Archive | HMRC

Is your bookkeeping “acting” up?

You didn’t become a musician or an actor or a freelance performer to be able to sit there and do paperwork, did you? Unfortunately, as with all self-employed businesses, paperwork is a key aspect, and accounts and tend to run our lives at certain times of the year. Many of us struggle with the amount […]

Actors: Want to reduce your tax?

Your agent has just called, you’ve got an audition…but it’s the other side of the country and it’ll be expensive to get there, and an early start so maybe you need to book a hotel too! Those expenses are slowly adding up… Sound familiar? Check out this post for all your allowable acting expenses.   […]

5 tips for SMEs to protect cash flow

SMEs suffering from late payments often find themselves facing huge tax bills, forcing them to dip into their cash reserves. Here are 5 tips for SMEs to combat a cash flow crisis: – Streamlining business expenses The world is being transformed by the digital revolution, and so too is the accounting industry. Embracing the digital […]

Start of the year checklist for Business Owners!

As we approach the end of 2018, it’s the perfect time to sit and reflect upon your business finances. Did you struggle or exceed your expectation? What was successful and brought in lots of profit? What didn’t go as well and requires further thought?   Whether you’ve struggled or exceeded your expectations, it’s time to […]

Tax: what you need to know as a working self-employed actor

Life as an actor can be very hectic – rushing to auditions, rehearsals and performances, so 9 times out of 10 the mundane things, such as accounts are put to one side for a rainy day and get overlooked or even forgotten! But each year like all self-employed people, a tax return has to be […]

31st January is nearly upon us! Tax return completed and filed?

No? Don’t panic! Here’s your easy guide to meet That Deadline! The deadline for completing 2016/17 tax returns is now 8 DAYS away and probably approaching far too fast for the over 11 million people who need to file Self-Assessment tax returns each year. I bet many of you didn’t realise that if any return filed […]

I’m going Self Employed. What do I do about HMRC?

Firstly, you need to register with the tax office. This doesn’t need to be done in person; this can be done online. Registration on the HMRC website does take a little time, but ultimately is just a series of form filling pages. Once complete, you are then issued with a password and a UTR (Unique […]

I’m a sole trader; surely, I won’t need to submit 4 tax returns in a year?

Making Tax Digital is HMRC’s idea that both businesses big and small will make fewer errors if they maintain their records more regularly. HMRC are aware many small businesses only write their books up once a year when demanded by their accountants. They also believe that this lack of regular bookkeeping is losing tax for the Treasury […]

The Paper-Free Accountant

The paper-free accountant is now here! Online services have fundamentally changed the landscape of how businesses interact with their accountants. Here’s how to get a paper-free accountant: – Document Management Many documents arrive electronically these days, so businesses are on the way to being paper-free already.A document scanner, a multi-function printer or a smartphone can take […]

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8 Reasons to file your Tax Return early

You’ve probably received a letter from the HMRC requesting for you to complete your 2016-2017 Tax Return. As an indecisive population, many of us will not deal with our self-assessment tax return early – whether they’re personal or whether we’re getting the information to our accountants we will leave it until close to the filing […]

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