We want to let all our clients know we are here to offer guidance and support throughout the coming weeks/months and please do not hesitate to contact us. Our offices are currently closed to the public but we are still…
Guidance regarding Coronavirus (COVID-19)
With details changing daily below are links for some key Government and other websites where you can access the latest information: Government action plan: https://www.gov.uk/government/publications/coronavirus-action-plan Guidance on social distancing and staying at home: https://www.gov.uk/government/topical-events/coronavirus-covid-19-uk-government-response Support for businesses: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses Tax helpline…
Why should I use accounting software for my business?
“Accounting software” covers a vast range of products with varying degrees of sophistication and functionality. What is suitable for one business may not be suitable for another. Whilst throwing all receipts into a bag and listing and summarising them many…
Challenger banks, what are they?
There have been significant developments in Financial Technology products (FinTech) in recent years. There have been numerous mobile only challenger banks launched which offers a competitive alternative to the main UK high street banks. Opening an account with a high…
Donating to charity
Gift Aid Anyone signing up when making a charity donation will be asked to complete the “Gift Aid Declaration” box. In doing so, the donor must confirm they are a UK taxpayer. This can benefit the charity significantly as, for every…
Are you still doing manual invoice data entry?
Whilst entering all purchase invoices into the accounting software is necessary, there are several downsides to this process. It is labour intensive – many invoices these days arrive in an electronic format – as a PDF attached to an email…
What is a director’s loan account?
If you are trading through a limited company, the chances are that there will be a director’s loan account with the business. It is a record of how much money you have lent to your company (which is owed back…
“Casual Labour” – despite what the man down the pub says – it cannot be done!
When you employ casual workers, even for a short period, you need to be careful with their pay. Get it wrong and you could end up footing the tax and NI you should have deducted. HMRC used to be reasonably…
Business Mileage claims (and VAT)
Business mileage claims are often processed incorrectly. Fuel may have been passed through the company records, ostensibly for business use. However, the “correct” way is to claim a mileage allowance. This is at a rate of 45p per mile (if…
