It is often confusing about what you can claim for business purposes, so hopefully this list will aid you in the top tax deductible expenses. This list is only applicable to sole traders, not limited companies! If you work from home, you can claim for using part of your house as an office. The general […]
Everybody looks forward to their holidays, and keeping track of them hasn’t got to be time consuming and a nightmare with Sage 50 Payroll. There are a variety of holiday settings that enable you to set up different holiday schemes, assign them to employees and much more. This will take the stress out of recording […]
As an employer running payroll, you need to: Report to HM Revenue and Customs (HMRC) on the previous tax year (which ends on 5 April) and give your employees a ‘P60’. Prepare for the new tax year, which starts on April 6. 1. Send your Final Payroll Report You need to send your final […]
Ten of the most terrible excuses for missing the 31 January tax return deadline have been revealed today by HM Revenue and Customs (HMRC). Many of the excuses claim it was someone else’s fault – pets, girlfriends, work colleagues and even the President of the United States are named and blamed for taxpayers’ tardiness. The […]
It is true that cash flow in a business is the life blood of the business. Anyone can make a sale but what controls do you have in place to ensure that you will get paid on time? Terms & Conditions Always agree to terms and conditions before lending someone money because that is what […]
Since January is the season of the income tax return in the UK, this month will deal with some basic tax saving tips to ensure you are not paying too much tax. If you are in business, the first thing you would want to avoid is any late filling, as late fillings always come with […]
There are many different VAT schemes available, depending on the size and type of business. In my training company, I quite often teach a little about VAT and am always surprised how many businesses don’t realise that there are different schemes to choose from. Standard VAT Scheme The scheme that everyone has heard of is […]
Starting a business is often a complex affair, with the main decision being whether to become a sole trader or set up as a limited company. What is a sole trader? A sole trader is essential a self-employed person who is the sole owner of their business. It’s the simplest business structure out there – […]