Cash flow statements – How to avoid errors that damage your business
A cash flow statement provides data about all cash inflows a company receives from its operations and investments. It tells you how much cash is entering and leaving your business in any given period. Along with balance sheets and income
Retain key staff with salary sacrifice schemes
While the national job vacancy boom is good news for job seekers, it could be a nightmare for businesses keen on retaining high-quality staff. While a pay rise is always welcome it may not always be the most tax or
Are you making the most of super-deduction tax relief?
Businesses across the UK are already benefitting from the temporary tax relief offered by the super-deduction but many more could still be missing out on this vital support. The super-deduction scheme was introduced on 1 April 2021 and will run
Can you avoid the P11D process?
Every year employers across the UK submit an end-of-year report to HM Revenue & Customs (HMRC) outlining the benefits provided to each employee and director, which were not included in their wages. This report is sent using the P11D form,
Most popular options available when setting up a new business
It’s a new year and many people who may have lost their jobs during the pandemic or have decided to take their life in a new direction, will be looking to start up a business. It could be a full-time
New tax rules on holiday lets – What does it mean for owners?
It was recently announced that the Government would reform business rates relief for owners of second homes – resulting in some holiday let owners facing additional costs of up to £1,000 a year. The Department for Housing, Communities and Local
Nearly half a million SMEs at risk of failing due to late payments crisis
According to a new survey from theFederation of Small Business (FSB), more than 440,000 small businesses could fail because of a new late payment crisis. The national small business organisation has called for the Government to step in and take
Fears over move to MTD, as few take part in income tax pilot scheme
A pilot scheme using software in preparation for the next phase of HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) initiative has seen a slump in users. Self-employed businesses and landlords with annual business or property income above £10,000
Company directors banned for Bounce Back Loan fraud
Two company directors have been banned for a total of 21 years after they fraudulently claimed £100,000 in bounce back loans. Following an investigation by the Insolvency Service, Aamer Aslam from Huddersfield and Razwan Ashraf from Keighley were disqualified for
Top tax tips to help your business save money
Whether you are setting up a new business, or already have a successful, well-established company, there are many ways that you can save money through tax reliefs and allowances. Certain tax initiatives even allow business owners to save money that
