With continuing inflation in the UK, many of us and our businesses have been put “off track” in the short to medium term so how do you mitigate the long-term effect of inflation? The Bank of England recently increased interest rates by a quarter of a percentage point to 4.25%. This is despite the […]
Author Archives: Priya Raja-Motala
Capital Allowances, capital gains tax, HM Revenue & Customs, P11d, Payroll, Tax Tips
Getting ready for end of tax year
29
Mar
Mar
We are almost in April and that means one thing, end of the current tax year is approaching. So how can you be getting ready for the end of the tax year? There are a few things to consider over the coming week as the last day of the current tax year is 5th April […]
Bookkeeping, Myers Clark Updates
Neglecting quality accounting data can paralyse a business. Here’s how we got our client moving again.
21
Mar
Mar
Herts Mind Network were doing brilliant work providing the community with much needed mental health support. The trouble was they had a long task-list and were struggling to keep on top of their books. Their bookkeeping was sparse and patchy and this made it difficult to account for the grants they received, or assign them […]
20
Mar
Mar
After presenting a Budget-in-all-but name with the Autumn Statement, the Spring Budget was delivered against the backdrop of a day of widespread industrial action. The run-up to the event appeared deliberately downplayed, save for a late flurry of leaks highlighting a focus on childcare at one end of the scale and pensions at the other. […]
15
Mar
Mar
Earlier today (15th March 2023) the Chancellor of the Exchequer Jeremy Hunt delivered his first budget. However, he was presenting his second set piece following the Autumn Statement last year amid big expectations. So, here’s the brief overview of the main parts following today’s announcements and how it can affect your business and your personally […]
08
Mar
Mar
This is a common question when thinking about completing your Tax Return. Can I do it myself or do I really need an Accountant to file a Tax Return. Well, the simple answer is it depends. It depends whether you have the time, whether your time would be better spent elsewhere, and how complex your […]
01
Mar
Mar
For some years now employers have been able to payroll benefits for their employees. The obvious question for you as an employer is should you payroll your employee benefits? What are the advantages and the draw backs of taking such a step? So, what are we talking about here? We are talking about employee […]
22
Feb
Feb
Have you been approached by HM Revenue & Customs (HMRC) asking for the repayment of Child Benefit? You may have received a letter from HMRC (The Child Benefit Office) saying that you’ve been overpaid, and they would like the money back. There’s an appeal process in place if you feel that the facts in […]
HM Revenue & Customs, VAT, VAT Compliance, VAT Return
Why do you need to know the difference between VAT Error and Adjustment?
10
Feb
Feb
The word “adjustment” means alteration in the English Language whilst “error” means a mistake. The difference between the two is important because when it comes to your VAT Returns how you deal with a VAT error is different to how you can deal with a VAT Adjustment. What qualifies as a VAT Adjustment? […]
HM Revenue & Customs, Tax Advice, Tax Planning, Tax Tips
Do you want to transfer the ownership of your investments to your spouse to save tax?
08
Feb
Feb
Have you been thinking that if you could just transfer some of your investment income to your spouse then you will have a lower tax liability? If so, you are not the only one. This is a common question when we prepare client’s tax returns. Having just completed the tax season and nearing the end […]