BUSINESS GUIDES

We’ve put together a series of concise business guides. Click on the links below to access the relevant topics. Please contact us if we can provide further help and guidance.

Capital taxes

This group of guides cover taxes on the disposal, generally by way of sale, of capital assets and the taxes due on death.


Capital gains tax

A capital gain arises when certain capital assets are sold at a profit. We consider the taxation of gains and outline the reliefs available.
Read the guide


Capital gains tax and the family home

We consider whether any tax is due on the sale of the family home and the availability of principal private residence and other reliefs.
Read the guide


Inheritance tax - a summary

Inheritance tax (IHT) is levied on a person’s estate when they die and on certain gifts made during an individual's lifetime. We set out the principles.
Read the guide 


Inheritance tax avoidance - pre-owned assets

We consider the Pre-Owned Assets rules, along with the rules for determining the income tax charge levied on the previous owner of an asset.
Read the guide


Stamp Duty Land Tax

We look at the key areas to consider for the purchaser in a land transaction, whether this is buying a house or creating a lease or assigning a lease, a purchaser is required to pay Stamp Duty Land Tax (SDLT).
Read the guide


Trusts

We consider the basic principles of Trusts, looking at what they are, along with a range of anti-avoidance measures aimed at preventing exploitation of potential tax benefits.
Read the guide

Corporate & business tax

Concise information on the taxation issues you need to consider for both unincorporated and corporate businesses.


Business motoring - tax aspects

This guide focuses on the current tax position of business motoring, a core consideration of many businesses. The aim is to provide a clear explanation of the tax deductions available on different types of vehicle expenditure in a variety of business scenarios.
Read the guide


Capital allowances

The cost of purchasing capital equipment in a business is not a tax deductible expense. However tax relief is available on certain capital expenditure in the form of capital allowances.
Read the guide


Cash basis for the self-employed

Small unincorporated businesses can calculate their profits for tax purposes on a cash basis rather than the normal accruals basis. We look at the optional rules that allow for this, while also taking in the key tax points.
Read the guide


Companies - tax saving opportunities

Pre-year end tax planning is an important consideration and this guide outlines some of the key areas. Topics covered include corporation tax, capital allowances, dividends payments and capital gains.
Read the guide


Corporation tax - quarterly instalment payments

Under corporation tax self assessment large companies are required to pay their corporation tax in four quarterly instalment payments. This guide considers the rules regarding these payments.
Read the guide


Corporation tax self assessment

This guide explains the procedures for filing your company’s tax return and paying the tax due.
Read the guide 


Fixed rate expenses

An optional system of fixed rate expenses has been introduced for unincorporated businesses. We consider the optional rules which allow the use of a 'simplified' fixed rate deduction instead of actual costs.
Read the guide


Homeworking costs for the self-employed

If you are self employed and work from home this guide will summarise what homeworking costs you can claim for tax purposes.
Read the guide


Incorporation

The issue of whether to run your business as a company or a sole trade or partnership is an important decision. In this guide, we summarise the relevant tax changes and show the potential tax savings currently available from operating as a company.
Read the guide


IR35 personal service companies

The 'IR35' rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships. This guide summarises what situations are caught by the rules and the implications of the rules.
Read the guide


Research and development

Research and development (R&D) by companies is being actively encouraged through a range of tax incentives, which we consider in the points below.
Read the guide


The Construction Industry Scheme

The Construction Industry Scheme sets out special rules for tax and national insurance for those working in the construction industry. This guide considers the workings of the scheme.
Read the guide

Employment & related matters

These guides contain concise summaries of information on employment law related topics. The information is relevant to both employers and employees alike.


Age discrimination

Dealing with age discrimination can be a complicated matter, especially when making sure the correct systems and processes are in place to avoid such acts. We consider the issues that may be important to you here.
Read the guide


Agency workers regulations

We consider the implications of the regulations to agency workers, looking at various aspects from payment and holiday entitlement, to working conditions.
Read the guide


Annual leave

We consider their entitlement and some complications of annual leave, including payment, entitlement and sickness during leave.
Read the guide


Dismissal procedures

We consider the key areas that can be involved in employee dismissal, whether it is looking at statutory procedure, possible unfair dismissal claims or simply the right to dismiss an employee.
Read the guide


Health and safety

We provide information, practical tips and processes (including a checklist) to help your business remain, or become compliant.
Read the guide


Legal working in the UK

Guidance to help you make sure that your business is complying with the law when it comes to employing staff to work in the UK.
Read the guide


Managing absence

We consider how to best manage absence procedures.
Read the guide


National Minimum Wage

We look at the main principles of the minimum wage regulations, considering the various rates, along with the penalties for failure to comply.
Read the guide


Recruitment procedures - employment law

Our suggestions can help you take on better employees by improving your recruitment process and also avoid making mistakes.
Read the guide


Recruitment procedures - 7 steps for good procedures

Read our 7 sensible steps to follow whilst recruiting, which should help you avoid mistakes.
Read the guide


Redundancy procedures

We outline elements such as the legal procedures to be followed and statutory redundancy pay, along with other key principles concerned with the redundancy of employees.
Read the guide


Statutory sick, maternity and paternity pay

We look at an employer's obligations to pay statutory payments and the processes involved.
Read the guide

Employment issues (tax)

Concise information on the tax issues relevant to both employers and employees. Click on the links below to access the relevant details.


Cars for employees

This guide set out the main areas to consider and the tax and national insurance implications with employer provided cars.
Read the guide


Employee expenses

HMRC have introduced an exemption regime for employee expenses which results in the expenses not only being tax exempt but non reportable on form P11D. This guide considers the necessary conditions that must be met for this exemption to apply.
Read the guide


Employer supported childcare

The tax and NIC exemption for employer-contracted childcare and employer-provided childcare vouchers has been very popular with both employers and employees alike. This guide outlines the exemptions available.
Read the guide


Employment benefits

The remuneration of many directors and employees comprises a package of salary and benefits. In this guide we consider some of the main benefit rules.
Read the guide


Homeworking and tax relief for employees

It is now very common for many employees to work from home, but this does mean that it is important to understand how the rules work with this.
Read the guide


National insurance

National Insurance contributions (NICs) are essentially a tax on earned income. The NICs regime divides income into different classes: Class 1 contributions are payable on earnings from employment, while the profits of the self-employed are liable to Class 2 and 4 contributions. This guide highlights the areas you need to consider and identifies some of the potential problems.
Read the guide


Payroll - basic procedures

This guide outlines what you need to do to set-up and run your payroll.
Read the guide


Payroll Real Time Information

Significant changes are being made to the way payroll information needs to be submitted to HMRC. Read our guidance on how payroll operates under Real Time Information (RTI).
Read the guide


Share ownership for employees - EMI

Retaining and motivating staff are key issues for many employers. The Enterprise Management Incentive enables options to be granted to employees which may allow the shares to be received without any tax bill arising until the shares are sold. This guide gives an overview of EMI.
Read the guide


Travel and subsistence for Directors and employees

Travelling and subsistence expenditure incurred by or on behalf of employees gives rise to many problems. This guide highlights the main areas to consider in deciding whether tax relief is available on travel and subsistence.
Read the guide

General business

Issues to consider when running your own business. Click on the links below to access the relevant information.


Bribery Act 2010

This guide gives an overview of the procedures you must put in place in relation to the Bribery Act 2010.
Read the guide


Company secretarial duties

This guide considers what company information has to be made available and looks at whether a company secretary needs to be appointed.
Read the guide


Directors’ responsibilities

Becoming a director carries with it potentially onerous duties. Make sure you know what those duties are. This guide gives guidance on directors’ responsibilities.
Read the guide


Franchising

Franchising is becoming increasingly popular. This guide considers the advantages and disadvantages of franchising and points to consider when considering operating as a franchise.
Read the guide


Fraud and how to spot it

This guide considers how you can increase your awareness of the factors that indicate fraud. It also sets out the defences that you can implement to minimise the risk within your business.
Read the guide


Grants

We consider if your business is eligible for a grant.
Read the guide


Micro Entity Accounting

This guide considers the options available to micro entities when preparing their accounts.
Read the guide


Preparing for your accountant

Whether we are producing your accounts or carrying out tax compliance work, being prepared for us will ensure our work is carried out smoothly and efficiently and with the minimum disruption to yourselves. This guide highlights many of the ways in which you can help.
Read the guide


Register of people with significant control

This guide summarises the requirements which place additional obligations on companies, their officers and the people with significant control over them.
Read the guide


Securing business success

As many as half of all businesses fail in their first three years of trading, this guide summarises the specific reasons for business failure and how to avoid them.
Read the guide


Small Company Accounting

The required format of statutory accounts for small companies has changed. This guide considers the reporting requirements and their impact.
Read the guide


Valuing your business

There are many reasons why you may need to calculate the value of your business. This guide consider the range of methods available as well as some of the factors to consider during the process.
Read the guide

Information & Communications Technology

Concise information on Information and Communications Technology matters.


Bring your own device (BYOD)

We consider guidelines on creating a policy for those companies who have a BYOD policy for their employees.
Read the guide


Data security - access

Storing and gaining access to personal data on computers, networks and systems is an ever-changing area. We look at the important information to consider.
Read the guide


Data security - backup

We look at what you need to consider with your computer system and how you backup your data.
Read the guide


Data security - cloud and outsourcing

We consider the security of your computer systems, and how to minimise the risks of data loss within the cloud and where some or all services are outsourced.
Read the guide


Data security - data loss risk reduction

We look at what to consider in order to make sure your data is secure.
Read the guide


Data security - Data Protection Act

The key compliance issues are observed when looking at data protection and the Data Protection Act.
Read the guide


Data security - General Data Protection Regulation

The General Data Protection Regulation (GDPR) will replace the existing Data Protection Act and took effect 25th May 2018. This guide considers the key principles of the GDPR.
Read the guide


Data security - General Data Protection Regulation - Ensuring Compliance

The General Data Protection Regulation (GDPR) replaced the existing Data Protection Act and applies from 25th May 2018.
Read the guide


Internet and email access policy

It is important that your employees are aware of what is and isn't allowed with regards to internet and email usage.
Read the guide

Pensions

Pensions are an important consideration for all and become more so the older you get but what are the rules?


Occupational pension schemes: trustees' responsibilities

Employers can help promote retirement benefits for their employees in a number of ways including occupational schemes. Read the guide


Pensions - tax treatment on death

Details of how pension funds are treated for tax on death. Read the guide


Pensions - automatic enrolment

Outlines employers' responsibilities under Pensions Auto Enrolment. The government has placed greater responsibility on employers to provide access to pension provision. Read the guide


Pensions - tax reliefs

We set out the tax reliefs available to members of a Personal Pension scheme. Read the guide

Personal tax

Concise information on a variety of topics relevant to an individual. Click on the links below to access the relevant guide.


Charitable giving

You can get tax relief on gifts to UK charities if you give under Gift Aid or through a Payroll Giving scheme or by making a gift of shares or land. We outline the reliefs available. Read the guide


Child Benefit charge

Information regarding the High Income Child Benefit charge which applies to taxpayers who have income over £50,000 in a tax year where either they or their partner receive Child Benefit. Read the guide


Dividends and interest

The rules for taxing interest and dividend income significantly changed with effect from 6 April 2016. This guide considers the new tax rates and the introduction of the Savings and Dividend Allowances. Read the guide


Enterprise Investment Scheme

We look at how qualifying companies can get access to equity investment from new and, in some cases, existing shareholders. Read the guide


Individual Savings Accounts

ISAs are tax-exempt savings accounts available to individuals. Read the guide


Non-domiciled individuals

An introduction to the taxation in the UK of income arising outside the UK for non UK domiciled individuals. Read the guide


Personal tax - self assessment

Under self-assessment an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. We summarise the rules and penalties for failing to comply with your obligations. Read the guide


Personal tax - when is income tax and capital gains tax payable?

We look at the area of self assessment, the responsibility for this and also the rules and penalties to be aware of. Read the guide


Property investment - buy to let

We consider what the key areas of for investing in property, looking at rental income, along with all the other costs and outgoings. Read the guide


Property investment - tax aspects

Investment in property continues to be a popular form of investment. On the basis that the investment appears to make commercial sense what tax factors should you take into account? Read the guide


Seed Enterprise Investment Scheme

This is an area that usually appeals to start up companies, and those that invest within them. We look at why this is the case and what to consider. Read the guide


Statutory Residence Test

The Statutory Residence Test provides, through a series of tests, a definitive process to determine the UK residence status of any individual. That status applies for income tax, capital gains tax and inheritance tax purposes. Read the guide


Taxation of the family

We look at how family members and structures can affect tax purposes. Read the guide


Venture Capital Trusts

Venture Capital Trusts (VCTs) offer similar to breaks to individuals as the Enterprise Investment Scheme. They provide an opportunity to invest in unquoted trading companies via a VCT thus spreading the investment risk over a number of companies. Read the guide

 

Specialist areas

A round up of some specialist areas from Money Laundering to Charities and Community Amateur Sports Clubs.


Charities in England and Wales: trustees' responsibilities

It is often considered an honour to act as a trustee for a charity and an opportunity to give something back to the community. We outline the main responsibilities with a particular emphasis on accounting and audit requirements. Read the guide


Charities in Scotland: trustees' responsibilities

We consider the various responsibilities of being a Scottish Charity Trustee with particular emphasis on accounting and audit requirements. Read the guide


Community amateur sports clubs

Many local amateur sports clubs register with HMRC as Community Amateur Sports Clubs (CASCs) and benefit from a range of tax reliefs including Gift Aid. We consider the rules and their implications. Read the guide


Limited liability partnerships

The key features of a Limited Liability Partnership. Read the guide


Money laundering

Recent times have seen tough new rules introduced to crack down on money laundering and the proceeds of crime. The rules affect a wide range of people and we consider how your organisation may be affected. Read the guide


Money laundering - high value dealers

We outline the procedures to be adopted with regards to the regulations aimed at preventing money laundering. Read the guide


Social enterprise entity structures

A social enterprise entity is a business with primarily social objectives. Any surpluses made are reinvested into the main principle of that entity (or into the community) rather than maximising profit for shareholders. We consider the various legal forms and which one will be the most appropriate. Read the guide

 

Starting up in business

Concise information on the key issues to consider when starting up in business. Click on the links below to access the relevant information.


Business plans

Every new business should have a business plan. It is the key to success. If you need finance, no bank manager will lend money without a considered plan. We consider why you should draw up a plan and what it should include. Read the guide


Business structures

Having made the decision to be your own boss, it is important to decide the best legal and taxation structure for your enterprise. The structure for you will depend on your personal situation and your future plans. Consider the options available. Read the guide


Considerations when starting a business

It is the ambition of many people to run their own business but there are many issues and pitfalls to consider. What issues should you consider when setting up in business? Read the guide


Could I really make a go of it?

If you are looking to run your own business, it is worth looking at what is required to succeed. Read the guide


Credit control

We consider what you need to be checking in order to understand if your customer can support the amount of credit you are granting. Read the guide


Insuring your business

When starting a new business, you will no doubt recognise the need for insurance. It can provide compensation and peace of mind should things go wrong but can also represent a significant cost. We consider the types of insurance you may need. Read the guide


Raising finance

Every business needs finance. We look at what type of finance is best suited to the development of your business. Read the guide


Sources of finance

The financing of your business is the most fundamental aspect of its management. Get the financing right and you will have a healthy business, positive cash flows and ultimately a profitable enterprise. We summarise the means of finance that are available and where we can help. Read the guide

 

VAT

Concise information on the VAT issues you need to consider when running your business. Click on the links below to access the relevant information.


VAT - a summary

VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them. This guide highlights some of the areas that you need to consider when running your business. Read the guide


VAT - annual accounting scheme

The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four. Read the guide


VAT - bad debt relief

This guide explains the situations where the VAT bad debt relief applies. Read the guide


VAT - cash accounting

Cash accounting enables a business to account for and pay VAT on the basis of cash received and paid rather than on the basis of invoices issued and received. The guide explains the workings of cash accounting. Read the guide


VAT - flat rate scheme

The VAT flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT. Under the scheme a set percentage is applied to the turnover of the business as a one-off calculation instead of having to identify and record the VAT on each sale and purchase you make. This guide explains how the VAT Flat Rate Scheme works. Read the guide


VAT - seven key points for the smaller business

This guide focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight common risk areas as a better understanding can contribute to a reduction of errors and help to minimise penalties. Read the guide

 

age discrimination

Age Discrimination

Age Discrimination Employers need to ensure they have the appropriate policies and procedures in place to deal with age discrimination. Age Discrimination The Equality Act 2010 replaces all previous equality…

Read The Guide
agency wokers regulations

Agency Workers Regulations

Agency Workers Regulations Guidance for businesses and other employers. Agency Workers Regulations Regulations which took effect from 1 October 2011 mean that workers supplied to a company, or to any…

Read The Guide
annual leave

Annual Leave

Annual Leave Workers are entitled to paid annual leave. We consider their entitlement and some complications. If you’re an employer in the Norwich area we, at Accountants etc, can provide…

Read The Guide
bribery act

Bribery Act 2010

Bribery Act 2010 The Bribery Act 2010 introduced a new offence of ‘failure of commercial organisations to prevent bribery’. Read on to find out more. Bribery Act 2010 The Bribery Act…

Read The Guide
bring your own device

Bring your own device (BYOD)

Bring your own device (BYOD) BYOD refers to the policy by which employees can use their own personal mobile devices to access company networks/systems. Bring your own device (BYOD) Some…

Read The Guide
business motoring tax aspects

Business Motoring – Tax Aspects

Business Motoring – Tax Aspects This guide focuses on the current tax position of business motoring. The aim is to provide a clear explanation of the tax deductions available on…

Read The Guide
business plans

Business Plans

Business Plans We consider why you should draw up a business plan and what it should include. If you’re starting, or have recently started a business in the Norwich area we…

Read The Guide
business structures

Business Structures

Business Structures – Which Should I Use? We consider the options available to you when starting your own business. There are tax and legal implications which have a bearing on…

Read The Guide
capital allowances

Capital Allowances

Capital Allowances Tax relief is available on certain capital expenditure in the form of capital allowances but the amount of these allowances can vary depending on the type of asset…

Read The Guide
capital gains tax

Capital Gains Tax

Capital Gains Tax A capital gain arises when certain capital assets are sold at a profit. The gain is the sale proceeds less the purchase price. What are the main…

Read The Guide
capital gains tax family home

Capital Gains Tax and the Family Home

Capital Gains Tax and the Family Home A valuable relief exists on the sale of the family home but in certain situations careful planning is required to ensure that the…

Read The Guide
cars for employees

Cars for Employees

Cars for Employees Commonly referred to as company cars and taxed by reference to the list price of the car but graduated according to the level of its carbon dioxide…

Read The Guide
cash basis self employed

Cash Basis for the Self Employed

Cash Basis for the Self Employed We consider the optional rules which allow small unincorporated businesses to calculate their profits for tax purposes on a cash basis rather than the…

Read The Guide
charitable giving

Charitable Giving

Charitable Giving Tax relief on gifts to UK charities is available if you give under Gift Aid or through a Payroll Giving scheme or by making a gift of shares…

Read The Guide
charity trustees responsibilities

Charities in England & Wales: Trustees’ Responsibilities

Charities in England & Wales: Trustees’ Responsibilities We outline the main responsibilities of a trustee of a charity. Charities in England & Wales: Trustees’ Responsibilities It is often considered an…

Read The Guide
charity trustees responsibilities

Charities in Scotland: Trustees’ Responsibilities

Charities in Scotland: Trustees’ Responsibilities Being a Scottish charity trustee brings responsibilities. Charities in Scotland It is often considered an honour to act as a trustee for a charity and…

Read The Guide
child benefit charge

Child Benefit Charge

Child Benefit Charge The receipt of Child Benefit can result in a tax bill. This potential bill brings the Child Benefit into the scope of self assessment. The High Income…

Read The Guide
community amateur sports clubs

Community Amateur Sports Clubs

Community Amateur Sports Clubs We consider the rules of Community Amateur Sports Clubs and their implications. If your club is in the Norwich area we can advise you on the…

Read The Guide
company tax saving opportunities

Companies – Tax Saving Opportunities

Companies – Tax Saving Opportunities Tax saving opportunities often need to be considered prior to the year end of the company or prior to the tax year end of the…

Read The Guide
company secretarial duties

Company Secretarial Duties

Company Secretarial Duties Certain information about a company must be publicly available including; annual accounts, registered office address, details of directors, company secretary (if there is one) and members. Company…

Read The Guide
construction industry scheme

Construction Industry Scheme

Construction Industry Scheme For those working in the construction industry, the compliance requirements of the Construction Industry Scheme needs to be coped with. The Construction Industry Scheme (CIS) sets out…

Read The Guide
corporation tax quarterly instalment payments

Corporation Tax – Quarterly Instalment Payments

Corporation Tax – Quarterly Instalment Payments If your company is caught by the quarterly instalment payments rules, the first payment of corporation tax for a current accounting period will be…

Read The Guide
corporation tax self assessment

Corporation Tax Self Assessment

Corporation Tax Self Assessment There are a number of procedures for filing your company’s tax return and paying the tax due. We set out the basic elements. Key features The…

Read The Guide
credit control

Credit Control

Credit Control Obtaining new customers is great for business, unless they fail to pay you. What are the points to consider when taking on a new customer? Obtaining new customers…

Read The Guide
criminal finances act

Criminal Finances Act 2017

Criminal Finances Act 2017 The Criminal Finances Act 2017 came into effect on 30 September 2017. We take a look at the key aspects of the Act and the implications…

Read The Guide
data security access

Data Security – Access

Data Security – Access The key issues to consider when reviewing the storage of and access to personal data on computers and networks. Many businesses are now completely reliant on…

Read The Guide
data security backup

Data Security – Backup

Data Security – Backup The key issues to consider when reviewing the backup of data on your computer system. Many companies are now completely reliant on the data stored on…

Read The Guide
data security cloud outsourcing

Data Security – Cloud and Outsourcing

Data Security – Cloud and Outsourcing Cloud data storage and outsourcing can often be more secure than using internal resources however there are some additional things to bear in mind.…

Read The Guide
data security data loss risk reduction

Data Security – Data Loss Risk Reduction

Data Security – Data Loss Risk Reduction The key issue to consider is to ensure that your data is not stolen or inadvertently ends up in the public domain. Many…

Read The Guide
general data protection regulation

Data Security – General Data Protection Regulation

Data Security – General Data Protection Regulation The General Data Protection Regulation (GDPR) replaced the Data Protection Act and applies from 25 May 2018. Whilst there are similarities between the…

Read The Guide
gdpr preparation

Data Security – General Data Protection Regulation – Preparation

Data Security – General Data Protection Regulation – Preparation The General Data Protection Regulation (GDPR) replaced the Data Protection Act and applies from 25 May 2018. The new GDPR requires…

Read The Guide
dismissal procedures

Dismissal Procedures

Dismissal Procedures There have been many changes to employment law and regulations in the last few years. A key area is the freedom or lack of freedom to dismiss an…

Read The Guide
employee expenses

Employee Expenses

Employee Expenses This guide considers the operation and reporting of expenses and benefits. A new exemption regime for such expenses replaces the need to report these items on P11Ds as…

Read The Guide
employer supported childcare

Employer Supported Childcare

Employer Supported Childcare We consider the implications of this type of benefit on the employer and employee. Employer supported childcare, commonly by way of childcare voucher, is for many employers…

Read The Guide
employment benefits

Employment Benefits

Employment Benefits Today the remuneration of many directors and employees comprises a package of salary and benefits. Essentially two tests must be applied in determining the tax implications of any…

Read The Guide
enterprise investment scheme

Enterprise Investment Scheme

Enterprise Investment Scheme The purpose of the Enterprise Investment Scheme (EIS) is to help certain types of small higher-risk unquoted trading companies to raise capital. It does so by providing…

Read The Guide
fixed rate expenses

Fixed Rate Expenses

Fixed Rate Expenses We consider an optional system of fixed rate expenses which is available for some businesses. The rules allow the use of a ‘simplified’ fixed rate deduction instead…

Read The Guide
franchising

Franchising

Franchising Franchising is a flourishing industry boasting nearly 1,000 brands in a multitude of different sectors. The business community now takes franchising very seriously and the industry consistently shows 90%…

Read The Guide
fraud and how to spot it

Fraud and How to Spot It

Fraud and How to Spot It Whether you employ a small team or a significant workforce, this guide considers how you can increase your awareness of the factors that indicate…

Read The Guide
business grants

Grants

Business Grants Whether you are looking to expand, undertake a specific project or simply fund your day to day purchases, finance is essential. Ensuring adequate finance is a fact of…

Read The Guide
homeworking tax relief

Homeworking and Tax Relief for Employees

Homeworking & Tax Relief for Employees Homeworking has become the answer for many but how have the tax rules kept up with these changes? Over the last ten years technology…

Read The Guide
homeworking costs

Homeworking Costs for the Self-Employed

Homeworking Costs for the Self-Employed The tax rules differ considerably depending on whether you are self-employed or whether you are an employee. Over the last ten years technology has advanced…

Read The Guide
incorporation of a company

Incorporation of a Company

Incorporation of a Company In this guide we summarise the potential tax savings available from operating as a company. The issue of whether to run your business as a company…

Read The Guide

Individual Savings Accounts

Individual Savings Accounts Successive governments, concerned at the relatively low level of savings in the UK economy have over the years introduced various means by which individuals can save through…

Read The Guide
inheritance tax summary

Inheritance Tax – a Summary

Inheritance Tax – a Summary Inheritance tax (IHT) is levied on a person’s estate when they die, and certain gifts made during an individual’s lifetime. Gifts between UK-domiciled spouses during…

Read The Guide
inheritance tax avoidance

Inheritance Tax Avoidance – Pre-Owned Assets

Inheritance Tax Avoidance – Pre-Owned Assets Inheritance tax (IHT) was introduced approximately 30 years ago and broadly charges to tax certain lifetime gifts of capital and estates on death. With…

Read The Guide
insuring your business

Insuring Your Business

Insuring Your Business In this guide we consider the different types of business insurance you need to consider. When starting a new business, you will no doubt recognise the need…

Read The Guide
internet and email access policy

Internet and Email Access Policy

Internet & Email Access Policy Protect the organisation’s exposure to rogue software, legal action, and loss of corporate/personal data. It can also help in disputes with employees. In order to…

Read The Guide
ir35 personal service companies

IR35 Personal Service Companies

IR35 Personal Service Companies The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions (NICs) through the use of personal service companies and partnerships. The…

Read The Guide
legal working in the uk

Legal Working in the UK

Legal Working in the UK Here we provide an overview of the documentation required to ensure that your business does not fall foul of the law. In line with the…

Read The Guide
limited liability partnerships

Limited Liability Partnerships

Limited Liability Partnerships Read our guide to understand the the key advantage of a LLP compared with a traditional partnership. Most important features of LLPs The key advantage of a…

Read The Guide
making tax digital for individuals

Making Tax Digital for Individuals

Making Tax Digital for Individuals In this guide we outline some of the key issues for individuals including the Personal Tax Account and Simple Assessment. Over the coming years, the…

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making tax digital for vat

Making Tax Digital for VAT

Making Tax Digital for VAT This guide outlines some of the key issues for businesses. Over the coming years, the government will phase in its landmark Making Tax Digital (MTD)…

Read The Guide
managing absence

Managing Absence

Managing Absence Recent surveys indicate that the adverse impact of absence on business profitability today is significant. We consider the main principles of effective absence management. Recent statistics show that…

Read The Guide
micro entity accounting

Micro Entity Accounting

Micro Entity Accounting Small companies, which qualify as ‘micro-entities’, have a choice of accounting standards. Read on to find out more… Small companies, which qualify as ‘micro-entities’, have a choice…

Read The Guide
money laundering high value dealers

Money Laundering – High Value Dealers

Money Laundering – High Value Dealers HMRC have been given the responsibility for supervising High Value Dealers. We outline below the main requirements of the Regulations and the registration process.…

Read The Guide
money laundering proceeds of crime

Money Laundering and the Proceeds of Crime

Money Laundering & Proceeds of Crime There are tough rules to crack down on money laundering & the proceeds of crime. These rules affect a wide range of people &…

Read The Guide
national insurance

National Insurance

National Insurance National insurance contributions (NICs) are essentially a tax on earned income. We highlight the areas you need to consider and identify some of the potential problems. The NICs…

Read The Guide
national minimum wage

National Minimum Wage

National Minimum Wage The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be…

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non domiciled individuals

Non-Domiciled Individuals

Non-Domiciled Individuals This guide sets out the rules which deal with the taxation in the UK of income arising outside the UK, for non UK domiciled individuals. The issue An…

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payroll basic procedures

Payroll – Basic Procedures

Payroll – Basic Procedures There are certain statutory payments you may have to make from time to time which you need to be aware of. New employer In order to…

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payroll real time information

Payroll – Real Time Information

Payroll – Real Time Information We set out below details of how payroll information has to be submitted to HMRC under Real Time Information (RTI). RTI – an introduction Under RTI,…

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pensions tax reliefs

Pensions – Tax Reliefs

Pensions – Tax Reliefs We set out below the tax reliefs available to members of a money purchase Workplace scheme or a Personal Pension scheme. Types of pension schemes There…

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pensions tax treatment on death

Pensions – Tax Treatment on Death

Pensions – Tax Treatment on Death We look at the rules which may allow a pension fund to pass free of all taxes on the estate of the deceased and free…

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personal tax dividends interest

Personal Tax – Dividends and Interest

Personal Tax – Dividends and Interest Dividend and savings allowances are available. We consider the opportunities and pitfalls of the personal tax rules. Dividend income When dividends are received by…

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personal tax self assessment

Personal Tax – Self Assessment

Personal Tax – Self Assessment Under the self assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time.…

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when is income tax payable

Personal Tax – When is Income Tax and Capital Gains Tax Payable?

Personal Tax – When is Income Tax and Capital Gains Tax Payable? Under the self assessment regime an individual is responsible for ensuring that their tax liability is calculated and…

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property investment buy to let

Property Investment – Buy to Let

Property Investment – Buy to Let Buy to let involves investing in property with the expectation of capital growth with the rental income from tenants covering the mortgage costs and…

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property investment tax

Property Investment – Tax Aspects

Property Investment – Tax Aspects Investment in property has been and continues to be a popular form of investment for many people. Investment in property has been and continues to…

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raising finance

Raising Finance

Raising Finance Guidance on types of finance available and the planning required before approaching any lending institution. Who needs finance? Every business from its commencement and through its development and…

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recruitment procedures employment law

Recruitment Procedures – Employment Law

Recruitment Procedures – Employment Law How do you make sure you don’t break the law? We set out the main principles involved in the recruitment of employees. Most claims for…

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recruitment procedures

Recruitment Procedures – 7 Steps for Good Procedures

Recruitment Procedures – 7 Steps for Good Procedures Using sensible procedures will improve recruitment decisions and the quality of the people taken on. In order to avoid the danger of…

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redundancy procedures

Redundancy Procedures

Redundancy Procedures We set out below the main principles involved concerning the redundancy of employees. There have been many changes to employment law and regulations in the last few years.…

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people with significant control register

Register of People with Significant Control

Register of People with Significant Control Companies are required to keep a register of people with significant control (PSC register) and, file relevant information at Companies House. This requirement is…

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research and development

Research and Development

Research and Development Research and development (R&D) by UK companies is being actively encouraged by Government through a range of tax incentives. The government views investment in research and development…

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securing business success

Securing Business Success

Securing Business Success As many as half of all businesses fail in their first three years of trading. A contributor to ensuring business success and avoiding failure is to know…

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seed enterprise investment scheme

Seed Enterprise Investment Scheme

Seed Enterprise Investment Scheme The Seed Enterprise Investment Scheme (SEIS) provides tax relief for individuals prepared to invest in new and growing companies. It is the junior version of the…

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share ownership employees

Share Ownership for Employees – EMI

Share Ownership for Employees – EMI Retaining and motivating staff are key issues for many employers. Learn more about Enterprise Management Incentives (EMI) Enterprise Management Incentives (EMI) Retaining and motivating…

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small company accounting

Small Company Accounting

Small Company Accounting The required format of statutory accounts that small companies have to prepare and send to Companies House has changed. This guide sets out the choices that small…

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social enterprise entity structures

Social Enterprise Entity Structures

Social Enterprise Entity Structures A social enterprise entity is a business with primarily social objectives and there are various legal forms that should be considered. A social enterprise entity is…

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sources of finance

Sources of Finance

Sources of Finance Get the financing right and you will have a healthy business, positive cash flows and ultimately a profitable enterprise. The financing of your business is the most…

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stamp duty land tax

Stamp Duty Land Tax

Stamp Duty Land Tax SDLT is payable by the purchaser in a land transaction occurring in England and Northern Ireland. Who pays the tax? SDLT is payable by the purchaser in…

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statutory residence test

Statutory Residence Test

Statutory Residence Test The Statutory Residence Test (SRT) provides, through a series of tests, a definitive process to determine the UK residence status of any individual. The concept of residence…

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statutory sick pay

Statutory Sick, Statutory Maternity and Statutory Paternity Pay

Statutory Sick, Statutory Maternity & Statutory Paternity Pay This guide sets out the main principles of the regulations and what an employer needs to consider. Statutory Sick Pay (SSP), Statutory…

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tax free childcare

Tax-Free Childcare

Tax-Free Childcare The government has introduced a tax incentive for childcare. Overview Under TFC the tax relief available is 20% of the costs of childcare up to a total of…

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taxation of the family

Taxation of the Family

Taxation of the Family We highlight below the main areas of importance where advance planning can help to minimise overall tax liabilities. Individuals are subject to a system of independent…

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travel subsistence directors employees

Travel and Subsistence for Directors and Employees

Travel & Subsistence for Directors & Employees We highlight the main areas to consider in deciding whether tax relief is available on travel and subsistence. Travelling and subsistence expenditure incurred…

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trusts

Trusts

Trusts Trusts are a long established mechanism which allow individuals to benefit from the assets whilst the trustees have the legal ownership and day to day control over the assets.…

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valuing your business

Valuing Your Business

Valuing Your Business We consider the range of methods available to calculate the value of your business as well as some of the factors to consider during the process. It…

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vat bad debt relief

VAT – Bad Debt Relief

VAT – Bad Debt Relief Bad debt relief allows businesses, that have made supplies on which they have accounted for and paid VAT but for which they have not received…

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vat cash accounting

VAT – Cash Accounting

VAT – Cash Accounting Cash accounting enables a business to account for and pay VAT on the basis of cash received and paid rather than on the basis of invoices…

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vat annual accounting scheme

VAT Annual Accounting Scheme

VAT Annual Accounting Scheme The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four. HMRC have introduced a…

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vat flat rate scheme

VAT Flat Rate Scheme

VAT Flat Rate Scheme The flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT. Under the scheme a set percentage is applied…

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vat for small business

VAT – 7 Key Points for the Smaller Business

VAT – 7 Key Points for Small Business This guide focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight common risk areas as…

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venture capital trusts

Venture Capital Trusts

Venture Capital Trusts VCTs are quoted companies which are required to hold at least 70% of their investments in shares or securities that they have subscribed for in qualifying unquoted…

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guide to auto enrolment

Guide to Auto Enrolment

Guide to Auto Enrolment The law on workplace pensions has changed. Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and…

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guide to business expenses

Guide to Business Expenses

Guide to Business Expenses If you run a limited company, the information below will help you to work out what business expenses you can claim tax relief on. Claiming Tax…

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guide to company director duties

Guide to Company Director Duties

Guide to Company Director Duties When you become the director of a limited company, there are rules and regulations you must follow, as detailed in the guide below. Introduction As…

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guide to digital marketing

Guide to Digital Marketing

Guide to Digital Marketing The guide below provides useful information on implementing digital marketing strategies within your business for growth. Introduction “If you build it he will come.” In the classic…

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guide to finding accountant

Guide to Finding the Right Accountant

Guide to Finding the Right Accountant The guide below provides useful information when it comes to looking for the ideal accountant for you and your business. Finding The Right Accountant…

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guide to finding work

Guide to Finding Work

Guide to Finding Work Find out how you can find work and plan your working year when you operate as a contractor or freelancer. Introduction Welcome to the Accountants etc.…

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guide to mortgages self employed

Guide to Mortgages

Guide to Mortgages Obtaining a mortgage as a contractor or freelancer used to be a hassle. Learn about how this has changed and your options in this guide. Introduction A…

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guide to pensions

Guide to Pensions

Guide to Pensions & Retirment Planning Find out about the different pension options and how they affect you. A Bit of Background What is a Pension? It is common to…

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guide to starting a business

Guide to Starting a Business

Guide to Starting a Business Setting up a limited company is one of the most popular ways to structure a business. Read the guide to learn more… Introduction If you…

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guide to umbrella and limited companies

Guide to Umbrella & Limited Companies

Guide to Umbrella & Limited Companies There are advantages and disadvantages of each. We have put together a simple guide that explains the pros and cons. Introduction In April 2017,…

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guide to vat

Guide to VAT

Guide to VAT In this guide, we walk you through the different VAT schemes and explain how to comply with the relevant laws. Introduction Being VAT (value added tax) registered…

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