In an effort to crack down on undeclared income, HMRC has launched a targeted campaign aimed at persons with significant control (PSC) who may have failed to disclose all their earnings. This initiative serves as a wake-up call for individuals who have not been forthcoming about their income and serves as a reminder of the importance of tax compliance. Understanding the implications of being a...
In an effort to improve transparency and compliance within the business sector, Companies House has implemented stricter rules regarding registered office addresses. Failure to adhere to these regulations can result in fines of up to £1,000. It is crucial for companies to understand the implications of these changes and take the necessary steps to ensure compliance. Understanding the ‘Appropriate Address’ Requirement The newly enacted regulations...
Welcome to our blog post on deciphering the 2024 Spring Budget. As financial experts, we understand the confusion and stress that can arise from trying to make sense of complex tax announcements. That’s why we are here to simplify and demystify the essential tax changes that were announced in the Spring Budget. Our professional and authoritative tone promises to provide clarity and guidance, making tax...
Inheritance tax can be complicated and subject to lots of misunderstanding and mistakes. Furthermore the topic can even be controversial and occasionally even inflammatory. However, as with all forms of tax, it’s vitally important to understand the fundamentals, especially when it applies to you. We have put together a simple, easy-to-understand guide to UK inheritance tax. Inheritance Tax – How Does It Work Inheritance tax...
Payroll / PAYE for start-ups is an essential function within every business. Payroll is the process that matches workers with their wages. If payroll gets off track, things can go very wrong very quickly. So you definitely want to avoid errors within payroll / PAYE for start-ups whenever possible. Payroll / PAYE for Start-Ups Avoiding errors within your business payroll helps you to retain trust...
Small and Medium sized Enterprises (SMEs) are a central part of the UK economy. SMEs play an important role in communities and collectively employ a sizeable workforce. It is essential that SME owners pay as much attention to tax planning as larger corporations. Here we explore SME tax planning. SME Tax Planning Prestige Business Management delivers specialist accounting for small to medium enterprises. Our dedicated...
QuickBooks is the world’s number one online accounting software. If you find accounting difficult to understand, the QuickBooks platform can help you better manage your businesses finances. Here we cover the key features and why we love QuickBooks. How QuickBooks Can help You Run Your Own Business Our top five reasons for choosing QuickBooks: Invoicing clients Online banking & payments Compliance made easy Cash flow...
QuickBooks Online Accountant software can help small businesses succeed. The platform was specifically designed to help increase the efficiency of business leaders by empowering them to deliver greater value, and therein benefits, to their clients. QuickBooks has a range of features and benefits: QuickBooks matches transactions to your sales and expenses QuickBooks can accept Direct Debit payments via GoCardless QuickBooks can accept card payments through...
There are all sorts of practical skills to learn when you start a new business. One crucial capability is how to write a contract. A contract is a legally binding document that protects you and your client, especially if there is a disagreement. A comprehensive contract will usually stop issues arising before they start and ensure that you get paid in full and on time....
VAT is one of the most essential components of business tax to get right. It can pose challenges in terms of accounting. It can also affect your profitability. So getting the best tax advice for your small business is about more than simply maintaining compliance with HMRC, it is a fundamental element of managing all small businesses successfully. Getting the Best VAT Advice for Your...
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