Business owners that are in dispute with their energy suppliers will be interested in the free support on offer from the Energy Ombudsman.
In a recent press release the Department for Energy Security
Settling energy disputes
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COVID Bounce Back abuse
The Insolvency Service has recently published information confirming that a total of 831 company directors were banned in 2023-24 for Covid support scheme abuse, up more than 80% on the previous year,
VAT retail schemes
VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or small quantity items
HMRC continues to target till fraud
HMRC has, for many years, looked to target businesses that deliberately undertake electronic sales suppression (ESS). ESS happens where a business deliberately manipulates its electronic sales records
Paying VAT on goods from EU to Northern Ireland
There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market.
Accessing the HMRC mobile APP
HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes updated functionality.
The app can be used
Termination payment clearance process
The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax and secondary National Insurance contributions (employer (NICs)) by
Using the starter PAYE checklist
Employers that take on a new employee need to work out which tax code and starter declaration to use in their payroll software. Incorrect tax codes can lead to a new employee paying more tax than is
What do we mean by profit?
When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs.
However, the word
New employment protections
New legislation, including three Government backed cross party Acts, came into force from 6 April 2024.
Pregnant women and new parents will now receive special treatment in a redundancy situation, as
Measures to support household budgets from 1 April
In a recent press release the government confirmed the following policies to support household incomes from 1 April 2024.
The National Living Wage has officially risen from £10.42 an hour to
To register or not to register
In the recent Spring Budget, the VAT registration threshold was raised to £90,000 (previously £85,000) which means that smaller businesses that did not want to register for VAT, now have an additional
Online check how to import or export goods
HMRC has a useful online tool to help UK business owners check how to import or export goods. This online tool can be used by businesses, the self-employed and agents acting on behalf of a
Claim tax relief on pension contributions
You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest
Restarting a dormant or non-trading company
HMRC must be informed when a non-trading or dormant company starts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information.
Small Business - Smart Thinking - because YOUR ACCOUNTS MATTER
