With Covid-19 restrictions slowly winding down, many more businesses find themselves starting work up again. This, of course, rings true for those who are self-employed, too. With big companies it can be easy to get back into the swing of things, with many different employees able to handle the niche necessities of their business. Being […]
When it comes to the financial aspect of your company, it is helpful to set up a business bank account so that all the money coming in and out of your business is accounted for. It can get confusing to merge your personal account with your business income and outgoings. Read on to find out everything you need to know about Business Bank Accounts.
Bookkeeping is a key part of accounting. While it’s integral for many large businesses, it’s also an important part of accounting for freelancers and start-ups. There are many pitfalls and issues that can occur from this important part of accounting, but today you’ll be able to find out how to avoid these issues.
In this article, we take a closer look at the P11D form, what you need to include when you need to file it, and – most important of all – what will happen if you don’t fulfil your P11D duties.
Are you thinking of building your own house? Well you can now reclaim the VAT.
You can apply to HMRC for a VAT refund on building materials and services if you are building a new home, or converting a property into a home. In order to qualify, the home must be separate and self-contained, be for you or your family to live or holiday in, and not be for business purposes (although you can use one room as a work from home office). Builders working on new buildings should zero rate their work anyway and you won’t pay any VAT on their services.
HMRC issued a statement confirming that where the donation is made by one person the tax relief is not at risk
HMRC have recently updated the list of trade and professional organisations for directors and employees who receive a tax reduction for annual subscriptions. NI can also be avoided if the bills are directly paid by the employer