The Importance Of Business Networking

Establishing great relationships with other like-minded business people can provide a lifeline of support and business generation for a start-up or small business at any stage.   Networking is a great way to share your successes and mistakes with others and will play an important part in growing a sustainable business.  Inevitably, the main purpose of…

New VAT rules for 2019 – VAT refunds

At the beginning of September, additional new VAT rules for 2019 were brought in, following the introduction of Making Tax Digital (MTD) in April. These new changes were made in order to tighten up existing VAT regulations and ensure businesses cannot gain unfair tax advantages – Her Majesty’s Revenue and Customs (HMRC) claims there is…

Do I need an accountant for a small business?

You do not need an accountant for a small business, legally speaking – small business owners can take care of their finances themselves. However, it is very beneficial for many small businesses to work with an accountant; time is money for entrepreneurs. When an accountant takes care of bookkeeping, taxes, VAT etc., owners have more…

How to start a small business at home

Starting a small business from home is a dream for many people seeking freedom from the nine-to-five routine. It can offer a great deal of flexibility, financial independence and the opportunity to shape your own empire – without needing too many resources. As accountants working primarily with small to medium sized enterprises (SMEs) and start…

Are entertainment expenses tax deductible?

Entertainment expenses are not usually tax deductible for businesses in the UK. This means that you cannot claim tax relief for these expenses to reduce your tax bill, and you cannot claim the VAT back on expenditure either. However, there are circumstances that are not quite so clear cut. Taxation and VAT are complex systems…

Making Tax Digital Bridging Software

If you are a VAT-registered UK business, you will be all too aware that Making Tax Digital came into play for VAT periods that began on the 1st April 2019. This is intended to be an overhaul of the tax and VAT system, making administration more effective, more efficient and easier for taxpayers. And it definitely…