Employers looking to spread some seasonal cheer can do so in a tax-efficient manner by taking advantage of the exemptions for annual parties and functions and trivial benefits. Christmas parties The tax exemption for annual parties and functions will only apply to a Christmas party if the following conditions are met. Some points are […]
Tax-efficient Christmas parties and gifts Read More »
When starting a business, there are a number of ways in which this can be done. Options include operating as a sole trader, forming a partnership or setting up a limited company. Of these, operating as a sole trader is the simplest. Taxes you must pay If you run an unincorporated business as a
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In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may withdraw money from the company for personal use or may lend money to the company. The company may pay some of the director’s personal bills, and the director may personally meet some company expenses.
Overdrawn director’s loan account – must your company pay tax on the balance? Read More »
Over the past few years, tax enquiries aimed at identifying and correcting errors or deliberate under-reporting in tax returns have increased. HMRC generates substantial revenue from all compliance activities and although the exact proportion relating to tax enquiries is not always separately reported, the latest figures show that for 2023-24 the amount secured from all
Should you dispose of old documents? Read More »
Anyone who invests in a company is taking a chance, hoping that the directors, as representatives of the company, will use the money to increase the company’s profit. In return for taking this chance, a shareholder receives ‘payback’ usually as a share in the distribution of profits in the form of a dividend, however. payment
The company makes a loss – can a dividend be paid? Read More »
In business (and life for that matter!), the only consistent thing, is change. So the question is, “How can you move your business forward when you’re constantly facing uncertainty?” Whether it’s a pandemic disrupting supply chains or a new national government, geopolitical shifts like Brexit rewriting trade rules, uncertainty tests every organisation’s resilience. However, it
How to lead during periods of uncertainty Read More »
There’s no doubt about it: financial forecasting can be complicated. And while most business owners understand its importance, very few fully grasp its nitty gritty and how to maximise its value. As accountants, that’s where we come in. From helping countless businesses develop forecasts, we’ve compiled a list of our top tips to help you
8 forecasting tips from an accountant Read More »
For small companies, obtaining tax-efficient funding involves leveraging various schemes and incentives that minimise tax liabilities while maximising capital inflow. These schemes are designed to attract investment by offering tax reliefs to investors, making it more appealing for them to invest in small and growing businesses. Several government-endorsed tax incentives have been implemented to encourage
Every business experiences its ups and downs, with periods where the workload spikes and feels never-ending. Typically, during busy periods, it’s easy to get overwhelmed by a mountain of customer demands, emails, and fires to put out…sound familiar? If so, you’re not alone. Many business owners and professionals encounter this ebb and flow. But before
How to Conquer Your Workload Read More »
Are you looking forward to a holiday but worried about managing your clients during your time off? Balancing work and a well-deserved break can be challenging, but it doesn’t have to be stressful. Follow this step-by-step guide to manage client expectations and ensure you can fully enjoy your holiday without any lingering work concerns. You
Going on holiday? Here’s how to manage client expectations Read More »
