Watson Knipe Blog

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system.

Being a sole trader, also known as being the sole proprietor, remains one of the most popular types of UK business structures for many reasons. Especially if you are going into business on your own for the first time, it can hold a lot of advantages.

Being a limited company can provide very profitable benefits when considered over becoming a sole trader. One of the main advantages of running your business as a limited company is, in some cases, it can help reduce costs.

As you may know, HMRC is phasing in its landmark Making Tax Digital (MTD) regime, this will ultimately require taxpayers to move to a fully digital tax system.

As outlined in our blog - The benefits of using accounting software we explained that HMRC is working towards Making Tax Digital for businesses. To prepare for this change, it’s worth considering using accounting software.

We continue with our series of blogs about different accounting software that is available to small businesses. We do not have a specific bias to any one type of software.

Our final blog in this series is about FreeAgent Accounting Software. For businesses that are looking for an online solution to manage their finances.

When you start your business all your energy goes into product or service development, marketing and making sales you certainly don't think about your exit strategy.

In our last blog – Have you got an exit strategy? – We gave details of the options you may consider when selling your business. Regardless of which way is the best for your business, here are some tasks that you should undertake to make sure that your business is ready for you to exit.

When you run a business, you need to know more about your tax obligations. Most people think about their end of year tax return and don’t always understand the other taxes that they may be liable for.

As you know the HMRC initiative for Making Tax Digital is underway and we at Adcock Accounting are keeping up to date with any news we can share with you. 

If your business is registered with Companies House, then you should read this article as it explains the duties of a Company Secretary.

On Monday 22 October, HMRC published a Partnership Pack on GOV.UK to help businesses plan for the unlikely possibility of a ‘no deal’ EU Exit.

If you employ people in your business, then it’s essential to keep up to date with the changes to the National Living Wage and National Minimum Wage.

The main news is still about Making Tax Digital, but we wanted to give a quick summary of some of the other business taxes as well so that you are aware of what may impact your business in the next tax year 2019/20.

In the Autumn Budget 2018, some updates were announced with regards to employment taxes. We have summarised some of the key points for employers in this article. The full Summary of the Autumn Budget 2018 can be found on our website.

It's always a good idea to have a business plan.  Often people do this at the start of the financial year, but any planning time you can spare is going to help whatever the time of year.  What constitutes a good business plan and how can your accountant help you?

As we move closer to the new Government initiative of ‘Making Tax Digital, we felt it was important to explain the benefits of having an accountant.

If you employ staff, you will know all about auto-enrolment, for businesses that may be thinking of employing staff its essential to understand your obligations.

As tax specialists, we like to keep our clients and contacts up to date with any ways in which they can make savings on their tax bills. Many people don’t take full advantage of Research and Development (R&D) Tax Relief that is available to them.