Blog Archive for 2019

This article considers the possible tax landscape under a Boris Johnson government and how certain tax issues are likely to impact small businesses.

Making Tax Digital (MTD) is changing the way UK businesses, accountants and bookkeepers do their taxes. Here's a quick overview on how to register for Making Tax Digital and integrate AccountsPortal with your MTD account.

The end of the year always marks an opportunity to reflect on the past 12 months, and think about what lies ahead come January.

A recent announcement from HMRC may mean that the need to have digital links in place is postponed for even longer for certain businesses.

This guide explains what the IR35 legislation is, and highlights key aspects of the upcoming private sector reforms, as well as what contractors can do to get prepared for the changes.

If you’re a small business one of the most important accounting decisions you can make is whether to choose the cash or accruals basis to prepare your accounts.

While research and development (R&D) relief in the UK is generous for small, medium, and large enterprises, concerns have been raised that the regime for small and medium-sized enterprises is susceptible to abuse.

As a result, the government is considering restricting the amount of payable tax credit a company may receive.

Flexible working covers a wide range of different working arrangements that don’t fit within the "9-5" image people often have of working.

Recently, some significant changes have been made to capital allowances in the UK, which could provide more upfront tax relief to certain businesses.

Read more to find out if you can benefit from the increases that are available.

In May 2019, the Office of Tax Simplification (OTS) published a report "Simplifying Everyday Tax for Smaller Businesses". Following on from an earlier April 2018 OTS business lifecycle review, this latest report looks at smaller businesses, specifically businesses with fewer than 10 employees and an annual turnover of less than £2 million, and how their experience with tax can be simplified.

While IR35 has been around since 2000, the legislation has increasingly been in the public eye due to a number of high-profile IR35 cases, as well as recent reforms to how IR35 is applied in the public and private sector.

This renewed attention on IR35 has highlighted how difficult it can be to interpret this area of legislation correctly, which is disconcerting given the upcoming reforms to the private sector.

This step-by-step guide outlines the financial and reporting implications of running a business, from how to appraise your business idea at its inception to keeping track of your finances as you start bringing in customers.

Companies House and the Department for Business, Energy and Industrial Strategy recently published a consultation "Corporate Transparency and Register Reform". These reforms, if introduced, would represent "the biggest changes to the UK system for setting up and operating companies since the UK company register was created in 1844."

The Chancellor of the Exchequer presented the Budget 2018 to Parliament on 29 October 2018. In this article, we'll explore the announcements around capital gains tax, specifically in relation to Entrepreneurs’ Relief (ER).

With only months to go before Making Tax Digital for VAT launches, there’s never been a better time to make sure your business is prepared for the upcoming changes to record-keeping and VAT return filing, which includes checking that your business has the appropriate software in place.

One of the least exciting aspects of running a business is doing the bookkeeping. While looking after the numbers is rarely anyone’s idea of a good time, it’s important to be aware that having an out-of-date or inefficient accounting system to keep track of your financials could be doing more harm than good to your business’ long-term growth prospects.

There’s a good chance that your business could benefit from new online cloud accounting software.