Blog

After a backlash from the public that the proposed support for the coming months was too frugal, the Chancellor updated the future support schemes for businesses, employees and the self-employed. Self-Employment Income Support Scheme Grant Extension Two further grants covering the periods November 2020 to January 2021 and February 2020 to April 2021 were announced…Read More

We suspect that many of you have been working from home over the last few months due to obvious reasons. Did you know however that by working from home you can save money in tax? HMRC have a scheme in place which helps you cover the seemingly higher costs of working from home such as…Read More

One of the many features on QuickBooks Online Plus is the ability of tracking stock. This is helpful for those who need to track the level of stock in their inventory. Using this feature allows users to be alerted when a stock reaches low capacity, track storage levels, and gain insights on what is bought…Read More

We will talk you through how to set up your HMRC account, so you are ready to submit your capital gains liability to HMRC. There have been some changes to the rules since 6th April 2020- individuals who are due to pay capital gains tax on UK residential property disposals have 30 days after the…Read More

Implications for breaking fundamental laws One of the most high-profile charities was in the news for not following fundamental charity laws. Upon investigation, the Charity Commission found that trustees of The Prince Andrew Charitable Trust had breached charity law overpayments to a trustee, which could have resulted in the loss of public funding of over…Read More

QuickBooks offers two different mobile versions of their services, one for self-employed and one for small businesses. This is easily accessible through google play or the app store, therefore you can access it on iPad, tablets, smartphones as well as the browser version. No need to set up a new account just use the credentials…Read More

Extra Help for Small Business Owners Here are 5 extra support offerings for small business owners announced on 24th September 2020 The Government has extended the 15% VAT cut for the tourism and hospitality sectors to the end of March next year. Businesses who deferred their VAT between March & June 2020 will no longer…Read More

Some Quickbooks users may have noticed that over the last couple of months that the banking tab is looking a little different. There have been a few changes to help make managing transactions even easier.As well as some obvious cosmetic differences, there are a few new features that you may have missed: 1. Simplification of…Read More

Coming into PJCO I had very little knowledge on what an accountancy firm looked like and ran however from being here for only a few days I have already been shown just how different my expectations were. Before coming to PJCO I believed that accountancy was just for processing all the numbers on an outdated…Read More

I’ve had the honour to spend the last few days taking part in work experience at PJCO and have learnt so much from so many amazing characters in such a short time. Before arriving, I had very little idea what an accountant did or how an accountancy firm would operate. I’ve gained so much knowledge on finance, tax, national insurance, marketing and advertisement, software, and…Read More

With the VAT flat rate scheme, you pay a fixed amount of VAT on yourgross turnover, the actual percentage you use will depend on the typeof business.To start using the Flat Rate Scheme your business taxable turnoverhas to be £150,000 or less.You must leave the scheme if your turnover is over £230,000 includingVAT.You will then…Read More

It’s a digital world – The next step for MTD We have already had the first big move in Making Tax Digital, with the transition of nearly all VAT registered companies with a turnover of over £85,000 being forced onto digital software such as QuickBooks or being made to use bridging software, keeping an online…Read More

What has happened? On the 8th July 2020, the UK government announced that it would be introducing a temporary reduction in the rate of VAT for certain supplies of hospitality, holiday & hotel accommodation and admissions to certain attractions. They will be slicing the rate of VAT payable from the normal standard rate of 20%…Read More

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

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