Do you need to charge VAT on recharged expenses?
Clients often ask us if they need to charge VAT on the expenses that they recharge onto their own customers. The simple answer is yes, you charge VAT if you benefit from the expense, and no, you don’t charge if…
Information to keep for your personal tax return
The 2023/24 tax year ended on 5th April 2024, for which many of us will need to produce and file a personal tax return . To make things easier, here is our list of the information you need…
What is a P11D and do you need to file one?
What is a P11D? The P11D form is a statutory form required to be filed with HMRC by those businesses that provide benefits to their employees that do not go through the PAYE system. You will also need…
Do you need to file a personal tax return for 2024?
The 2023/24 personal tax year ended on 5th April and we are now in the 2024/25 tax year. Every year we are asked the same thing – ‘Do I need to fill in a personal tax return?’. Here…
Does your business need a music licence?
Many people do not realise that even though they are not in the music or performance industries they still require a music licence for their business. The Performing Rights Society (PRS) ensures that writers, performers and producers of music…
Top Ten bookkeeping mistakes (and how to avoid them)
Here are our Top 10 Bookkeeping mistakes and how to avoid them This seems obvious, but there are people still leave everything to the last minute and let the bookkeeping build up. We know you didn’t go into business…
UPDATE: The changes are being delayed – HMRC to close and reduce customer helplines
From the 8th April HMRC will be changing the operating hours of its customer support helplines – in some cases closing them entirely – in an attempt to push customers to use online services more. Self assessment –…
The Top Ten Things to consider when choosing your new accountant
Whenever potential new clients approach us, it is often because they are not happy with their existing accountant, or because they are a new business and don’t know how to choose one that will suit them and their…
What mileage can you claim through your business?
We often get asked the question what business mileage our clients can claim back, and what tax they will have to pay on it if they do. Below we break down the differences between business mileage and private…
HMRC is targeting undeclared dividends
HMRC is looking into undeclared dividends to ensure that income tax is not being missed out on. They have written to the directors of companies where despite profits being made, the balance of distributable profits has fallen, suggesting…