Author Archives: admin

A relief for rollover What do land, buildings, furnished holiday lets, goodwill, fixed plant and machinery, fish, milk and ewe and suckler cow premium quotas, farmers income support payment entitlements, Lloyds underwriters rights and assets, ships, aircraft, hovercrafts, satellites, spacecraft and space stations have in common? If businesses use any these assets in their trade […]

In this blog you will learn about the forthcoming changes in the basis periods for the self employed and partnership and how that could give you a tax headache. The basis period is changing so that from April 2024, unincorporated business will be taxed on a tax year basis instead of an accounting year basis. […]

When will the Late Submission Penalty (LSP) regime start? From 1st January 2023 for VAT. From 6th April 2026 for those self-employed and property landlords who will be caught by Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). From 6th April 2025 for those taxpayers caught up within the SA Return system.  How will […]

Introduction If you’re a mobile caterer in the UK, you may be wondering if the VAT Flat Rate Scheme (FRS) can benefit your business. In this blog post, we’ll explore the advantages of the FRS for mobile caterers, helping you understand if it’s the right option for you. Simplified VAT Calculations The FRS offers a […]

We would like to share with you the following funding that is currently available. BUSINESS DEVELOPMENT GRANT – up to 50% funding This grant is aimed at SMEs paying rates to Birmingham City Council and covers: – Relocation, expansion and growth of existing business. Develop new markets. Promotional activities Innovation Improving systems and processes Plant […]

In this blog you will learn about the tax implications of having an overdrawn directors’ loan account. What is an overdrawn director’s loan account? An overdrawn director’s loan account is simply money that a director or a participator in a close company has taken from the company which has not been taxed under PAYE or […]

Learn in this article how to provide your team with some festive cheer and financial reward throughout the year in a tax efficient way.  Trivial benefits are a way in which you can reward members of your team without incurring any tax liabilities for the employee.  As an employer you can provide your employees with […]

Energy Price Guarantee and Cost of Living Payments This particular Scheme will apply to England, Scotland and Wales. A parallel scheme, based on the same criteria and offering comparable support, but recognising the different market fundamentals, will be established in Northern Ireland. From 1 April 2023 until 31 March 2024 the typical household will pay […]

This particular Scheme will apply to England, Scotland and Wales. A parallel scheme, based on the same criteria and offering comparable support, but recognising the different market fundamentals, will be established in Northern Ireland. The Scheme will see wholesale energy prices for all businesses capped for six months from 1 October. Hospitals, schools and other […]

In this blog you will learn how successful business plan to ensure success and the steps that every business owner needs to take to give them the best chance of success. It is a proven fact that business who engage in cash flow forecasting and sales forecasting improve their financial performance. Why? Well, having this […]