From April 2019 VAT registered businesses who have a turnover over the VAT registration threshold (currently £85,000) must use accounting software to file their VAT returns. If your turnover is over £85,000 you will no longer be able to use the Government Gateway to file a return. The only businesses which will be exempt from complying with this regulation …
At least once a year every business owner should review the cost of running their business - the overheads. Whilst you might spend time finding the best and most cost effective supplier for the goods that you sell or for the materials that are used to provide your service, do you consider the other costs that your business incurs? Costs such as insurance, telephone & broadband, stationery, subscriptions and marketing. Are you aware of these overhead costs or do you just accept they are what they are? …
I have written a few blogs over the years about the differences between an accountant and a bookkeeper and why I recommend that you use both a bookkeeper and an accountant for your business. That may be yourself as the bookkeeper, an employed bookkeeper or a bookkeeper external to your business - whatever works best for your business. During the last 12 months …
Did you know that as an employer you can claim £3,000 every year against your Employer's National Insurance contributions? Known as the Employment Allowance, it was introduced in April 2014 to encourage employers to take on more staff. The Allowance was originally set at £2,000 but soon increased to £3,000 enabling employers to benefit for longer. The Allowance is claimed …
The recent ruling against Pimlico Plumbers in favour of one of its workers highlights the need for every business owner to understand the rules around employment and self-employment. The worker in question was self-employed but wanted to be paid sick pay when he fell ill and also to be paid holiday pay. …
