Are professional fees tax deductible?
As ever, the answer to this question depends on what type of professional fees have been incurred. Professional fees are income and corporation tax deductible …
Company makes loss – can dividend be paid? Â
Anyone who invests in a company is taking a chance, hoping that the directors, as representatives of the company, will use the money to increase …
Be aware of VAT bad debt relief
Despite the improving economy, bad debts are still a fact of life for many businesses. HMRC is aware that not all invoices are paid on …
Accountancy Services for Small Businesses
Running a small business is a rewarding journey, but it comes with its fair share of challenges—especially when it comes to managing finances. Accountancy services …
Business Tax Return: Top Tips for Filing
Filing your business tax return might seem like a daunting task, but with the right approach and a few insider tips, you can navigate the …
Tax implications of different methods of business finance
For many businesses, initial set-up costs are low with just an internet connection, smartphone and a laptop. Invariably, funding for expansion or to purchase specific …
Claiming tax relief on work clothes
Many employees are required to wear a uniform or particular type of clothing whilst at work. Even where there is no set uniform, many have …
When is a VAT invoice not a VAT invoice?
Although suppliers such as mobile phone providers are VAT registered, a careful look at the invoices issued to customers shows the words ‘this is not …
Encouraging private investment into small and medium-sized companies
For small companies, obtaining tax-efficient funding involves leveraging various schemes and incentives that minimise tax liabilities while maximising capital inflow. These schemes are designed to …
VAT – payback and clawback rules – what happens if there is a change of plan?
VAT applies to taxable supplies made by a VAT-registered person whether an individual or a company. VAT-exempt supplies in the UK are goods and services …
Is it worth filing a formal complaint with HMRC?  Â
HMRC has not been getting good press lately. Time spent waiting for a tax refund, an answer to a letter or for over an hour …
Top Tax Tips for Small Businesses in UK
Introduction Taxation can be a complex and overwhelming aspect of running a small business. However, with the right knowledge and strategies, you can minimise your …
