Keeping track of paperwork can be rather tedious, and not everyone’s cup of tea, but luckily, HMRC understands this and has created simplified expenses to make things more straight forward. What Is A Simplified Expense? A simplified expense is a flat rate set by HMRC, which you can offset against your self-employed income. It means…
With the new year approaching, you are probably thinking about your future plans, especially when it comes to you and your business. You may want more customers, more money, or to expand your business with more employees. All of these things are possible, but avoiding your finances may be the thing that is standing in…
Do you ever find yourself sitting in a meeting, enjoying a cup of coffee that you paid for out of your own pocket, and find yourself wondering if you could claim it back? As an employee, it’s quite simple, but as a business owner, it is far less clear cut. You may have to travel…
It’s not often that we hear the words ‘tax-free’, but you heard it right, electric vehicles will be exempt from company car tax in the 2020/2021 tax year. Will going electric benefit your business? If you are unsure, here is everything that you need to know. Let’s Look At The Benefits Regardless of the registration…
Tax returns are stressful enough, and the risk of being scammed makes it even more worrying. Don’t fall into the hands of criminals by falling for their scams; have a read through our blog and make sure that you know what to look out for. HMRC received almost 900,000 reports over the last year about…
There are many reasons why you may be thinking about changing your accountant, and this blog is here to tell you how simple it is to do so. Your current accountant may be unable to answer your questions, or they may not be able to cope with the workload you give them. Changing your accountant…
If you rent an office or workshop for your business, the tax return is relatively straightforward because it’s entirely for the company. However, if renting isn’t an option, you may find yourself working from home. With this comes additional expenses, and it wouldn’t be fair not to be able to include them in your tax-deductible…
We don’t often think about pensions until later in life, but if you are a business owner, then you should prioritise it. Owning a Limited Company does not mean that you cannot have a pension; you just have to think about it and plan it, rather than simply expect it. Pension planning is crucial if…
Nothing is certain but death and taxes; I’m sure you’ve heard this before. Choosing to work with an untrustworthy accountant can get you into a world of trouble. Knowing who to trust can be difficult, but knowing the basics to avoid being taken for granted is much easier. Pay The Right Amount of Tax Nobody…
If you are a business owner, when you sit down with your accountant to discuss your year-end accounts, you will probably hear the term Director’s Loan Account. It’s not the easiest thing to get your head around, so we’ve put together a list of everything you need to know. What is it? It’s a log…