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Recent Articles

VAT Control visits by HMRC

Recent VAT inspections by HMRC seem to be widening into more than just VAT matters. Since HM customs and excise and the Inland Revenue now work more closely together, there has been a noticeable increase, in last 5 or 6 months especially, of reviews of Tax Returns, Accounts and VAT returns. This is directly following […]

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IT Investment?

Many of our clients are continuing to be quite cautious about their spending budgets, given the ongoing uncertainties in the overall business market. This article from today’s Telegraph illustrates well the issues faced currently by many businesses: http://www.telegraph.co.uk/finance/yourbusiness/7960391/Companies-postpone-IT-spending-in-preperation-for-second-recession.html Those clients who continue to focus their IT budgets on reducing costs, streamlining workflow and developing cutting edge IT solutions […]

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Professionally prepared books will save accountants fees

This article has appeared in this months’ Business Network magazine: ‘Small business owners have been told that looking after the books is a waste of their valuable time and they should concentrate on running their business . That was the advice given to small business leaders by Garry Carter, Chief Executive of the Institute of […]

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Employer Compliance

I recently attended an ‘Employer Compliance’ seminar for professional accountancy bodies. It was run by an experienced tax consultant with 23 years experience as Senior Tax Officer for the HMRC. Employers have a legal obligation to operate PAYE on payments to employees above the National Insurance Lower Earnings Limit (LEL). Employers are also obliged to pay over to […]

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5 Reasons Why Hiring A Good Bookkeeper is an Absolute Necessity

Many new business owners come to the conclusion that they can easily do their own bookkeeping themselves. After all, how difficult can it be, right? They think that with all the great accounting software available today that it should be a piece of cake to take care of it themselves. Nothing could be further from […]

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10 things you can do right now to improve business cash flow

Cash flow refers to the money coming into a business from selling its products and the money it spends on all aspects of production. Ideally, you will have more money flowing into the business than out. This will allow you to build up cash balances to deal with short-term costs – such as bills or expenses […]

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4th January 2011 - Increase in the Standard rate of VAT to 20%

To all clients and blog followers please note that as of tomorrow HMRC VAT states that the following applies: 'The standard rate of VAT is currently 17.5 per cent but increases to 20 per cent on 4 January 2011. For any sales of standard-rated goods or services that you make on or after 4 January 2011 you […]

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HMRC training

Did you know that the HMRC Business Education Support Teams (BEST!) run a range of free workshops across the country? This may leave some business owners struck cold with the thought of long complicated lectures on tax calculations! But don't panic -most Workshops only last two hours. How do they help? Workshops are run on a variety […]

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Business Agility and Cost Saving

Small to Medium business enterprises need to keep pace with competitors in the market and, in an increasingly global market economy, need to be able to react internationally if overseas business opportunities arise. Investing in IT has never been so important for business and can really deliver increased turnover. Great link to short video below explains […]

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Increase in the standard VAT rate from 1st Jan 2010

The standard rate of VAT was temporarily reduced to 15 per cent on 1 December 2008 and it will return to 17.5 per cent on 1 January 2010. For any sales of standard-rated goods or services that you make on or after 1 January 2010 you must charge VAT at the rate of 17.5 per […]

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