I have been a bookkeeper for quite a few years now and it is always sad when you have to say goodbye to a client.  As a bookkeeper I am trusted with confidential financial information and often become the first port of call for running through new ideas or sharing business issues.  Every business owner […]

If you are earning income from a business activity you must register with HMRC as self-employed (also known as being a sole trader) and submit a self-assessment tax return annually by 31st January each year. A business activity includes: Regularly selling goods to make a profit  Making items to sell for a profit Regularly selling […]

Business owners can’t do it all as much as they would like to.  There just isn’t enough time once your business is growing. Eventually you will feel swamped with paper and to do lists. Everyone has different skills and at the top of your task list will be the things you like to do and […]

Until now employers have had advance warning of when they will have to set up a pension scheme but from October 2017 new employers will not.   Most employers will have received notification of their Staging Date several months if not a year or two previously and will know that their Staging Date is the […]

Having recently carried out “formal” reviews with each of my team I know, for me, it is very valuable. Employee reviews are new to me.  I never had a review in all the years I was an employee so when it was suggested I carry out regular reviews with each of my employees I had […]

If any of your employees have expenses or benefits it is time to prepare your P11D and/or P11D(b) for the 2016-17 tax year. These must be submitted by 6 July 2017 and any Class 1A NICs due on these expenses and benefits must be paid by 22nd July 2017. HMRC changed what needs to be […]

Did you know that if your employee is not reimbursed for travel or other things they buy for work they can claim tax relief?   The tax relief is claimed online using form P87 which is accessible through their Personal Tax Account which they should be able to log in to.  The tax relief may […]

All growing businesses will become VAT registered.  It is not daunting.  You just need to become organised with your record keeping and remember your VAT return deadlines.  So what do you need to know about becoming VAT registered? The new VAT threshold for 2017-18 is £85,000.  What should you do next if you are close to […]

Every individual and every business now has access to an HMRC account which, by 2020, will show their overall tax situation.  VAT, PAYE, Self Assessment Tax and Corporation Tax accounts will all be in one place giving an individual or business owner an overview of their personal and/or business tax liability.  Individuals will be able to […]

Taking time out from the normal day to day routine (although our days are far from routine!) is an opportunity to open your mind to fresh thinking and new ideas. Last week Sarah and I attended Sage Summit in London – a two day conference showcasing Sage products and a chance for Sage to share its recent […]