7 February 2024

What is Corporation Tax?

Corporation tax is a tax Limited Companies pay on their profits. Taxable profits for CT are made up from trading, selling assets and investments. Annual accounts are prepared, CT is calculated on the profits, the accounts are filed with Companies...

26 September 2023

Basis Period Reform

HMRC are changing the accounting periods for Sole Traders and Partnership’s. Regardless of your accounting period, tax will be paid on the profit of the business within the tax year, starting from 2024. Therefore tax will be paid of profits...

18 September 2023

State Pension and National Insurance Contributions

Currently the state pension is funded by your National Insurance contributions. To be eligible for the state pension you must have enough qualifying years of paying National Insurance. What is the State Pension? The state pension is money paid to...

31 July 2023

Making Tax Digital for VAT

Making Tax Digital (MTD) is the new government strategy to digitalise HMRC and the tax system. It should make tax easier to process, improve accuracy and integrates a range of systems, ultimately ensuring HMRC collects all taxes owed. Making Tax...

27 July 2023

Making Tax Digital for Self-Assessment due April 2026

Making Tax Digital (MTD) is the new government strategy to digitalise HMRC and the tax system. It should make tax easier to process, improve accuracy and integrate a range of systems...

20 July 2023

Which do I need – a book-keeper or an accountant?

Find out whether you need a Book Keeper or an Accountant as we compare each role.