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Our News page is updated daily and the news feed is supplied by Sift media who are well respected writers in the industry.  If you are interested in new laws, guidance and reports on anything that is happening in Government that could affect your business, these posts -will be useful. You can also sign up to receive them in your inbox.

What are Depreciation and Capital Allowances?

Depreciation: Is an accounting term for spreading the value of a fixed asset (vehicle or equipment etc.) over its useful life.  Spreading the cost is fairer and more accurate than deducting it all from the Business’s Profit in the year of purchase.  i.e. Depreciation...

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Starting a business checklist – 20 things to consider

When starting a business there are a lot of things to think about and a checklist can be useful. The checklist below is not exhaustive but it does include tasks that are sometimes overlooked by people starting out in business.  It is always worth talking to an...

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What is the 24 month rule for travel expenses?

When an employee or director travels to a temporary place of employment, from their permanent place of employment (usually the home address for Personal Service Companies), then they can claim tax relief on relating travel & subsistence expenses.  However, if/when...

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What to consider when splitting shares between couples

Who genuinely owns, founded, or acquired the business? Who works in it and earns the money?  If the person who formed, and runs it isn’t the majority shareholder, this could mean trouble – because, if the couple fall out, the main worker could lose control of their...

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How to delay being VAT registered

VAT registration and small businesses VAT registration is a problem for small businesses who sell to the general public. When your annual turnover exceeds £90,000, you must register for VAT and pay 1/6th of your gross sales to HMRC. However, there are some ways that...

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What is the Personal Allowance?

Every person who is resident in the UK is given a personal allowance each tax year. It operates as follows: The personal allowance is the amount of income you can receive before paying tax – and it generally increases each tax year. For the 2024/25 tax year, it is...

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What taxes affect landlords?

When starting up as a landlord there are a number of issues and tax implications to bear in mind. Decide on what investment property to buy.  This is obviously the most basic decision and the key decision (aside from whether to buy a property).   Decide how to...

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