Tag: accountancy

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…

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…

Reasons you should hire a small business accountant in 2022

Thinking of hiring a small business accountant in 2022? Read on. Running a small business can be incredibly challenging, especially when it comes to getting your business of the ground, maximising exposure, gaining funding to grow and ensuring that you do not overspend during those early days. And, from the moment you set up your…

Choosing the right accountant for your small business

Choosing the right accountant for your small business An accountant plays a vital role in the running of any small business, helping to prepare accounts and tax returns, managing payroll, and ensuring that the business stays up to date with tax deadlines. So, if you’re thinking about hiring an accountant for your small business or…

VAT Return

Our guide to completing a VAT return

As soon as you reach the VAT threshold, which is currently £85,000, you will be expected to pay VAT on all taxable sales. However, you may also be entitled to claim back VAT that has been charged on business purchases. As part of this process, you will also need to submit a VAT return to…

Why should your small business be using Xero?

Xero is a cloud accounting software tool used by over two million people worldwide. Designed to meet the accounting needs of small and growing businesses, Xero has revolutionised cloud accounting, making it easier and simpler for small businesses to manage their finances. But why is it so popular? And why should your small business be…

Are entertainment expenses tax deductible?

The world of business is not confined to one place. And it’s not uncommon for clients to want to connect with or thank their colleagues or clients outside of the office. For many businesses, entertaining clients and customers is part and parcel of their marketing strategy. So it’s common practice for companies of all shapes…

What to do about deferred VAT payments – everything you need to know.

Back March 2020, when Covid first locked down the UK, HMRC announced that they would allow business owners to defer VAT payments due between 20 March 2020 and 30 June 2020 to 31 March 2021, helping struggling businesses during the pandemic. This came as welcomed news to many businesses operating across a diverse range of…

How to get your accounts in order for the New Year

We are fast approaching the end of the year and I think for the vast majority of us, we will all be pleased to see the back of 2020, right? And as we look ahead to a new year, now is the perfect time to start thinking about getting your accounts in order for a…

Covid 19 – What is happening to the furlough scheme?

The UK Government’s furlough scheme was first introduced in March 2020, in a bid to prevent mass redundancies as Coronavirus gripped the UK. Subsidising the wages of people who can’t do their jobs due to Covid-19 restrictions, or due to the fact that there simply isn’t enough work available, the furlough scheme has already been…

How to start a limited company

  If you’re about to begin a new business venture, setting up a limited company is one of the most tax-efficient and smartest ways to run your company. A limited company is a business structure that has been incorporated at Companies House as a legal ‘person’. But what does this mean? This basically means that…