Make This The Tax Year to Improve Your Business Finances

I think you’d all agree that we would all like to be better organised when it comes to business finances. We’re a month into the new tax year and if your small business has yet to make improvements for the year ahead to help improve your business finances, now is the time to act before it is too late and the tax year is coming to a close. The last thing you want to do is miss out on tax brea… Continue Reading

Five accounting mistakes that could put your company at risk

Accounting mistakes can be some of the most damaging events to happen to a company, whether it is a new start-up or a well-established firm. In some cases, accounting mistakes can compromise the future of a business. This is why, no matter the type of company you run or the size of your business, you need to handle accounting with care, accuracy, and professionalism. Read on to discov… Continue Reading

Is this year’s budget a budget for small businesses?

A few weeks ago, George Osborne, the Chancellor of the Exchequer, revealed the 2016 Budget. As to be expected, the budget has come under criticism from a number of different parties. However, small business owners as a whole were not being critical. Osborne revealed that this year’s budget was designed to put the next generation first. It has even been labelled as the budget for sma… Continue Reading

Why good accountants are essential for start up survival

When first starting out in business, it is important to keep your costs as low as possible. After all, there are so many different things you need to fund, and things can soon spiral out of control if you are not careful. Nevertheless, one thing you should certainly invest in to ensure your start up survival is a good accountant. This may cost you a bit of money in the beginning, but it can… Continue Reading

UK businesses are struggling to sell products overseas

A recent report has revealed that a large proportion of businesses in the United Kingdom are struggling to sell products overseas. This may come as a shock to many, as demand for British goods seems to be higher than it has ever been. So, where does the problem lie?   The report released by PayPal, which was conducted by Ipsos MORI, revealed that just under half (44 per cent) of Bri… Continue Reading

Are You Entitled to R&D Tax Credits?

As London accountants we understand that the whole area of Research & Development tax credits can be confusing because there are a range of different conditions attached to any potential entitlement. The size of the company (in terms of employees and turnover) affects any entitlement so there are different rules for SMEs and Large Companies as defined by HMRC but, just to add… Continue Reading

Top Ten Tax Tips For SMEs

Of course all businesses want to make sure they are handling their tax effectively and benefiting from all of the reliefs and exemptions that are available to them. However, this is arguably even more important for SMEs, who tend to have smaller budgets and fewer resources to be able to handle everything in-house.

So take a look at these ten best tax tips for SMEs in particular:

Resea

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The Most Common Payroll Mistakes

Payroll can often be trickier than small business owners initially imagine but having an effective payroll system in place is imperative when it comes to ensuring your business is well organised. Here are some of the most common payroll mistakes made by SMEs when they don’t ask their accountants to handle it for them so make sure you avoid them…  

Missing Deadlines

You c… Continue Reading

Potential repercussions of the new VAT regulations

As of January 1^st VAT laws changed in the EU. Prior to 2015 VAT was applied in the country where the product was sold. However, laws have changed and now EU VAT will be charged in the country where products are bought. This legislation applies to digital products only, i.e. downloads, online courses and e-books.   The reason for this new tax law is to try and crack down on major corp… Continue Reading

VAT for small businesses

What is the definition of VAT?

Value Added Tax is a tax that suppliers of either goods or services charge on top of the cost of the goods or service and is something often handled by a specialist business accountant. There are four different VAT categories depending on the type of goods and services supplied.

Who is exempt from paying VAT?

Education, finance, insurance, doctors and d… Continue Reading