You may have seen the news that a huge change is hitting tomorrow for anyone that sells clothes or other items online. Back in July 2023 ICAEW reported that OECD rules requiring online marketplaces to report the details and income of the sellers of goods and services on their platforms will apply in the UK. Information on sellers will be …
The ‘A’ Word….
Accounting is often a word that is whispered or buried in the back of one’s mind until a dreaded deadline approaches or the tax man comes knocking. People often comment upon the power of social media and those little e-footprints that are left online. The use of social media into tax investigations and collection of evidence, is becoming more popular. …
VAT
Struggling to keep up with the VAT payments and dreading the quarterly returns! Panicking about where the get the money for the dreaded VAT bill! Tempted to reduce business activity to stay away from the VAT threshold! Sound familiar? Managing VAT can be a stressful time for business especially if hitting the threshold has come as a surprise. In an …
Benefits of submitting your tax return early
Repayments Now this first point needs no introduction really but if you are due a repayment of tax then get your tax return completed and submitted as early as possible. Seriously, the sooner you submit that tax return the sooner you will receive that repayment. Top tip – re-invest the repayment back into the business for further tax relief, or …
Sole Trader VS Limited Company
Choosing the best structure for your business can either be one of the most frustrating or easiest decisions that you will need to make in the early stages of starting your business. One of the ways to make the decision a lot simpler is to fully understand the key differences between choosing to incorporate your business or not. I am …
‘Do you really need an Accountant?’
What an amazing first year in practice! I’ve met with some inspiring beauty businesses, influencers and mentors along the way and a constant topic of many conversations that frequently came up throughout the year had a common theme; Why do businesses need an accountant and how do you select the best accountant for you and your business. After a decade …
The Leap Of Faith
I recently wrote an email to AAT Magazine (Association of Accounting Technicians) after reading a brilliant article about turning points. It got me thinking, I could identify so many but the two that I focused on in my email were the two that identified with the magazine in question. Winning the PQ Accounting Award and then starting my own accountancy …