Post-cessation expenses – When are they allowable and how?
Sometimes a business may have ceased trading but then receives income that has not been included in the final cessation accounts, e.g. an insurance payment …
HMRC’s increased powers for spotting invisible income
HMRC can enquire into any tax return and request information to establish whether that return is correct. No reasons need be given for the enquiry …
Partnerships – The tax implications of the death of a partner
Partnerships are the only business entities that can be formed by oral agreement, created automatically when two or more persons engage in a business with …
Investing in woodlands – Its Tax implications
Drive along a country road and you may come across signs advertising ‘Woodlands for sale’. Such signs invite investing in woodlands, which can come with …
MTD – A time to incorporate? Â
After years of deferral, the long-anticipated Making Tax Digital (MTD) for Income Tax start date has finally been confirmed. This is a significant development that …
Business entertainment – when can you claim?
HMRC’s rules state that expenditure on business entertainment or gifts cannot be claimed as a deduction against profits (and therefore also non-VAT deductible), even if …
Bookkeeping Best Practices for Woolwich Entrepreneurs
As an entrepreneur, maintaining accurate and up-to-date financial records is crucial for the success of your business. Whether you’re just starting out or managing a growing business, effective bookkeeping allows you to stay on top of your finances, avoid costly errors, and comply with HMRC regulations.
Tax on Selling Your Company: Cash vs Loan Notes
There comes a time in every business owner’s life when retirement looms and thoughts turn to succession planning. Planning should ideally start two years before …
How important is it to keep receipts?
When you buy an item in a shop, you will be asked whether you want a receipt. Although a receipt provides useful evidence of purchase, …
Top Accounting Services for Small Businesses in Woolwich
Accounting is the backbone of any successful business. Without proper financial management, it can be difficult to track cash flow, manage taxes, and plan for the future. Here are some of the key reasons why hiring an accountant for small business in Woolwich is essential
Defining temporary workplaces and tax implications
Most employees can identify their permanent place of work because it is where they regularly go to work. However, post-Covid, many workers work primarily from …
Streamline Your Business with Payroll Services in Woolwich
Managing payroll is one of the most time-consuming tasks for any business owner. Ensuring that your employees are paid correctly and on time, while staying compliant with HMRC regulations, can be a complex process.
