If you’re an entrepreneur or contractor, running a limited company or register as a sole trader, based in the UK, you need to know about the penalties imposed by Companies House and HMRC and how they could impact your business. By understanding these deadlines, you can plan ahead allowing you to focus on your business. Whether you are a freelancer, subcontractor or micro business owner,...
This is the first Autumn Budget which has taken over from the now defunct Autumn Statement. The Chancellor, Philip Hammond MP, froze the threshold for VAT, introduced reverse charging for construction industry VAT reporting and also introducing new online VAT fraud processes to clamp down on illicit online trading. VAT had made the headlines even before Philip Hammond stood up to present his Budget to...
The Chancellor of the Exchequer, Rt Hon. Philip Hammond M.P., has delivered his first Autumn Budget. This article will outline the key details along with supplementary information relating to impact and issues relating to self-employment, tax and other key priorities. The end of the Autumn Statement was always going to make this more of a curiosity than anything else. The media lead-up revolved around...
What is the Auto Enrolment Pension? In 2012, the last Coalition Government introduced a new form of pension regulation. The new legislation forced every workplace to offer a pension scheme and, crucially, to create a pathway for automatic enrolment for all eligible workers within that organisation. The scheme was launched with large employers in mind back in 2012. However, a change to the legislation has...
A little background Are you a bar manager or owner? Do you find the task of undertaking weekly payroll incredibly difficult and time consuming? Have you considered outsourcing your payroll to a professional accountancy service with bespoke in-house payroll support? Prestige Business Management can help process and manage the payroll and help free up more of your time to focus on running your nightclub, bar...
Regardless of your size or market penetration, you will always be looking to increase your sales and grow your company even more. That being the case, the most delicate characteristic of this endeavour is the process of increasing your sales on a small or slender budget. Getting the right ‘bang for your buck’ is a challenge every company faces and increasing sales whilst getting value...
Your digital tax journey shouldn’t necessarily be linked to the Government’s Making Tax Digital (MTD) initiative. You should embrace the digital future and use the disruptive power of digital to help make your digital journey more intuitive and less legislative. For those unaware, MTD was removed from the Finance Bill just before the last General Election and uncertainty due to the current minority Government means...
A little background “Ministers confirm a new timetable for Making Tax Digital ” … An apt understatement from a Government without direction. The new announcement, on July 13th, 2017, stated that “three million of the smallest businesses and landlords will be able to move to the new digital system for keeping tax records at a pace that is right for them.” The delay is a...
Get the right Accountancy Support to Succeed As a personal trainer, your role is to help your clients maximise their own returns by focusing on their activities. The more they put in, the more they get out. Your goal is change minds and change behaviour. However, tax returns and VAT, pose an altogether more challenging remit. By partnering with Prestige Business Management, we can provide...
Get the right support for your business needs Nearly 90 per cent of all small businesses fail. That is the inconvenient truth of doing business in the UK today. The act of launching a business and investing all that time, love and money will see nine out of ten ventures failing in the process. Prestige Business Management can help turn small start-ups into successful...
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