Spring Statement 2022 – The lowdown
The Chancellor unveiled a fresh batch of tax changes and updates in the Spring Statement. Here are the key takeaways for small businesses. ...
Raising money through the EIS scheme
How the scheme works EIS is designed so that your company can raise money to help grow your business. It does this by offering tax ...
The seed EIS scheme
How the scheme works SEIS is designed to help your company raise money when it’s starting to trade. It does this by offering tax reliefs to ...
P11D – Not All Benefits Count
Despite the coronavirus lockdowns HMRC still expect P11d forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Remember that ...
Beware The Mini Umbrella Fraud
HMRC are urging businesses to look out for the use of mini-umbrella companies (MUCs) to pay contractors supplying their labour via agencies and other ...
How Xero Works
Xero is accounting software to-do your to-do. Running in-the-cloud you get everything you need to run your business. It’s fast, simple, powerful software and ...
Associated Companies – New Tax Rates
ASSOCIATED COMPANIES COUNT FOR NEW CORPORATION TAX RATES A 25% rate of corporation tax will apply to all of a company’s profits if they ...
4th Self Employed Grant
DETAILS OF FOURTH SELF-EMPLOYED INCOME SUPPORT GRANT Like the CJRS scheme for employers the Self-Employed Income Support Scheme (SEISS) has been extended to September ...
New CJRS Furlough
New furlough pay grant The fourth version of the CJRS “furlough” grant scheme starts on 1 May 2021 and will run until 30 September ...
The New Super Deduction
In the Budget on 3rd March the Chancellor announced a new 130% tax relief for expenditure on new plant and machinery incurred between 1 ...
Tax Rates on Dividends 2021/22
If the company has sufficient profits it can pay a dividend to its shareholders. Although dividends are NOT subject to NI, they are subject ...
Off Payroll Rules – Get Ready
The “off-payroll” working rules that apply to certain workers supplying their services to clients via their own personal service companies start from 6 April ...
Job Retention Scheme Update
CHANGES TO THE CORONAVIRUS JOB RETENTION SCHEME FROM JULY 2021 The Coronavirus Job Retention Scheme has been extended until 30 September 2021 and the ...
SEISS Grant Update
SELF-EMPLOYMENT INCOME SUPPORT SCHEME FOURTH GRANT (SEISS) In the recent Budget, the chancellor has set out further support for the self-employed. In addition to ...
Off-Payroll Rules & IR35
GET READY FOR THE “OFF-PAYROLL” WORKING RULES Where large or medium-sized organisations are paying workers via personal service companies (PSC) or agencies they will ...
2021 Budget
CHANCELLOR “LEVELS UP” WITH US ON TAX In the Chancellor’s second real Budget on 3 March 2021 he announced that he had to level ...
Buy New Equipment Now
BUY NEW EQUIPMENT BEFORE 6 APRIL? Your business year end, not 5 April, is relevant for capital allowances purposes. If however you are running ...
New VAT Rules for Construction
VAT RULES FOR CONSTRUCTION SECTOR STARTED The new “reverse charge” system of VAT accounting affects sub- contractors supplying their services to main contractors in ...
VAT Deferral Payment Scheme
HMRC has launched its VAT deferral new payment scheme for businesses who deferred their VAT payments last year due to the coronavirus. The online ...
Expense Claims in Xero
Expense claims can be a headache for both the employee and the accounts team. With Xero you can manage the whole process online. Employees ...
Trading conditions of SEISS
How will trading conditions affect eligibility for the Self-Employment Income Support Scheme. HMRC has updated its guidance to define what it means by reduced ...
No late filing penalty
HMRC has announced Self-Assessment taxpayers who cannot file their tax return by the 31 January 2021 deadline will not receive a late filing penalty ...
Manage Bills in Xero
Managing your bills in Xero accounting software helps you stay organised, manage cashflow and pay your suppliers on time. This video tutorial shows you how ...
Xero and Grind
Xero and Grind Coffee. An excellent case study to show how powerful the partnership between small business, cloud software and modern accountants can be.
COVID-19 Support Extended
A number of government support schemes designed to support employers, employees and business owners through the coronavirus (Covid-19) pandemic have been extended this week. ...
Bounce Back Loans
New fast track government loans are being introduced for micro sized businesses to provide access to underwritten loans of up to 25% of turnover ...
Self Employed Support
The new Self-employment Income Support Scheme offers a taxable grant worth 80% of trading profits, up to a maximum of £2,500 per month, for ...
VAT Payment Deferral
Summary VAT registered businesses are not required to make VAT payments that are due from 20 March 2020 to 30 June 2020.This relief is ...
Job Retention Scheme
As of this morning, 25th March 2020 the government has provided very little more in the way of detailed guidance around the Coronavirus Job Retention ...
The Budget 2020
Newly appointed Chancellor of the Exchequer Rishi Sunak has just delivered his first ever budget to the House of Commons. Chief Accountant at FreeAgent, ...
What is Seed EIS?
SEIS is designed to help your company raise money when it’s starting to trade. It does this by offering tax reliefs to individual investors who buy new ...
Sole Trader – Cash Basis
‘Cash basis’ is a way to work out your income and expenses for your Self Assessment tax return, if you’re a sole trader or partner. ...
What is Making Tax Digital?
Making Tax Digital (MTD) is changing the way UK businesses, accountants and bookkeepers do their taxes. Find out what this means for you and ...