HMRC have a flat rate, simplified expenses calculator for working out your use of home as office if you’re self-employed. If you work less than 5 hours a week you cannot claim anything. 5 to 10 hours = £120 per year 10 to 25 hours = £216 per year 25+ hours = £312 per year […]
An electric car is no different from any other car purchase made through a company, therefore you can’t claim the VAT back on the purchase of the car. The exception is if the car is used 100% for business, which would generally mean that you are a car leasing company.
Whitesides Accountant & Tax Advisor Sarah Greenwood answers “Do you Need to do a Tax Return?” It depends. If you’ve just got employment income, for example you’ve got three or four little part-time jobs, you don’t need to do a tax return because all your income is accounted under pay as you earn. HMRC recently […]
Quite regularly we’re asked what is the difference between bookkeeping and accounting? In this blog post, Sarah Greenwood, Whitesides Accountant and Chartered Tax Advisor explains the key differences. Accounting and bookkeeping are terms that are often used interchangeably, but what really is the difference? Bookkeeping is the process of collating and recording all the […]
Whitesides Accountant & Tax Advisor Sarah Greenwood answers “Do I need payroll for my business?” It depends on what you’re doing. Self Employed If you’re a self-employed individual then you probably don’t need to set up a payroll to pay yourself, unless you are employing any staff. Limited Company If you’re a limited company then […]
There are so many online bookkeeping software packages available at the moment it can be difficult to decide which one is best for your business. I have outlined below the 4 main software’s available and the businesses we feel they are most suited to. Xero Xero was developed in New Zealand before being launched in […]
There are hundreds of small business grants and start-up grants available, whether you are eligible for grants will depend on several factors: Your industry Your location The size of your business The age of your business Whether you supply businesses or consumers Whether you have benefited from other grants Granting organisations include universities, local […]
Sean Rushton, Whitesides Accountant looks into how to pay back your student loan whilst being self-employed You pay your student loan via your self-assessment tax return. If you have an accountant doing this for you then they will do all the calculations and they’ll tell you how much you need to pay over. Alternatively, […]
Accounting Apps aren’t just for accountants, they can simplify your life, take the stress out of paperwork and make everything just run more smoothly. In this blog Leo (our bookkeeping manager) considers his top 5 accounting apps for the Construction Industry. Tradify Top of the list comes Tradify. Tradify provides a complete job management solution […]
Joanne Whiteside, explores the benefits of being VAT registered The VAT registration threshold is currently 85,000 pounds, so if your turn over goes over that in the previous 12 months, looking at the 12 months up to the end of the previous month, not what your accounts might say for the previous year, you […]
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