Yesterday the Government gave this year’s first budget update. Here are some key points which may affect you: Measures to mitigate the effects of Coronavirus: £12 billion package of tax and spending measures including grants and hardship funds for people a businesses affected. Statutory Sick Pay to be payable from first day’s absence and fully funded by […]

My Mate says… ‘I can raise funds for my business through the Enterprise Investment scheme (EIS)’ EIS is one of the four venture capital schemes, it is designed so that your company can raise money to help grow your business. You must receive investment under a venture capital scheme within 7 years of your first […]

My Mate says… ‘I should start preparing for the end of the personal tax year’. The end of the personal tax year is the 05/04/2020 and now is the time to ensure that you utilise any available tax allowances and/or exemptions. Failure to do so may result in you losing it for the 2019/2020 tax […]

My Mate Says… ‘I don’t have to charge VAT on food that is delivered cold to my customers’. Under VAT notice 709/1, cold takeaway food and drink is zero-rated for VAT, if it’s not of a type of food that is always standard rated such as crisps, sweets and beverages. If food comes out of […]

Xerocon 2019 was a great experience! Xerocon is an annual conference hosted by Xero, which is the fastest growing accounting software. This year was their biggest event so far, with thousands in attendance and a record 70 app providers hosting stands. A month on from the event, we have reflected on the theme of Xerocon […]

Currently you can personally receive up to £1,000 tax-free interest each tax year. This limit is reduced to £500 for a higher rate taxpayer and nil for an additional rate taxpayer. This means that any interest you receive, such as bank interest, may not be taxable if it is within the above thresholds each tax […]

An introduction to mental health issues in the work place. Presented by Phil Croney & Matthew Hoddinott. We are extremely pleased to host Matthew and Phil on Thursday 23rd January. Running a small businesses can be challenging. It can often be a lonely experience and there isn’t much in the way of training for dealing with or recognising […]

Your friend is correct, your Limited company can pay into your pension scheme as an employer contribution. How much should I pay? Unlike personal pension contributions, employer pension contributions are unrestricted, however there are limitations for the tax relief. Corporation Tax relief: The contributions from your Limited company can be a tax-deductible expense so you […]

You’re an expert in your chosen area of work and your efforts are devoted to making your business work! This may mean that you do not have spare time to research and understand the many accounting/tax terms which are commonly used by accountants and other import elements of running a business. It’s almost like learning […]

My mate says as I’m a director I can buy myself gifts from my Limited company… You work hard for your company and feel like you deserve to buy yourself a treat. The good news is, yes you can! The bad news is, there are rules and limits. Trivial benefits Under the Trivial benefit rules, […]