Insights

Browse 44 Insights about Bookkeeping

No Retained Profits – How To Extract Cash To Cover Living Expenses? 21 Jul 2021 Bookkeeping, Employment, Strategy, Tax - A popular strategy is to take a small salary which is at least equal to the lower earnings limit and to extract further profits as dividends.
Update to Company Car Mileage Rates 3 Jul 2020 Bookkeeping, Tax - HMRC mileage rates used by employers wishing to pay their employees the cost of fuel for business journeys in company cars have been updated on 1 June 2020.
Claiming Expenses For Running A Business From Home 2 Jun 2020 Bookkeeping, Employment, Tax - Businesses using the cash basis can claim flat rate expenses for working from home and living at the business premises.
How To Enrol For PAYE Online 21 Apr 2020 Bookkeeping - You only need to enrol separately if you did not get a login when you registered as an employer - this is usually because you did not register online.
Upcoming Changes For Employment Allowance 2 Mar 2020 Bookkeeping, Employment, Tax - From 6 April 2020, access to the Employment Allowance is limited to businesses and charities with an employer NICs bill below £100,000.
Recording Director’s Expenses Correctly 21 Feb 2020 Bookkeeping - Transactions between company and directors may affect tax due. If at the end of an accounting period the director owes the company a tax charge may arise.
SME R&D Tax Credits or RDEC: Which One Do You Qualify For? 17 Feb 2020 Bookkeeping, Fundraising, Tax - As you may know, there are two main R&D Tax Credit schemes. Whether the claiming company is eligible for the SME scheme or the RDEC, depends on its size. But how do we define size?
R&D Expenditure: Which Costs Qualify? 3 Feb 2020 Bookkeeping, Fundraising, Tax - There are 5 categories of R&D expenditure that are eligible for R&D Tax Credits. These include cost of staff and subcontractors, consumables and software.
Tax Relief On Business-Related Loans 4 Nov 2019 Bookkeeping, Fundraising, Tax - If you take out a loan for business purposes, chances are you can benefit from tax reliefs on the interest. Special rules apply if you are using cash basis.
The Founders’ Guide To Trading In Foreign Currencies 8 Oct 2019 Bookkeeping, Strategy - With more and more companies trading online, being able to accept foreign currencies is becoming a must, but it comes with some accounting requirements.
Company Expenses Policy: All The Pro Tips 16 Sep 2019 Bookkeeping, Tax - Establishing a clear expenses policy will help you manage claims in a more efficient manner, giving you a clearer and more predictable overview of costs.
Cash Basis: Simplified Expenses For Smaller Businesses 5 Aug 2019 Bookkeeping, Employment, Tax - Certain unincorporated small businesses may choose to use the cash basis when calculating taxable income, under which participants are taxed on the basis of the cash that passes through their books.