Tax Saving Accountants

Greener Future: Company EV Tax Exempt In 2020/21

As we enter a new decade, it is becoming more and more evident that we are in an environmental crisis. This justifies the sales of electric vehicles which rose by 144% in 2019, followed by a major decline in the popularity of diesel-fueled cars. This has triggered the government to cut down on their attempt […]

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 […]

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 […]

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 […]

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 […]

Tax Saving Accountants

7 Tips To Avoid A Cash Flow Crisis

Keeping track of what money is coming in and going out of your business is essential. Whilst cash flow and profits are both crucial aspects of a business – they should not be confused as they’re not the same. Cash flow vs. Profit The difference between the two is the difference between success and bankruptcy. […]

VAT application form and calculator
Tax Saving Accountants

VAT Registration: Who Needs it and How to Register

Everything a new or small business needs to know about VAT Registration If your business meets certain criteria then you will be expected to register for VAT. Even if you are not required to, it can be beneficial for some businesses. Here we explain to both new and small businesses what the criteria are for […]

Tax Saving Accountants

Report Reveals UK Tax Burden 18% Higher than Global Average

The UK tax burden as a share of the economy is close to a fifth higher than world averages, which may impede growth and stifle entrepreneurship, a new report has claimed. Tax revenue is 32.9% of the GDP, compared to 27.8% which is the worldwide average. This makes the tax level in the UK several […]

Tax Saving Accountants

Labour Planning a Crackdown on “unfair tax breaks”

The UK Labour Party has promised to crack down on unfair tax breaks, which are used by private-equity and hedge funds, in an attempt to win over voters before the election in May. Labour has also reiterated its plants to introduce a levy for bankers’ bonuses, which would see funds going towards a youth employment […]

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