Category: Finances

More than 500,000 UK Companies in Significant Financial Distress

509,000 UK companies are in significant financial distress—the highest number ever measured. The coronavirus lockdown has seen the largest quarterly increase in the number of businesses in significant distress since the end of 2017, growing by 15,000 companies. This figure is expected to increase throughout Q2 as COVID-19 restrictions continue. The number of critically distressed…




Coronavirus Updates for Accountants

17 April 2020 HMRC emails two million eligible businesses login details for furlough portal Government extends furlough end date to 30 June at £50bn cost Confusion over private school fees and covid-19 lockdown closures 16 April Top tips: furlough and the Coronavirus Job Retention Scheme FCA remodels business plan to address coronavirus challenge Higher rate…




Bookkeeping: Capturing and organising receipts

Keep your business receipts tidy and organised using the tips in this blog to make completing your tax return a cinch. Here are our top tips for quickly and efficiently compiling, organising, and storing your business receipts. Make notes – Get into the habit of writing a quick note on receipts about what they are…




Bookkeeping tasks to complete in January

January is a great time to review your bookkeeping processes and get your business’ finances organised for the new year. For many businesses, January is a quiet time of year that is best used to review performance and processes and plan and prepare for the year ahead. Complete the following bookkeeping tasks in January to…




How to reduce the amount of capital gains tax paid on the sale of a property

When selling a property that is not eligible to private residence relief, you may still be able to reduce the amount of capital gains tax due on the profits. Capital gains tax is usually due on the profits made from the sale of any property that is not your main home. Generally, you are exempt…




How To Keep Your Best Employees

In today’s tight labour market, it can be difficult to keep hold of your most talented employees capable of helping to take your business to the next level. Perks are one way of keeping staff motivated and happy but they need to be carefully thought out to avoid such schemes falling flat. Most business owners…




How to handle Invoicing

Invoicing tends to be considered by most small business owners as an additional chore often done when there is spare time to complete the relevant admin activity. This often means rushing through invoices on evenings or even at weekends so it doesn’t take away from the time spent getting the work done. Invoicing, however, demands…




R&D Tax Relief Claims Rising

The number of companies claiming tax relief for research and development has increased according to data released by HMRC but critics say not enough is being done to encourage innovation. R&D tax credits are nothing new having first been introduced 18 years ago to help companies invest more in research and development. During the period…




Is Your Pricing Right?

If you are wondering if you are selling your services too cheaply, you are not alone. Most SME business owners find themselves wondering if their price is right when it comes to the products and services they offer. Setting the right price, however, can be a challenge if you are in a competitive industry. The…




Can You Claim Your Christmas Party As A Business Expense?

You either love office parties or you hate them but either way they could be tax deductible as long as you follow certain tax rules. Those rules mean that you can spend £150 a head to treat your staff to turkey, all the trimmings and perhaps even a bottle of wine this year. As long…