VAT Registration: a small business guide, everything you need to know about registering for VAT. All About VAT Value Added Tax, or VAT as it is more commonly known, is a sales tax charged on the same of most goods and services in the UK. When you make a business sale, you don’t charge your […]
Payment on account is the means by which individuals completing a self-assessment tax return pay their tax. The Payment On Account system does not apply to all individuals, you will only need to make payments if less than 80% of your income has been taxed at source and your liability is more than £1,000. Tax […]
Chancellor Rishi Sunak delivered his first post-COVID today. As expected, the government’s response to the Coronavirus pandemic has driven a lot of the changes in the budget. Some highlights from the budget that affect our clients are as follows: Coronavirus Support Furlough Scheme The furlough scheme is being extended until 30 September 2021, employees will […]
Whilst the majority of office staff spent the last six months working at kitchen tables, dining rooms and bedrooms there has been a boom in the garden office market for those intending to make the switch to home working more permanently. The recent announcement by the government that office workers are likely to be at […]
Announced 22/10/2020 The Chancellor has announced an extension to the government’s job support scheme. Below is an outline of the support available to businesses that are struggling due to the coronavirus pandemic. Grant for Wages From 1 November the Job Support Scheme is being introduced. The Chancellor announced in the Winter Economy Plan that employees […]
Announced 09/10/2020 The Chancellor has announced that the government’s job support scheme will be expanded for businesses that are forced to close due to coronavirus restrictions. Grant for Wages If your business is closed, the government will pay two thirds of employees’ salaries (up to a maximum of £2,100 per month). Under this scheme, the […]
Plan for Employers The furlough scheme will close at the end of October as planned. A replacement to the furlough scheme, the Job Support Scheme will be available from 1 November 2020. The Kickstart Scheme The Kickstart Scheme has now opened and is available to employers, this scheme provides funding to employers to create job […]
If you are a sole trader who is looking to expand your business taking on employees may seem like the next logical step, but is that even possible? As a sole trader, can I employ someone? The short answer is – yes. Whilst as a sole trader you work for yourself, it doesn’t mean you […]
Estimating how much you need to save for your end of year tax bill can be tough, especially if your business has quite a few expenses. If your freelance business provides a service like tutoring or marketing, you may have limited expenses and you will take home a large part of what you turnover. However, […]
Like two thirds of UK businesses, Whitesides Chartered Accountants is a family business, which Joanne founded in Leeds over 30 years ago. In 2015 when a new accountant was needed, she was lucky to find that Sarah, her daughter, fitted the bill perfectly. Now, with the firm about to be passed on to the second […]
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