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As a self-employed individual in the UK, planning for retirement is essential to secure your financial future. While you may not have the benefit of an employer-backed pension scheme, there...
Are you a self-employed parent in the UK struggling to balance work and childcare costs? Good news! The government’s Tax-Free Childcare scheme may help to ease your financials. As an...
What are Allowable Expenses? Allowable expenses are the costs you can deduct from your business income before calculating your tax liability. By deducting these expenses, you can effectively lower your...
Understanding VAT on Invoices: Value Added Tax (VAT) is a consumption tax imposed on goods and services at each stage of the supply chain. As a VAT registered business, it...
As an entrepreneur, you are constantly seeking ways to optimise your business operations and maximise your financial potential. One strategy that can offer significant benefits is the establishment of multiple...
As a small business owner in the UK, it is crucial to stay compliant with Companies House regulations, including the timely filing of your annual accounts. However, unforeseen circumstances or...
As we embark on the 2023/24 tax year, there is some news that may bring a smile to the faces of many hardworking individuals. The self assessment (SA) threshold for...
This blog serves as a guide to help you navigate the process of creating and managing a government gateway account. All small business owners should create a government gateway account...
As a property investor, there are several tax deductions that you can claim to reduce your tax liability and maximise your returns. Some of the key deductions include: Mortgage interest:...
The tax year for 2022/23 ended on 05 April 2023, and we have provided a handy checklist guide of the documents that you may need to complete your return. Make...
As of 01 April 2023, the government has announced that Super Tax Deduction will be replaced with Full Expensing. This significant change is expected to have a significant impact on...
Capital Gains Tax (CGT) is a tax that is levied on the profit that you make when you sell assets, such as property or stocks, for more than you paid...
Cashflow refers to the amount of money flowing into and out of your business, and it’s a key indicator of your company’s financial health. In this blog, we’ll provide tips...
Networking is an important aspect of business and personal growth, but it can be challenging for introverts who prefer to avoid social situations. The good news is that there are...
A director’s loan account (DLA) is a financial arrangement between a limited company and its director(s). It is essentially a record of any transactions between the two parties and reflects...
National Minimum Living Wage Increase The National Living Wage will be increased from £9.50 an hour for over-23s to £10.42 from April 2023. The rate for 21-22 year olds will...
Dividend Allowance As a Shareholder of a Limited Company you make take dividends, in the Autumn Budget it was announced that the tax-free allowance for dividend income (the ‘dividend allowance’)...
Stamp duty is the money you pay to the taxman when you buy property or land in the UK worth over a certain value. Stamp duty land tax in England...
The 1.25 percentage point rise in National Insurance will be reversed from 6 November, the Chancellor Kwasi Kwarteng has announced. From April 2023, this was due to be paid through...
The Energy Bill Relief Scheme has been announced to help small businesses and provide an equivalent level of support with their energy bills as individuals. The scheme will start on...
Reforms to IR35 were introduced in April 2021. This meant that workers routinely working with the same contractors had to be counted as PAYE staff, or face action from HMRC....
You may be surprised at how many tradesmen fail to have a standardised process for building proposals and contracts before starting work. We have put together a checklist guide containing...
First time buyers only have two more months to use the Help to Buy Equity Loan Scheme which enables people to purchase a new build property with just a 5%...
The property market is becoming more expensive than ever which can be daunting for people looking to climb the ladder. Property giant Zoopla has broken down the top 10 cheapest...
BFI The BFI Film Fund has multiple funding options and they are supported by the National Lottery and UK Government. They provide funding for film and TV development and production...
The Musicians Union stand up for employed and self-employed musicians working in every area of the UK music industry, including music education. They work to maximise the employment and overall...
Top 10 Locations where homes are selling fastest Research by property giant Zoopla has revealed the top locations where homes are selling fastest in 2022. Read more to find out...
New £1 Million Fund to Support Young Black Entrepreneurs to Launch & Grow their Own Businesses (UK) The Future 100 Growth Fund will support young entrepreneurs aged 18 to 30...
Claim up to £5,000 with the Employment Allowance Employment Allowance is a tax relief which allows eligible businesses to reduce their National Insurance contributions (NICs) bills each year. You can...
Acquiring and learning the following skills will prove beneficial when it comes to entrepreneurship: Sales – learning sales and communication is important for building business, this will also help you...
“If you’re a professional performer who wants to train for a new career, or who is facing financial difficulties, then we will endeavour to help you out.” The Equity Charitable...
The Actors’ Benevolent Fund has one grant programme open to professional actors, actresses and stage managers and offers support to those who are unwell, injured or unable to work because...
The Bank of England has announced plans to relax mortgage lending rules from 01 August in a boost for first-time buyers. Currently, borrowers have to show they would be able...
Applications are now open for the government’s Help to Build scheme An equity loan scheme that enables independent home builders with a 5% deposit to apply for a government loan....
A new Rental Reform Bill for England introduced by the Government has seen Section 21 evictions – also known as no-fault evictions – become illgeal. The reform aims to protect...
According to Rated People’s 2022 home report, these are the top home improvement trends that could, not only help your property sell, but add to its value. Flooring: Homebuyers highly...
Airbnb has permanently banned parties and events at homes on its platform The temporary public health measure introduced during the COVID-19 lockdown in August 2020 proved popular with hosts after...
Built for Renters or Build to Rent Properties are homes that have been specifically built to provide private rental accommodation and usually have longer-term tenancies, extra on-site facilities and internal...
As house prices continue to rise, it is undeniable that the real estate market in the UK is a seller’s market. At the same time, in today’s unstable economic environment,...
Bookkeeping might not be a core task in your business – but it is certainly an essential one to keep your organisation compliant, profitable, and performing up to standards. At...
Help Musicians is offering financial support of up to £5,000 towards the cost of touring where it is possible to help clear the impact it would have on further developing...
It is undeniable that today, the UK is navigating a seller’s market. While house prices continue to rise and inventory is at an all-time low, renting your existing property or...
If you are a business owner or entrepreneur, one of the most critical questions you’ll find yourself having to answer is: how should you price your products or services? Balancing...
Smart businesses maintain a savings account as a part of the business holdings – the world of business is an unpredictable one, so it is inevitable that all businesses will...
Over the past decade, the average deposit put down by a first-time buyer has soared by more than 50% with the typical person putting down an average of £45,569 when...
The UK Spring Housing Market continues to defy records with the most expensive and fastest moving market in a long while – according to property giant Rightmove, houses in the...
From 01 April 2022, the National Minimum Wage is increasing to the following rates: Aged 23+ = £9.50 Aged 21-22 = £9.18 Aged 18-20 = £6.83 Aged 16-17 = £4.81...
Businesses must register for VAT if their VAT taxable turnover goes over the threshold, which is currently £85,000. However, you can also register voluntarily. There is a time limit if...
Employment Allowance allows eligible employers to reduce their annual National Insurance liability – under the scheme, you would pay less employers’ Class 1 NI each time you run your payroll...
Rishi Sunak announced in the Spring Statement on Wednesday 23 March 2022 that the government would be increasing the National Insurance threshold (the amount of income earned before you start...
The Plastic Packaging Tax is a tax on plastic packaging manufactured in or imported to the UK, where the amount used in its manufacture costs less than 30% recycled plastic....
Employment Allowance allows eligible employers to reduce their annual National Insurance liability by up to £4,000. Under the scheme, you would pay less employers’ Class 1 NI each time you...
After Brexit, Brits now have a limit on stays in the Schengen Area, an area comprising 26 European countries that allow free movement with no border controls. These countries are:...
When selling a house or flat, you must have an Energy Performance Certificate (EPC) which confirms how energy-efficient your property is. Your property’s EPC needs to be available to potential...
The rules surrounding ‘excepted estates’ have changed for anyone who dies on or after 01 January 2022. Estates classed as being ‘excepted’ may not require heirs to report the estate’s...
Help Musicians is extending the Coronavirus Financial Hardship Fund into 2022 after receiving £650k of hardship funding from ACE and DCMS. For those eligible, Help Musicians will offer a one-off payment...
New, tougher measures announced by the Government on 14/01/2022 will target owners of second homes who take advantage of the system to avoid paying council tax and access small business...
Why having a cashflow forecast is imperative for your property business Whether you are taking the first plunge into the world of property or you already have an established portfolio,...
The demand for property increased by 49% in January 2022 according to property giant Zoopla – which is the largest New Year increase in 5 years. This demand was for...
Harlow College is offering free online Level 2 Courses for a broad range of subjects to assist with professional or personal development. The courses typically take 6-10 weeks to complete....
The Omicron Hospitality and Leisure Grant provides local councils with one-off grant funding to support hospitality, leisure and accommodation businesses amid the rise of the Omicron variant. To be eligible...
There are a few different ways to be paid as a company director for example by putting yourself on payroll or paying yourself through dividends. Dividends are paid to shareholders...
Help Musicians – Do It Differently Fund The Do It Differently Fund by Help Musicians has developed a fund for musicians to focus on their creative portfolio, their business development...
The Prince’s Trust – Enterprise Programme The Prince’s Trust are working with the Start Up Loans Company to offer low-interest personal loans for business purposes between £500 and £25,000 at...
UK specialist Mortgage Lender Kensington Mortgages has introduced a 40-year, fixed rate mortgage deal which will allow aspiring homebuyers to borrow more money than from a standard deal. It allows...
How to record your Sales and Expenses for your Business Owning and running a business is a challenging feat in itself but the financial management side is a complex and...
As the holiday season approaches, it is important to remember HMRC’s rules which apply to staff gifts and celebrations! To be exempt from reporting a party/social function from HMRC, it...
Congratulations to our Director Andrea L Richards for winning Entrepreneur of the Year at The Baton Awards! Andrea has said: “I’ve won my second award for 2021 – Entrepreneur of...
The Prince’s Trust – Enterprise Programme for starting your own business The Prince’s Trust are working with the Start Up Loans Company to offer low-interest personal loans for business purposes...
The Business Recovery Loan Scheme has been extended until 30 June 2022. It was announced in the Autumn Budget that the Recovery Loan Scheme – originally expected to close on...
Congratulations to our Director Andrea L Richards for reaching the finals of Entrepreneur of the Year at the Baton Awards. The Baton Awards celebrates women from a diverse racial group...
As a Youtuber, Blogger or Content Creator, you are able to claim the following the expenses on your Tax Return: -Marketing costs e.g.: online adverts -Equipment e.g.: cameras, laptops, special...
During the Autumn budget on Wednesday 27 October 2021, Chancellor Rishi Sunak confirmed the rate of the Residential Property Developer Tax – this measure will introduce a new tax on...
According to Real Estate Giants Rightmove, the demand for rental homes outside of London has risen by roughly 70% compared to October 2020: Take a look below at the Top...
On October 04 2021, Rishi Sunak announced that the incentive payments to employers for hiring an apprentice will be extended until 30 November 2021. The incentive scheme offers a payment of...
From April 2022, the National Living Wage for workers aged 23+ will be rising by 6.6% to £9.50 – the Ministers have accepted the Low Pay Commission’s recommendation to increase...
The Best Businesswomen Awards have announced their winners for 2021 at a Gala Final held at the Hilton Wembley. Businesswoman Andrea L Richards from Accounts Navigator Associates Limited won Gold...
Having been in the industry since 1991, me and my team of experts have helped over 1000 actors, musicians, content creators and entertainers minimise tax and maximise cashflow so you...
On October 01 2021, the Stamp Duty Land Tax threshold will return to the usual threshold of £125,000 from the rate of £250,000 from 01 July 2021 to 30 September...
UK House Prices have hit a record high of £235,000 as the time at which sales are agreed reach their fastest pace for 5 years. The average home in the...
Here at Accounts Navigator, we are always looking for new team building activities to complete together. From Ninja Warrior to staff lunches to office trips, we place a high value...
Importance of management accounts Understanding your finances is imperative for any businessowner or sole trader – reviewing your accounts annually may seem like a time-saving solution and may give you...
Boris Johnson confirmed a rise in National Insurance for Health and Social Care. You pay mandatory National Insurance if you’re 16 or over and are either: An employee earning above...
The admin side of running a business and completing work is a tedious and begrudging task for any businessowner, but for those in the Construction Industry, the task can seem...
Under CIS (Construction Industry Scheme), contractors deduct money from payments to a subcontractor and pass it on to HMRC. These deductions count as advance payments towards the subcontractor’s tax and...
If you use your own vehicle for work, you may be able to claim tax relief on the approved mileage rate, which covers the cost of owning and running your...
Over the past week, drivers across the UK have struggled to fill up their tanks with petrol or diesel as a shortage in drivers to supply fuel has led to...
Launching on 21 September 2021, Talentview Construction (TVC) is an early careers initiative supported by the Government and the Construction Leadership Council as well as funded by the industry CITB...
UK Rent outside of London is increasing at their fastest rate since 2008. According to Zoopla’s Rental Market Report, the typical price of renting a home in the UK –...
The Plastic Packaging Tax will be a tax on plastic packaging manufactured in or imported to the UK, where the amount used in its manufacture costs less than 30% recycled...
Our YouTube Channel! We have some exciting news – here at Accounts Navigator, we have finally launched our YouTube Channel, with our first video “An Introduction to Accounts Navigator Associates”...
The Accounts Navigator Team took a Team Building trip to Manchester over the Bank Holiday Weekend to work on our communication and cooperation skills. Here at Accounts Navigator, we place...
Best Business Women Awards 2021 Finalists announced. The Best Business Women Awards have announced their finalists for 2021 and this is an amazing line up of incredible business women from...
HMO stands for House in Multiple Occupation and is defined as a property which has 3 or more people from more than 1 household living there who share kitchen, bathroom...
The Coronavirus Job Retention Scheme (CJRS), otherwise known as the Furlough scheme, is coming to an end on 30 September 2021. For claims relating to August and September 2021, the...
Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on...
Applications for the fifth and final SEISS grant close on Thursday 30th September 2021. In order to claim the 5th SEISS Grant, you must tell HMRC about your turnover if...
The fifth SEISS Grant will cover May 2021 to September 2021. To be eligible, you must be a self-employed individual or a member of a partnership. You must have traded...
The existing rules in place designed to protect commercial tenants from eviction have been extended until 25 March 2022. Businesses that have had to remain closed during the pandemic and...
From 01 August 2021, the level of the grant will be reduced and employers will be asked to contribute more towards furloughed employees’ wages. Employers will now be required to...
As an individual working in the Entertainment Sector, knowing your tax obligations and when these begin to effect you can be a daunting and difficult task – understanding the criteria...
A research study has shown that 9/10 locations that have seen the biggest increase in prices over the past decade are in London. The Top UK areas for 10-year house...
Knowing what expenses can be claimed with regards to content creation and video production can be confusing but Accounts Navigator is here to make it simple. Many video producers and...
A fifth grant covering May 2021 to September 2021 will be open to claims from late July. To be eligible for this grant, you must be a self-employed individual or...
Here at Accounts Navigator, we are constantly looking out for grants/funds that could help our clients recover from the effects of the COVID-19 Pandemic. Arts Council England, awarding funds from...
It is highly common for entertainers and creatives to work from home when creating content and/or rehearsing, so it’s important to know that you could be claiming a proportion of...
Here at Accounts Navigator, we are constantly looking for ways to improve our content and make it more valuable for our clients. Over the years, we have learned some key...
The First Homes Scheme was designed by the UK Government to help local first-time buyers and key workers onto the property ladder by offering homes at a discount of 30%...
The UK Government’s Help to Grow Programme will help small and medium sized businesses learn new skills, reach new customers and boost profits. Through the programme, you could get: •...
Those in the Construction Sector work long and difficult hours so finding the time to sort through documentation seems like a low priority. However, this does not have to be...
Theatre Trust’s Small Grants Programme funds small projects that make a big impact to a theatre’s resilience, sustainability, or accessibility. This scheme provides grants of up to £5,000 for essential...
Capital Gains Tax (CGT) is a tax on the profit when you sell (or ‘dispose of’*) an asset that has increased in value – it is important to note that...
Changes to the Coronavirus Job Retention Scheme (CJRS), otherwise known as the Furlough scheme, will come into effect on Thursday 01 July 2021. From 01 July 2021, the level of...
Recordkeeping for your Limited Company is imperative, not only for organisation and efficiency, but for tax and legal reasons. When running a Limited Company, you must keep records about the...
The Recovery Loan Scheme (RLS) allows businesses to apply for a loan of between £25,000 and £10million. The loans are 80% backed by the government, giving guarantee to lenders if...
Small business owners who abuse insolvency procedures to avoid repaying COVID debt could be banned from being company directors for 15 years. Dissolution via strike-off or voluntary liquidation is only...
The transition from working remotely to returning to your place of work can feel difficult especially as the world begins to return to normality (somewhat). We have outlined 3 key...
Busy year expected for the property market as new data reveals that more home sales are expected in 2021 than in 2007 when the market last peaked. Zoopla has revealed...
Fines and penalties for abuse of the 4th SEISS have confirmed by HMRC as more and more applications are submitted. The 4th SEISS Grant was made available to claim from...
A chartered accountant is someone who has received their accounting certification from the Institute of Chartered Accountants or the Association of Chartered Certified Accountants. Compared to regular accountants, they tend...
Common questions within the property sector that are often left with confusing answers usually surround VAT. The rules surrounding it are that if your total VAT taxable turnover for the...
In the March 2021 Budget, Rishi Sunak announced that the Coronavirus Job Retention Scheme (Furlough) would be extended until September 2021. Currently, the government covers up to 80% of an...
The SME Brexit Support Fund could give businesses up to £2,000 to help with training or professional advice, if you’re business has up to 500 employees and no more than...
A spring surge in house sales and property prices has been recorded amid government schemes aimed at supporting housing market. Data from HMRC shows that UK property transactions in March...
The 4th SEISS Grant is available to claim from 22 April 2021. The 4th SEISS Grant is available to claim from 22 April 2021 and will cover 01 February 2021...
Changes to Off-Payroll Working (IR35) have come into effect from 06 April 2021. These changes were due to come into effect on 06 April 2020 but were delayed until 2021...
The Government is investing £2.5billion in the National Skills Fund, which will help adults gain the valuable skills they need to improve their job prospects. Any adult aged 24 and...
The 2020/2021 self-assessment tax year has ended on 05 April 2021 which means that you are able to file your tax return with HMRC. We advise that you file as...
The UK will be entering the second stage of its easing of Coronavirus restrictions, with new rules coming into effect on Monday 12 April 2021. From this date, more businesses...
As of 01 April 2021, the National Minimum Wage has increased. All employees – as a minimum – should be paid these rates: ...
The Coronavirus Restart Grants are available from 01 April 2021. The Coronavirus Restart Grant scheme supports businesses in the non-essential retail, hospitality, leisure, personal care, and accommodation sectors in reopening...
According to Nationwide, the rate of annual house price growth slowed to 5.7% in March from 6.9% in February, making the average UK House Price roughly £232,000. Their figures show...
Last August, Rishi Sunak introduced Apprenticeship Financial Incentives which offered firms £2,000 to take on apprentices aged 16-24, while those that employ apprentices aged 25+ are paid £1,500. In the...
Landlords will now be required to have the electrical installations in their properties inspected and tested by a qualified individual and provide an electrical safety certificate for all private rented...
Any homeowner will know that the cost of renovating and decorating a house is expensive. Knowing what changes are worth investing in can be difficult, but we have outlined 5...
Musicians may struggle to be aware of the Allowable Expenses you are entitled to, so we have outlined a few for you here. Trying to transform your hobby into a...
While it is a common way for Artisans to start their businesses, it is by no means easy, which is why we have outlined 3 key tips for balancing your...
During the Spring 2021 Budget, Rishi Sunak pledged £408m to support the arts sector, aiming to help museums, theatres and galleries to reopen when Coronavirus Restrictions ease. £300m of this...
From 01 April 2021 to 31 March 2023, companies can claim 130% capital allowances in qualifying plant and machinery investments. The super-deduction will allow companies to cut their tax bill...
HMRC are greatly interested in the entertainment industry for a multitude of reasons: The constant income fluctuation Being an employee, self-employed or a combination High profile media attention Declarations of...
During the 2021 Budget, the Chancellor announced a Mortgage Guarantee Scheme, which will help people with small deposits get on the property ladder. The scheme will increase the availability of...
Craftspeople looking to turn their hobby into a business can struggle to understand their tax obligations or what allowable expenses they are allowed to claim. So, we have outlined the...
The Furlough Scheme has been extended until the end of September 2021, Rishi Sunak announced in the 2021 Budget. Currently, the government covers up to 80% of an employee’s salary...
Knowing the allowable expenses that you are entitled to claim as a construction worker can be vague or confusing, so we have made it simple: Allowable Expenses Construction Workers Can...
If you are a homeowner or residential landlord, you can apply for a Green Homes Grant voucher towards the cost of installing energy efficient improvements to your home. The voucher...
Initially introduced in July 2020, the Stamp Duty Holiday meant that if you are buying a home up to the value of £500,000 you will not pay any stamp duty....
If you deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make you can: Pay the deferred VAT in full, on or before...
The VAT Margin Scheme taxes the difference between what you paid for an item and what you sold it for – rather than the full selling price. You pay VAT...
Business in the construction industry and their success can be affected by factors that other businesses wouldn’t even consider. Weather, materials, working conditions – all of these can have an...
UK house prices rose by 8.5% during 2020 – the highest annual growth rate since October 2014. The average UK house price reached a record high of £252,000 in December...
Generally, the minimum deposit for a buy-to-let (BTL) mortgage is usually 20-40% of the property’s value. Most BTL mortgages are interest-only, which means that landlords only pay monthly interest payments,...
Knowing what Allowable Expenses you are entitled to claim as a writer can be confusing, but we have made it simple! The amount of confusion and uncertainty that comes with...
The Bounce Back Loan Scheme (BBLS) allows you to borrow between £2,000 and £50,000, capped at 25% of your total turnover until 31 March 2021. No interest will be charged,...
Chancellor Rishi Sunak has announced another Lockdown Grant Boris Johnson announced a nationwide lockdown after a rise in Coronavirus cases. The are one-off top-up grants for retail, hospitality, and leisure...
Self-Assessment customers will not receive a penalty for their late online tax return if they file by Sunday 28 February 2021. It is important to remember that taxpayers are still...
Britain’s biggest mortgage lender Halifax has said that the economic fallout caused by the Coronavirus Pandemic will catch up with the property market in 2021, with Property Prices expected to...
There is no denying the difficulties that have hit the business world during 2020 – particularly small businesses. Knowing how to grow from a gruelling year is imperative to continuing...
Theatre and Entertainment Professionals and the Hospitality sector have been struggling and relying on government finance schemes to remain afloat after multiple nationwide lockdowns. Throughout the course of the pandemic,...
With the long-awaited Brexit departure fast approaching, businesses are being urged to take the necessary measures to ensure they comply with the new rules regarding business with and within the...
Property Prices in the UK have seen an average of more than £15,000 added to their value since June – the largest 5-Month gain since 2004, according to a report...
The Construction Playbook outlines how the government will work with the construction sector to ensure a faster, better and greener delivery of public works. Launched on 08 December 2020, the...
Actors working in the Entertainment Industry comes with a highly unique set of circumstances, whether that is having more than one source of income, working inconsistent and unsociable hours or...
On 09 December 2020, it was announced that the Business Evictions Ban will be extended so business owners affected by the Coronavirus Pandemic will be protected from evictions until the...
Here at Accounts Navigator Associates (ANA), we believe in maximum efficiency which is why we strongly advise all our clients to use Receipt Bank to make submitting your receipts and...
Businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period – business can now...
The Construction Industry Scheme (CIS) is a tax deduction scheme which allows contractors to deduct money from a subcontractor’s payments and pass it to HMRC, which count as advance payments...
The Coronavirus Pandemic and the lockdowns that have occurred as a result have put immense pressure on the general public, particularly on small businesses. Whether you are continuing to work...
With the Self-Assessment Tax Return deadline approaching on 31 January 2021, HMRC is warning customers completing these returns to take care in avoiding scams. Phishing is a cybercrime in which...
Zoopla has analysed data in order to find the locations in Britain where homes sell most quickly. According to their House Prices Index, UK Property Sales Pipeline is 50% bigger...
On 05 November 2020, it was announced that the Coronavirus Job Retention Scheme (CJRS) would be extended by 5 months to the end of March 2021. Workers in the UK...
Entertainers may struggle to understand the processes and legal procedures of agencies. According to the GOV.UK website, you are an entertainment agency worker if you have a contract with an...
As a Limited Company, understanding the allowable expenses you are able to claim can help to reduce your Corporation Tax Bill. It is important to keep track of your company’s...
Within the construction sector, reporting progress is an essential factor and comes in various forms. Photo documentation is one of the most efficient ways of field reporting and tracking. While...
While hiring a professional photographer saves the hassle of attempting to work out the correct angles or lighting, this an expense you could save yourself by simply following a few...
CONNECTING SITE TO OFFICE Good communication is vital in any sector, but particularly for getting a construction job done. With the amount of people who will be helping out on...
1. SPONSORS Getting sponsors for events will help carry the expense in exchange for some form of advertising. It is usually a good trade for both the small business hosting...
Music Publishers play a role in the development of new music and take care of the business side of things. In return for doing this they will have a publishing...
Urban areas in Southern England have seen the biggest declines in job postings as vacancies have failed to return to pre-pandemic levels. The slow jobs recovery is linked to a...
Businesses will need to complete customs declarations from January 2021, regardless of whether the UK agrees a free trade deal with the EU. Traders importing standard goods will need to...
The LSRG supports businesses that have been required to close due to temporary COVID-19 local lockdown restrictions imposed by the government. Your business may be eligible if it occupies property...
Thinking of creative new ideas on how to help your business progress is harder than it might seem. As soon as the creative block hits, it’s hard to overcome. Down...
The average asking price of new homes on the market in Britain has hit a record high, according to Rightmove, with estate agents listing more homes as sold than they...
On Friday 16th September, Boris Johnson announced new measures to tackle the rise in Covid-19 cases. So, what are these new restrictions and how will they affect you? The government have...
Starting your own business is hard enough as it is, so finding schemes and grants to apply to seems like an impossible task. Here at Accounts Navigator Associates, we’ve made...
Getting a good night’s sleep while owning a business is a mutually exclusive phenomena for many - establishing a healthy and effective sleep schedule has become a luxury for business owners. Whether...
On Tuesday 22nd September, Boris Johnson announced new measures to tackle the rise in Covid-19 cases. So, what are these new restrictions and how will they affect you? HOSPITALITY From...
Following a post-lockdown boom, UK house prices hit a record high, with the average home being worth around £245,000. Halifax found that – compared to the same time last year...
The UK inflation rate fell to 0.2% in August from 1% in July as a result of the Eat Out to Help Out scheme implemented during the month of August,...
1.) PAINTING One of the best ways to showcase the potential of a property is with a fresh coat of paint. Using neutral tones throughout creates a new and fresh...
The Chancellor of the Exchequer Rishi Sunak unveiled the scheme that will replace the Furlough scheme, which comes to an end on the 31 October. The Job Support Scheme will...
From 01 March 2021, most supplies of building and construction services will require the domestic VAT reverse charge to be used. This charge applies to standard and reduce-rate VAT services...
The government has announced a further four-week extension to the eviction ban for tenants affected by the Coronavirus pandemic. This means that landlords in England and Wales will be banned...
Due to the current climate some businesses turnover has decreased and is therefore now below the VAT registration threshold (£85,000). This means that you can essentially de-register for VAT but...
The Job Retention Scheme has been beneficial for many UK businesses during the ongoing COVID-19 pandemic. The scheme has provided short-term financial support for businesses during the UK lockdown, allowing...
High Street retailers will have watched with dismay as competitors take their market share – not by businesses in their local business community – but globally, as consumers in the...
This may seem to be an odd question. They buy because you offer what they want at the right price? But is that the only consideration? For faceless organisations like...
HM Treasury has confirmed the extension of Making Tax Digital (MTD) to cover businesses with a turnover below the VAT threshold and for certain individuals who file Income Tax Self-Assessment...
Stamp duty slashed on purchases up to £500,000 The government has raised the stamp duty threshold in England and Northern Ireland to £500,000 until 31 March 2021. Previously, stamp duty...
In an attempt to address the financial difficulties of businesses in the hospitality and tourism industries, Rishi Sunak also announced a range of VAT reductions on selected supplies for these...
£20 million worth of new government grants have been released to help small and medium sized businesses across England recover from the effects of the Coronavirus pandemic. These grants will...
A new £500 million scheme to kickstart film and television production struggling to secure insurance for COVID-related costs has been launched. This scheme will help TV and film productions that...
As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is...
One of the measures announced by the Chancellor, Rishi Sunak in his recent Summer Statement was the introduction of the Job Retention Bonus. This bonus is designed to encourage employers...
The HM Government guidance titled Working safely during COVID-19 in shops and branches has been updated. The updates relate to managing product handling and returns, the test and trace service, safer travel...
The Coronavirus Job Retention Scheme (CJRS) also known as the furlough scheme has been extended until 31 October 2020. There are a number of important changes to the way the...
There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for...
The option to defer your VAT payments ends on 30 June 2020. The Coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between...
The word depreciation means a reduction in the value of an asset over time. It recognises the fact that if you buy assets for your business – cars, plant, computers...
Choose how and when you can delay making your second payment on account for the 2019 to 2020 tax year. You have the option to defer your second payment on...
If you own a business as a sole trader or in a partnership, a Capital Gain will arise if your business is transferred into a company structure. The gain will...
The Governor of the Bank of England, Mark Carney, has unveiled the design of the new £20 note which features the artist JMW Turner. The new note will be launched...
You can claim tax relief for your private pension contributions. The annual allowance is £40,000 for the current tax year. there is also a facility to carry forward any unused...
The shared parental leave and pay rules offer working parents far greater choices as to how they share the care of their child and take time off work during the...
There are rules in place which limit your options to change your company’s year end date. A company’s year end date is also known as its ‘accounting reference date’ and...
HMRC publishes a list of income streams that are excluded from a UK property business. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, lodgers and...
There are some important rules you must be aware of if your provide parking spaces to your employees. If the parking spaces you provide are at, or near your employee’s...
There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission (FPS). The FPS is a...
Now is the time that many businesses are planning their Christmas celebration for their staff, clients and prospective clients. The cost of a staff party or other annual entertainment is...
The Annual Investment Allowance (AIA) is a tax relief that was introduced in 2008. The AIA allows for the total amount of qualifying expenditure on plant, machinery, commercial vehicles and...
There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and private...
There is specific tax legislation that seeks to determine which charge takes priority where two different charges could potentially apply to the same income. These rules are known as the...
The Chancellor of the Exchequer Sajid Javid has said that the Government will reintroduce duty-free shopping with EU countries in the event the UK leaves the EU without a deal....
The VAT rule changes for building contractors and sub-contractors that were expected into effect imminently, have been delayed for 12 months until 1 October 2020. This announcement followed intense lobbying...
HMRC has published guidance on visiting the EU after 31 October 2019. They have said that there will be significant changes to the rules for EU travel if there is...
If the UK leaves the EU on 31 October 2019, without a deal, there will be immediate changes to the procedures that apply to businesses trading with the EU. Listed...
The government has published its response to its January 2019 consultation on “pregnancy and maternity discrimination: extending redundancy protection for women and new parents” and has confirmed that it will...
The High Income Child Benefit Charge (HICBC) applies to a parent whose income exceeds £50,000 in a tax year and who is in receipt of Child Benefit. If both parents...
If you are self-employed as a sole trader or as a partner in business partnership, then you must keep suitable business records as well as separate personal records of your...
Many taxpayers reach the State Pension age and continue to work. It should be noted that the requirement to pay any employee or self-employed National Insurance Contributions (NICs) ceases once...
Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees, for example, the use of a company car. There are no Class 1A...
A tax investigation is stressful, time consuming and usually very expensive. And it could easily happen to you. HMRC’s investigations are more focused than ever before. During the tax year...
Under qualifying circumstances, Corporation Tax relief is available where your company makes a trading loss. The trading loss can be used by offsetting the loss against other gains or profits...
There is usually no Capital Gains Tax (CGT) due on transfer of assets between husbands, wives and civil partners. However, there is still a deemed disposal that has taken place...
For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means businesses must consider where there is any personal or private use...
As part of the Autumn Budget 2018 measures it was announced that access to the Employment Allowance was to be restricted. From 6 April 2020, the £3,000 NIC Employment Allowance...
The National Cyber Security Centre (NCSC) has published guidance to help small to medium sized organisations prepare their response to, and plan their recovery from a cyber incident. The NCSC...
If your personal details change, you are required to notify HMRC as this can affect your entitlement to certain tax breaks and/or benefits. You need to tell HMRC if: you...
For many working parents, childcare costs can play a large role when planning to return to work. Now that childcare vouchers have closed to new entrants, we are reminding employers...
You can find a surprising amount of free information about companies on Companies House. This is in line with the government’s commitment to free data and ensures that all publicly...
A change to the VAT rules first announced at Budget 2018, will come into effect from 1 October 2019. This change will make the supply of construction services between construction...
The Annual Tax on Enveloped Dwellings (ATED) came into effect from 1 April 2013. The tax applies to certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more...
Taxpayers may find themselves in a position where they want to complain to HMRC, for different issues such as poor treatment, unreasonable delays or mistakes. In these circumstances HMRC use a...
The High Income Child Benefit Charge (HICBC) was introduced in January 2013 and applies a charge to taxpayers whose income exceeds £50,000 in a tax year and who are in...
The Mayor of London has launched a scrappage scheme to help tackle London’s air quality crisis. You can claim up to £3,000 off your newer vehicle if your vehicle doesn’t...
The cost of a staff party or other entertainment is generally allowed as a deduction for tax purposes. As long as you meet the criteria outlined below there is no...
There are a number of reasons why you may need to register with HMRC to submit a tax return. This could include: if you are self-employed and earning more than...
Where a freeholder (or landlord) of a property grants a new lease to a new tenant there are sometimes upfront payments due, usually known as a lease premium. The payments...
Starting from April 2019, most VAT-registered businesses that have a taxable turnover over £85,000 are required to keep their VAT records digitally and use Making Tax Digital (MTD) compatible software...
There are two changes to the way Private Residence Relief works that are due to come into effect from April 2020. These changes could reduce the amount of CGT relief...
The Help to Save scheme is for people on low incomes and was launched in September 2018. The scheme allows those in work entitled to Working Tax Credit and in...
HMRC have recently launched a new crackdown on money laundering regulation non-compliance by estate agents. This has recently resulted in over 50 visits by HMRC staff to estate agents all over...
HMRC’s guidance says that you are probably self-employed if you: run your business for yourself and take responsibility for its success or failure; have several customers at the same time;...
How much maternity leave can you take? If you work as an employee and become pregnant you are eligible to take up to 52 weeks of statutory maternity leave. This...
The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding...
If you are self-employed as a sole trader or as a partner in a business partnership, then you must keep suitable business records as well as separate personal records of...
The deadline for businesses with a turnover above the VAT threshold to keep digital records for VAT purposes using Making Tax Digital (MTD), is here. For VAT returns periods starting on...
Most of our readers will be aware of the £1,000 property income allowance that came into effect on 6 April 2017. This allowance applies to income from property (including foreign...
The 2018-19 tax year ended on 5 April 2019 and the new 2019-20 tax year started on 6 April 2019. Many taxpayers will be tempted to delay dealing with their...
The Help to Save scheme for people on low incomes was officially launched in September 2018 and since then over 80,000 people have signed up. The scheme allows those in...
There was a 51% rise in the number of landlords found to have underpaid or undeclared tax on letting income in 2018. A Freedom of Information request from Telegraph Money...
There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief for qualifying donations made to registered charities or community amateur...
The following statutory payment rates have been confirmed: The standard weekly rates of Statutory Adoption Pay (SAP), Statutory Paternity Pay (SPP) and Statutory Shared Parental Pay (ShPP) will increase from...
There are special rules involving bicycles usually referred to as ‘Cycle to Work’ arrangements. The Cycle to Work scheme was introduced almost 20 years ago to help promote the use...
Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes could reduce the amount of CGT relief available on the...
The Automatic Enrollment Order for 2019 has now been published. As expected, the earnings trigger has remained frozen for another year, which determines when an eligible worker is entitled to be automatically...
The 31 January 2019 is not just the final date for submission of your self assessment tax return but also an important date for payment of tax due. This is...
It’s that time of year when lots of people talk about personal New Year’s resolutions, but it’s also a great opportunity for you to reassess your business aims and objectives...
Following announcements made during Phillip Hammond’s Autumn Budget, we’ve taken a look at the changes landlords could face across the UK – including adjustments to the income tax, personal allowance...
As well as filing accounts with Companies House, there is a requirement to check that the information Companies House stores about your company is correct every year. This is facilitated...
Capital Gains Tax (CGT) rollover relief is a valuable relief that allows for a delay in the payment of CGT on gains when you sell or dispose of certain assets...
The introduction of MTD (Making Tax Digital) for VAT will affect businesses with a turnover above the current VAT threshold of £85,000. These businesses will be required to keep digital records...
There are a number of reasons why a taxpayer should complete a Self Assessment return. This includes, if they are self-employed, a company director, have an annual income over £100,000 and...
Lending money to your company If you lend money to your company, the tax effects are as follows: – Your company will not pay corporation tax on the money you...
Employer contributions to any type of pension arrangement in a registered pension scheme are always paid gross. Tax relief is given by deducting the gross amount of the contributions from...
There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report...
There are late filing penalties in place for employers that don’t report payroll information on time. The size of the late filing penalties depends on the number of employees within...
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