Accounting for Jargon: Common Bookkeeping Terms Explained

Every business owner and even laymen should have at least a basic understanding of common accounting terms. You never know when you’ll face an accounting emergency! So, without further ado, let’s [...]

VAT Flat Rate Scheme – Why it May Not Be Good for Your Business Anymore

VAT or (Value-Added Tax) has always been more or less a nuisance for business owners. But recently, the VAT Flat Rate Scheme has also been changed in ways that don’t make it viable any longer for [...]

SEIS: Tax Incentive for Your Startup’s First Investors

One of the toughest parts of running your own business is to get investors willing to put their money into your organization. It can be not easy to find investors for your business, especially if [...]

5 Reasons Your Small Business Needs Bookkeeping Services

Running a business is far from easy – there are many things to do, many things to look after. If you are running one on your own, it gets even more complicated since you have to deal with [...]

Pros and Cons of Limited Company vs Sole Trader

You’ve made a thrilling, life changing decision to set up your own business. Along with excitement and anticipation of an amazing journey ahead come, understandably, worrisome questions: How do I [...]

10 ways to save on taxes: Tips for small business owners

  Low Salary and High Dividends. This is the most common method of reducing your personal income tax liability and corporation tax (business) liability. The income tax rate payable on [...]

All you need to know about Construction Industry Scheme (CIS) for Contractors

Overview: Your business must register with HMRC as a contractor if you are: paying subcontractors to do construction work for you, or – not in a construction business but still usually [...]

EC Sales List: General overview

What is an EC Sales List? An EC Sales List includes information on all sales and transfers of goods or services to any VAT registered companies in the United Kingdom which supply goods or [...]

R&D Tax Relief for Small and medium-sized enterprises

Overview         Research and Development (R&D) relief is for companies that work on innovative projects within science and technology. It can be claimed by a range of companies that seek to [...]

Confirmation Statement: Everything You Need to Know

What is a confirmation statement? A confirmation statement is the new term for the more commonly known annual return. What is the purpose of a confirmation statement? It is a yearly requirement [...]

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