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Bounce Back Loans, Illegal Dividends and Buying Cars

Bounce Back Loans, Illegal Dividends and Buying Cars

What is a Bounce Back Loan Bounce back loans are one of the many packages of financial support available for those businesses that have suffered as a result of Covid. You can apply for a Bounce Back Loan if your business: is based in the UK was established before 1 March 2020 has been adversely impacted by the coronavirus The purpose of the loan is to help the … [Read more...]

Fraud prevention measure and how it can scupper your business receipts

Fraud prevention measure and how it can scupper your business receipts

  Many banks have recently introduced a fraud prevention measure to ensure that scammers cannot make people pay them instead of a genuine supplier. The background The banking change has come about due to the increase in a very simple invoice fraud. A scammer would find out, via an active marketing or PR campaign, who a company had won a contract with. They would then … [Read more...]

IR35 tip for delayed legislation

IR35 tip for delayed legislation

As many of you will know the proposed IR35 legislation implementation in the private sector has been delayed for a year. This may be too late for some and for others this may be good news. However one thing that is important to remember is that if you have already been assessed to be within IR35 you will operate at considerable risk if you continue under the old … [Read more...]

Diversity is different in Accountancy

Diversity is different in Accountancy

  While delighted to be a judge for the Women in Accountancy and Finance Awards, I was intrigued to find that Male Diversity Champion was on my list of categories to pore over. For those of you that don’t know me, I’ve never been shy in flagging up examples of men who fail to support others in the workplace. But I don’t criticise just for the sake of it, and I do … [Read more...]

The Tax system makes simple self assessments far too complicated

The Tax system makes simple self assessments far too complicated

I’m a great believer that where we have a tax regime demanding self assessment (clue in the title – the onus is on us to report income to assess how much tax we pay) then TAX SHOULD BE SIMPLE. The Tax Rules should be something that each and every tax payer in the UK can understand. However there are a number of things that make the tax system unnecessarily … [Read more...]

VAT Flat Rate Scheme should be abolished?

VAT Flat Rate Scheme should be abolished?

Rendered all but useless to many by the Limited Cost Business rules introduced in April 2017, the VAT Flat Rate Scheme seems to be one that’s inciting business owners to actively seek out tax evasion tactics to avoid the application of the 16.5% standard Flat Rate percentage. It’s time for the whole scheme to be reviewed and potentially abolished. Background to the Flat … [Read more...]

How to avoid sleepless nights worrying about HMRC catching you out on your Tax Scheme

How to avoid sleepless nights worrying about HMRC catching you out on your Tax Scheme

“Nothing is certain but death and taxes” – a phrase attributed to multiple authors including Benjamin Franklin. Whoever said it they were certainly correct. The taxes raised pay for the Public Services that we need and consume – road, health service, Police, Ambulances, Education to name but a few. If as a Nation we want Public Services then we need to fund these by way of a … [Read more...]

I’ll do anything for Tax but I won’t do that

I’ll do anything for Tax but I won’t do that

  Contrary to popular opinion, the life of a Chartered Accountant is far from dull. The stories some people share with us are extraordinary.  It’s almost like being a Priest except, for those accountants who are regulated (not all are but that’s a different story) we have a legal obligation, under Money Laundering Rules, to report any financially suspicious behaviour we … [Read more...]

Important Stuff!

Self Employed Key Facts 2020 / 2021

Self Employed Key Facts 2020 / 2021

… [Read More...]

Salary and Dividends for 2020 / 2021

Salary and Dividends for 2020 / 2021

… [Read More...]

Why I recommended FreeAgent

Why I recommended FreeAgent

… [Read More...]

Income, Profit, TAX POT and Earnings

Income, Profit, TAX POT and Earnings

… [Read More...]

How to extend your filing deadline HACK – Limited Company

How to extend your filing deadline HACK – Limited Company

… [Read More...]

20 things every small-business owner should know about VAT

20 things every small-business owner should know about VAT

… [Read More...]

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Recent Posts

  • Virtual 2020 Christmas Tax Allowable Party
  • Tips for Start up Freelancers
  • Bounce Back Loans, Illegal Dividends and Buying Cars
  • Fraud prevention measure and how it can scupper your business receipts
  • Important- defer your July Payment on Account

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