As part of our Making Tax Digital (MTD) Toolkit for small businesses, sole traders and landlords we have a series of guidance videos demonstrating how to carry out various tasks and get the most from your Quickbooks software https://www.youtube.com/playlist?list=PLkpP8esdBU5niMiNDG7gLYQ32HK_wB_Kn Subscribe to our channel to be notified of new guidance posted: https://www.youtube.com/channel/UCvFm0uCL3tdsuT3E7O0uDsQ We are certified as Advanced… Continue reading Using Your Quickbooks Software
Self-employed Business Expenses You Can Claim
HMRC have some guidance available, via live webinars to help you understand some basic principles of what business expenses you can claim Business expenses for the self-employed: Find out what business expenses are, what is and isn’t allowable and how using simplified expenses can make life easier. Available Friday 14th May 1:45pm or Tuesday 18th… Continue reading Self-employed Business Expenses You Can Claim
HMRC Compliance Checks
About compliance checks HMRC carry out compliance checks to: make sure you’re paying the right amount of tax at the right time make sure you’re getting the right allowances and tax reliefs discourage tax evasion make sure the tax system is operating fairly Something may trigger a check. However, HMRC has the right to check… Continue reading HMRC Compliance Checks
Accounting for import VAT on your VAT return – Postponed VAT Accounting
Adapting to the new rules for trading with the EU can be daunting but HMRC are taking on feedback and issuing further guidance on those areas tax payers are needing more help with. Accounting for import VAT on your VAT return (also called Postponed VAT Accounting) means you’ll account for and recover import VAT on… Continue reading Accounting for import VAT on your VAT return – Postponed VAT Accounting
SEISS Grant Four – Applications Opening Soon
SEISS Grant Four applications will be opening soon, with those eligible receiving contact from HMRC with the date they can claim, starting from 22nd to 29th April Who can claim To be eligible for the fourth grant you must be a self-employed individual or a member of a partnership. You cannot claim the grant if… Continue reading SEISS Grant Four – Applications Opening Soon
Restart Grants Now Available for Eligible Businesses
Restart Grants were announced by Chancellor Rishi Sunak in his budget last month – a one off cash grant of up to £18,000 for hospitality, accommodation, leisure, personal care and gym businesses in England. The Restart Grant scheme supports businesses in reopening safely as COVID-19 restrictions are lifted. Grants are available from 1 April 2021. Eligible… Continue reading Restart Grants Now Available for Eligible Businesses
Claiming preferential rates of duty between the UK and EU
How to claim preferential rates of duty on goods covered in the UK’s deal with the EU and how to declare goods imported into the UK on your import declaration. From 1 January, if your goods originate in the EU or UK, you may be able to claim a preferential rate of duty when imported into the… Continue reading Claiming preferential rates of duty between the UK and EU
SME Brexit Support Fund Open for Applications
The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover. Traders can apply for up to £2,000 in total through two types of grants: Grant for Training: The grants can be used… Continue reading SME Brexit Support Fund Open for Applications
Registration Deadline 31st March 2021 for Employers to Order Free Employee Coronavirus Tests
Register to order free rapid lateral flow coronavirus tests for your employees You can order free rapid lateral flow tests to test your employees twice a week in the workplace. You must register on or before 31 March 2021. Do not use this service if you or your employees have symptoms. Anyone with symptoms should order… Continue reading Registration Deadline 31st March 2021 for Employers to Order Free Employee Coronavirus Tests
Coronavirus Loan Schemes Application Deadline 31st March 2021
Covid-19 schemes introduced to help businesses access loans and finance during the Coronavirus crisis, are due to close for new applications on 31st March 2021 Coronavirus Bounce Back Loan helps small and medium sized businesses to borrow between £2,000 up to £50,000 or 25% of their turnover. https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan Coronavirus Business Interruption Loan Scheme helps small and… Continue reading Coronavirus Loan Schemes Application Deadline 31st March 2021