Blog Posts
Is Making Tax Digital just for VAT?
Is Making Tax Digital just for VAT? The short answer is no. MTD for VAT is just one part of HMRC’s mission to go digital.
Finding a good accountant, not a cheap one
Around 20% of UK companies fail within their first year. According to figures from the Office for National Statistics, only 42.4% of businesses are still trading five years after being set up - and those stats pre-date COVID. Typically, one of the main causes is poor...
How does National Insurance work for a company director?
National Insurance for a company director works a little differently to National Insurance for other employees. Make sure you understand the difference.
What is the process to pay a dividend
You want to pay a dividend because you’ve heard it’s the most tax-efficient way of taking an income from the business. But the process isn’t as simple as just drawing out cash. With dividends, its important you follow the right steps. HMRC are hot on compliance checks...
Should I file my tax return early?
There are a lot of good reasons to file your tax return early. Find out exactly how much tax you owe and save yourself extra stress in a stressful year
Get quick accounting wins for your fashion business during challenging times
Fashion can be a tough business to be in at the best of times. Long seasonal cycles means time is largely spent planning ahead. Orders have to be in ahead of the season, and the cost of samples, manufacturing and marketing have to be covered early. Alongside the...
Registered Office Address vs Business Address
Did you know that your business address doesn’t have to be the same as your registered office address. What other options are there?
March 2021 Tax Day Announcements
We all heard the announcements made in the 2021 Budget on 3 March 2021. But did you know that HM Treasury published more than 30 tax policy announcements and documents? These Tax Day announcements were made less than 3 weeks later. No changes will be implemented in...
How can I make it easier for people to pay me (and fast)?
Setting up multiple payment methods in Xero is a major quick win. Offering different payment methods makes it easier for people to pay you, and it’s actually really easy to do using Xero online payment services. Getting paid fast can really help put a business...
Why Xero is the best accounting software for Landlords
Change is coming for the more than 2.5 million landlords in the UK. In less than 2 years the majority of landlords will have to register for Making Tax Digital. If you own a buy to let or furnished holiday let property in the UK, now is the time to move to accounting...
How much is National Minimum Wage 2021
The clocks have changed, spring is sprung, and April is fast approaching. It is time to make sure you are paying your workers the correct amount. So how much is the National Minimum Wage in 2021? On 1 April the National Minimum Wage (NMW) rates for all ages of workers...
Will the new IR35 changes affect me?
New IR35 tax changes will come into force in the private sector in April 2021. As a result some self-employed workers, and the businesses that hire them, will have to pay tax differently. Are you one of the 170,000 ‘contractors’ who may have to pay more tax? Are...
Follow Starfish Accounting
