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New Support Announced For Businesses Following Lockdown 3.0 By The Chancellor

With many businesses having to close due to lockdown 3.0, the Chancellor has announced further support for businesses on 5th January, 2021. Retail, hospitality and leisure businesses will get one-off top up grants worth up to £9,000 per property.Impacted businesses will have access to a discretionary fund of £594 million. It is being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restr...

January 5, 2021

With Tax The Self-Assessment Tax Return Deadline Next Month, How To Avoid The Tax Scammers

Unfortunately, we are well aware of criminals preying on individuals in all walks of life. With the tax return deadline just over 8 weeks away, HMRC are warning self-assessment customers to take care to avoid being caught out by scammers. The tax return department issues thousands of text messages and emails as part of its annual Self Assessment tax return push. In the last 12 months, HMRC has responded to more than 846,000 referrals of suspicious HMRC contact and reported over 15,500 malicious ...

December 4, 2020

We Are Marking International Day of Persons with Disabilities By Championing Our Client Adam Thomas Who Designs Accessible Kitchens

This year, International Day of Persons with Disabilities is highlighting “Building Back Better: toward a disability-inclusive, accessible and sustainable post COVID-19 World Disability inclusion is an essential condition to upholding human rights”. The annual observance of the International Day of Disabled Persons was started by the United Nations General Assembly in 1992. It aims to promote the rights and well-being of persons with disabilities and to increase awareness of the situation of...

December 3, 2020

Key Business Points From The Chancellor Government Spending Plans Announcement

With the coronavirus pandemic causing an ‘economic emergency’, the chancellor, Rishi Sunak claims it has only just begun and will cause lasting damage to growth and jobs. Forecasts show that the UK economy is not expected to return to it’s pre-crisis level for 2 years. The government will borrow £394 billion this year, Mr Sunak said his "number one priority is to protect jobs and livelihoods”. This year, the government are providing £280 billion to get the UK through coronavirus. Stati...

November 30, 2020

Global Bookkeeping Week: With Businesses Booming, How In Demand Bookkeepers Can Help Businesses

As we wrap up a week of celebrating global bookkeepers, we look in to bookkeeping as a career.The number of private sector businesses in the UK at the start of 2020 was estimated to be 6 million, made up of:5.94 million small businesses (0 to 49 employees),36,100 medium-sized businesses (50 to 249 employees)7,800 large businesses (250 or more employees,This was an increase of 1.9% (113,000 more) businesses compared with 2019. 2.7 million private sector businesses were recorded as regis...

November 20, 2020

Global Bookkeeping Week: Why Bookkeepers Are So Much More Than Data Entry Clerks

As part of Global Bookkeeping Week, we look in to the often misunderstood role of a bookkeeper. What Is A Bookkeeper? Bookkeepers are responsible for providing accurate, up-to-date financial information about a business. We are always taking the pulse of a business, we often act as an extension to the business and encourage our clients to include us in development of their strategies. We work closely with our clients on how to grow their business, how the decisions and technology will impac...

November 19, 2020

Global Bookkeeping Week: Bookkeeping Success Story

As part of #Globalbookkeepingweek we take a look at one of our many success stories, where we have turned our client's business and fortunes around! Background Client is an independent kitchen studio designedBased in the High Wycombe area in BucksEstablished 1992Company has interests in a range of kitchen design areas, including standard retail kitchens, kitchens for private developers and kitchens for older and disabled peopleFit kitchens across the UKHave an established reputation, particularl...

November 17, 2020

Global Bookkeeping Week:Focusing On The Role Bookkeepers Have Played Supporting Clients Through COVID-19

The focal message for this year’s Global Bookkeeping Week is to celebrate the role bookkeepers play in helping their employers and clients succeed through Covid-19. Our clients are made up of sole traders and small to medium businesses, many have been affected by the COVID-19 pandemic. We have continued to operate as normal and be on hand torespond to our clients 24/7. Back in March, we launched our coronavirus support page for businesses and individuals – whether they were&nb...

November 16, 2020

Today Marks The Start Of Global Bookkeeping Week - A Time To Celebrate Bookkeepers And Their Contribution To Business And Economy

Global Bookkeeping Week is now in its 6th year, it’s supported by the Institute of Certified Bookkeepers (ICB) offices around the world including New Zealand, Australia, Singapore, the Philippines, India, UK, Ireland and the USA. It is a celebration of bookkeepers and how they benefit people, businesses, communities and our economy. This week of special events brings together everyone passionate about bookkeepers toenco...

November 16, 2020

The Government Has Announced Additional Business Support For The Coronavirus Pandemic Including Extending The Furlough Scheme Until End March 2021 - What You Need To Know

On Saturday, it was announced that England will go back in to lockdown from 12.01am on Thursday 5th November until 2nd December. The restrictions are not as tough as the lock down earlier this year however a lot of businesses will be forced to close so the government has postponed the introduction of the new Job Support Scheme (JSS) Open and Closed which was supposed to have started yesterday and instead extended the Coronavirus Job Retention Scheme (CJRS). Extended the Coronavirus Job Retention...

November 2, 2020

*EDIT - POSTPONED UNTIL EXTENDED FURLOUGH SCHEME ENDS* Everything You Need To Know On The Job Support Schemes (JSS) Which Replaces CJRS 'Furloughing' From 1st November, 2020

Please note, following the announcement on 31st October by Boris Johnson of the new England lockdown set to last a month, the Coronavirus Job Retention Scheme (CJRS) has been extended for a month and the Job Support Scheme (JSS) detailed below will commence once the Furlough Scheme extension finishes.What Is The Job Support Scheme (JSS) Open And Closed? The Coronavirus Job Retention Scheme (CJRS) also referred to as furlough ends on 31st October, 2020 and is being replaced by the Job Suppor...

October 30, 2020

Tax Losses From CIS Scheme Solutions To Come In To Force To Tackle Tax Fraud In The Construction Industry

HMRCs consultation on new powers to correct the Construction Industry Scheme (CIS) deduction amounts claimed by sub-contractors on employer returns earlier this year has now presented solutions to tackle fraudulent practices in the construction industry scheme and is due to come in to force from 6th April, 2021. Accounting Web reports: Subcontractor companies which have suffered deductions from payments by contractors are able to set off those deductions against their PAYE liabilities as an empl...

October 16, 2020

The State Pension Age For Men And Women Is Now The Same - Do You Know Enough About Your Pension?

What Is The State Pension?The State Pension is a regular payment by the government that people can claim once they reach the specified age, the State Pension age differed between men and women in the past with women able to claim this at a younger age then men but both men and women have their state pension age aligned to 66 for now (October 2020.) So, for the time being, both men and woman must be at last 66 to be granted access to their state pension. It is expected that in 2026 more chan...

October 12, 2020

Can A Business Claim Tax Relief On Employees Eye Tests And Glasses Paid For By The Business?

Employers must protect employees from the health risks of working with display screen equipment (DSE) such as PC, laptops, smartphones and tablets. Regulations for DSE do not apply to workers that use screens infrequently or for a short time. Employees should ensure they take regular breaks from DSE work, whilst DSE work does not cause permanent dame to eyes, long spells looking at the screen can cause: tired eyesdiscomforttemporary short-sightednessheadaches   It is important for the emplo...

September 28, 2020

Employing Staff For The First Time? Make Sure You Know Your Responsibilities

Set up as a new employer with HMRC In order to set up a Pay As You Earn (PAYE) scheme with HMRC it is necessary to contact the New Employer’s Helpline. This takes up to 5 working days and can be done 2 months before you start paying people. This can be done by: Online: – click here to register as an employer for Gov.uk Phone: 0300 200 3211   As an employer you will be responsible for operating PAYE and calculating National Insurance Contributions (NICs). There a...

September 14, 2020

HMRC Have Fined A Double Glazing Company Over £58,000 For Failing To Correctly Operate PAYE And Inaccurate Staff Records

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September 9, 2020

As Part Of National Payroll Week We Look At How The Payroll Software BrightPay Has Supported The Change Of Working Habits Caused By Coronavirus COVID-19 Pandemic

Over the last 6 months we have seen many changes, the coronavirus pandemic has turned our lives upside down both personally and professionally. Professionally, there has been much disparity to jobs with some industries not functioning at all but other industries inundated with work. For those lucky enough to continue to work, how and where they work has vastly changed. Thanks to the existence of the internet many of our computerised tasks can be carried out remotely just as easily as in the offi...

September 9, 2020

What Is Your Tax Code?

Were you aware you could be underpaid or overpaid without even knowing it? This happens if you are on the wrong tax code. While being overpaid because of an incorrect tax code may not sound too bad, the tax man will catch up with you and any unpaid tax may be taken from your pay over the next tax year - leaving you with less take home pay.   What is the solution? Check your tax code. It takes five minutes and will ensure that you are gettin...

September 8, 2020

As Part Of National Payroll Week 2020, We Have Interviewed Our Payroll Expert, Carol Webb PM Dip About All Things Payroll

How did you get in to payroll? Payroll was a natural progression from bookkeeping. All through my office management and finance management life someone else did the payroll so it was not something I had ever thought about. Then, when I first started on my own I was asked to provide maternity cover for another bookkeeper. When she showed me the ropes she asked me to do a simple payroll, that's when the realisation hit me that I would need to understand payroll to be an efficient bookkeeper. ...

September 7, 2020

National Payroll Week 7th – 11th September 2020 - What Are We Celebrating?

We know payroll professionals do a fantastic job but many people outside of the payroll industry don’t know what they do exactly and how their work supports the UK economy.So, National Payroll Week was established by CIPP (Chartered Institute of Payroll Professionals) in 1998 as a chance to cheer on the payroll professionals, highlight what an amazing job they do and the impact they have to the UK economy. Working in payroll is not an easy role, it is much more than making a few clicks on...

September 7, 2020

*EDIT - POSTOPNED* The Job Retention Bonus (JRB) Government Grant Introduced To Encourage Employers To Retain Furloughed Staff - Eligibility And How To Claim

The Chancellor has announced that CJRS, the ‘furlough’ scheme will be extendeduntil the end of March‌‌‌ 2021 for all parts of the UK and also confirmed that the Job Retention Bonus will no longer be paid in Fe‌‌‌bruary 2021, as CJRS will be available at that time. An alternative retention incentive will be put in place at the appropriate time.The government announced the Job Retention Bonus (JRB) in July to support the UK’s economic recovery. The JRB is a bonus, payab...

September 2, 2020

Many Businesses Could Unknowingly Be Committing Tax Fraud By Claiming Coronavirus Job Retention Scheme (CJRS) AKA The Furlough Scheme

In April this year, the government increased the Employment Allowance (EA) from £3,000 to £4,000 however there were more restrictions on eligibility than in previous years, therefore, employers needed to reapply and will need to do so annually. The Employment Allowance allows eligible employers to reduce their National Insurance liability by up to £4,000 per annum. This means that each time payroll is run, the employer pays less employers Class 1 National Insurance until t...

September 2, 2020

Value Added Tax (VAT) - A Look At What It Is; VAT Schemes & The Complexities

VAT (or Value Added Tax, to give its full name) was introduced in the UK in 1973 and is the third largest source of government revenue after income tax and National Insurance. VAT is levied on the sale of goods and services by UK businesses and is charged by a business at the point of sale of goods and services. The standard rate of VAT is currently 20%* and this rate has been in place since 4 January 2011. This rate covers most goods and services. The other rates are: • Reduced rate of 5%, w...

August 25, 2020

Quickly And Easily Manage Your Bookkeeping: Receipts and Invoice Filing And Data Entry Made Simple

We are all looking to save time and make our lives easier, unfortunately your bookkeeping can be a time intensive process – we are always looking at ways to help our clients cut down on time and energy spent to provide us with what they need. Many businesses and individuals find managing their paperwork an uphill struggle, piles of paperwork for business or tax returns, little time to sort through and process these, putting off dealing with the paperwork until it becomes urgent and then the st...

August 14, 2020

As A Proud BNI (Business Networking) Member, We Are Pleased To Announce That BNI Berkshire (Thames Maidenhead) Have Been Awarded 4 Awards!

At the BNI UK and Ireland National Awards, BNI Thames Maidenhead Chapter won 4 awards.They were: 1. Net Growth in Chapters 2. Net Growth in Members 3. Most improved region 4. Outstanding performance by a region.  BNI Locally in Berkshire continues to go from strength to strength and this is down to the brilliant work of all of the members....

August 12, 2020 Posts 1-25 of 119 | Page next
 

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