When Might HMRC Demand a VAT Security Deposit?
The vast majority of businesses pay their tax bills on time however, any that are finding it hard to make payment in full and/or on
Accounting, Tax & Business Blogs
Explore expert accounting, tax, bookkeeping, and business advice from across the UK. Get practical tips, financial insights, and the latest updates to help you manage your finances and grow your business.
What are Statutory Accounts? A Short Guide
If you’re a limited company owner in the UK, you are legally responsible to file statutory accounts on annual basis. As a small and medium-sized
New Furnished Holiday Lets – Applying the Test
All business must start at some point, and a furnished holiday lettings (FHLs) business is no exception. Unlike other rental properties, furnished holiday lettings enjoy
What’s the Difference Between Turnover vs Profit in Business
Turnover and profit are the most commonly used words in the business world. But what do they indicate? How they are different? How to calculate
Working out the Capital Gain on the Sale of an Investment Property
If you sell a property that has not been your main residence throughout the period that you have owned it, you may need to pay
Gifting Property to the Children
No one likes the idea of the taxman taking a chunk of their estate when they die, particularly if it will be necessary to sell
Making Mileage Payments to Employees
As the country emerges from the Covid-19 pandemic, business travel is once again on the agenda. Where employees undertake business travel, they will usually be
Do I Need to Register for VAT?
You must register your business for VAT if your VAT taxable turnover exceeds the registration threshold. This is currently £85,000. You must register if: at
Pension Annual Allowance – Making Tax Relieved Contributions
Tax relief is available to encourage individuals to make contributions to registered private pension plans. However, while there is no limit to the amount that
What is Turnover And How to Work Out Business Turnover?
Understanding what turnover means is essential for every UK business owner, whether you’re running a small startup or managing company accounts. But what is turnover,
Collection of Tax Debts Post Covid-19
During the Covid-19 pandemic, HMRC paused much of their tax collection work, both to allow resources to be diverted to other activities, such as administering
What are Articles of Association? Do They Matter?
Are you setting up a company? And wondering what the articles of association are? They are legal documents that set out how a company will
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