When your parents or grandparents have to move into a care home the dilemma for many families is how they are to afford the fees that such a requirement dictates. Rent One of the most common answers to this dilemma is to rent out the residential property that their loved one has moved away from.…Read More
How to show that your project is R&D within the tax definition When you submit a claim, it helps if you give details of your project. The questions below will help you decide if your project is within our definition of R&D. If your claim clearly sets out how you approach these questions, it helps…Read More
R&D Tax credits is a scheme designed to maintain Britain’s global reputation for innovation. Encouraging business’ to grow, expand, and reach their full potential by increasing their spending in Research & Development. What counts as Research & Development? To qualify for R&D Tax Credits, the work undertaken must be part of a specific project to…Read More
In recent years Bitcoins, and other such cryptocurrencies, have become very lucrative investments nationally and globally. However, many are unaware of the tax implications within the UK of such investments. As a result, we have written a brief guide to help you ensure that you stay compliant with HMRC. VAT Implications As laid out in…Read More
Valentine’s day is different this year…., We will be experiencing the date night out- as the date night in, starring a three–course microwave meal and a ticket to the sofa cinema! In recent years, studies highlighted that over a million people got engaged on Valentines Day. With the current pandemic, who knows whether that will go higher or lower……Read More
Homeworking expenses include supplies used in order to complete your work. Computers and other technology Furniture Internet Access Homeworking allowance for an employee only applies to expenses that are completely necessary and exclusively in the performance of employee duties. In other words, you cannot proportion expenses for personal and business use. Currently, HMRC allows a…Read More
The homeworking allowance allows you to claim back certain expenses to cover the costs incurred when working from your home. These include: Room space Gas and Electricity Phone Bills Exempt expenses would include anything that is for personal use. Method 1 – Apportion actual costs As a self-employed individual working from home, you can choose…Read More
If you take security deposits from customers then you will need to record them down so you know what you hold for different customers. QuickBooks makes it easy to record these so you can see at any time what you hold for each customer. This blog deals specifically with deposits that are intended to be…Read More
Beware of little expenses; a small leak will sink a great ship.
Benjamin Franklin
