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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.
Should I hire an employee or a self-employed worker?
If you take on an employee you will have to consider: Employer’s National Insurance, Employers Liability Insurance, Statutory Holidays, Auto Enrolment etc. If you hire a self-employed worker it could be more beneficial because you will have significantly fewer legal...
What repairs can be claimed against rental income?
This is a common difficulty when calculating net rental property income and you should really seek advice. It depends on what the expenses were and when they were incurred. You can claim for maintenance and repairs/renewals. Repairing or replacing should be...
What is The Marriage Allowance?
Many couples are unable to benefit from the Marriage Allowance; AND the maximum benefit is only £252 (2022/23). But it’s simple to calculate and to claim. It is for Married Couples and Civil Partnerships where one is a Basic Rate Taxpayer (taxable income £12,570 -...
How to start a company
There are a number of stages to go through – and I would recommend seeing an accountant as early in the process as possible. It may even be the case that you shouldn’t form a company straight away as many small start-ups are better off starting as sole-traders. But...
How does owning shares in a Company work?
Limited Companies in the UK are generally limited by shares representing the ownership of the Company. So if the Company issued 100 shares and you own 1 – you own 1% of the Company. Shares come with certain rights, the most...
Should we set up our family business as a Partnership?
There are many reasons for not choosing a Partnership in your position, for instance: They are generally less tax efficient than Limited Companies; Partners must pay Class 4 National Insurance; All Partners are jointly responsible for all debts; Partnerships can...
what to do when buying a franchise?
Talk the franchise proposition through with an accountant. If you still think it is a good proposition, decide on the business structure (e.g. Limited Company), bookkeeping records and VAT registration, as with any business. Franchisees often pay a large lump sum for...
When should I cancel my child benefit?
If you are very sure that your taxable income (after personal pension contributions and charitable donations) will exceed £60,000 in the current tax year, then you should probably opt out of the Child Benefit system. If you think there is a chance your taxable income...
Will I pay Capital Gains Tax on my house if I work from home?
This is a question that crops up now and again from clients who perform some of their business activities at home. Generally speaking, if the room used for the business is also sometimes used as part of the home (e.g. as a guest room, or for watching...
What you should consider when charging VAT to an overseas client
Charging VAT or not depends on various things: Are you invoicing for goods or for services? Where is your customer based? UK, EU, outside the EU? Is your customer a business or a consumer? The answers will dictate whether your sale is: Standard rated (i.e. 20% VAT...
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