Landlords Beware!!

If you buy a property not everything you spend on repairs and maintenance to make said property fit for use can be offset against profit.See article below.Most expenditure incurred by a landlord will be allowable at sometime whether as capital (where it is deductible in the capital gains tax computation on disposal) or as a […]

VAT De-Registration

VAT De-Registration A lot of businesses have been hit extremely hard by the COVID-19 pandemic and are exploring the possibility of de-registering for VAT. If you stop providing taxable goods or services or your turnover falls below the de-registration threshold of £83,000 within a 12-month period, your business can voluntarily ask HMRC to cancel its […]

Changes To Off-Payroll Working Rules (IR35)

Changes To Off-Payroll Working Rules (IR35) From April 2021 the new reformed Off-payroll working rules (IR35) are being introduced.  They mainly apply to contractors who provide large or medium companies (their client) with their services via an intermediary. The intermediary is commonly a personal service company (PSC) however it could also be a partnership, a […]

Domestic Reverse Charge For Building & Construction Services

VAT: Domestic Reverse Charge For Building & Construction Services The VAT reverse charge is coming into effect on the 1st of March 2021 with the main aim of combating VAT fraud. It applies to businesses registered for VAT that are within the Construction Industry Scheme (CIS) and offer services at standard or reduced VAT rate […]

What Is VAT Return In the UK?

VAT (Value Added Tax) is a direct tax on goods or services. As part of operating a small business, it’s essential to understand how VAT works, so we’ve put together this short primer to get you up to pace on the basics. VAT system in the United Kingdom In the United Kingdom, VAT is a […]

What Is The Preparation Of Annual Accounts?

Every year, all limited companies registered in the United Kingdom are required to submit annual accounts. You may well be capable to handle all secretarial and accounting chores alone, based on the scale of your firm and the intricacy of its financial operations. Most businesses, on the other hand, employ accountants. Whatever you choose, it’s […]

Personal Tax Return

Some people within the UK are required to file a tax return annually. It’s a type that you use to report your earnings and capital appreciation for a specific tax year. You’ll be able to submit the form to Her Majesty’s Revenue & Customs (HMRC) on paper or electronically. Your tax due is calculated by […]

How do Management Accountants support strategic decisions

Is it true that the use of strategic management accounting aids decision-making? Let’s see what we’ve got!! Organisations are facing more significant problems, complexities, and changes in the global market and increased competitiveness and rapid data dissemination in the current business environment. Accountants should move their jobs inside businesses to have a higher strategic emphasis […]

What does the Bookkeeper do?

Bookkeeping is critical to your business’s success, but how much do you know about just the profession that works with numbers? Let’s look at what bookkeepers perform, some of the advantages of bookkeeping, and your alternatives for hiring one. What is the job of a bookkeeper? A bookkeeper (sometimes called a bookkeeping clerk) is a […]