Dec 6, 2020 | Limited Companies, Self Employment in UK, Uncategorised, VAT Returns
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...
Nov 22, 2020 | Construction Industry Scheme (CIS), Payroll, Self Employment in UK, Uncategorised
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....
Nov 7, 2020 | COVID-19, Self Employment in UK, Uncategorised
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...
Oct 28, 2020 | Construction Industry Scheme (CIS), Self Employment in UK, Uncategorised
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...
Oct 22, 2020 | Limited Companies, Self Employment in UK
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....
Oct 20, 2020 | Construction Industry Scheme (CIS), Limited Companies, Payroll, Self Employment in UK, VAT Returns
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...
