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BUSINESS GUIDES, INSIGHTS, ADVICE & NEWS
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Top 5 SME Challenges in 2020
According to the Federation of Small Businesses there were 5.8 million small businesses operating at the start of 2019. These contribute significantly to the UK economy and at Black and White Accounting, we’re proud to be playing our part to support and help them flourish.
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Pre-Year End Tax Planning Opportunities 2020
Are you being smart when it comes to taxes, by ensuring that you are taking full advantage of various allowances you could benefit from? If you are not sure, here are our top ten actions you should consider to reduce the amount of tax you will end up paying in the 2019/20 tax year.
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Employing Your Spouse – How to Make the Most from An Unused Tax Allowance
When you are self-employed, whether that be as a contractor, sole trader, agency worker or director of your own limited company, it is beneficial to maximise your tax allowance and bring your tax down to a manageable level that allows you to grow the business and make it profitable enough that you can afford to…
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It’s Chrisssssstmasss
Are you claiming all the expenses you can in your accounts to reduce your corporation tax bill? Company directors are entitled to provide an annual event for yourself, staff and your partner, and reclaim the costs, as long as the cost per head does not exceed £150 (including VAT), not even by a penny. The…
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Getting a Self-Employed Mortgage – Why an Accountant Makes all the Difference
Let’s not beat around the bush – getting a mortgage if you are self-employed or run your own business is hard. There are a lot of obstacles in the way of buying a property and if you are in the position where your work and your income fluctuates, then it can feel impossible to break…
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How can I incentivise my key staff?
One of the biggest headaches of an entrepreneur is building and retaining a great team, who understand your vision, and are able to consistently deliver what and how you want them to. Whilst there are lots of opportunities here, the focus of this article is shares. This is because they can be a way to…
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Power of Attorney (PoA)- Having Your Finances Secured
When dealing with finances, there is a hierarchy that seems to exist in most people’s minds when it comes to making sure their family are cared for should anything unexpected happen to affect their ability to provide.
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Can I save taxes and the planet at the same time?
News stories of environmental disasters, demonstrations in central London and even the recent hot summer have made us aware of the importance of playing our part in protecting the environment. The good news is that your business may be eligible to benefit from tax relief by participating in schemes encouraging businesses to go green.
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Case Study – Dealing with a Limited Company’s Accounting Nightmare
An accountant can get your business, and your life, back on track There’s lot to think about when starting your own business and finding the right expert business and accounting support from the beginning makes a huge difference. However, it can be even more important at the end of a business, or if things go…
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Should my business be VAT registered?
VAT, or Value-Added Tax, is a consumption tax, where the tax is applied to the purchases of goods and services of taxable supplies. It is seen as a regressive tax because it impacts the poorer more than the rich, due to the higher propensity to spend of the former group. Initially modelled on the EU-framework,…
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Help: I’ve been made Redundant – the Tax Implications
One thing’s for sure, this is a difficult time for everyone involved, so the last thing you need is Accounting and Tax rules making things even more difficult than they need to be. The rules here are not that simple, but with the right advice, they don’t need to make the process any harder, for…
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How To Find An Accountant To Do Your Tax Return
Self assessment tax returns! Do those words bring on a headache? As we approach the winter months and the end of the year our thoughts may be turning to more exciting things than tax returns (psst! there only 11 weekends until Christmas!). However, now is a very good time to start thinking about filing your…