Blog
Maximise Your Savings: Energy Efficiency Tax Relief for UK Businesses
In an era where sustainability is not just a buzzword but a business imperative, the UK government is offering substantial incentives for companies investing in energy efficiency. These tax reliefs and support programmes not only help businesses reduce their...
5 Clever Ways to Reduce Taxes for Your UK Construction Company
Did you know your construction company could be paying significantly less in taxes than it currently does? As an experienced accountant specialising in the construction industry, I want to share with you five proven methods that will help you save money and increase...
Why It’s Worth Organising Corporate Events
Corporate events are an excellent way to build teamwork, boost employee morale, and create a positive atmosphere at work. Besides the benefits associated with integration and relationship building, there are also specific financial advantages that these events can...
Why Business Entertainment Expenses Are Not Tax-Deductible
Many businesses utilise various forms of business entertainment, such as shared meals, sporting events, or gifts for clients, to build better relationships and promote their services. While these activities may seem like a justified part of running a business, there...
4th Grant
Fourth grant for self-employed will start at the end of April 2021, the exact date will be announced soon. Good news for people who did not quallfied for SEISS so far!!! If you started your seld-employment after March 2019 or you were not entitled to the...
Flat Rate Scheme
VAT – Flat Rate Scheme What is it? VAT is calculated as a difference between VAT from sales (output VAT) and VAT from purchases (input VAT). Sometimes a person has a refund of VAT, but many times owes Vat to HMRC. Flat Rate Scheme is a set % of VAT that has to be...
Trivial benefits
I don’t know how many of you knows anything about trivial benefits. Many times, as an employer, you may think how to reward your hard working employees, give them something extra, some small token and in present climate save on taxes. As an employer you can buy your...
Business Entertainment
What is business entertainment and can we classify it as business expenses? What is classified as a business entertainment in relation to the clients: Food and drink Presents Cinema or theatre tickets Sports events tickets Entries to the clubs One would think that if...
CIS – what is it, what for and what to do with it?
CIS (Construction Industry Scheme) is a tax deducted by the contractor from the subcontractor's salary and transferred to HMRC. In other words, it is a tax that must be declared during self-assessment tax return and usually the overpaid amount is refunded....
Grant increase for self-employed
We are in the quarantine again! Thankfully the government took under the consideration situation of self-employed people and decided to increase the grant. Increase is from 55% to 80%. It is for two periods: November 2020-January 2021 February 2021 – April 2021 The...
Deadline to submit your tax return to HMRC is near
Deadline for self-assessment tax return (SATR) is 31 January. Anyone who is self-employed, who has turnover in excess of £1000, regardless of making profit or a loss, has to submit SATR to HMRC. Penalties if you don’t submit your return on time: From 01 February (even...
Christmas Party. Do you know accounting rules with regards to Xmas parties, what can be deducted?
Xmas party time is almost upon us. Obviously depending on the current situation due to the Coronavirus, you may want to invite your employees to the Xmas party; if allowed. It is an exceptionally good way to show your employees appreciation and to build a team spirit....
You should use the services of qualified accountant!
In England most of self-employed people or directors of Ltd companies using advice and services of the accountant. Do you know that one does not have to have relevant qualifications to call themselves accountant or that you, as a client, are responsible for the...
Grant extension for self-employed
The grant extension is for self-employed individuals who are currently eligible for the Self-Employment Income Support Scheme and are actively continuing to trade, but are facing reduced demand due to coronavirus (COVID-19). 1. Who can claim To be eligible for the...