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Tips and Advice to help you grow your business

Your company authentication code: what is it and why you do need to keep it secure?

What is an authentication code? If your company was incorporated through an agent, you may be unaware of your company authentication code. When you form a new company, Companies House issue a 6 digit alphanumeric code. This is known as your company authentication code, and it allows an authorised person to file forms with Companies House. In… Read More

New MTD regulations for VAT

HMRC, much to their embarrassment,  had to postpone MTD go live for non-VAT registered businesses in the beginning of this year. However, they are on track with MTD for VAT. Earlier this month HMRC opened consultation on MTD reforms in VAT. The new measures set out will come into effect in spring next year, most… Read More

Which networking expenses are tax deductible?

Are you attending lots of networking events? Are you working hard on your building your brand? Networking is an essential activity that businesses undertake in order to grow. Over time, it can quickly build up to a long list of business development expenses. Some growing businesses find that networking expenses are one of their biggest financial outlay after staff costs. We take a look here… Read More

Bad debts: claiming tax relief

Bad debts tax relief As business owners, ending up with unpaid bills is a harsh reality. Small businesses often have to make a judgement call between being cautious or taking risks, and sometimes the risks just don’t pay off. If a debt is ends up being written off, then tax relief on that debt could… Read More

Your savings income: What is it and how is it taxed?

What is your savings income? Your savings income comprises of interest from banks, building societies, national savings and investments. It also includes company and unit trust dividends but it doesn’t include pension income because this is taxed as employment income. How is it taxed?  The way savings income is taxed has changed radically and from April 2016 banks… Read More

National minimum wage

With effect from April 2017, the national minimum wage has increased to £7.50 per hour. This increase applies to employees, including directors. However, if your employee is an apprentice, they are entitled to the apprenticeship rate: If your employee is aged 25 and over, and works for 40 hours in a week, your annual salary payout… Read More

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