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VAT return periods and accounting year end dates

News

The quarterly VAT periods for VAT returns do not always tie in with accounting year end dates. For instance, a VAT return may run for three months November – December – January, whereas the accounting year end is 31 December. Whilst this is not a “big issue” with regard to the accounts and workings, in […]

Tax returns for 2020/21

News

We are now in the process of completing tax returns for the year to 5 April 2021. We would encourage you to provide us with the tax information as soon as practicable! There will be a second payment on account of 2020/21 tax due on 31 July. For many, this may well be far more […]

Self Employed Income Support Grant (SEISS) – 4th tranche

Client News

The scope of SEISS was extended by an announcement in the March 2021 Budget to help the newly self-employed and the existing scheme has been extended to a fourth and fifth round. The fourth SEISS grant is available to individuals who began self-employment in the 2019/20 tax year, which began on 6th April 2019, as […]

Are you correctly recording your sales / turnover?

Client News

It is essential that “sales” are recorded accurately for VAT and income tax/corporation tax purposes. The amount sent to your bank from various sources may not be the full sale price, as there may have been deductions before payment is made. As an example – holiday lettings – the agent’s fee is likely to have […]

Implications of providing Benefits in Kind (BIK) to you or your employees

Client News

Receiving a “perk” from your employer on top of the regular salary can result in additional tax to pay, depending upon the perk. Items such as company cars (or vans), fuel, interest-free loans, private health cover, gym membership, expenses that are not related to business and many more can be liable to tax as they […]

Tax free Savings

Client News

The personal savings allowance is a benefit that applies to almost every taxpayer in the UK, which makes it much less likely that you’ll pay any tax on the interest you earn from your savings. There are three bands of income tax in the UK, the basic rate, the higher rate and the additional rate. […]

Reddit

Client News

What is Reddit and how can you use it? Reddit has been in the news a lot recently, due to the Gamestop share price boom that was largely driven by an investment forum on the site. So what exactly is Reddit? Reddit is a hugely popular online forum. It allows users to create their own […]

What can businesses learn from Jeff Bezos

Client News

As Jeff Bezos steps down as CEO of Amazon, his legacy continues to inspire business leaders across the world. Jeff Bezos started Amazon as a loss making online book store and has built it into one of the largest and most successful businesses in the world. Amazon is a business that is known for having […]

Feed forward rather than feedback

Client News

People can respond negatively to constructive feedback – so feed forward instead. When we provide feedback to an employee, we share information in terms of how they are currently performing. When negative feedback is given, the individual can respond defensively. Even constructive feedback can be taken the wrong way. The idea of feed forward is […]

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