In order to help you, we have prepared a list of article which contain useful information. Browse our guides below:
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Articles on VAT and how it may apply
VAT Annual Accounting Scheme
HMRC have introduced a number of VAT schemes over the years designed to reduce the administrative burden on small businesses. One such scheme is the
Group VAT Registration
VAT grouping occurs where two or more companies or limited liability partnerships are treated as a single taxable “person” for VAT purposes. A VAT group
VAT
VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them.
VAT Flat Rate Scheme
The flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT. Under the scheme a set percentage is
VAT Do’s and Don’ts
DO keep a monthly record of your turnover – late registration can result in severe penalties DO notify your local VAT office when major changes
VAT – How to Survive the Enforcement Powers
Although some of the penalties for VAT infringements have been less severe in recent years, there is still an alarming array of enforcement powers to
VAT – Bad Debt Relief
It is quite possible within the VAT system for a business to be in the position of having to pay over VAT to HMRC while
Recovering VAT on Staff Expenses
Although the VAT rules normally prevent you reclaiming VAT on supplies that are not made direct to you, there are certain circumstances when the rules
Business Management Articles
The Value of Outsourcing
Most business owner-managers find that they spend only a small percentage of their time on important strategic planning. A great deal of their effort is
Six steps to an effective business plan
If your business is running perfectly, wastes no money, is making maximum profit and dominates its market, then you can pat yourself on the back
Keeping an Eye on Your Cashflow
Cash is the lifeblood of a business, but with so much emphasis usually put on profitability, it can be easy to overlook this fact. Of
How to Increase your Profit
In business, your profits are your reward for your endeavours. In fact, profitability is one of the essential measures of a business’ success. Profits are
Expansion – is your business ready?
There are many situations where a business would benefit from expansion. Whether it is because of increased demand for a service or product, adapting to
Help for Business Startups
Using us as your Business Adviser
Viewing your accountant as a business adviser, not just as a professional trained in traditional accountancy and tax compliance services, could boost your company’s bottom
Running your Own Business
If you are thinking of running your own business, you should start by discussing your plans with an experienced accountancy firm that can give you
Preparing your Business Plan
Planning is: Taking prudent, calculated risks rather than blindly reacting to events Making the best use of available resources Setting a path to achieve the
Limited Liability Partnerships
Most important features of LLPs The key advantage of a LLP compared with a traditional partnership is that the members of the LLP (it is
Incorporation
The issue of whether to run your business as a company or a sole trader or partnership is an important one. In this factsheet, we
Forming a Limited Company
Although you can set up a company using your own resources, it is normally advisable to use a specialist formation agent. You first need to
An Introduction to the Tax System for the Self Employed
Registering with HM Revenue & Customs (HMRC) If you start working for yourself, you must register with HMRC by 5 October following the end of
Allowable Expenses
We are often asked: “What expenses can I claim now that I am self employed?”. The rather glib answer is “anything that relates to your
Savings & Investments
Venture Capital Trusts
Venture Capital Trusts (VCTs) are complementary to the Enterprise Investment Scheme (EIS), in that both are designed to encourage private individuals to invest in smaller
VCT, EIS and SEIS Compared
The reliefs for Venture Capital Trusts (VCT), the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) are similar in many respects, but there
Tax-Free Childcare
The government has introduced a tax incentive for childcare, Tax-Free Childcare (TFC). Overview Under TFC the tax relief available is 20% of the costs of
Seed Enterprise Investment Scheme
The Seed Enterprise Investment Scheme (SEIS) provides tax relief for individuals prepared to invest in new and growing companies. It is the junior version of
Property Investment – Buy to Let
In recent years, the stock market has had its ups and downs. Add to this the serious loss of public confidence in pension funds as
Pensions – Tax Reliefs
Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Workplace
Pensions – Automatic Enrolment
What is automatic enrolment? Automatic enrolment places duties on employers to automatically enrol ‘workers’ into a work-based pension scheme. The main duties are: assessing the
Individual Savings Accounts
Successive governments, concerned at the relatively low level of savings in the UK economy have over the years introduced various means by which individuals can
Enterprise Investment Scheme
The purpose of the Enterprise Investment Scheme (EIS) is to help certain types of small higher-risk unquoted trading companies to raise capital. It does so
Capital Gains Tax
A capital gain arises when certain capital (or ‘chargeable’) assets are sold at a profit. The gain is the sale proceeds (net of selling costs)
Capital Gains Tax on Disposal of Chattels
The term ‘chattel’ refers to an item of tangible movable property. It would therefore include: Items of household furniture Paintings, antiques, items of crockery and
Personal Tax Guidance
Are you Still on Track for Retirement?
Most of us can remember the day we left school or university to begin our working life. However, today you may be closer to retirement
Capital Gains Tax and the Family Home
The capital gains tax (CGT) exemption for gains made on the sale of your home is one of the most valuable reliefs from which many
Does your Estate Planning Pass the Test?
It is never too early to plan your estate. If it is large, it could be exposed to inheritance tax at 40%, and if it
Furnished Holiday Lettings
Different tax rules apply to income from letting property, which is generally taxed under the property income rules. For many years, the Furnished Holiday Lettings
Giving to Charity
Gift Aid Gift Aid is the main vehicle for tax-efficient giving to charities. It can apply to any donation whether large or small, regular or
Land and Buildings Transaction Tax
Land and Buildings Transaction Tax (LBTT) is payable by the purchaser in a land transaction which occurs in Scotland. These types of transaction would include
Land Transaction Tax
Land Transaction Tax (LTT) is payable by the purchaser of property in Wales. Who pays the tax? LTT is payable by the purchaser of residential
Making a Will & Other Related Matters
Making a Will is one of the most fundamental aspects of estate planning, yet many people do not appreciate its importance. It is an essential
