My Latest Blogs
13th March 2017
MTD Seminar Invitation
Making Tax Digital: Seminar Invite. Attend a free seminar at our Ely office on 11 April 2017 at 8:30am, to understand the new digitised book keeping and quarterly submission requirements of Making Tax Digital: Full Invite Details and RSVP Return Slip Blog entry by: Amanda Newman.
8th March 2017
Budget 2017
What’s in it for the self-employed? Starting with the good news, those with a turnover of less than £85k have been delayed from having to adopt accounting software and quarterly reporting under HMRC’s new Making Tax digital until April 2019. However, on the downside, you will have to pay 10% class 4 national insurance rather…
25th July 2016
Summer Holiday Dreaming
Dreaming of Starting your own Business? The summer holidays are here, which means for most people you will have the traditional summer break, and then face the prospect of returning to work. This is when thoughts may wander to starting your own business – working for yourself rather than for someone else. For many this…
27th November 2015
Trading Accounts
Putting off Preparing your first Accounts? Have you started in business between 6 April 2013 and 5 April 2014? If so, it is likely that you are due to prepare your first set of accounts. If you are self-employed these would have to be included on a self-assessment tax return, due for filing by the…
10th August 2015
Husband and Wife Tax Planning
Start-ups: Make use of your spouse’s tax allowances. There are a lot of costs surrounding setting up your own business, so saving tax is a big concern for most clients. This can be done in a number of ways, through ensuring you are claiming all your business expenses. However there is also the consideration of…
24th January 2015
Delay Payment of VAT to HMRC
Requests for Payment If you supply goods, the taxpoint for accounting for VAT on these sales is the sooner of: The raising of a tax invoice, or Receipt of payment. To delay this taxpoint, it will usually, therefore, be beneficial, prior to dispatching goods, to raise a “Request for Payment”, “Application” or “Proforma Invoice” instead…
6th August 2013
VAT Registration
Do I need to register for VAT? This is one of the many questions we hear from clients who have just started in business. The compulsory VAT registration threshold is currently £79,000. If you expect your annual turnover to exceed that threshold quickly, then you are probably best registering on day one. If not, and…