Have you declared your Airbnb income to HMRC?

5th October 2020

Have you told HMRC about your Airbnb income? Made sure it’s on your personal tax return? If not, then the 2019 Airbnb accounts that have been filed with Companies House and HMRC include an interesting line that you should probably take note of. The company is going to share data with HMRC about the earnings […] Read More

Time to ditch the spreadsheets for Xero?

Interesting news on the COVID front today.  Apparently the UK grossly understated the number of recent new cases due to a spreadsheet error. Now I don’t know exactly what the spreadsheet error was, but the fact that it happened isn’t exactly surprising.  I’m sure we’ve all experienced it over the years – a formula isn’t […] Read More

New Job Support Scheme – Furlough Replacement

25th September 2020

Chancellor Rishi Sunak has announced the government’s plan to protect jobs and support businesses in the coming months. Key parts of the announced Winter Economy Plan include: a new Job Support Scheme, extension of Self Employment Income Support Scheme, an extension of the VAT cut for hospitality and tourism sectors, and help for more than […] Read More

8 Common Mistakes Companies Make When Doing Payroll

The 8 Common Mistakes Companies Make When Doing Payroll

18th September 2020

The monthly payroll is something that most businesses have to do, and it’s important to get it right. There is a lot to know about payroll, and small mistakes made by someone in the payroll department could lead to underpaying or overpaying employees or failing to meet the regulations – which could lead to fines. […] Read More

Small-Business-Guide-to-Profit-Loss-Accounts

The Small Business Guide to Profit and Loss Accounts

19th August 2020

Businesses must prepare several annual accounts every year. One of these is your balance sheet, which shows what you owe and what is owed to you, and another is your profit and loss account. In this guide, we’ll be looking at the profit and loss account to provide you with a better idea of everything […] Read More

How Does VAT Work in the UK?

How Does VAT Work in the UK?

22nd July 2020

Whether you’re planning to start a business or your business is growing rapidly, it’s important to know about your VAT obligations. In this guide, we’ll cover everything you need to know about VAT to get you started. What Is VAT? VAT stands for Value Added Tax, and it’s one of the many taxes that businesses […] Read More

How Much Does An Accountant Cost?

3rd July 2020

This is an important question for your business, and we're happy to answer it - with real numbers, not just general thoughts. Read More

How-to-Protect-Yourself-From-Self-Assessment--Scams-01

How to Protect Yourself From Self-Assessment Scams

26th June 2020

Preparing your self-assessment tax returns can be a stressful process and is one of life’s necessary evils. Having done all that work to get your finances in order though, only to get scammed out of your hard-earned money, can be downright devastating. The unfortunate reality is that there are plenty of opportunists looking to prey […] Read More

First Steps with Xero – Get Started Right Now!

8th June 2020

We’ve always made it clear that we think Xero is great.  And one of the things we do with our clients when they start with Xero is get everything set up and give them the training they need (see our packages here). If you’re making the journey alone for the moment, however, here’s our quick […] Read More

Paying a Subcontractor under CIS

Paying a Subcontractor under CIS

28th May 2020

Before you enlist the services of a subcontractor to help with your construction job, there are tax procedures that you need to have a good understanding of to avoid penalties. In this article, you’ll learn how the Construction Industry Scheme (CIS) works regarding the issue of paying subcontractors. Understanding CIS CIS traces its roots in […] Read More

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