Business and accounting
tips for future thinkers

Business and accounting tips for future thinkers

Categories

Do you have a non-taxable Trust?
HM Revenue & Customs
,
Myers Clark Updates
,
Tax Tips

Do you have a non-taxable Trust?

August 10, 2022

Priya Raja-Motala

A Trust that is created by settlors often referred to as Expressed Trusts normally require registering with the Trust Registration Service (TRS). But do you have a non-taxable Trust that did not previously require to be registered? TRS which was introduced in 2017 was initially set up to register beneficial ownership of those Trusts which […]

Why you need a Government Gateway Account
Business Tips
,
Corporation Tax
,
HM Revenue & Customs
,
Personal Tax
,
VAT

Why you need a Government Gateway Account

August 3, 2022

Priya Raja-Motala

What is a government gateway? Why do you need a government gateway account anyway? The gateway is a central location via which you can access various services including your tax account. How many of you have tried to contact HM Revenue & Customs (HMRC) recently over the phone only to get frustrated with the holding […]

Business expense if you don’t charge a market rent?
Accounting Tips
,
Business Tips
,
Personal Tax
,
Tax Advice

Business expense if you don’t charge a market rent?

July 27, 2022

Priya Raja-Motala

Are you a landlord? Have you let out your property at an undervalue? If so, what business expense can you claim if you don’t charge a market rent? As a landlord and a tax payer you want to maximise tax savings and claim all the possible expenses against your rents.   Why would you not […]

How do you get payroll right for your small business?
P11d
,
Payroll
,
Tax Advice
,
Tax Tips

How do you get payroll right for your small business?

July 20, 2022

Priya Raja-Motala

Are you a business that operates your own payroll? Do you want to be involved with paying your staff or is it because you do not want to incur payroll fees? How do you get payroll right for your small business? Do you rely entirely on the software? Or the HMRC Basics Tools?  Do you […]

What these turbulent times in politics could mean for your business
Business Tips

What these turbulent times in politics could mean for your business

July 13, 2022

Priya Raja-Motala

It’s been a very long week at least on the domestic political scene.  It seems longer than just a week ago when we saw the resignation of Sajid Javid followed very quickly by the then Chancellor Rishi Sunak causing a chain reaction eventually leading to the Prime Minister’s (PM’s) resignation. So here we are a […]

travel expense
Business Tips
,
HM Revenue & Customs
,
Tax Tips

Travelling expense when you are working from home

July 6, 2022

Priya Raja-Motala

The pandemic has changed a few things but one of the key changes has been that more of us are now working from home. The question that is now being asked is what can you claim for business travel? Travelling expenses when you are working from home is something most employees seek to claim back […]

I don’t have any time
Business Tips

I don’t have any time

June 22, 2022

Priya Raja-Motala

Have you ever noticed how everybody is always busy? “I don’t have any time” seems to be an overused phrase in many normal conversations whether that be business or personal But if we are really honest, it is not the time that is an issue, it is a question of priorities. In fact, it is […]

How do you understand your PAYE code?
Employee Benefits
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Payroll
,
Personal Tax
,
Tax Tips

How do you understand your PAYE code?

June 15, 2022

Priya Raja-Motala

Everyone who is on a payroll or receives a private pension will have a tax code from HM Revenue & Customs (HMRC).  This code also referred to as PAYE code tells your employer or pension provider what tax to deduct. But how do you understand your PAYE code? Do you fully understand what is and […]

repairs for rental property
Business Tips
,
Personal Tax
,
Tax Tips

What expenses can you claim against your rental income?

June 8, 2022

Priya Raja-Motala

If you have any business, you want to make sure that you maximise your tax position. The same applies to when you are a landlord, so what expenses can you claim against your rental income? We refer to these as allowable expenses so in other words your business costs that can be deducted from profits. […]

How do you get a repayment from HMRC?
Personal Tax
,
Tax Advice
,
Tax Tips

How do you get a repayment from HMRC?

June 1, 2022

Priya Raja-Motala

How do you get a repayment from HMRC?   When you have overpaid tax, you obviously want it repaid. But how do you get a repayment from HMRC? How will you know if you are entitled to a refund of tax? And once you know is it necessary to complete a Self-Assessment Tax Return?   […]

Small Business Strategy
Business Tips
,
Cloud Accounting
,
Digital Technology

Small Business Strategy

May 25, 2022

Priya Raja-Motala

A recent survey by the Federation of Small Business (FSB) states that almost 50% of their businesses will face stagnation in growth due rising costs of operation.  As a business you need to review your risks and your small business strategy. Against the background of soaring inflation, the war in Ukraine, global supply chain problems, […]

Letting out your property as a holiday let?
Business Tips
,
HM Revenue & Customs
,
Personal Tax
,
Tax Advice
,
Tax Planning

Letting out your property as a holiday let?

May 18, 2022

Priya Raja-Motala

The pandemic is said to bring a few behavioural changes.  Working from home including “blended working” is one such example and letting out your property as a holiday let may be another one. During the later part of 2021 many councils in the tourist areas of the country were experiencing significant rises is housing waiting […]

Is it a repair or improvement ?
Capital Allowances
,
Personal Tax
,
Tax Advice
,
Tax Tips

Is it a repair or improvement ?

May 11, 2022

Priya Raja-Motala

The most common question we deal with when preparing accounts for landlords is “is it a repair or improvement”?   It can often be difficult to distinguish between repairs and improvements. However, it’s extremely important to report them correctly for tax purposes. Repairs are often referred to as revenue expenditure and improvements as capital expenditure. […]

Capital or Revenue Expenditure
Accounting Tips
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Cloud Accounting
,
Tax Tips

Capital or Revenue Expenditure

May 4, 2022

Priya Raja-Motala

Knowing whether business expenditure is capital or revenue is essential to the preparation of correct accounts and tax returns, but it is sometimes difficult to decide what is the right treatment. HM Revenue and Customs (HMRC) has recently updated its guidance on the most common errors. First the basics: revenue expenditure is deductible in computing […]

The Ups and Downs of Tax
Accounting Tips
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Capital Allowances
,
Tax Tips
,
VAT

The Ups and Downs of Tax

April 27, 2022

Priya Raja-Motala

We are now in the new tax year 2022-2023 which started on 6th April 2022.  Did you know the chosen year end of 5th April was first introduced in 1752? Back then the new tax year started on 25th March and ended after full 365 days which would be on 4th April. But in 1800 […]

Myers Clark Community Action Group
blog page
,
News

Myers Clark Community Action Group

April 20, 2022

Priya Raja-Motala

We have just had Easter which is traditionally a time for renewal and rebirth.  Spring is truly here, and the dark days of Winter are behind us. Yet we all know this year life is harder for many. According to the Joseph Rowntree Foundation more than one in five of the UK population now lives […]

How can I avoid insolvency
Business Tips
,
Cash Flow
,
Myers Clark Updates

How can I avoid insolvency

April 13, 2022

Priya Raja-Motala

The UK is one of the best places to do business in the world.  Yet the current economic conditions of high inflation and problems with resources has meant there is a chance you may be thinking of your business right now and asking the question “how can I avoid insolvency?” You are probably involved in […]

Divorce and Tax
Personal Tax
,
Tax Advice
,
Tax Planning
,
Tax Tips

Divorce and Tax

April 6, 2022

Priya Raja-Motala

Whilst tax is unlikely to be at the top of your list of important issues if you decide to separate, the potential benefits which could arise from prudent tax planning can ensure that both parties do not have unexpected and unwanted tax charges. This is particularly relevant for Capital Gains Tax (“CGT”), which, in reality, […]

How to stay positive in uncertain times in the workplace
Business Tips
,
Employee Benefits
,
Myers Clark Team

How to stay positive in uncertain times in the workplace

March 16, 2022

Priya Raja-Motala

This is the big question of the day. How to stay positive in these uncertain times especially when it comes to the workplace. Not only have we had a global pandemic for two years, but we also have political upheavals around the globe, an all-out war on European soil and new stories everyday about rising […]

VAT Registered but not yet filing under MTD?
HM Revenue & Customs
,
VAT
,
VAT Compliance
,
VAT Return

VAT Registered but not yet filing under MTD?

March 9, 2022

Priya Raja-Motala

It’s not long to go before 1st April 2022.  What is the relevance of this date you ask? This is the date MTD comes into play if you are a VAT Registered business but not yet filing under MTD.   What is MTD? Making Tax Digital (MTD) is HM Revenue & Customs plan to digitise […]

pensions, salary
Employee Benefits
,
Myers Clark Updates
,
National Insurance
,
Payroll
,
Tax Advice
,
Tax Planning

Is Salary Sacrifice a good idea?

March 2, 2022

Priya Raja-Motala

You may have heard the term “salary sacrifice” on occasions and wondered what it is. Have you ever wondered if you should participate in the scheme either as an employee or an employer?  Basically, is salary sacrifice a good idea?   What is Salary Sacrifice? Salary sacrifice schemes are not a new thing and have […]

Capital Gains Tax Deferral Relief – Enterprise Investment Scheme (“EIS”) Investments
capital gains tax
,
HM Revenue & Customs
,
Tax Advice
,
Tax Planning
,
Tax Tips

Capital Gains Tax Deferral Relief – Enterprise Investment Scheme (“EIS”) Investments

February 23, 2022

Priya Raja-Motala

Are you thinking of selling an asset? Or have you recently sold or gifted an asset that gave rise to a Capital Gains Tax (CGT) liability? If so, there is an often underutilised relief that could improve your cash position; Capital Gains Tax Deferral Relief.   If you pay income tax at the higher or […]

business operations
Brexit
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Business Tips
,
Cash Flow
,
Employee Benefits
,
Funding

How is your business going in 2022?

February 11, 2022

Priya Raja-Motala

Businesses have a lot on their plate now! You have had a lot on your plate for the last two years. But our world is changing rapidly or so it feels. So how is your business going in 2022? This year has brought different challenges. There is the threat of the “great resignation” where workers […]

Why is time management skills important for your work?
blog page
,
Business Tips
,
Myers Clark Updates

Why is time management skills important for your work?

February 9, 2022

Priya Raja-Motala

Why does it matter you have a time management system for work? The UK is often labelled as a “low productivity” economy amongst the G7 economies.  Compared to France we rank much lower.  So, what do our peers do across the channel that we don’t. According to the Guardian newspaper the French have a wonderful […]

What is it like working as an ACA trainee at Myers Clark?
blog page
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Employee Benefits
,
Myers Clark Team
,
Myers Clark Updates

What is it like working as an ACA trainee at Myers Clark?

February 7, 2022

Priya Raja-Motala

You’re here because you’re looking for the right place to undertake your ACA training and become a qualified Chartered Accountant.   We know how important it is to learn the ropes in an environment where you feel valued and on a structured path to achievement.   We wanted to give you a picture of what […]

End of year Tax Planning
Tax Advice
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Tax Planning
,
Tax Tips

End of year Tax Planning

February 2, 2022

Priya Raja-Motala

Why will be it be necessary to do some tax planning moving forward. You may have seen in the press last week, there is not going be a “U” turn with the introduction of the new health social care levy. The UK government borrowed another £16.8 billion in December 2021 and the Covid 19 pandemic […]

building a garden office
Business Tips
,
Capital Allowances
,
capital gains tax
,
Employee Benefits
,
VAT

Tax breaks for your garden office

January 26, 2022

Priya Raja-Motala

Most restrictions in England will end tomorrow as Plan B comes to an end! Which side of the divide do you belong to?  Is it time to get back to “normal” and for everyone to go back to the office? Or is it too early and we should all carry on working from home until […]

How not to lose your staff to your competitors?
Business Tips
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Employee Benefits
,
Myers Clark Updates
,
Payroll

How not to lose your staff to your competitors?

January 19, 2022

Priya Raja-Motala

It seems that every week in the news we are hearing about staff shortages in the UK and when we speak to you about this many of you are confirming the same. So, how do you retain your staff. According to the BBC the shortage has been aggravated by the fact that 400,000 people have […]

Trading with the EU - Changes you need to know from January 2022
Brexit
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Exporting
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Importing
,
VAT

Trading with the EU – Changes you need to know from January 2022

January 12, 2022

Priya Raja-Motala

Full customs controls started on 1 January 2022 – are you compliant? Changes to customs controls came into force from 1 January 2022. HMRC has now written to traders highlighting how that might affect the way goods are imported and exported between Great Britain and the EU. From 1st January 2022 a number of things […]

January, best use of time in the New Year
Brexit
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Business Tips
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HM Revenue & Customs
,
Personal Tax

What is the best use of your time in January?

January 7, 2022

Priya Raja-Motala

We wish you a happy new year and let’s hope 2022 is more stable and that by the end of the year we can return to some kind of “normality”. What is the best use of your time in January? We encourage all clients to consider taking time to prepare a 2022 Strategic plan. “A […]

working from home
blog page
,
Business Tips
,
HM Revenue & Customs
,
Myers Clark Updates

We are now at Plan B so what is your plan?

December 15, 2021

Priya Raja-Motala

We are now into week one of Plan B even if at the time of writing this blog our MP’s are still debating measures amid Tory backlash. It seems that vaccines are still our best line of defence and so until the majority of adults have received their booster jab it would be reasonable to […]

Do I really need to be doing social media?
blog page
,
Business Tips

Do I really need to be doing social media?

December 8, 2021

Priya Raja-Motala

Social media has changed our lives globally, resulting in an inevitable knock on effect to how we do business. No matter what business you’re in, your audience is doing their research and making purchasing decisions online all the time.   As trusted advisers to our clients, we talk about all things related to business improvement. […]

cloud software, digital accounting
Personal Tax
,
Tax Planning
,
Tax Tips

Why you should file your Tax Return before the deadline

December 1, 2021

Priya Raja-Motala

Every year, as certain as Christmas, we have the self-assessment tax filing deadline. This deadline is always on 31st January.  And every year just like getting organised with your presents and Christmas cards in time for the big day, we also need to get organised with gathering the information, preparing the tax return, and submitting […]

Christmas gifting and parties - What are the tax implications?
Employee Benefits
,
HM Revenue & Customs
,
P11d
,
Tax Tips

Christmas gifting and parties – What are the tax implications?

November 26, 2021

Priya Raja-Motala

Entertainment Expenses – what is tax deductible? It is common at this time of the year to see a lot more gifting and partying.  It is after all the festive season. The costs of parties and gifts can be a tax allowable expense and any VAT can be claimed back if it relates to employees. […]

employee benefits, benefit in kind, employees
Employee Benefits
,
P11d
,
Payroll
,
Tax Advice

What are the best benefits to offer employees

November 23, 2021

Priya Raja-Motala

For a few months now, we have known there is an acute shortage of talented people in the general workforce in the United Kingdom. Some industries such as hospitality are having more of an acute shortage due to other factors such as Brexit, but staff shortage is spreading across all industries and in all parts […]

cloud software, digital accounting
Accounting Tips
,
Business Tips
,
Cloud Accounting
,
Digital Technology

Desktop Vs Cloud Accounting – what’s the best accounting software for my business?

November 17, 2021

Priya Raja-Motala

Even the most experienced decision makers rely on accurate data to help them make sound decisions. As a forward-thinking business owner, you deserve a forward thinking accounting software to provide you with the financial data you need to drive decisions.    As you grow your business even the more simple tasks, like keeping records of […]

Our Highlights from 2021 Autumn Budget
capital gains tax
,
Myers Clark Updates
,
News

Our Highlights from 2021 Autumn Budget

November 9, 2021

Priya Raja-Motala

A lot of financial pundits including us were expecting last week’s budget to be a heavy hitter when it came to raising taxes. However, in the end this was not the case. The Office of Budget Responsibility’s recent announcements of a rebounding economy has given Rishi Sunak the confidence to delay tax rises.  But there […]

buying electric car
Business Tips
,
Digital Technology
,
P11d
,
Personal Tax

Buying Electric Car

November 2, 2021

Priya Raja-Motala

I’m thinking about buying an electric car. What financial incentives are available to me? The company car is getting its moment again as an exciting tax perk. In a climate conscious age, where Tesla has become a household name, business owners are being encouraged to take to the road in an electric company car.  Choosing […]

How can your business be more sustainable?
Business Tips
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Cloud Accounting
,
Digital Technology

How can your business be more sustainable?

October 26, 2021

Priya Raja-Motala

In case you haven’t heard the UK is hosting COP26, the 26th United Nations climate change conference next week in Glasgow. Somehow although we are hearing about this huge event almost daily, for most of us it will still feel as if it is something that is happening out there with the politicians. But should […]

Travel Expenses - what you need to know
Accounting Tips
,
Employee Benefits
,
P11d
,
Payroll

Travel Expenses – what you need to know

October 18, 2021

Priya Raja-Motala

Today we heard the news that passengers returning to the UK will no longer have to take the more expensive PCR test, will that mean more travel for businesses in the coming months or has Covid changed this forever? It is too early to say but we are seeing a gradual return to business travel […]

Making Tax Digital (MTD) Delayed
Cloud Accounting
,
Digital Technology
,
HM Revenue & Customs

Making Tax Digital (MTD) Delayed

October 4, 2021

Priya Raja-Motala

Making Tax Digital (MTD) Delayed As we said last week uncertainty and change are in the air! So, this week we have more changes to announce.  MTD for self-employed, partnerships and landlords has now been delayed. The change that was originally set to become law in April 2023 has now been pushed back due to […]

The new penalty regime from HM Revenue & Customs
Cloud Accounting
,
Tax Tips
,
VAT Compliance

The new penalty regime from HM Revenue & Customs

October 1, 2021

Priya Raja-Motala

The new penalty regime from HM Revenue & Customs (HMRC) The UK tax system is moving towards a more digital system with the introduction of Making Tax Digital (MTD) and as part of it HMRC are introducing new penalty measures.  If you are not familiar with MTD then please visit our previous blogs What is […]

When do I need to report for Capital Gains?
Personal Tax
,
Tax Advice
,
Tax Tips

When do I need to report for Capital Gains?

September 28, 2021

Priya Raja-Motala

Do you ever get the impression that in the effort to simplify processes, the government complicates it even more?  One recent example is the “simplification” of the Capital Gains Tax (CGT) regime when it comes to reporting. Whilst trying to simplify the process and removing the need to register for the Self-Assessment tax regime, more […]

What happens after end of furlough – are you prepared?
Business Tips
,
Cash Flow
,
Payroll

What happens after end of furlough – are you prepared?

September 27, 2021

Priya Raja-Motala

Uncertainty is yet again in the air! Many businesses are likely to face different challenges over the coming months. This could be due to the rising costs of energy, difficulty in supply chains, rising inflation and wages and of course the end of the furlough scheme next week. We have known about the end of […]

social care
HM Revenue & Customs
,
National Insurance
,
News
,
Payroll
,
Personal Tax

Introduction of the new Health & Social Care Levy and how it works

September 22, 2021

Priya Raja-Motala

Last week saw the introduction of the new health and social care Levy.  Whilst this came as a surprise to many it was not all that unexpected.  The UK with its aging population has over many years debated on how to deal with the rising cost of social care. It took the pandemic (and the […]

6 things to look for in your next accountant
Business Tips

6 things to look for in your next accountant

September 10, 2021

myersclark

Hiring an accountant is an important step in your business journey. Finding the right one means you won’t just be guaranteed a stress free time when it comes to your compliance but you’ll also be unlocking a whole new world of potential for you and your business. But not all accountants are created equal. Here […]

cloud software, digital accounting
Business Tips

How to get remote working right for your business

September 3, 2021

myersclark

The coronavirus pandemic forced all of us to adapt to a new way of living, but many of us also had to adapt to a new way of working. Though the percentage of remote workers has been steadily growing for over a decade, the past 18 months saw a massive increase, with over 19.5 million […]

HM Revenue & Customs powers are extended
HM Revenue & Customs
,
News

HM Revenue & Customs powers are extended

August 26, 2021

myersclark

Under new rules introduced by the Finance Act 2021, HM Revenue & Customs (HMRC) have acquired some extra powers when it comes to collection of tax and information gathering. Will HMRC contact my bank directly? A new “financial institution notice” was created to speed up the process of getting information to tackle tax evasion.  HMRC […]

The story behind the Myers Clark rebrand
Myers Clark Updates

The story behind the Myers Clark rebrand

August 9, 2021

myersclark

At Myers Clark, we’re serious about your ambitions (but we’re not serious people).  This statement is front and centre on our new home page, and one of the fundamental reasons for our rebrand. Over the past nine months, we’ve been working to create a visual identity that matches who we are as a business and […]

The easiest way to ensure you are on top of your cash incomings and outgoings is to look at your cash flow forecast a few times a week.
Business Tips
,
Cash Flow

How to resolve your cash flow problems

June 11, 2021

myersclark

The easiest way to ensure you are on top of your cash incomings and outgoings is to look at your cash flow forecast a few times a week.

The PSA mechanism allows you to make one annual payment to HMRC which will cover the tax and all national insurance due on the expense or benefit.
Business Tips
,
P11d
,
Personal Tax
,
Tax Advice

What is a PAYE Settlement Agreement (PSA)?

June 1, 2021

myersclark

The PSA mechanism allows you to make one annual payment to HMRC which will cover the tax and all national insurance due on the expense or benefit.

From 1st January 2021 the way we complete the VAT Return in the UK changed. The most important change was how we account for VAT when it comes to Great Britain (GB) trading with the European Union (EU).
Brexit
,
Exporting
,
HM Revenue & Customs
,
Importing
,
VAT

Accounting for VAT after Brexit

May 18, 2021

myersclark

From 1st January 2021 the way we complete the VAT Return in the UK changed. The most important change was how we account for VAT when it comes to Great Britain (GB) trading with the European Union (EU).

The answer normally is what on earth is a form P11d? This is a form which is used to report to HM Revenue & Customs (HMRC)
P11d
,
Personal Tax

Are you completing a form P11D for this expense?

May 10, 2021

myersclark

The answer normally is what on earth is a form P11d? This is a form which is used to report to HM Revenue & Customs (HMRC)

The requirement to keep digital links if you are already caught under Making Tax Digital (MTD) rules came into force from 1st April 2021 as part of the second phase. HMRC defines a digital link as transfer of data between software programmes or applications.
Bookkeeping
,
Cloud Accounting
,
Digital Technology
,
Quick Books
,
VAT

What is a Digital Link

May 6, 2021

myersclark

The requirement to keep digital links if you are already caught under Making Tax Digital (MTD) rules came into force from 1st April 2021 as part of the second phase. HMRC defines a digital link as transfer of data between software programmes or applications.

You many find familiarity in this or know of someone at home or at work who is having a difficult time at the moment.
Business Tips
,
Employee Benefits
,
Payroll

How can you harness wellbeing for you and your team?

April 20, 2021

myersclark

You many find familiarity in this or know of someone at home or at work who is having a difficult time at the moment.

The government has committed to investing £22 billion in R&D by 2025 and this was again confirmed in the 2021 budget. The UK is recognised as a world leader when it comes to research and innovations
Business Tips
,
Capital Allowances
,
Tax Advice
,
Tax Tips

Research & Development (R&D) – Tax Breaks

April 16, 2021

myersclark

The government has committed to investing £22 billion in R&D by 2025 and this was again confirmed in the 2021 budget. The UK is recognised as a world leader when it comes to research and innovations

If you have been working as a contractor in recent years, you will know there are big changes to the Off Payroll Working rules coming into effect next month.
Business Tips
,
CIS
,
Tax Planning

Is contracting dead in the water ? The new IR35 rules

March 26, 2021

myersclark

If you have been working as a contractor in recent years, you will know there are big changes to the Off Payroll Working rules coming into effect next month.

The pandemic has hit the smallest businesses the hardest and one third of businesses recently surveyed by the British Business Bank expect reduced businesses activities as we restart.
Business Tips
,
Cash Flow
,
Funding
,
Myers Clark Updates

What should you be doing now – is more debt the answer?

March 15, 2021

myersclark

The pandemic has hit the smallest businesses the hardest and one third of businesses recently surveyed by the British Business Bank expect reduced businesses activities as we restart.

HMRC will require businesses (including landlords) to keep digital records of all their business income and expenses and report on a quarterly basis using functional compatible software.
Accounting Tips
,
Cloud Accounting
,
Digital Technology

What is Digital Record Keeping

March 4, 2021

myersclark

HMRC will require businesses (including landlords) to keep digital records of all their business income and expenses and report on a quarterly basis using functional compatible software.

Digital transformation simply put is the process of using digital technology to modify current business process to bring better performance
Business Tips
,
Cloud Accounting
,
Digital Technology
,
Uncategorized

Now is a good time to start your digital transformation.

February 22, 2021

myersclark

Digital transformation simply put is the process of using digital technology to modify current business process to bring better performance

HMRC have announced a VAT domestic reverse charge will need to be applied on supplies to building and construction companies of services that are within the scope of the Construction Industry Scheme (CIS).
CIS
,
VAT

INTRODUCTION OF A VAT DOMESTIC REVERSE CHARGE

February 8, 2021

myersclark

HMRC have announced a VAT domestic reverse charge will need to be applied on supplies to building and construction companies of services that are within the scope of the Construction Industry Scheme (CIS).

If you own a business, or you are self-employed and you pay income tax, national insurance, VAT or corporation tax, then it is quite likely you will be affected.
Cloud Accounting
,
Digital Technology
,
Quick Books
,
VAT

What is Making Tax Digital and how does it affect me

February 8, 2021

myersclark

If you own a business, or you are self-employed and you pay income tax, national insurance, VAT or corporation tax, then it is quite likely you will be affected.

We accept that this year is a bit different. Many of you have been under immense pressure at work for the last ten months and completing your tax returns has not been your top priority.
Personal Tax
,
Tax Advice

Should you delay filing your Tax Return due to Covid?

January 18, 2021

myersclark

We accept that this year is a bit different. Many of you have been under immense pressure at work for the last ten months and completing your tax returns has not been your top priority.

Here we remind you that you can say thank-you to your team without adding the burden of tax either to yourselves or your staff.
Employee Benefits
,
National Insurance
,
P11d
,
Payroll

Say Thank you for your team in a tax efficient way

December 14, 2020

myersclark

Here we remind you that you can say thank-you to your team without adding the burden of tax either to yourselves or your staff.

To run a business during this time is difficult but there are some simple steps that you can take which may offer some protection.
Business Tips
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Cash Flow
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Myers Clark Updates

7 steps to take now to help your business

December 7, 2020

myersclark

To run a business during this time is difficult but there are some simple steps that you can take which may offer some protection.

This however was not a Budget and therefore as expected no announcements on the future tax strategy. There is an acceptance overall from the pundits that tax will have to increase.
HM Revenue & Customs
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Myers Clark Updates
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News

Following on from the Spending Review – What Next ?

December 3, 2020

myersclark

This however was not a Budget and therefore as expected no announcements on the future tax strategy. There is an acceptance overall from the pundits that tax will have to increase.

What are you doing to keep in touch with your clients and customers? Depending on the type of business you are in, it will differ from email communication, telephone conversations, use of social media and may be something even a bit more formal
Business Tips
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Myers Clark Updates
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News

Why your relationships matter

August 14, 2020

myersclark

What are you doing to keep in touch with your clients and customers? Depending on the type of business you are in, it will differ from email communication, telephone conversations, use of social media and may be something even a bit more formal

Staying on top of the moving cash in your bank account is not easy and without a robust cash management system you will not be able to foresee any problems a
Business Tips
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Cash Flow
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Quick Books

Importance of A Cash Flow Forecast

August 10, 2020

myersclark

Staying on top of the moving cash in your bank account is not easy and without a robust cash management system you will not be able to foresee any problems a

But let us say you know how your business is performing – do you know what you are measuring your performance against?
Business Tips
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Myers Clark Updates
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News

Revisiting your Goals

August 5, 2020

myersclark

But let us say you know how your business is performing – do you know what you are measuring your performance against?

So, what does this next normal look like? This is a great opportunity to look at the way you currently do business, ask yourself...
Business Tips
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Myers Clark Updates
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News

A New Way of Working

July 27, 2020

myersclark

So, what does this next normal look like? This is a great opportunity to look at the way you currently do business, ask yourself…

It is times like these that businesses can sometimes react by standing still, weather the storm and hope it will be okay. But is this always the correct response?
Business Tips
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Cash Flow
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Myers Clark Updates
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News

4R’s of Covid-19 – What are they?

July 20, 2020

myersclark

It is times like these that businesses can sometimes react by standing still, weather the storm and hope it will be okay. But is this always the correct response?

The Chancellor said the aim was to “give everyone the opportunity of good and secure work, so no one is left without hope.”
HM Revenue & Customs
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Myers Clark Updates
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Tax Advice
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Uncategorized

Chancellor’s Summer Economic Statement

July 10, 2020

myersclark

The Chancellor said the aim was to “give everyone the opportunity of good and secure work, so no one is left without hope.”

This July is like no other and many businesses will have changes and challenges to deal with over the coming months. We do not think it will be all bad because every major shock in the past has brought opportunities
Cash Flow

It’s July but not as we know it

July 6, 2020

myersclark

This July is like no other and many businesses will have changes and challenges to deal with over the coming months.
We do not think it will be all bad because every major shock in the past has brought opportunities

Being in business is tough right now.... but you are not alone
Business Tips
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News

Being in business is tough right now

June 22, 2020

myersclark

Being in business is tough right now…. but you are not alone

Business Tips
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Myers Clark Updates

Keeping your business running as the shops open

June 12, 2020

myersclark

Steps to Re-invent and Thrive

Business owners will need to change the way they operate

HM Revenue & Customs
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Personal Tax
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Tax Advice

IR35 Changes

March 10, 2020

myersclark

Another TV presenter loses an IR35 case…

Payroll
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Personal Tax
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Tax Advice

Off-Payroll Working (IR35) Review Conclusion

February 28, 2020

myersclark

HM Treasury has published its “report and conclusions” from their review…

Tax Advice
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Tax Planning

Bereavement Allowance

February 3, 2020

myersclark

The death of a spouse or partner is a very difficult experience…

Cloud Accounting
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Digital Technology

Why You Should Harness Technology For Your Accounting Function Now

January 24, 2020

myersclark

New Apps are coming to the market every week, but careful consideration needs to be given to what best suits you.

Myers Clark Annual Budget Breakfast

January 21, 2020

myersclark

Myers Clark Budget Breakfast | Friday 13th March 2020

P11d
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Payroll
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Personal Tax

‘Tis The Season To Be Giving

December 5, 2019

myersclark

The festive season is now in full swing and over the next few weeks businesses will be having parties and other festivities as a way of thanking their staff

Cash Flow
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News

Getting Paid Faster – Who Would Not Like That?

November 27, 2019

myersclark

Ask any small business owner what is the one issue that concerns them most and you are most likely to get the answer “cash-flow”.

R&D Tax Relief Claims Rise by Over 20%

November 27, 2019

myersclark

New statistics from HMRC have revealed that there was a 22% year-on-year rise in the number of claims for Research and Development (R&D) tax credits submitted. Out of 48,635 R&D credit claims so far for the 2017-18 tax year, 42,075 are under the SME R&D Scheme.

R&D Payment Delays

November 13, 2019

myersclark

Over the Summer of 2019, HMRC acknowledged that they were falling short of their 28-day turnaround times set for processing R&D claims.