Accounting is something that many small businesses and contractors are put off by  but money and cash flow are vital to both the business and you personally. Although contractor accountants can help with virtually any financial aspect of running a small business, it is in dealing with taxes and ensuring that you legally reduce your […]

Until June 2016, companies registered in the UK had to file an Annual Return with Companies House, giving a snap shot of the company’s structure and shareholdings on a set date every year. From June 2016 this is being replaced with a Confirmation Statement, which contains much of the same detail as the Annual Return, but with one major […]

The tax general anti-abuse rule (GAAR) became law this summer, and there have been rumblings that HMRC will use this to attack income shifting between spouses. Should you be concerned about this? Profit shifting in action There are a few ways in which you can shift company income to your spouse which might come under […]

In most situations, a business can claim input tax on its expenditure – assuming that it is both VAT registered and not partly exempt i.e., making some exempt supplies as well as sales that are subject to VAT. However, a specific input tax block applies to business entertaining expenses – unless the entertaining relates to […]

Basic accounting tasks.Most small businesses can make do with accounting software that offers basic functions like invoicing (both by email and snail mail), income and expense tracking, financial report generation, and client and vendor management. Things like automatic billing, recurring payments, past-due notifications and other automated processes save you time because you will not have […]

Who uses us? Landlords CIS Self Employed Do you need to complete a Tax Return? Most taxpayers in the UK are taxed at source and so do not need to complete a Self-Assessment Tax Return. ‘Taxed at source’ means that the money you receive has already had tax taken off, such as the wages you […]