What is MTDfB? MTDfB is an upcoming piece of legislation from HMRC which will mean that many businesses, including sole traders, will have to send quarterly updates to HMRC, of their income and expenditure in a digital format. HMRC’s MTDfB is currently being piloted on a voluntary basis and the regulation requirements for MTDfB for [...]
A business owner's responsibility includes ensuring that all tax due is paid on a timely basis. For many business owners it is then assumed that they can get on with their business and not have to interact with HMRC until the next tax due pay date. Unfortunately HMRC can, and do, carry out investigations into [...]
On 13 March 2018 Chancellor Philip Hammond delivered his Spring Statement 2018, this time there was there was no red briefcase, no red book, and on a positive note; no tax changes and, as a result, there was a push towards dealing with potential alterations to the tax system via consultation. However, it [...]
We are now approaching the middle of February and time already seems to be picking up pace. Most successful business owners will start any year with enthusiasm for increasing sales and improving the quality of customer delivery . Yet with all the activity and gusto one thing remains a consistent question from business owners; how [...]
Budget 2017 - On the 22nd November the Chancellor of the exchequer, Philip Hammond, announced the Autumn Budget 2017 and outlined his plan for the future of Britain. In comments released ahead of the speech, Mr Hammond strikes an upbeat tone, saying he will use the Autumn Budget 2017 to ‘look forwards, embrace change, meet [...]
The Summer is over, we are now entering Q4 and for many the tax season is once again upon us. It’s always a busy time in September and October, trying to pick up the activities that were left hanging from the holiday season, striving to bring in sales and planning for next year’s growth. Irrespective [...]
It is always important to make a distinction between price and value when making hiring decisions of any kind. It is widely recognised that small businesses do need to be cost conscious, yet we have all experienced the situation where using the ‘cheapest’ option actually leads to unexpected problems and can actually prove to be [...]
Starting, running and growing a business is a challenge and most business owners will agree that having the right type of support is crucial to driving a successful business. Many business owners may, however, be under the impression that the Accountant’s role is purely focussed on end of year accounts and tax submissions, however there [...]
The Spring Budget brought good news and some bad news for small businesses, Enterprise Nation provides a clear summary to understand the changes: Firstly the good news. Small businesses and landlords under the VAT threshold will have an extra year to prepare for Making Tax Digital (MTD). This is the measure which the government will be [...]
Generally business owners work with accountants to meet the necessity for compliance, yet more and more business owners are now speaking out and stating that what they really need from an accountant is to give them the support their businesses really need. There is some very good feedback and data online with regards to what [...]