Working From Home – What You Need To Know About Tax Relief

These days it’s common to work from home at least some of the week. With busy schedules and a lot of places saying goodbye to the standard 9-5, there’s no wonder really. As well as this, lots of companies give their employees the opportunity to work remotely and are much more flexible with location arrangements.  However, this leads to a lot of our clients wondering whether there’s any tax relief for those than work from home to cover the costs of doing so. It can be hard to get your head around the ins and outs of what you can
Read More

Self-Assessment Questions & Answers

There are usually tons of questions being asked during January about Self-Assessment. As the strap-line goes ‘tax doesn’t have to be taxing’ but unfortunately it often is for many, and as accountants we can see why! We have answered some of the common questions below but if you have any others then fire away and we will answer them for you. How do I pay the tax and National Insurance (NI) due? You have to make sure your payment reaches HMRC by the deadline, which is the 31st January. The time you need to allow depends on your choice of
Read More

What is Self Assessment and when should you go Limited?

What is it? Or rather: what is it other than a phrase that terrifies many, stresses out more, and bores or baffles everybody else?   It is mainly for the self-employed so whether on your own or in a partnership. It also affects directors of limited companies, some pensioners, subcontractors, people who have rental properties, and those people who are employed but fortunate enough to be paying high rate tax.   How do I even begin to approach Self-Assessment? If you are in business make sure you keep accurate and up-to-date business records, an accountant can help you in this
Read More

Resources for start-up businesses

If you are just starting your own business or expanding/taking on employees there is a lot you need to know and keep up to date with. Visit our handy downloads page to stay up to date with all the latest tax information and guidance on how to approach VAT, payroll, National Insurance contributions, self-assessment and bookkeeping. Use the links below to find out more of what you need to know: New starter checklist for Payroll https://www.abc-accounting-services.co.uk/perch/resources/basic-payroll-information.pdf  The basics of bookkeeping https://www.abc-accounting-services.co.uk/perch/resources/bookkeeping.pdf Self-Assessment explained https://www.abc-accounting-services.co.uk/perch/resources/1395927146selfassessment.pdf The basics of VAT – 2014 https://www.abc-accounting-services.co.uk/perch/resources/vat.pdf National Insurance Contributions – rates and allowances https://www.abc-accounting-services.co.uk/downloads.php 2014/15
Read More