Does it incense you when your accountant keeps chasing you for VAT invoices when your VAT return is due? We are continuously advising our clients that, when you are VAT registered, there are specific elements that need to be included on sales invoices. We also need a VAT receipt or invoice if you are claiming VAT on expenses. We promise there is a good reason for this persistence - we'll try to offer a bit of clarity on the process.Read More
If you buy plant or machinery for your company, then this might be of some interest to you. In response to a drop in the number of businesses investing the Government has introduced a tax relief which they hope will improve the UK's economic growth.Read More
If you're setting up a limited company you're going to have to decide how much you should pay yourself as a director. This might lead to a lot of questions about salary and the ways in which different amounts could benefit you or impact tax liabilities. We've put together a quick summary of things you could consider.Read More
As of April 1st, the national minimum wage has increased impacting businesses and millions of UK workers. As always the amount per hour the individual will get varies depending on age. Here are some of the important factors employees need to keep in mind when considering the changes.
The government have released another welcome scheme which gives a discount of up to £8,000 on the price of a brand new low emission vehicle. The grant is issued straight to vehicle dealerships and manufacturers meaning you do not need to do anything if you would like to purchase one of these vehicles.
The vehicles eligible for a grant are:
There has been some good news from the HMRC. Due to the coronavirus (COVID-19) pandemic, if you missed the 31st of January deadline to submit your self-assessment tax return, you’ll not get a late filing penalty as long as you submit your online return by 28 February.Read More
Many in the accountancy industry have been lobbying for the HMRC to extend the self-assessment tax deadline beyond the 31st of January. They have recently confirmed that they are not intending to extend the deadline but there are still options for those struggling to complete their self-assessment tax return on time.Read More
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