Tax Saving Accountants

2018 Autumn Budget: The Last Budget Before Leaving The EU

The 2018 autumn budget has been released by chancellor Phillip Hammond, making this the last budget before Britain leaves the European Union. In this article, we will be rounding up the key announcements of the 2018 autumn budget. Tax Rates & Bands Chancellor Phillip Hammond announced he will be pushing on with increasing the basic […]

making-tax-digital
Tax Saving Accountants

How Will Digital Tax Affect Your Business

Digital tax is now less than a year away. In this article, we will cover what business owners need to know about making tax digital, as well as guiding you through the steps in order to prepare for the enormous change. HM Revenue & Customs (HMRC) is moving forward to become the most digitally advanced […]

Tax Saving Accountants

Self-Employed Tax Cut Dismissed by the Government

There was hope for the 2.7 million self-employed workers when plans were put in place to remove Class 2 National Insurance Contributions by April 2018. After already being delayed by a year, this September the government have announced this will no longer be happening. This action was expected to save millions of self-employed workers around […]

outsource accountants
Tax Saving Accountants

Why You Should Outsource Your Business Accountant

Often, new or small businesses consider using an internal team to manage their finances. This may be suitable for some businesses, however, we have chosen what we believe are the 4 most important reasons to why outsourcing your accountant will extremely benefit your business.   Put your time into what you’re an expert in Managing […]

Changing accountants
Tax Saving Accountants

Advice for Changing Accountants

There can be countless reasons why a business may want to change their accountant. A common reason for this is – your business is outgrowing your current accountants and the workload is too much for them to deliver your requirements on time. When it comes to money, business owners tend to worry, and they have […]

SME's late payment
Tax Saving Accountants

Why are small businesses spending £5,000 per year chasing late payments?

A recent study showed that almost 75% of all small businesses in the United Kingdom spend an average of 9 days per quarter chasing money they are owed by customers or clients. Taking the average hourly wage in the UK, this converts into the cost of £5,000 per year for a business. The study revealed […]

GDPR Consequences
Tax Saving Accountants

What are the consequences of GDPR?

On the 25th of May 2018, the new General Data Protection Regulation (GDPR) will officially be enforced across the whole of the European Union. This will also affect all businesses outside the EU if they are to deal with EU citizens’ data. What is GDPR? The digital world has excelled since the Data Protection Act […]

New Tax Year
Tax Saving Accountants

How will the new tax year affect you?

As of today (6th April 2018) the new tax year has arrived. With this bringing changes for millions of people, it’s important to understand how this will affect you. Changes to tax free income, pension limits and death duty are just a few that will come into place today. Most UK residents will also see […]

Allowable expenses
Tax Saving Accountants

Allowable expenses – Simplified for Business Owners

Understanding that you can’t subtract all of your self-employed expenses is imperative. HM Revenue and Customs (HMRC) has clearly stated what you can and can’t include, expenses that are eligible to be tax-free are known as ‘allowable expenses’. HMRC has defined allowable expenses to ensure that business owners understand that they can only take away […]

Tax Saving Accountants

Inheritance Tax – Our Simple Guide

What is it? Inheritance tax is a taxing of the estate of someone who has just died. Inheritance tax only occurs on any inheritance above the threshold of £325,000. If the value of your estate is above this threshold, known as the nil rate band (NRB) of £325,000; then the part of your estate that […]

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