Category: Accounting

Cash accounting lets you pay VAT only once your invoice is settled. Accrual accounting charges it when the invoice is raised. Only businesses with taxable

Note: We aim to give the best, honest recommendations to people in the creative industries.In this blog post, we take a look at the best

The wrong accountant costs you more than their fees: missed deductions, incorrect VAT treatment and poor tax planning are common problems when your accountant doesn’t

Most limited company owners know you need enough distributable reserves to pay dividends. But how can it happen that your company shows a healthy net

A business can show a healthy profit on paper and still run out of money. Profit is calculated when work is done, while cash only

Your taxable profit is not the same number as your net profit: it’s arrived at by adding back non-allowable expenses and subtracting capital allowances, and

Tax returns can be hard work but sometime, especially in today’s business climate it’s finding the cash to pay the tax that can be the biggest problem.

As a sole trader you must keep records for at least 5 years after your Self Assessment deadline; as a limited company, at least 6

An emergency tax code is applied when HMRC doesn’t have your full income details: it means you’re probably overpaying tax right now, and you can

Your HMRC tax code tells your employer or pension provider how much income tax to deduct from your pay. If the UK tax code is