Could you benefit from a Xero Health Check?

By Nicole Ward

Could you benefit from a Xero Health Check?   Are you a business owner processing your own accounting records? Are you involved in a larger organisation with an internal accounting department? Maybe you’re not sure if you’re getting the advice you need from your current accountant? … It is happening more and more that business…

Jointly Held Property – Splitting Income Using Form 17

By Natalie Ford

Jointly Held Property – Splitting Income Using Form 17   Land ownership Two or more persons may hold legal title to land (which includes buildings attached to it – referred to for convenience as real estate) only as joint tenants; however, beneficial ownership of real estate may be held either as joint tenants or tenants…

Immediate Relief for Extended Loss Carry Back

By Nicole Ward

Immediate Relief for Extended Loss Carry Back As a measure to help companies that have suffered losses due to the pandemic the government announced that any losses incurred on accounting periods ending between 1st April 2020 – 31st March 2022 are eligible to be carried back up to three years. Claims over £200,000 must be made in…

Charities & VAT

By Emma Crawford

Charities and VAT    VAT Registration Charities are not exempt from VAT, as with all non-charitable organisations, if its VATable sales exceed the VAT threshold (currently £85,000), a charity must register for VAT with HMRC.   Alternatively, if its sales are below the threshold, a charity can still choose to register for VAT in order to…

HMRC give September deadline for bad debt collection

By Natalie Ford

HMRC give September deadline for bad debt collection HMRC have published its policy document, ‘Collecting tax debts as we emerge from coronavirus (COVID-19)’. It warns that should companies or individuals ignore HMRC, the agency would initiate enforcement action after a September 2021 deadline. The policy document outlines its process in handling Outstanding debt to HMRC.…

How about a virtual CFO for your small business?

By Nicole Ward

How about a virtual CFO for your small business? People usually think of a Chief Financial Officer (CFO) being a role fit for a large corporation and that it shouldn’t be considered for small businesses. This is technically correct as cashflow can be tighter in small businesses however, why not consider the next best thing?…

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