Tax Saving Accountants

The Impact of AI on SME Accounting

Accountancy firms have always endeavoured to provide value, and tailored financial advice to their clients. Stonehouse Accountants is no exception. The constantly evolving, accounting landscape puts enormous pressure to provide timelier and increased data quality to HMRC. 5 years down the line from the birth of the Making Tax Digital (MTD) initiative, HMRC is making […]

accounting and bookkeeping difference
Tax Saving Accountants

The Differences Between Accounting And Bookkeeping?

For those unfamiliar with the financial sector, certain terminology and its interpretation can be somewhat mindboggling. Bookkeeping and accounting, for example, are often seen as being much of the same process. Though it is true that each role engages with the analysis of financial data, a certain level of accountancy skills, and the proficiency to […]

Construction-workers-gathered-to-discuss-building-plans
Tax Saving Accountants

What Does The VAT Reverse Charge Delay Mean For Construction?

The government settled the domestic VAT reverse charge for building and construction services back in September this year, but it is said to have been delayed by a year and won’t go ahead until 1st October 2020. In this post, we will discuss what compromises the VAT reverse charge, the reasons for the delay and […]

Tax Saving Accountants

Making Tax Digital (MTD)

You may have heard about the recent changes to the way VAT must be reported. In April 2019, HMRC introduced Making Tax Digital (MTD). The main change with this new piece of legislation is the way your VAT returns are filed online. If your company is turning over more than £85,000 you are now required […]

surprised and confused solicitor
Tax Saving Accountants

Strange Tax Laws From Across The Globe

Unsurprisingly, tax laws are often born with the ulterior motive of provoking social changes, or for a few extra pennies in the revenue pocket. Frequently, these come with undertones of absurdity. Stonehouse Accountants dives into some of the weird and wonderful tax laws that have ever been created across the world.  Tethered Hot Air Balloon […]

calendar showing tax deadlines
Tax Saving Accountants

Defining Annual Deadlines From an Accountancy Perspective

When it comes to the financial sector of business, it is important to be rigorously aware of the different annual deadlines. But remembering and understanding the Financial, Tax, Fiscal and Accounting years is complicated!  Each category owns varying relevance depending on your business. Stonehouse has produced this blog to explain the differences, and of which […]

small businesses uses tax benefits to watch their money grow
Tax Saving Accountants

Tax Incentives for SMEs You Need to Know About

During the early development period, while establishing your Small to Medium Enterprise (or SME), every penny counts. You want to carve yourself an edge against competition in the industry as you fulfil a dream of owning a successful business.  It is, therefore, an intelligent approach to consider all the ways in which you may reduce […]

Folders displayed as a computer screen
Tax Saving Accountants

Making Tax Digital – The Impact on VAT

As of April this year (unless deferred, in which case from October 2019), it became a law that businesses labelled VAT-registered must turn to digitised methods to maintain VAT records. This is a branch from the Government’s goal of Making Tax Digital by 2020. The impression here is that going digital will provide more effectiveness, […]

An example of the Digital Age in the context of the Accountancy Industry.
Tax Saving Accountants

The Future of Accountancy in the Digital Age

Manual bookkeeping, human data entry, tax preparation processes, hours of paperwork… procedures that belong to a traditional understanding of Accountancy tasks that are approaching a swift finale.   The long hours spent chasing and collating clients’ financial figures, information gathering and filing, and a paper chase with HMRC, pose the systems that belong to ‘yesteryear’. […]

Tax Saving Accountants

How to Get Ahead in the New Financial Year

Well firstly, as the financial year end comes around, checking your accounts are ready will save you a lot of time in the long run as many businesses begin to think about what to do first. Starting to prepare ahead of time is a great idea. What does ‘year end’ actually mean?   Your Year-End […]

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