With the effects of the coronavirus pandemic leaving many people short on funding, some have turned to side businesses to provide them with extra funds to make up for their financial losses. Continue reading
Category Archives: Business Blog
What is RTI for Payroll?
Whether you employ one worker or one thousand, Real Time Information (RTI) for payroll helps businesses stay on top of compliance and ensures employees pay the correct amount of tax.
OTS to consider “benefits and implications” of moving tax year end date
The Office for Tax Simplification (OTS) will explore whether there is a case for moving the UK’s tax year end date.
Now is the time to prepare details of your taxable benefits
The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.
New figures highlight success of coronavirus support schemes
Some 2.8 million people took advantage of the Self-Employment Income Support Scheme (SEISS) in the last year, the latest figures have revealed.
HMRC letters remind businesses of VAT payments change
Reminder letters are being sent out to tens of thousands of UK companies explaining changes in the Making Tax Digital (MTD) system and how it affects them.
Register for Making Tax Digital for VAT or risk penalties, HMRC warns
Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned.
Bounce Back Loan Scheme fraud rising
The Bounce Back Loan Scheme (BBLs) which has been described as a ‘giant bonfire’ of taxpayers’ money by a senior banker, has seen fraud investigations rise by more than 50 per cent in some areas.
Cash basis versus accruals basis
If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has its benefits, accrual accounting can be a more powerful tool for operating your business. So what is the difference?Continue reading
Claim up to 50 per cent off business software under new Help to Grow scheme
Small and medium-sized firms could get a discount of up to 50 per cent on the costs of business software under the new Help to Grow scheme, it has been revealed.
