What interest can you charge on late payments?
What interest can you charge on late payments? From time a customer may pay you late, and you may be ok with that. But when the problem becomes persistent, it can effect your own cash flow and the…
HMRC raises £16 for every £1 it spends investigating small businesses and individuals
According to a new study by Pinsent Masons, HMRC raised £16 for every £1 it spent on staff on tax investigations looking at small businesses and individuals. The figures show that HMRC were able to collect £4.9bn in…
Connect your Metro Bank account to Xero
Metro Bank has made it even easier for you to connect your bank accounts to your Xero account for automatic feeds. The video from Metro Bank at the bottom takes you through how to connect to Xero step by…
Parents who lose a child will receive two weeks’ paid bereavement leave
From April, parents who lose a child will be entitled to two weeks’ paid bereavement leave under new government rules. The UK is the only country at this time to have bereavement leave enshrined in law, and it…
What’s the difference between accounting profit and taxable profit?
Many people don’t realise that there is a difference between accounting profit and taxable profit – and that they are very rarely exactly the same figure. Lots of business owners arrive at their accounting profit – thinking it’s…
National living and minimum wages to rise in April
Both the National Living wage and National Minimum wage are set to rise from April. The National Living wage and National Minimum wage is set to rise by 6.2%, four times the rate of inflation, in what the…
Issues with Xero bank feeds
Some Xero users have been experiencing bank feed issues since the changes that came in at the end of last year. Xero changed how its bank feeds work late last year to comply with new EU regulations, and…
Rising self employment results in a drop for the income tax take
A continuing rise in self employment has resulted in a drop in the income tax take in every region of the UK. 12% of the UK is now self employed and those that are could earn the same…
Xero increases its users by 51% in just six months
Xero has increased its number of UK users and turnover by 51% in the last six months. The large increase is largely being credited to users making the switch to Xero in order to meet HMRC’s Making Tax…
Business gifts for Christmas
Thinking of giving a business gift for Christmas? It’s not long until Christmas and you might be considering giving a Christmas gift or treat to your team or customers. But before you do, it’s worth considering the tax…