An overview of the Construction Industry Scheme and what it means for your business
The Construction Industry Scheme (CIS) is a Government initiative that allows contractors in the construction industry to deduct money from a subcontractor’s payments and pass it on to HM Revenue & Customs (HMRC).
Trivial benefits in kind and the advantages they give to employers
It is important for employees to feel valued in the workplace. A lot of the time, it is the little things that employers can provide to their staff that have the most substantial impact.
Understanding salary and dividend payments for business owners and directors
As an owner or director, it may be possible for you to pay less tax on your income from your company through dividends.
Understanding and navigating job expenses
Navigating job expenses can seem daunting at first glance. There are a plethora of rules and regulations that can leave employees feeling overwhelmed.
Late interest penalties hit 1.4 million taxpayers – and it could get worse
The 2020/21 tax year saw 1.4 million people charged interest on overdue tax payments – a 15 per cent increase on pre-pandemic figures.
Managing an Overdrawn Director’s Loan Account
Are you a company director contemplating a loan from your own business? If yes, it’s crucial to understand the workings behind the Director’s Loan Account (DLA) and the implications of an overdrawn director’s loan account (ODLA).
Roadside charging – How to account for credit card payments
With a growing number of company car owners using electric vehicles, many are deciding or being permitted to use company credit cards to pay for roadside charging.
Is cloud accounting the future for businesses?
In the world of entrepreneurship and small businesses, technology continues to revolutionise the way we manage our operations.
The importance for businesses of avoiding tax fraud
HM Revenue & Customs (HMRC) recently announced that it plans to boost its use of Code of Practice 9 (COP9), a legal mechanism used to handle suspected tax fraud cases.
How to spot the early signs that your business may be facing financial difficulty
Many businesses across the UK have been financially affected by the cost-of-living crisis and the rise in inflation and have also suffered from the fallout of Covid-19 loan schemes and companies’ failure to make repayments.
