Category: Audits

Tax incentives for running electric commercial vehicles

Did you know that switching from petrol or diesel to electric commercial vehicles could help to save your business money? Businesses are under increasing pressure to find ways to work more sustainably and reduce their carbon emissions to help protect our planet. If your business runs commercial vehicles, making the switch to electric models can…




Who can claim Entrepreneur’s Relief?

Claiming Entrepreneur’s Relief could save you a substantial amount of money in capital gains tax. Entrepreneur’s Relief is a government scheme that was introduced in 2008 as an incentive to encourage entrepreneurship. The scheme reduces the amount of Capital Gains Tax paid by individuals disposing of business assets to just 10%. Individuals that meet the…




What are the benefits of using accounting software?

Even if you’ve hired an accountant, accounting software is an invaluable tool for every business, no matter its size. Whether you’re a freelancer or an e-commerce business, accounting software will help you to record, manage, and analyse your business’ finances and performance. Having all your financial information stored in one organised, digital place makes your…




How Much is Your Business Worth?

As business owners we all value our businesses highly, however not every business owner can put a cash value on their business. This is because valuing a business is not as simple as it sounds. Even the great investor Warren Buffet described as much of an art as it is a science. The average small…




How SME Businesses Should Prepare for An Interest Rate Rise

The Governor of the Bank of England recently warned that a no deal Brexit could result in an interest rate rise. This would result from if the pound plunged in value in the aftermath and emergency measures were needed to prop up its value. While nobody is suggesting this worst case scenario is going to…




How Business Owners Can Make Tax Savings On Paternity Pay

If you are business owner with a partner expecting a baby, then did you know you could be saving on tax by taking paternity leave and paying yourself for it? If not read on to find out what you are entitled to and how and when to claim. It’s common knowledge that maternity pay is…




Avoid This Major Tax Mistake

Tax can be a source of anxiety for most business owners who prefer not to think to much about it until those dreaded deadlines come into view. This anxiety is not helped by myths and false beliefs about tax which can end up costing your business more than is necessary. With this in mind here…




Will There Be A World Cup Footy Bonus For UK Economy?

A lot is made of the benefits hosting a major sporting event can have on a national economy. If you are old enough to remember the excitement of England’s hosting of the European football championship in 1996 or the heady days when the national team had realistic hopes of winning subsequent tournaments, you may have…




Sole Trader or Umbrella Company – Which is Best For Freelancers?

If you work as a freelancer, there may be times where you consider contract work to generate more income. Some companies, however, will insist that they can only pay you direct if they are paying you via a limited company. This leaves the freelancer with a problem if they operate as a sole trader. The…




Government Targeting Cash In Hand Loopholes

Cash in hand has long been something accepted by people working as builders, plumbers, childminders and other tradespeople but the government has now released proposals to change the rules on the size of payments that can be received in cash without a receipt. While the practicalities of enforcing a blanket ban on cash in hand…