Making Tax Digital

Making Tax Digital (MTD) is the government’s initiative to modernise and simplify tax administration for everyone by moving the whole process online. This pioneering venture promises to make tax submissions more effective, more efficient and easier for taxpayers. However, with recent research suggesting that 30% of businesses are unaware of what this means for them we’ve written the following b...

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What expenses can you claim as a business owner?

In today’s business guide we will be looking into what expenses you can claim back as a business owner. This will factor in any size business, and anyone who is self-employed. Claiming back expenses can help with your business’ outgoing costs and it can also help entrepreneurs to give their business more chances of longevity. 

Businesses a...

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Bookkeeper v Accountant, which is right for you?

The decision depends on what size of business you have, your turnover and what you want from the service. Before you decide which one you need for your business let’s look at the different responsibilities for each role.

Bookkeepers are responsible for recording the daily financial transactions of a business such as tracking all income and expenses, payroll, receipts, invoicing, bills and...

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A small business guide to auto-enrollment

When you start your own business there are so many things to remember but one of the most important ones is that as soon as you start employing staff, even if it is just one person, you must place them into a workplace pension if they fit the criteria.

Automatic enrollment came into being under the Pensions Act 2008, whereby all employers in...

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Research and Development Tax Relief - what is it and can I claim?

What is R&D Tax Relief?

Research and Development (R&D) tax relief was introduced by the Government in 2000 and was launched with the purpose of encouraging and rewarding creativity and innovation among Limited companies in the UK.

R&D is one of the biggest tax reliefs available to SMEs and can be worth up to 33% of a company’s R&D expenditure – or 33...

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Seeking funding: Should it be debt or equity?

Many businesses owners every year face the same dilemma when they need to raise capital; should they acquire funding through debt, or through releasing equity in their business. This is especially true for new startups but is also a quandary established businesses must decide upon when looking to grow.

Each option offers pros and cons and it will depend on the business needs and the amoun...

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