With the rapidly changing nature of the COVID-19 outbreak, information and advice from Government can change quickly. For all the latest Government information on COVID-19 and the measures the Government, are taking, please use the following links; UK Government guidance NHS – condition overview World Health Organisation – advice for the public Steps we have…
Budget Day 2020 started off with interest rate cuts announced by the Bank of England in order to support the economy amid the Cornonavirus outbreak. Interest rates have been cut from 0.75 to 0.25% taking borrowing costs back down to the lowest level in history. There were further announcements made about the support that the…
The CIS VAT reverse charge applies to sales of construction work from 1 October 2020. The VAT reverse charge for construction is effectively an extension of the CIS and applies only to transactions between VAT registered contractors and sub-contractors who are registered for CIS. The scheme means that those supplying construction services to a VAT…
Gin has a long history, but since 2016 in particular, it seems to be the word, and drink, on everyone’s lips. We gave small business owner, Carly, the very difficult task of investigating the best ways to spend a day off in Cornwall – take a look at what she got up to in the…
As its Mental Health Awareness Week we have put together this short guide on work place stress. Stress isn’t always bad. A little bit of stress can help you stay focused, energetic, and able to meet new challenges in the workplace. It’s what keeps you on your toes during a presentation or alert to preventing…
We may be well into the New Year already but there is never a bad time to make some time to review your business and consider ways to improve. We have put together our top 7 New Years Resolutions to give you some ideas as to how you can become more efficient and hopefully make…
Making Tax Digital for VAT – Ensuring your business is Software Ready The start of Making Tax Digital for VAT (MTDfV) is rapidly approaching, with businesses and landlords generating turnover above the VAT threshold (currently £85,000) having to comply with the new system from 1 April 2019. Those businesses and landlords generating income below the…
As a director of a limited company, you have some flexibility as to how you withdraw money from the company. This could be as wages, dividends, pension or a combination of all three. Getting the right balance is key to taking your money in the most tax efficient way possible. In reality, most directors take…
When it comes to completing your tax return, you may be wondering what expenses you can offset against your sales. Some expenses are obvious, for instance; the materials you’ve purchased to make your products, but other expenses may not be so obvious. For some expenses, you can claim a flat rate allowance rather than keeping…
Finance Cost Restriction Until recently, landlords could offset all of their mortgage interest payments against their rental income, but from 6 April 2017, this relief is gradually being phased out. Although these changes have been around for a while now, we are starting to see the initial impact on our clients as we are start…