Latest Posts
WHAT IS A VAT RETURN?
Jun 17, 2013
Does your business need an accountant?
Jun 17, 2013
What are Annual Accounts?
May 13, 2013
RTI Brought in at the Weekend
Apr 9, 2013
So You Want to be an Employer!
Mar 21, 2013
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WHAT IS A VAT RETURN? June 17, 2013
A VAT return has to be completed by any company that has a turnover of £79,000 (as from 1 April 2013) and above and therefore needs to be VAT – registered. So what is a VAT return? A VAT return involves input and output VAT. Input VAT is defined as VAT that can be reclaimed
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Does your business need an accountant? June 17, 2013
The answer to this question is undoubtedly a resounding “yes”. Although you may be tempted to pinch a few pennies either with your start-up or smooth-sailing small business, the value of a good accountant cannot be measured. Managing your own business, accounting incorrectly can cost you more money in the future and will hurt your business not only now, but also in
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What are Annual Accounts? May 13, 2013
Big or small, it is essential that you provide Companies House and the HMRC with detailed records of your in-goings and outgoings for your business. By providing them with detailed records – in the form of Annual Accounts – they can more accurately determine what taxes your business owes and ensure that you don’t pay
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RTI Brought in at the Weekend April 9, 2013
From last weekend, the biggest alteration to the PAYE system since 1944 will be in effect. Real Time Information, or RTI, was introduced from the 6 April and will affect all businesses who pay their employees through the PAYE system. Whereas before the information was sent off to HMRC in an end of year report,
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So You Want to be an Employer! March 21, 2013
Initially becoming an employer for the first time is an exciting event. Employing staff brings with it additional responsibilities as well as an increased workload. Registration with Her Majesty’s Revenue & Customs (HMRC) is fairly straight forward. Once the relevant information has been supplied HMRC will recognise you as an employer and supply you with
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Paying Your Employees March 21, 2013
Paying your employees on time and the correct salary is an important factor in maintaining employee satisfaction and motivation. Personnel changes, deadlines and tax regulations all add to the complexity of producing a payroll. Outsourcing your payroll service can ensure that all your statutory obligations are met without any additional stress. The benefits of outsourcing
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What is Company Formation? March 21, 2013
There are many ways to set up in business. Some may choose to buy a company and others to set up from scratch. Choosing the most appropriate trading method for you depends upon what you are seeking and, therefore, having a business set up to match your needs may be a wiser choice in the
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New Tax Penalties To Watch Out For March 21, 2013
It is important for any small business owner to remember that new late filing penalties have been brought into effect by HMRC in April 2011. Anyone who does not file their self-assessment tax forms on time will be subject to these penalties, which increase in scale depending on how long you delay filing or paying
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Outsourcing The Accounting Process March 21, 2013
Without access to accurate and timely financial information it is very difficult to run a business profitably. This is why it makes sense for small businesses to hand over control of their financial processes to accountants, who undoubtedly have superior software and technology plus greater expertise in the field. The most obvious benefit of accountancy
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VAT Registration Made Simple March 21, 2013
Whilst optional for small businesses, larger organisations with a sales turnover in excess of £70,000 per annum (currently) must register for VAT. This turnover assessment is based on a rolling 12 month period and not the business financial year so keeping a close eye on the growth of the business is essential as this level
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