The 500T tax code in the UK is a temporary, non-cumulative code used by HMRC when they lack information.
Attention UK Taxpayers – do you understand the 500T tax code?
SMEs / Business
Management accounts – Why SMEs should embrace regular reporting
Consistent financial reporting needs to be a core part of your financial strategy to ensure sustainable business growth.
Naturally, year-end accounts will form the backbone of your reporting – but, for a full picture, don’t stop there.
Debt management strategies for SME business owners
Although it can have negative connotations, debt is inevitable for most businesses.
So, you want an electric company car? The tax perspective
Environmental consciousness is becoming more and more aligned with business operations, and electric vehicles (EVs) are becoming a popular choice for company cars as a result.
Here’s how you can boost your SME’s efficiency and beat rising costs in 2024
If you’re concerned about how rising costs will impact your SME, you’re not alone.
Allowable business expenses – simple ways to save money
As a business owner, you are probably aware of some of the expenses that you could claim back on in your yearly Self-Assessment tax return.
VAT deadlines and what businesses should be doing to prepare for them
Businesses must remain compliant with the requirements for reporting and paying VAT, especially with the regular quarterly for VAT under Making Tax Digital.
What SMEs can do in the event of a recession
While the end of 2023 saw inflation slow down, experts have warned that the chances of a recession in the coming months are more likely. Read more
Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers
HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion – online traders. Read more
Our predictions for the SME business economy in 2024
Now that we have entered 2024, our accounting team has been making their predictions and discussing how best to advise our clients on preparing for upcoming challenges.