Tax and finance insights

Our take on the accounting issues that matter to you, including guidance on what tax rules mean in the real world and practical tips on running your business.

Saving time in your small business

Running your own business is rewarding, but it’s also a busy job. While you have the freedom to choose how and when you work, you also have the responsibility of making sure everything gets done, from sales and marketing to finance and stock control.  That pressure can often be stressful to deal...

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Reverse charge VAT for the construction industry

A change to the VAT system was set to take place on 1 October 2019 – but that’s now been pushed back to 2020. The news was welcomed by campaigners, who had argued that contractors and subcontractors in the construction industry needed more time to prepare. The Chartered Institute of Taxation said...

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Choosing an accountant

Perhaps you’re in the early stages of starting a business, or maybe you’ve been let down in the past by a substandard service. Whatever your reason for seeking a new accountant, your choice is likely to have lasting effects on you and your business. Selecting an accountant isn’t a decision to rush...

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Starting a business

Self-employment has been the fastest-growing part of the UK labour force in recent years, with the number of sole traders and partnerships growing by 25% between 2000/01 and 2015/16. If you’ve got a business idea that you’ve tested and researched, and you’re ready to get started with your new...

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MTD for VAT returns: first deadline on 7 August

On 7 August 2019, the first quarterly VAT returns under Making Tax Digital (MTD) will be due. This marks a key stage in the MTD programme, which became law on 1 April but will affect businesses at different times depending on their VAT return period. The August deadline applies if your business is...

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IR35 changes in 2020: how to prepare

As announced in Budget 2018, reforms to IR35 in the private sector are set to take place from April 2020. This will mean instead of contractors being responsible for determining their own employment status for tax, the responsibility will lie with their client. It sounds like a relatively small...

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5 tips for planning your retirement strategy

With an ever-contracting state pension, an ageing population putting the system under pressure, and the decline of final salary workplace pensions, it’s more important than ever to actively plan the way you save for retirement. In April 2019, the lifetime allowance for pensions increased to...

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Lettings relief in 2020: What’s changing?

If you’re a buy-to-let landlord, it’s likely you’re already familiar with several of the tax changes that have targeted the sector in recent years. But for those planning on selling their property in 2020 or later, there are more changes to come. One of these is a restriction to lettings relief,...

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