Dec, 2015 | Small business
The job of an accountant is to keep track of numbers that primarily are the result of business activity. Keeping track of day to day transactions such as sales, inventory, discounts, taxes and the like can get very detailed and if not recorded and made into some kind...
Oct, 2015 | Small business, Tax Summaries, Uncategorized
The UK’s tax gap, which is the difference between tax collected by HMRC through self assessment, disclosure schemes and tax investigations and the amount of tax owed has narrowed to 6.4%. This is welcoming news for both the Treasury and the economy as a whole. Much of...
Jun, 2015 | Small business
The decision in Tim Healy v HMRC [2015] TC04425 , published in June 2015 has shown how tax payers should demonstrate that their expenses are solely for the purpose of the trade.The ClaimIn this case, an actor failed in his claim for tax relief for renting a flat...
May, 2015 | Small business
Micro businesses tend to be the fastest to pay their invoices out of all sizes of business in the UK, according to new research.Data from Experian shows that businesses with 2 workers or less paid overdue invoices within an average 20.58 days beyond the contract terms...
Apr, 2015 | Small business
A poll of 600 small businesses has revealed 32% of small business owners find hiring new staff as the most stressful task they have to deal with.Other tasks which affect the stress levels of a business are: 31% stated moving business premises27% stated handling...
Apr, 2015 | Small business
Whilst Auto Enrolment has already been embraced by majority of the companies with more than 50 employees, there are more than 17,000 companies that are on the edge of staging.Survey of small businessA survey undertaken showed 43% of these companies who are on the...
