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We Do Bookkeeping for Personal Trainers in Croydon

Bookkeeping for Personal Trainers Learning about keeping fit and healthy is knowledge best gained when you start with yourself. The perseverance one shows to keep off fatty foods and go for training every day takes some endurance and a very disciplined lifestyle, but it all pays off when you see yourself in the mirror getting …

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Expert Taxi Driver Accountants in Croydon

From the outside, the job of a taxi driver seems simple enough, which requires picking up passengers from taxi stations and dropping them off to their desired locations. However, it is far from it, and for being a taxi driver you need many skills to be good at your job and in this article we …

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Arab Accountants in Bromley to Help You with Your Accountancy Needs

Arab Accountants in Bromley to Help You with Your Accountancy Needs London is an incredibly diverse city, and the people who reside in this great city come from different parts of the world, and with them, they bring a multicultural feel to London. We at Accotax understand this phenomenon and to cater to our clients …

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How to claim self-employment support

The Chancellor, Rishi Sunak, announced a new scheme at the end of March to support self-employed people impacted by coronavirus. It’s about to launch ahead of schedule and we’re writing to you because you might be eligible to make a claim under the scheme. The Self-Employment Income Support Scheme provides a taxable grant of 80% …

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Work from Home Expenses

Computing business expenses has always been a hazy prospect, especially if you’re working from home or are self-employed—the concept of work and home has already been blurred, after all.  You’re very much entitled to receive certain amounts of expenses, but what are you specifically entitled to?   Some expenses are clear-cut, but you may be …

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Government launches new small business micro-loan scheme

28 April 2020: the chancellor has announced a new Bounce Back loan scheme, allowing small businesses hit by the impact of coronavirus measures to apply for up £50,000, with the government guaranteeing 100% of the advance. Billed by chancellor Rishi Sunak as a “simple, quick, easy solution for those in need of smaller loans,” businesses …

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4 Ways to keep your business running

The coronavirus disease (COVID-19) outbreak is putting local and international businesses at financial risk. In a bid to decrease the risk of transmission of the disease, this health crisis forced stores and companies to work remotely and use digital platforms to serve their customers continuously, even while observing physical distancing.   While remotely working can …

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Bookkeeping Mistakes UK Business Owners Should Avoid – What to Know

In today’s ever-competitive UK business landscape, one of the most important keys to success that any London-based business needs to thrive is a solid bookkeeping foundation.   From the moment you open up your business, there’s no denying that essential practice of bookkeeping will play a significant role in every part of running your business. …

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Paying Tax & National Insurance_ Our Guide for Self-Employed Professionals

As a self-employed professional, one of the most important tasks and responsibilities that you’ll have to fulfil is paying for your own tax and National Insurance on your income. Aside from making sure that clients roll in constantly and all your assets and liabilities are managed properly, handling your tax and National Insurance is essential …

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Why Outsourced Accountants are the Solution to Conquering Tax Returns – What to Know

Regardless of whether you enjoy organizing your finances or wish income statements could disappear altogether, there’s no denying that tax returns are a vital part of your business’s financial feasibility and success. They may be regarded as the dread of most British business owners, but tax returns have proven themselves to be one of the …

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Tax Saving on Dividends

Timing dividends right could help save tax Timing the date of a dividend payment from a company can determine both the amount and the due date of the tax payable. This may be a particularly useful strategy in a close- or family-owned company. The dividend allowance, which was originally introduced from 6 April 2016, was …

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UK Business Bank Account for Non Residents

Having a UK Limited company for Non UK resident Individual is very easy. As a specialist accountant for Non-Resident Individual, We can help you to set up a UK Limited company within hours as long as you provide us the required documents on time. The next main hurdle is ‘’Opening a UK business Bank account’’. …

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Tax-Free Benefits

Optimising tax-free benefits in family companies Making use of statutory exemptions for certain benefits-in-kind offers an opportunity to extract funds from a family company without triggering a tax charge. The essential point to note is that to make the tax saving, the benefit itself, rather than the funds with which to buy the benefit, must …

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5 common mistakes when calculating business profits

Avoiding common errors when computing business profits HMRC produce a range of Toolkits for agents, which highlight errors commonly made in returns so that agents can take steps to avoid them. The business profits toolkit provides guidance on errors that are found in relation to business profits for small and medium-sized businesses. They are helpful …

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How to apply for tax-free childcare

Government childcare scheme – tax-free top-up Working parents can receive a tax-free top up from the Government to help with their childcare costs. The top up is worth £500 every three months (£2,000 a year). A higher top-up of £4,000 a year (£1,000 every three months) is available where the child is disabled. To receive …

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Tax Saving Tips at the year End

Before you know it, the time for year-end tax will be right around the corner. It can get stressful to try and get everything in order, but there is good news for you! You don’t have to lose your mind trying to end on a high! Head to your accountant right away and talk about …

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Small Business Tips

If you own a small-scale business, it can be rather overwhelming to manage your finances and oversee your company’s financial health. That’s why a system that will streamline bookkeeping and ensure proper accounting should be put in place. There are no hard and fast rules when it comes to doing accounting, but there are a …

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Landlord Tax Return Errors

Using the property rental toolkit to avoid common errors in returns HMRC’s property rental toolkit highlights errors commonly found in tax returns in relation to property income. The toolkit can be used to help avoid those errors, some of which are discussed briefly below. Computation For unincorporated property businesses, the default basis is the cash …

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