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Why taking on your own bookkeeping can be a bad idea

Many new business owners start off thinking that they can save money by doing their own bookkeeping and, while this is undoubtedly true in the short term, in the long run there are many things that could go wrong.

The results of (more…)

HMRC issuing incorrect VAT fines

Close to half of VAT-related fines given to businesses are erroneously levied, says accounting giant UHY Hacker Young.

Around 49% of the automatic fines HMRC issued due to (more…)

Five things you need to know about self-assessment

Self-assessment means filling in a tax return each year, providing information about your income for Her Majesty’s Revenue and Customs (HMRC). The following facts may be of help to those who are new to the (more…)

FTSE 100 more open about tax policy

The largest listed firms in Britain are proving to be more transparent when it comes to tax, with close to 50% of companies on the FTSE now disclosing details with regards to how they approach tax, according to a PricewaterhouseCoopers (PwC) report.

In addition to tax policy details, firms are (more…)

MPs dubious over new debt recovery measures for HMRC

Treasury Select Committee MPs have censured the extended powers granted to HMRC.

The committee emphasised the concern expressed by (more…)

HMRC in 2014: how the taxman has hit the headlines

HMRC has featured in some of the top stories during the first few months of 2014, especially in the investment of extra funds by the Government to tackle fraud and tax avoidance. HMRC has also been featured in the news connected to support for small businesses in the UK, increasing a number of allowances and reliefs. Personal allowances have likewise increased during (more…)

Four ways a medical professional can benefit from accountant services

Working in the medical profession rarely leaves any time to deal with other aspects of your life – including dealing with taxes, payroll, VAT and bookkeeping. However, correct taxes have to be paid and employees expect to be paid the correct salary in a timely manner. Falling behind with essential duties can be costly and result in complaints from staff and clients. Outsourcing to (more…)

Gift Aid audits on the rise

HM Revenue and Customs has been conducting more Gift Aid investigations, with the number doubling in the last year and raising a further £6 million in (more…)

Top money saving tips for small businesses

Saving money and reducing expenditure is a priority for small companies, especially when experiencing a struggling economy. With some careful planning, it is possible to cut costs, reduce overheads, and still build your (more…)

FRC to name firms filing inaccurate reports

Businesses may soon have no choice but to admit to any investigations by the FRC’s conduct commission for giving inaccurate information in reports or (more…)