Entries by catfi5h

Why Should Self-Employed Taxi Drivers Use Our Service?

You are considered a self-employed taxi driver if you work for yourself and set your own hours. Even if you use someone else’s vehicle for your job and use the services of a dispatcher, in the eyes of HRMC you are considered an independent contractor. Because of this, you will need to deduct expenses on your self assessment return, to lower your tax bill.

Changes to VAT for CIS contractors

If you’re in the construction trade and are unsure about how these new VAT rules could affect your business, read our handy guide below which outlines what the new domestic reverse charge is and how it will be implemented.

Why Use Your Accountant’s Office As Your Registered Address

Whenever we receive a letter from a business or whenever we visit their website, the company’s registered address will be there for us to see. You don’t have to choose your home address or your office address as your registered address – in fact, there are good arguments on why you should select your accountant’s address as your company’s registered address.

VAT Cash Accounting Versus Standard VAT Accounting

For the vast majority of goods and services we buy for ourselves or for our businesses, one-sixth of the value of each of our purchases will be for Value Added Tax. In this article, An Accounting Gem describes what VAT is and when you need to register for it the different VAT schemes you can […]

Small Businesses Owners Join the Challenger Banks Revolution

In an age where the internet dominates our entire society, is it any wonder that customers are turning to convenient and ‘in your pocket’ solutions for their banking.  Money management is an essential part of being a grown up.  Anything that makes it easier and quicker to process payments and keep a track on spending […]

Helping Charities and Sports Clubs – Are there Tax Implications?

Philanthropy in business is always a good thing with many small and medium enterprises viewing charity donations and sponsorship as a way of giving back to the people and the areas in which they are based. There are always benefits for the small business owner. For example, helping out charities and sports clubs helps to […]

Tax planning for the self employed

  If you have recently started working as a self employed person, one of the most intimidating things you have to deal with is paying your own tax. Whilst as an employed person this is all dealt with by your employer, and comes straight out of your pay without you having to do anything, as […]

Benefits of taking on an apprentice

An apprenticeship is where you as a business owner will take on one or more trainees to work under you in paid training, combining studying at an educational institution with learning on the job to train them up to a more skilled level. If you are taking on an apprentice, the assumed goal is that […]

CIS scheme explained

What is the CIS? The Construction Industry Scheme (CIS) was brought in by HMRC in 1971 to help minimise evasion in the construction industry, as well as to protect construction workers from being employed illegally and taken advantage of. The scheme works by contractors taking money from their subcontractor’s wages in order to cover their […]