on time. Your tax return should be completed by the 31st January 2022. You may also need to complete a tax…

Do I have to file a self-assessment tax return?

Do I have to file a self-assessment tax return? | 3 minute read  Whether you are self-employed as a sole trader and earned more than £1000 or you are a partner in a business, you must file a tax return to HMRC. A self-assessment form is a different type of tax, which is designed to…

5 start up accountancy tips for 2022

5 start up accountancy tips for 2022 | 3 minute read The New Year is the perfect time to seize new opportunities, follow your dreams and start your own business. In the past two years, thousands of entrepreneurs have already taken a giant leap of faith and began their start up journey. And, although launching…