Blog

Self-employed Grant
  • Self-employed Grant

Who can get the Self-Employed grant? Sole traders or partners in a trading partnership, but not director/owners of limited company businesses. What will you get? A taxable grant representing up to 80% of your average profits if you meet the following criteria: you submitted your tax return for 2018/19 ( year ended 5th April 2019…Read More

Posted in: Allowance | Community | Helpful Tips | News

Support for Self-Employed COVID-19
  • Support for Self-Employed COVID-19

On Thursday evening, Chancellor Rishi Sunak unveiled the eagerly awaited government aid plans for the self-employed in the UK. The scheme looks to mirror the current support offered to the employed by offering an 80% guarantee on income up to £2,500 per month (dependant on conditions). How much will I get? Much like the scheme…Read More

Posted in: Allowance | Community | Helpful Tips | Loans | News | Tax

What Financial Support is Available for Businesses during the COVID-19 Outbreak?
  • What Financial Support is Available for Businesses during the COVID-19 Outbreak?

With the vast majority of the country practising ‘social isolation’ during the outbreak of the Coronavirus, we are seeing that more money is remaining in pockets and out of the cash flow of small businesses. We look at some of the solutions available to help businesses protect themselves through this potentially difficult time financially. Government…Read More

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

What did we learn from the Budget about changes to pension reforms from 6th April 2020?
  • What did we learn from the Budget about changes to pension reforms from 6th April 2020?

It was announced that there would be an increase to the tapered annual allowance for pensions. There will be a £90,000 increase to ‘threshold income’ – increasing it from £110,000 to £200,000. Broadly speaking threshold income is your net income less your gross personal pension contributions. This means that individuals with a threshold income of…Read More

Posted in: Community | News | Pension | Tax

Tracking stock in QuickBooks Online
  • Tracking stock in QuickBooks Online

Keeping track of stock can be a tedious process that business owners dread on a daily, weekly or monthly occurrence depending on how often you may like to do a stock count.  However, QuickBooks Online can do this for you, with no extra work other than the standard bookkeeping that you have to currently do…Read More

Posted in: Community | Companies | Helpful Tips | QuickBooks

Tracking Profitability of Jobs in Quickbooks Online:
  • Tracking Profitability of Jobs in Quickbooks Online:

If your company is in the construction industry, you may like to track all income produced by individual jobs. However, this can be quite hard to do – especially if there is more than one job corresponding to a client. Perhaps you would like to keep on top of purchases made to complete jobs? If…Read More

Posted in: CIS | Community | Companies | Helpful Tips | QuickBooks

Looking ahead to the Annual Budget
  • Looking ahead to the Annual Budget

The day of the red briefcase, budget day is just around the corner. Set to be unveiled on 11th March, provided the reshuffle doesn’t delay proceedings, here is a look ahead at what we might be able to expect: Entrepreneur’s relief (Bad news for successful business owners) With the Tories promising to review Entrepreneur’s relief,…Read More

Posted in: Benefits | Community | Companies | News | Tax | VAT

Venture Capital Trusts
  • Venture Capital Trusts

Venture Capital Trusts (VCT) are investment companies, listed on the London Stock Exchange, that aim to provide higher income earners with the opportunity to invest their money into smaller businesses in exchange for favourable tax breaks. VCT’s look to collect money from individual investors/groups and re-invest the funds into smaller UK businesses in order to…Read More

Posted in: Uncategorised

Buy to Let Properties – Buying through limited company vs personally
  • Buy to Let Properties – Buying through limited company vs personally

There has been a large increase in the number of landlords purchasing a property in limited companies rather than personally in the past few years. This is mainly due to the changes in finance relief available for buy-to-let properties as set out in the 2017 budget. In this blog, we detail the key differences in…Read More

Posted in: Uncategorised

Your business and the EU settlement scheme
  • Your business and the EU settlement scheme

As an Employer, it’s been a long and uncertain 3 years for the UK and Brexit and especially for members of your team who are EU nationals living and working in the UK. From a business perspective, this uncertainty could have a very negative impact on your business if retaining EU national staff, and recruiting…Read More

Posted in: Community | Companies | Helpful Tips | News

Why does the tax year run from April to April?
  • Why does the tax year run from April to April?

Ever wondered why the tax year starts on the 6th of April and ends on the 5th of April the following year? Most logical thinkers would question as to why the tax year doesn’t coincide with the calendar year than runs to the 31st of December. In order to get to the bottom of this,…Read More

Posted in: Allowance | Companies | News | Pension | Tax | VAT

Pension Annual Allowance
  • Pension Annual Allowance

The annual allowance is a limit on the amount that can be contributed to your pension each year, while still receiving tax relief. The annual allowance is used up through gross pension contributions from you or your employer. The amount will depend on your earnings; the rule is that you’ll get tax relief on pension contributions of up to…Read More

Posted in: Helpful Tips | News | Pension | Tax

Open Banking Update
  • Open Banking Update

Understanding Open Banking Customers are normally required to grant consent to let the bank allow such access, such as checking a box on a terms-of-service screen in an online app. Uses might include comparing the customer’s accounts and transaction history to a range of financial service options, aggregating data across participating financial institutions and customers…Read More

Posted in: Community | Companies | Helpful Tips | QuickBooks

Dependent Relative Relief
  • Dependent Relative Relief

‘Dependent relative’ is defined as any relative who is unable to look after himself or herself. Dependent relative relief only applies on a property used by the relative before 5 April 1988, providing that this was the main residence of the relative. Should there have been a change of occupant after 5 April 1988 the…Read More

Posted in: Allowance | Community | Tax

Student Loans
  • Student Loans

Many of you may have been to university and fear the day that Student Finance will come knocking at your door, asking you to repay that rather hefty student loan. This blog will aim to target the most common questions that we are asked regarding student loans and will concentrate on students that studied in…Read More

Posted in: Community | Loans | University

Robert Kiyosaki

The word accounting comes from the word accountability. If you are going to be rich, you need to be accountable for your money.

Robert Kiyosaki