Tax

The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers and tax advisers, we both have to be nimble, flexible and aware of changes. That’s why regular tax-planning sessions are so important. Is your business meeting the right tax compliance goals? Are there tax changes...

A Bank reconciliation involves a comparison of your sales and expense records against the record your bank has. It is a critical financial process to identify and rectify any discrepancies or errors between your internal financial records with the transactions recorded in your bank statement.  Bank reconciliations keep your bookkeeping accurate and can help lower your tax, alert...

The Chancellor, Jeremy Hunt, delivered his second Spring Budget on 6 March 2024. This Budget aimed to appeal to the taxpaying masses, with cuts to National Insurance and a rise to the threshold for VAT registration. But was it too little, too late for the UK economy? We’ve summarised the main points, so you can see how the...

Not sure about the tax implications of giving gifts to your employees? We’ll help you draw up internal guidance to make sure any gifts don’t unintentionally fall outside HMRC’s Trivial Benefits rules. #tax #gifts Giving gifts to your employees can be a great way to increase engagement and raise the overall morale of your team. But how much...

Thinking about end-of-life planning might sound morbid. But by planning ahead, you remove the worry and hassle for your loved ones and secure your long-term legacy. #businessadvice #SmallBusiness #endoflifeplanning #estateplanning No-one wants to spend too much time thinking about their own mortality. But the reality is that forward planning removes a lot of the uncertainty for your loved...

Are you borrowing or planning to buy assets from your business? If so, you need to be aware of the benefit-in-kind rules and what you may be charged for buying this asset. #tax #accounting #businesstips There will be occasions where you want to buy, or borrow, a piece of equipment from your business. But did you know that...

Tax won’t be top of your mind when going through a separation. But changes to the post-separation window rules mean it’s sensible to have a conversation with your tax adviser ASAP. We’ll advise you on the changes and help you plan. #tax When you separate from your partner, tax is probably the last thing on your mind. But,...

Are your kids hoping ‘The Bank of Mum and Dad’ will finance their first home? Come and talk us. We’ll run you through the options, the tax implications and the planning that’s needed. #BankofMumAndDad #BOMAD #property #funding Finding the deposit for your first house can be a struggle, and many millennials and Gen Z zoomers are turning to...

Are you VAT-registered? Are you complying with the regulations when sending out VAT invoices and claiming against supplier invoices? We’ll give your invoice process a review to make sure you’re ticking all the boxes #tax Whether you’re selling or buying, it’s important to make sure that any VAT invoices you issue or receive comply with the strict VAT...

HMRC’s new penalty regime begins in January 2023 for VAT-registered businesses. Are you ready for the points-based scheme? Talk to us about the impact for your business. #tax #HMRC HM Revenue & Customs (HMRC) is about to update and change its penalty regime – and these new penalties could affect your tax submissions as early as January 2023....