Five things you need to know about Corporation Tax

What is Corporation Tax? Corporation Tax is the main tax a limited company pays. It’s paid on annual profits, investments and on any gains from selling assets (e.g. land, property or shares) that have increased in value.  What are the Corporation Tax rates? The rate of Corporation Tax that you need to pay depends on […]

Everything you need to know about P60s

A P60 is an important document which summarises an employee’s tax information in a given year. By exploring the P60 in more detail, we’ll explain all you need to know from required information to deadlines. What is a P60? A P60 is a detailed statement of income earned, Tax Deducted at Source (TDS) and National […]

How an accountant can help to reduce financial stress

Having the ability to manage stress as a business owner is hugely important in building the success of your business and avoiding burnout. April marks Stress Awareness Month, a time to reflect on what could be causing stress and how it can be relieved.  A key part of managing your business is keeping your finances […]

A guide to starting the 2024/25 financial year on the right foot

Starting the new financial year on the right foot will set you up for the rest of the year and lend you a helping hand in meeting business objectives.  The start of the financial year brings an opportunity to make your business more profitable and efficient than the previous year, so it’s a good time […]

Outsourcing your payroll function

Ensuring that your employees are paid accurately and on time is essential. Bringing in the payroll experts is one of the easiest ways for you to focus on the day-to-day running of your business and save yourself time and money. Managing payroll in-house It’s no secret that managing payroll is time consuming; it requires you […]

Explaining the ‘side hustle tax’

Digital platforms such as eBay, Etsy, Airbnb, Amazon and Vinted are now required to share seller information with HMRC, as of 1 January 2024.  Under the new rules, HMRC will receive a breakdown of revenue generated by platform users, which HMRC will use to match up against submitted Self-Assessment tax returns to ensure that the […]

Switching your accountant: Why, when and how

Behind every great business is an equally impressive accountant. Having a good relationship with your accountant can be your business’s secret weapon, helping you to manage your financial portfolio and navigate opportunities.  An important part of this relationship is the ability to recognise when it’s working well and when it isn’t. If you’re experiencing the […]

Basis Period Reform: How it impacts you and your business

If you’re a sole trader or partnership that uses an accounting date between 6 April and 30 March, the way HMRC assesses your profits is changing.  From 6 April 2024, you will be required to report your business tax information to HMRC using the tax year running from 6 April to 5 April, regardless of […]

Choosing an effective employee benefits strategy

Employee Benefits has reported that 59% of British workers are unhappy with their benefits packages, with many planning to look for new jobs in the next six months. According to research by the British Business Bank, it costs £3,000 on average to hire a new employee. This is a significant cost, especially for small businesses, […]

Five things you need to know about Self-Assessment tax returns

Filling in your tax return can seem daunting, especially if you haven’t completed one before. With the Self-Assessment tax return deadline looming, we’ve outlined five things you need to know about the all-important tax return to ensure you’re paying correctly and on time. 1. What is Self-Assessment? So, you need to report your taxable income […]