Flexible Furlough For Directors
  • Flexible Furlough For Directors

Up until now, company directors have been able to furlough themselves and carry on doing their director duties, provided they are doing no income-generating activities. This is still the case, however, with the introduction of a new phase of the furlough scheme, they may wish to consider the option of ‘Flexible Furlough’. Here we explain…Read More

Posted in: Companies | COVID-19 | Helpful Tips | News

SEISS-The second Grant
  • SEISS-The second Grant

The Self Employed Income Support Scheme (SEISS) was first introduced to assist sole traders and those in a partnership who had been adversely affected by Covid-19. The scheme offered a grant worth 80% of average monthly trading profits for a three month period, paid in a single instalment and capped at a total of £7,500.…Read More

Posted in: Benefits | COVID-19 | Helpful Tips | News | Tax

Using classes in QuickBooks
  • Using classes in QuickBooks

‘Classes’ is a feature of QuickBooks Plus in which transactions can be tracked by departments, product lines, customers, or any other segment of your business you’d like to keep track of. This is a useful feature for those businesses that would like to keep an eye on expense, income, and profit of certain segments of…Read More

Posted in: Companies | Helpful Tips | QuickBooks

Restarting your deferred VAT in seconds!
  • Restarting your deferred VAT in seconds!

As you might have seen, HMRC has now ended their deferral of VAT payments and as such, you may now wish to reinstate your direct debit payments. Unfortunately, HMRC has removed the ability for us to set this up on your behalf, however, it is relatively straightforward for you to do now. Firstly, you will…Read More

Posted in: Benefits | Helpful Tips | News | Tax | VAT

QuickBooks Update – Construction Industry Scheme.
  • QuickBooks Update – Construction Industry Scheme.

File CIS returns The accounting industry has been evolving for the last 20 years, adapting to the new digital age. Cloud accounting is the practice of using accounting systems that are accessed online; this has been implemented for a variety of accounting purposes, giving us business owners easy access, better time efficiency, relevant reports and…Read More

Posted in: CIS | Companies | Helpful Tips | QuickBooks

The end of Furlough?
  • The end of Furlough?

The Coronavirus Job Retention Scheme – The End of Furlough? On the 29th of May, the chancellor announced some major new updates to the Coronavirus Job Retention Scheme to help get businesses back on their feet and employees back to work. Here we outline the latest changes and highlight what you need to know. Deadline…Read More

Posted in: Benefits | Companies | Loans | News

Rollover relief
  • Rollover relief

Replacement of business asset relief Rollover relief (ROR) allows the gain arising on the disposal of a qualifying business asset to be rolled over (i.e deferred) when the sale proceeds are reinvested in a qualifying replacement asset within a qualifying time period. This relief is both available to individuals and companies. For individuals   The…Read More

Posted in: Allowance | Companies | Helpful Tips | Tax

COVID-19 the numbers
  • COVID-19 the numbers

The numbers behind the covid-19 pandemic The Coronavirus has pushed the world into a downward financial spiral and plagued global societies with financial uncertainty, loss and great sadness. Many international governments and health organisations are doing all they can to not only stop the spread but to also provide support and stability to those also…Read More

Posted in: Companies | News

Cash Flow
  • Cash Flow

Look after your cash flow and it will look after your business More so now than ever, cash is extremely important to the success of your business. As we slowly come out of COVID 19, it will be vital to make sure you are making the most of your cash reserves, support loans and managing…Read More

Posted in: Companies | Helpful Tips | Loans | QuickBooks | Tax | VAT

Open Banking Update
  • Open Banking Update

Open banking regulations came into impact on March 14th 2020.  Since then, most people with bank connections to QuickBooks will have noticed a difference to the way that their accounts are connected, whether that be that the connection now runs uninterrupted for 90 days without security needed, or that the bank feed is no longer…Read More

Posted in: Helpful Tips | QuickBooks | Uncategorised

The Coronavirus Job Retention Scheme – The Important Facts
  • The Coronavirus Job Retention Scheme – The Important Facts

The HMRC Job Retention Scheme Portal has been live for nearly two weeks now and the first applicants have started receiving payments. But with furloughing being such a new concept and the many updates to the guidance from the government, it can be difficult to understand. Here we look at the most important points. What…Read More

Posted in: Companies | Helpful Tips | Loans | Staff

Stock Transfers during COVID-19
  • Stock Transfers during COVID-19

How to complete a stock transfer form and get it processed, including new measures put in place because of Coronavirus (COVID-19). Due to measures put in place to stop the spread of coronavirus (COVID-19) HMRC have temporarily changed the way they deal with Stamp Duty. You should not post stock transfer forms to HMRC –…Read More

Posted in: Community | Companies | Helpful Tips | Loans | Tax | VAT

Selling part of your garden – potentially a tax-free way to make the most out of your unused land
  • Selling part of your garden – potentially a tax-free way to make the most out of your unused land

For those of you with a sizable garden, you may have thought at some point that you may not be using this space to its full potential. Maybe you were planning to grow some vegetables and then realised, you don’t have the green thumb you once thought you did. Maybe someone else could use that…Read More

Posted in: Helpful Tips | Tax

Changes to Capital Gains Tax
  • Changes to Capital Gains Tax

The government have introduced changes to the way that Capital Gains Tax for residential properties is reported and paid with effect from 6th April 2020. These changes mean that when you sell a residential property in the UK that results in a Capital Gains Tax liability you will have 30 days from completion of the…Read More

Posted in: Allowance | Helpful Tips | Tax

PAYE Settlement Agreement- PSA
  • PAYE Settlement Agreement- PSA

A PAYE Settlement Agreement (PSA) allows you, as an employer, to make an annual payment to cover all the tax and National Insurance due on minor, irregular or impracticable expenses or benefits for your employees. Class 1B national insurance is due on PSA’s which means that the expense or benefit does not need to be…Read More

Posted in: Companies | Helpful Tips | Tax

Charles Lyell

Never call an accountant a credit to his profession; a good accountant is a debit to his profession.

Charles Lyell