Common Business Tax Mistakes to Avoid Set out below are some of the mistakes that many businesses have already made, so that you don’t have to… If I HAD to pay for It, it MUST be allowable They don’t come more classic than this. Typically, it will be self-employed...
If A Business Does Not Pay Its Supplier, It Must Repay HMRC The Input Tax Claimed A business can only keep the input tax it has recovered on a supplier’s invoice if it pays the bill within six months of the date of the invoice, or if later the date on which payment...
Maintaining Client Relationships It costs considerably less to maintain an existing client relationship versus winning a new client. Creating more successful relationships with your existing clients depends on developing a broader and deeper relationship. Business is...
The Benefits Of Outsourcing There are only so many hours in the day and you / your team probably don’t have the bandwidth to do everything that you would like to do. Outsourcing can save you time and money, but there are many other reasons to consider outsourcing...
Leadership Skills The best business managers and leaders create a vision of the future that is compelling and motivates employees to want to achieve it. Great business leaders help the members of their team to connect what they do with the business’s overall strategy...
Instant Messaging Versus Email For most businesses, email remains a key method of both internal and external communication. However, there has been a significant rise in the popularity of instant messaging. So what does this mean for you and your business? Most of us...
Changes To Termination Payments Care is always required when employees are made redundant or payments are made on the termination of employment. Not only are there employment law considerations, there are also important tax implications and this is an area where...
Are You Sure You Or Your Workers Are Self-Employed?Last year we reported that the House of Commons Work and Pensions Committee published a report calling on the Government to close the loopholes that allow “bogus” self-employment practices, which burden the welfare...
Important - General Data: Protection RegulationThere are major changes coming to how businesses must handle personal data. This will be taking effect from 25th May this year. This new legislation (abbreviated to 'GDPR') introduces more strict rules as to how personal...
Learn From The BestWe can all learn something from the world’s leading businesses like Apple, Google, Salesforce and Amazon. These firms have invested millions of pounds in order to find new and better ways to run their various business lines. Here are some tips that...
Managing ChangeIn business, change is inevitable. The business landscape is constantly evolving and how effectively you manage change can determine the success or failure of your firm.Communication is KeyAny time there is a major change in a business, there will be a...
Value Is Not The Same As PriceIn order to create an effective pricing strategy for your products or services, you need to understand your customer’s perceived value of your offering.Value is a complex issue. Different customers perceive the value of a product or...
Key Trends To Watch In 2018Technology and innovation are driving the evolution of most businesses these days. Here are some of the key business trends to watch out for in 2018.Blockchain and cryptocurrenciesA blockchain is a digital, decentralised, public ledger of...
Put Life Cover On Expenses With a Relevant Life PlanDo you want to provide valuable life cover and financial security for your employees and your family in a tax efficient manner? A Relevant Life Plan could be the answer.What is a Relevant Life Plan?A Relevant Life...
The Importance of Boardroom DiversityA more diverse team is of great benefit to any business. People with different backgrounds, values, skills and personalities working together as a team can help a business to come up with innovative solutions to complex...
Value Based PricingA value-based pricing strategy is one which sets prices primarily, (but not exclusively), in line with the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or historical...
MUST OWN 5% OF ORDINARY SHARES TO QUALIFY FOR CGT ENTREPRENEURS RELIEFIn order for a shareholder to qualify for CGT entrepreneurs relief on the disposal of their shares, they must be an officer or employee of the company (or group) and hold 5% or more of the company's...
Password SecurityEvery day, we read stories about the latest business to suffer from a cyber attack. Businesses install quality security software and password protected servers to guard against cyber threats. However, the weakest link in your IT security could be your...
When Is A Company Van Not a Van?The P11d benefits on company vans are generally much lower than company cars and where private use of the van is merely incidental to its business use by the employee, then there is no taxable benefit at all. But when is a van not a...
Reporting Expenses and Benefits Provided To EmployeesHMRC have recently updated their toolkit dealing with the reporting of expenses and benefits provided to employees and directors in the light of significant recent changes in this area.HMRC toolkits are designed to...
Reporting VAT Online - Aren't We Doing That Already?Last month we reported that the government had announced the delay of Making Tax Digital for Business (MTDfB) to 2020 at the earliest but that quarterly VAT reporting, using the new system will be mandatory from...
Is Your Company Carrying Out Research And Development?Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). Revenue and Customs (HMRC) have recently updated their guidance on claiming R&D tax credit relief and...
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