Are you worried about that freebies are tax free or not? Well, this is a question in minds of many people. The funniest part is that while using companies’ phone or enjoying the incentives people are thinking about only one thing and that is about paying taxes. Let’s start with the basic, it is very[...] Read more »
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The basics of small business accountancy
Here at Yorkshire Accountancy, we specialise in providing an extensive range of high-level accountancy, tax and payroll services, from year end accounts and personal tax to business plans and VAT returns, in which you can have the ultimate confidence. Such services make it possible for you to concentrate on what you do best: generating revenue[...] Read more »
A Quick Guide to Corporation Tax
Corporation tax is normally paid by companies that are legally incorporated as limited companies. Unincorporated organisations such as clubs and societies will also be liable for payment of corporation tax if they have a taxable income. Corporation tax is essentially a tax on the profits that your company makes in each financial year. Registering a[...] Read more »
Claiming for Unfair Dismissal ! Know when the Right Time is !
When a notice of dismissal is received by an employee, it is generally considered that the time of dismissal has started immediately. However, the Employment Appeal Tribunal (EAT) has another say on this issue in its latest ruling point. Often, the enforceable statutory right of an employee is determined by the time of his notice[...] Read more »
Bad debt collection tips for small businesses
Nothing satisfies an accountant more than to see positive and strong cashflow combined with minimal bad debts. Running an efficient business is demanding but none more so than in the bookkeeping and collection of debts owed. Poor payers usually use one of four standard responses: I already paid, I cannot afford to pay, I will[...] Read more »
Benefits of E-invoicing for small businesses
While the information age has changed the face of business one area that is still not fully utilised is that aspect of bookkeeping: E-Invoicing or as it is known elsewhere – Electronic Bill Presentment and Payment (EBPP). Why this is the case is not certain but there are several very tangible benefits to EBPP and[...] Read more »
New taskforces combat tax evasion
HMRC has announced the latest of their taskforce crackdowns targeting specific trades, this time focussing their attention on the fast food industry. Other taskforces so far this year have been clamping down on restaurants, plumbers and handymen with the intention of uncovering the tax evasion that is commonplace in many of these industries. These taskforces[...] Read more »
Accounting Software solutions for small businesses
There are lots of accountant software solutions for small businesses to help with everything from bookkeeping to cashflow management. They can provide a range of easy to use and easy to set up accountant software and bookkeeping systems that are capable of providing the basics from invoices to cashflow book alternatives for small businesses that[...] Read more »
Choosing a sole trader structure for your business
When setting up a business, the sole trader structure is by far the most simple. You are responsible for all the day to day running and decisions of the business as well as all the administrative details such as the bookkeeping and monitoring cashflow. By default, as the only owner of the business you reap[...] Read more »