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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…

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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 –…

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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…

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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…

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HMRC to receive more information from online selling platforms

It has been announced that HMRC will be receiving more information from online selling platforms such as eBay, Vinted and AirBnB to ensure that people are paying the correct amount of tax. HMRC has always been allowed to…

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Autumn Statement 2023

Today the Chancellor of the Exchequer, Jeremy Hunt, presented his Autumn statement. Below we break down the keep points and how they will affect you and your business. National Insurance and wages Economy and growth Business tax and…

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Business gifts for Christmas

Are you thinking of giving a business gift for Christmas? If so, make sure you know the tax implications before it ends up costing you more than you originally thought. Christmas is not that far away and you…

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HMRC adds over 3,000 new compliance staff

In a bid to reduce fraud and error, HMRC have employed over 3,000 new staff in it’s compliance department since the end of the 21/22 year, an increase of 12% in just one year. A report by the…

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Is the Christmas party tax allowable?

It may only be October, but many of us will have already booked our work Christmas parties and functions to celebrate. But what are the costs to your business of the Christmas party and what is tax allowable…

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Can you borrow money from your limited company?

The simple answer is yes, but there are tax consequences so it’s important you understand what you are doing. From time to time Directors of a company may wish to to borrow money from the business and take…

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