An overview of the Construction Industry Scheme and what it means for your business
The Construction Industry Scheme (CIS) is a Government initiative that allows contractors in the construction industry to deduct money from a subcontractor’s payments and pass it on to HM Revenue & Customs (HMRC).
Managing an Overdrawn Director’s Loan Account
Are you a company director contemplating a loan from your own business? If yes, it’s crucial to understand the workings behind the Director’s Loan Account (DLA) and the implications of an overdrawn director’s loan account (ODLA).
Is cloud accounting the future for businesses?
In the world of entrepreneurship and small businesses, technology continues to revolutionise the way we manage our operations.
How to spot the early signs that your business may be facing financial difficulty
Many businesses across the UK have been financially affected by the cost-of-living crisis and the rise in inflation and have also suffered from the fallout of Covid-19 loan schemes and companies’ failure to make repayments.
New HMRC service allows businesses to set up online payment plans for VAT owed
HM Revenue & Customs (HMRC) have recently confirmed that businesses that owe less than VAT £20,000 can now set up a payment plan online.
Corporation Tax: Upcoming filing deadlines and reminder about recent amendments
Recent changes HM Revenue & Customs (HMRC) made to the rate of Corporation Tax mainly affected larger businesses in the UK.
Essential financial metrics every business owner should track
Understanding the financial health of a business is integral to its success, regardless of the industry or the size of the operation.
Strategies for SMEs: Surviving the interest rate hike
As interest rates in the UK rise, small and medium-sized enterprises (SMEs) will undoubtedly feel the pinch.
VAT penalties for late filing or payments – be aware of the changes
HM Revenue & Customs (HMRC) has removed the default surcharge for late payments of VAT and replaced it with what is a new penalty charge. The way interest is charged has also been amended.
UK Corporation Tax for start-ups: what you need to know
Corporation Tax is a critical element that start-ups need to be aware of when starting their new venture.
