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Many businesses are unaware of invoice fraud risk

According to a survey by banking trade body UK Finance, more than four in ten businesses are unaware of the risks of invoice fraud, even though such scams cost firms almost £93m in 2018. The fraud happens when…

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What does my tax code mean? 2019/20 edition

What exactly do all the numbers and letters in my tax code mean?  And what do I do if I think it’s wrong? HMRC generate your tax code based on the information that they hold about you and…

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What is a P11D and do you need to complete one?

What is a P11D? The P11D form is a statutory form required to be filed with HMRC by businesses that detail benefits paid to their employees and the cash equivalents of those benefits. You will also need to…

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Information to keep for your tax return

The 2018/19 tax year ended a few weeks ago on 5th April, 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…

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How cold can it get before I can leave work?

With winter now in full swing and the accompanying cold weather with it, we have seen many people ask “how cold can my office get before I can go home?” Firstly, there is no specific law that outlines…

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The weirdest excuses for missing the personal tax deadline and the most dubious expense claims

With just a week to go before the deadline for filing self assessment personal tax returns for 2017/18 on 31st January, HMRC has released its list of the weirdest excuses given to them for missing the cut off.…

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Pension contributions change from April 2019

Auto enrolment pension contribution rates will rise from April 2019. Currently, the minimum pension contributions to an auto enrolment pension scheme is 5% of qualifying earnings, with at least 2% of that coming from the employer. From 6th…

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We are now Certified Receipt Bank Advisers!

We are happy to announce that we are now Certified Receipt Bank Advisers! Along with Xero, we have always been big fans of Receipt Bank and becoming Certified Advisers shows our ongoing commitment to helping our clients, existing…

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Small businesses are owed an average of £25k in late payments

New data released by Xero has shown that the average small business in the UK is owed £24,841 in overdue payments on any given day,  and 78% of the businesses were owed money outside the agreed payment terms.…

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How can I improve my business cash flow?

Many businesses, particularly in the early years, struggle with cash flow – there is more going out than coming in – but this cannot carry on forever.  Most businesses that go bust do so because of lack of…

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