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Accounting & Compliance

Employee travel and subsistence

With employees’ and directors’ P11d’s for 2021/22 due by 6 July 2022 it is timely to remind employers of the rules for travel and subsistence, particularly as HMRC have recently issued some updated guidance and useful examples of their interpretation of the law.

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Business Planning Leadership & Management

Attracting passive candidates

How do you attract applicants for a new role, if they are not actively looking for a move?

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Business Planning Accounting & Compliance

Inflation, it’s personal!

We are in a period of high inflation of prices for goods and services. The Office for National Statistics (ONS) shows one of the inflation indices has increased by 6.2% in the 12 months to March 2022.

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Leadership & Management

How to be a more inclusive manager

Inclusion doesn’t just happen. In order to be more inclusive, managers need to start with intention and regular practice.

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Leadership & Management

Give yourself a head start

Starting each day the right way, sets you up for success.

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Business Planning

Taking control of your business

It is easier to get to your destination with a plan. We all know this simple truth. If you are driving from A to B, it helps to know where B is and the directions you need to take.

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Accounting & Compliance

Towards Net Zero

Top tips to help your business move towards net zero carbon.

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Business Planning

What’s your growth strategy?

A company might have a great product or service but without a business growth strategy to help it define, articulate, and communicate where it is going, it may not grow at all!

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Leadership & Management

Setting objectives for your team

Setting goals for the business is one thing, but in order to succeed, you need to set smart objectives for your team.

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Accounting & Compliance

Giving Shares to Employees

Where companies give shares to employees in the company or group that they work for they will generally be taxed on the difference between the market value of those shares and the amount paid, if any.

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Business Planning

Building resilience in these tough times

Is it all doom and gloom or can you plan forward and make adjustments in and to your business to factor in recent changes?

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Business Planning

Develop your customer engagement strategy

Customer engagement is earned through trust and over time. It is all about attracting and influencing customers in order to capture and retain their attention.

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Leadership & Management

Managing stress at work

Work-related stress is an increasing area of concern.

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Accounting & Compliance

The ups and downs of Spring Statement 2022

The Chancellor of the Exchequer, Rishi Sunak, delivered his Spring Statement on Wednesday 23 March 2022. In this early edition of our April tax newsletter we outline the key measures affecting our clients.

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Reducing Tax

Company Car Or Car Allowance – What’s best?

If you’re an employee for a business, there may come a time when you’re offered a company car or car allowance and you need to decide which to take - there are benefits to both!

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Leadership & Management

Top 5 management tips for 2022

Great managers build great businesses. Here are some top tips to help you become a better manager in 2022.

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Leadership & Management

What makes a good business leader?

There is no recipe for good leadership so how do you go about becoming a really great business leader?

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Accounting & Compliance

Where does the money go?

With ever increasing supplier prices, managing your businesses cash and understanding the flow are now vital tools in maintaining resilience and being able to adopt flexible strategies for success.

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Business Planning

Planning to sell your business in 2022?

Now that the economy is starting to recover, this could be a good time to think about selling your business.

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Reducing Tax

Poor Take-up of Tax Free Childcare Accounts

The government are concerned about the lack of take up of tax-free childcare accounts, with HMRC estimating that less than 22% of families eligible for the scheme had joined in March 2021.

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Business Planning

The Importance of a Shareholders Agreement

For limited companies, when it comes to making decisions, Company Law states shareholders who own more than 50% can pass a motion at a company meeting regardless of the views of other shareholders.

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COVID-19

Paying back a Self-Employed Income Support Scheme (SEISS) grant

There is a new section in the SEISS guidance called ‘If you still need to make a claim’.

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Accounting & Compliance Reducing Tax

Personal tax planning ahead of April 2022

The costs of keeping the country running through covid were huge and inflation is expected to add to the country’s debt.

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Accounting & Compliance Brexit

HMRC guidance on VAT place of supply of services

HMRC have recently updated their internal VAT manual to clarify the “place of supply” rules for services.

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COVID-19

Recovery Loan Scheme extended

Applications for this loan have been extended and are now open until 30 June 2022.

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Accounting & Compliance

Cash flow is the single most important issue in my business

Do you agree? Most of our other clients do. In this economy CASH IS KING and managing your cash flow is more important than ever.

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Accounting & Compliance COVID-19

HMRC gives Self-Assessment taxpayers more time to ease COVID-19 pressures

Late filing and late payment penalties are to be waived for one month for Self-Assessment taxpayers.

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Accounting & Compliance COVID-19

Remember to declare COVID-19 grants on your tax return

HM Revenue and Customs (HMRC) is reminding Self-Assessment tax payers to declare any COVID-19 grant payments on their 2020 to 2021 tax return.

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COVID-19

New Business Grants

The government is introducing a new grant scheme to support businesses that are experiencing difficulties because of the Omicron variant. Hospitality and leisure premises will benefit from targeted grant support.

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Accounting & Compliance COVID-19

Statutory Sick Pay Rebate Scheme (SSPRS)

The government is reintroducing the Statutory Sick Pay Rebate Scheme (SSPRS). This will be a temporary scheme to support employers facing heightened levels of sickness absence due to COVID-19.

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Accounting & Compliance

What is the best use of your time in January?

We encourage all businesses to consider taking time to prepare a 2022 Strategic plan.

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Accounting & Compliance

Job vacancies booming and applicants now call the shots

In their recent labour market review, the Office for National Statistics (ONS) show that in October there were 29.3 million employees, up 160,000 on the revised September 2021.

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Accounting & Compliance

Do you know what your financial statements are telling you?

Understanding your finances is a vital part of running your business. But understanding the detail of the company’s financial statements can be complicated and isn’t every entrepreneur’s top skill.

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Accounting & Compliance Reducing Tax

Can you be tax efficient at Christmas?

As December approaches and the dark nights roll in, we thought it would be helpful to summarise all the key tax benefits you can use over the festive season to ensure you have a very tax efficient Christmas!

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Accounting & Compliance

How can you raise your prices without losing too many customers?

The current business environment is incredibly competitive but as we emerge from the pandemic, consumer demand is increasing, and many sectors have seen labour and material costs rise.

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Reducing Tax COVID-19

Tax relief for working from home

If you have been forced to work from home due to the pandemic and your employer has not reimbursed these costs, then you will be able to claim the working from home tax relief.

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Accounting & Compliance COVID-19

End of temporary insolvency measures

Temporary insolvency restrictions protections are being lifted and new targeted measures to support small business and commercial tenants introduced.

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Accounting & Compliance COVID-19

VAT rate reduction for hospitality, holiday accommodation and attractions

The reduced VAT rate of 5% has been extended until 30 September 2021.

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Accounting & Compliance

Plastic packaging tax starts 1 April 2022

If you are a business that manufactures or imports 10 or more tonnes of plastic packaging over a 12-month period you will need to register for the tax.

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Accounting & Compliance

Changes to National Insurance and Dividend Tax from 2022

On 7 September, the government announced an increase in National insurance contributions and dividend tax rates from April 2022.

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Accounting & Compliance

What is a director’s loan?

A director’s loan is created when you as a director get money from your company that is not a salary, dividend or expense repayment.

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Accounting & Compliance

Big tax bills for the self-employed in 2022/23

Draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year.

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Accounting & Compliance Making Tax Digital

Making Tax Digital update – August 2021

VAT registered business making taxable supplies above the £85,000 registration threshold have been grappling with Making Tax Digital (MTD) since April 2019.

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Reducing Tax

Can my limited company pay for my garden office?

The past year has seen a huge increase in the number of people choosing to and being able to work from home due to COVID-19.

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Accounting & Compliance

More details on New Company Loss Carry Back Rules

HMRC have updated their guidance on claiming relief for company trading losses to take account of the extended carry back announced in the Spring Budget and now legislated in the Finance Act 2021.

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Accounting & Compliance

Are you aware of the changes to the off-payroll working rules?

Many businesses would have heard of the original off-payroll working rules which were introduced to ensure that individuals who work like an employee pays similar taxes to other employees.

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COVID-19

HMRC publishes details of the Fifth SEISS grant claim

Full details of the fifth Self-Employed Income Support Scheme (SEISS) grant, including a new turnover test which determines the level of the grant, were published by HMRC on 6th July.

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Accounting & Compliance

What is a “dormant” limited company?

Many business owners have companies in the background to ‘save the name’ or just changed their plans and didn’t ever trade through them.

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Brexit

Postponed VAT accounting – How it works for businesses

As of 1 January 2021 VAT registered businesses that import goods into the UK from anywhere in the world can use a new system called postponed VAT.

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Accounting & Compliance Making Tax Digital

Making Tax Digital update – June 2021

HMRC introduced the first phase of its new digital tax initiative, Making Tax Digital (MTD), on 1 April 2019 and there are still changes to come which will affect the majority of businesses!

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Brexit

Grants for small and medium-businesses new to importing or exporting

The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice.

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Reducing Tax

Should I get a company car?

Company cars have always been popular and they can be a great incentive to offer to employees or attract the best candidates for your company.

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Accounting & Compliance

Can I recover VAT on electric car charging?

The government are committed to encouraging more and more people to drive electric cars and have reduced or eliminated the income tax benefits of providing electric company cars or charging points for employees.

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COVID-19

June 2021 - Self-Employment Income Support Scheme (SEISS) update

This blog looks at the latest information on the SEISS which is extracted from HMRC, and government updates provided to us.

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COVID-19

May 2021 – Coronavirus Job Retention Scheme (CJRS) update

A roundup of the latest information on the CJRS which is extracted from HMRC updates provided to us.

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Reducing Tax

Should I pay into a personal pension or should my company pay my pension instead?

This question has been asked a few times recently by company directors looking to manage their remuneration in the most tax efficient way.

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COVID-19

What is the Recovery Loan Scheme?

The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic.

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