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Tax codes are fundamental to the operation of PAYE. If your tax code is correct, you should pay the...
In today's digital world, fraudulent schemes - particularly those involving HMRC scams - are on the...
It is often said that inheritance tax (IHT) is a voluntary tax, and one that can be avoided if you...
Paying National Insurance contributions allows individuals to earn qualifying years, which in turn...
Earlier in the year, it was erroneously reported in the press that new tax rules were coming into...
Diving into self-employment and starting your own business is by no means an easy feat. With that...
HMRC are sending one-to-many ‘nudge’ letters to taxpayers who included an invalid claim for gift...
With the closure of the 2023 tax year approaching on April 5, 2024, there remains an opportunity to...
The High-Income Child Benefit Charge (HICBC) is a tax charge that claws back child benefit where...
Voluntary disclosure involves individuals or businesses coming forward to inform HMRC of any errors...
6 Feb 2024
Tax and Influencers
Earlier this year, HMRC sent ‘nudge’ letters to social influencers who they suspect may not have...
While the economy may be slowly moving in the right direction, we´re not out of the woods yet! So,...
A significant task for the new business owner is ensuring that the business is properly complying...
Owners of personal and family companies frequently pay themselves a small salary and extract...
What do you really want from the New Year? As the calendar turns to 2024, we are all contemplating...
The end of a business will not necessarily mean that no further expenses are incurred. Where...
Are you gearing up to bring new talent on board? Don't let the complexity of budgeting for new...
Main residence relief is a valuable relief which prevents a tax charge arising where a gain is...
Satago solutions are designed to facilitate intuitive, data-driven decision-making while ensuring...
VAT registration is compulsory for any UK established persons who are in business and make or...
If you have a company that is dormant and you have filed your company tax return showing that no...
The tax legislation contains a number of exemptions which allow benefits in kind to be provided to...
We have joined Chaser’s Partner Programme to help SMEs get paid faster with market-leading credit...
Ready to turn your brand vision into a vibrant commerce experience? Look no further than Shopify –...
Starting a business from scratch or eyeing a new commerce partner? The options might be...
Every day, countless individuals, whether selling online, in physical stores, or across...
Ever started a new job and felt like you've been thrown into the deep end? It's unsettling, to say...
If you make a chargeable gain on the sale of a UK residential property, you will need to report the...
Designed with bookkeepers, accountants, and businesses in mind, Dext Commerce's accounting...
Puzzling over whether that quick lunch or client dinner can be claimed on your tax return? If so,...
'Tis the season for spreading cheer, and what better way for employers to do so than by gifting...
Today, the Chancellor of the Exchequer, Jeremy Hunt, announced his measures (a whopping 110 of...
Your safety and security is of utmost importance to all of us at Inform Accounting. In this age of...
We're proud to be partnered with one of the market-leading foreign currency accounts! Wise Business...
Inform Accounting are proud to partner with Soldo, a specialist business spend management platform.
Inform Accounting are proud to partner with iwoca, a specialist small business lender who have...
Inform Accounting are proud to partner with iwoca, a specialist small business lender who have...
We’re proud to partner with Funding Circle to provide a funding solution for our clients. We know...
For some time, taxpayers within Self Assessment have been able to set up a Time to Pay arrangement...
You’re in business to do business, not paperwork. Dext is the business expense tracker that tracks,...
If you are self-employed, the way in which your profits are taxed is changing. As a result of this,...
Private residence relief means that you do not have to pay capital gains tax on any gain that you...
If you let out a property, you can deduct the business expenses that you incur when working out...
If you make VATable supplies, you will need to register for VAT if your taxable turnover reaches...
If you need to file a Self Assessment tax return for 2022/23, you have until midnight on 31 January...
Ever found yourself lying awake at night, wondering how to keep more of your hard-earned revenue...
There are various reasons why HMRC may issue a tax penalty. You may receive a penalty if you file...
The Treasury has announced that the Office of Budget Responsibility (OBR) will produce a report on...
HMRC is clamping down on the use of high-volume addresses by online sellers to disguise their...
VAT
HMRC have sent out nudge letters to taxpayers who they believe may have claimed Business Asset...
Wouldn’t life be simple if you could guarantee that your invoice would get paid on time, every...
Millions of employees will be able to request flexible working from day one of their employment,...
The Department for Work and Pensions (DWP) has announced more detail on the payment schedule for...
Employers should be aware that all minimum wage rates increase on 1 April of each year. This...
Founded in 2014 by Anne Boden, Starling was the UK’s first mobile bank offering super-fast setup,...
From 6 April 2024, all unincorporated businesses will be taxed on their profit or loss arising in...
Neate & Pugh are a niche employment law and HR solutions firm, set up by Ann-Marie Pugh and Emma...
We wanted to tell you about our new payment service that is taking away the manual headache of...
Managing Director, Sian Kelly, of Inform Accounting shares what businesses in the creative...
HMRC is aware of a phishing campaign telling customers they can claim for the fourth...
Claims for the fourth Self Employed Income Support Scheme (SEISS) can now be made and must be...
A new penalty regime was introduced for VAT from 1 January 2023. The new regime comprises late...
VAT
Like many other taxes, inheritance tax (or IHT) allowances have been frozen. This sounds generous...
There are costs to running a business, and whilst electricity, gas and water seem like obvious...
Employers should be aware that from April 2023 several statutory payment rates increase for the...
The Energy Bills Discount Scheme runs for 12 months from 1 April 2023 to 31 March 2024.
The Bank of England Monetary Policy Committee announced on 23 March 2023 to increase the Bank of...
Last week, the Foreign Secretary, James Cleverly, and Vice President to the European Commission,...
Silicon Valley Bank (UK) Ltd (SVB UK) was sold last week to HSBC for a symbolic £1. HSBC,...
21 Mar 2023
Tax Rates & Reliefs
On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a...
In short, a P11D form allows you to inform HMRC of any benefits you’ve given to employees outside...
The Chancellor announced his March budget today. Similar to the budgets, autumn statements and...
Chancellor Jeremy Hunt has made it clear that he does not have room for big tax giveaways on March...
The new penalties will impact businesses who submit their VAT returns or pay their VAT late. The...
VAT
If you are planning to claim the UK state pension you should check your national insurance (NI)...
The Public and Commercial Service (PCS) union has announced Civil Service industrial action that...
The UK Government has published the proposed statutory rates for maternity pay, paternity pay,...
A range of polluting single-use plastics will be banned in England, Environment Secretary Thérèse...
The Government has announced a new Energy Bills Discount Scheme (EBDS) from April 2023 to April...
We’re really excited to be partnering with an award-winning payment solution, Crezco. Winner of...
The ability to fill historic gaps in National Insurance (NI) records to top up your state pension...
The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping...
The mandatory use of software for Making Tax Digital for Income Tax Self-Assessment is being phased...
Understanding VAT rules can be complicated at the best of times, so it’s no surprise that there’s...
VAT
This is a timely reminder that employers may make small tax-free gifts to employees and directors...
HMRC is reminding taxpayers that they must declare COVID-19 payments in their tax return for the...
With all of the U-turns on tax policy in the last couple of months, businesses may be confused...
For VAT periods starting on or after 1 January 2023, HMRC is replacing the default surcharge with...
VAT
Royal Mail are adding barcodes to their regular stamps. After 31 January 2023, regular stamps...
The Chancellor announced his Autumn Statement yesterday. We already knew that he was going to raise...
Jeremy Hunt is scheduled to deliver his first Autumn Statement on Thursday (17 November). Reports...
If you own a property which is let out, HMRC may contact you with a "nudge letter'', if they...
We all have to pay taxes. But what if we told you there are several strategies you can adopt to...
Today yet more changes and reversals to the Kwarteng mini-budget that wasn’t a budget. In short,...
The 70-year reign of Queen Elizabeth II was marked by her sense of duty and her determination to...
If you use Royal Mail to deliver your goods, you should be aware of the planned industrial action...
If you own property there are a number of tax implications which you need to be aware of.
HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1...
New just in - the Bank of England has announced the largest increase in interest rates in 25 years,...
The Covid-19 pandemic forced large numbers of employees to work from home for the first time....
HMRC have recently updated their guidance for companies looking to attract investors to buy shares...
Unincorporated businesses and companies planning capital expenditure projects need to be aware of...
The talent shortage continues to place a burden on the economy. As companies struggle to find the...
In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024...
The potential to be charged capital gains tax (CGT) arises with the sale or gift of an asset....
The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from...
Haig & Co is an accountancy and finance recruitment firm based in Birmingham founded almost six...
One of the worries we often hear from businesses looking to outsource their payroll to an...
The government announced in late December additional economic support to help businesses who have...
The main residence exemption applies for capital gains tax purposes to the extent that a property...
We encourage all clients to consider taking time to prepare a 2022 Strategic plan. “A sailor...
In 2018, a relatively small (but growing) ecommerce business approached Inform Accounting, after...
On Friday afternoon the UK Prime Minister, Liz Truss held a press conference. Ahead of this press...
Class 2 NICs are flat-rate contributions payable by the self-employed, currently charged at a rate...
Tax payments for the self-employed or those who declare their income under self-assessment are...
If you have a spare room in your home, you may consider letting it out to raise some much-needed...
Most people do not want to give money to the taxman when they die. However, while it is said that...
The Accounting Excellence Awards 2020 are targeted at recognising the ‘highs’ in the accounting and...
Following the increase in the Bank of England base rate to 1.25% earlier this week, HMRC has...
If you’ve made an R&D claim and are wondering where the payment is, HMRC has recently released this...
HMRC have issued guidance for VAT-registered businesses and their agents on how to avoid penalties...
Unbelievably there were very few changes to the HMRC advisory fuel rates from 1 March 2022, which...
New emails and letters appearing to be from employees of the Government Legal Department / Bona...
The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from...
The Annual Tax on Enveloped Dwellings (ATED) is a tax on high-value residential properties that are...
The nature of a gift is that it is something that is given without receiving a payment in return....
While the intention is to make a profit from letting out a property, this is not a given, and a...
In a personal or family company the director will often borrow money from the company. This can be...
The age-old question for many directors is whether they should take a salary, dividends, or both....
The VAT is a simplified scheme that can save work. Instead of working out the VAT that you need to...
Where a property is let out, there are likely to be periods when the property is empty, either...
Director’s loans, under the right circumstances, can help in the planning of withdrawing funds from...
Tax policy is used to influence behaviour as well as to collect revenue. One example where this is...
If you operate your business through a personal or family company and extract profits in the form...
If you realise a chargeable gain on a UK residential property, you now have 60 days rather than 30...
The Chancellor of the Exchequer, Rishi Sunak, delivered his Spring Statement on Wednesday 23 March...
All individuals are entitled to an annual exempt amount for capital gains tax purposes. Net gains...
There is a lot of preparation involved in setting up a business, and costs will be incurred, which...
You've probably heard the phrase Making Tax Digital (MTD) for VAT thrown around a lot over recent...
Transactions between a director and his or her personal or family company are common and a...
8 Mar 2022
Dividend 'traps'
A shareholder/ director is permitted to withdraw monies from the company’s bank account as salary,...
As we approach April 2022, a number of changes announced in the Chancellor’s latest Budget come...
To help meet the costs of health and adult social care, a new levy, the Health and Social Care...
New advisory fuel rates for company car drivers have been published by HMRC, which are to be...
New advisory fuel rates for company car drivers have been published by HMRC, which are to be...
As many of our clients know, and if it isn't clear enough on from our website, we LOVE Xero cloud...
Sometimes it can be difficult to find the most recent tax rates for any given type of tax. We've...
As part of the Government’s push to encourage drivers to ‘go electric’, the Transport Secretary,...
Where a chargeable gain arises in respect of a UK residential property, since April 2020, the gain...
Under the current rules for determining which profits of an unincorporated business are taxed in a...
Not all types of income are equal from a tax perspective, and savings income enjoys dedicated...
The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January 2022 if a...
The January self-assessment payment deadline is not well timed, falling as it does in a month when...
HM Revenue and Customs (HMRC) is reminding Self-Assessment tax payers to declare any COVID-19 grant...
With crytocurrencies and other cryptoassets becoming more prevalent in the digital financial world,...
HMRC are currently writing to taxpayers who made a claim for one of the first three COVID-19 Self...
It is now a requirement that all UK trusts, whether taxable or non-taxable, must be registered with...
Over the last year we’ve learnt that corporation tax will increase in 2023, and that there will be...
The HMRC guidance has been recently updated to reflect the fact that employees can no longer be...
HM Revenue & Customs (HMRC) has confirmed that their new points-based penalty regime will come into...
The announcements by the Prime Minister of a 1.25% rise in National Insurance Contributions (NICs)...
Talking about money is never easy, especially when you’re a small business owner. But,...
Help to Grow: Digital is a new UK-wide scheme to help small and medium size businesses (SMEs) adopt...
As the result of recent increases in petrol and diesel prices HMRC have increased the advisory fuel...
Open until 31 March 2021, the Governments' Bounce Back Loan Scheme (BBLS) helped support businesses...
All business must start at some point, and a furnished holiday lettings (FHLs) business is no...
If you sell a property that has not been your main residence throughout the period that you have...
With everything that has been happening in the world over the last few months, and the shadow of...
As the country emerges from the Covid-19 pandemic, business travel is once again on the agenda....
Tax relief is available to encourage individuals to make contributions to registered private...
During the Covid-19 pandemic, HMRC paused much of their tax collection work, both to allow...
HMRC has confirmed that the applications platform for the fifth grant for Self Employment Income...
Under real time information (RTI), employers are required to report pay and deductions information...
For 2020/21 and later tax years, unincorporated property businesses are only able to obtain relief...
On 20 July 2021, the Treasury and HMRC issued a number of policy papers and consultations flagging...
Back in July 2020, the residential stamp duty land tax threshold in England and Northern Ireland...
It is not uncommon to realise a loss in the early years of a trade. However, traders who commenced...
The phrase ‘to walk a mile in someone else's shoes’ is often used as a passing idiom, a neat and...
With the fifth in the series just days away, the Self-Employed Income Support Scheme (SEISS) seems...
Family and personal companies are often ‘close’ companies. Broadly, this is one that is controlled...
A fifth SEISS grant was announced in the Budget on 3 March 2021, and will be made available over...
As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on...
Are you a sole trader? Thinking about switching to a limited company? What about VAT registration?...
During the Covid-19 pandemic, the advice was ‘work from home if you can’. As a result, millions of...
For personal and family companies, a tax efficient strategy for extracting profits is to take a...
Multiple dwellings relief’ (MDR) allows a rate to be charged at the percentage payable on the...
Dividends can only be declared out of a company’s available undistributed profits, and if the...
30 Jun 2021
Dividend waivers
Dividends are paid at the same rate for each category of share according to the number of shares...
HMRC has the power to enquire into any return and request any information to establish whether that...
Running a property business through a limited company rather than as an unincorporated business may...
Furnished holiday lettings offer a number of tax advantages over longer lets. One of the key...
Every small business understands the importance of having the right financial information at the...
Special rules apply to company directors when it comes to calculating their Class 1 National...
A PAYE Settlement Agreement (PSA) enables an employer to meet the tax on certain benefits and...
If you operate through a limited company, for example as a personal or family company, you will...
Are you an eCommerce seller with retail sales in the US? Chances are you’re thinking about indirect...
It’s that time of year again when P11D’s are due to be submitted by 6 July for each employee you’ve...
Expenses and benefits returns P11D and P11D(b) for 2020/21 need to be filed by 6 July 2021. Meeting...
Most landlords will need some sort of finance in order to invest in property to let out. However,...
From financial benefits to planning benefits, there are countless reasons why you should want your...
For capital gains tax purposes, there is a tax-free uplift to the market value at the date of...
The Employment Allowance is a National Insurance allowance that enables eligible employers to...
A 'Directors Loan Account' (DLA) is an account in the company’s financial books that records all...
Making Tax Digital, or ‘MTD’ for short, is an initiative taken by HMRC to digitise the tax...
To help meet some of the costs incurred in dealing with the Covid-19 pandemic, the Chancellor...
On cessation many directors find that monies have accumulated over the years which need to be...
Employers who provided taxable expenses and benefits to employees during the 2020/21 tax year will...
21 May 2021
Reduced rate of VAT
To help the hospitality and leisure industry recover from the impact of the first national...
When looking for an investment property, there are various decisions that need to be made. If the...
As lockdown restrictions are eased, businesses may need help to re-open and to recover from the...
Despite successive Governments changing the rules to increase the tax take, the provision of...
The Construction Industry Scheme (CIS) is a scheme whereby contractors of building firms are...
For limited companies, when it comes to making decisions, Company Law states shareholders who own...
Claims for the fourth Self Employed Income Support Scheme (SEISS) can now be made and must be...
The residence nil rate band (RNRB) is an additional nil rate band that is available for inheritance...
HMRC is aware of a phishing campaign telling customers they can claim for the fourth...
Stamp Duty Land Tax (SDLT) is payable where property is acquired in England and Northern Ireland....
The financial impact of the Covid-19 pandemic is unprecedented and borrowing levels in 2020/21 of...
The Self-Employment Income Support Scheme (SEISS) has provided grant support for self-employed...
All homeowners are subject to Stamp Duty Land Tax (SDLT), as well as potential Capital Gains Tax...
Many businesses have suffered losses as a result of the Covid-19 pandemic, and where a business has...
A popular profit extraction strategy for shareholders in personal and family companies is to pay a...
12 Apr 2021
Restart and Recovery
In his Spring Budget 2021, Chancellor Rishi Sunak announced two new funding opportunities for...
As a landlord, the lower the taxable profit from your property rental business, the less tax you...
Unlike a gain on the sale of a main residence, which qualifies for private residence relief (as...
In light of the outbreak of the pandemic in late March last year, HMRC announced an extension to...
As the 2020/21 tax year draws to a close, many employees will have spent much if not all of the...
The 2020/21 tax year starts on 6 April 2021. From that date, new thresholds apply for National...
Business interruption insurance provides cover for losses as a result of events that close or...
What to do from 6 April 2021 if you provide services through an intermediary Prior to 6 April 2021,...
4 Mar 2021
Spring Budget 2021
In his speech yesterday, Chancellor Rishi Sunak talked of recovery and building our future economy....
In July last year, the Government announced a temporary increase in the residential stamp duty land...
The benefits to selecting the right accountant If you’ve been a relatively small business making...
By law, there are various statutory payments that an employer must make to an employee while the...
"The appeal to us was their knowledge of e-commerce, and also the fact that they offered us the...
The portal for businesses to apply to spread their deferred VAT last summer is due to open on 23...
Changed business conditions in light of the Coronavirus pandemic have caused many companies to...
Pay As You Grow options, which allow borrowers to tailor repayments to suit their circumstances,...
The Covid-19 pandemic has hit the hospitality and leisure industry hard. Landlords with furnished...
If you’ve put employees on furlough during the pandemic, they’ll likely have a large amount of...
All taxpayers, regardless of the rate at which they pay tax, are entitled to a tax-free allowance...
For 2020/21, it was possible to enjoy an electric company car as a tax-free benefit. While this...
You may have heard of VAT domestic reverse charge (DRC) for the construction industry, which is new...
As part of the Chancellor's Coronavirus support package taxpayers were permitted to defer payment...
Still coming down from the high of a double win for Client Service and Digital Accounting Firm of...
R&D tax credits can be a valuable support mechanism for many SME’s, providing financial support to...
The guidance on how to pay VAT payments deferred between 20 March and 30 June 2020 has been updated...
Self assessment taxpayers will not receive a penalty for their late online tax return if they file...
A new scam is being reported, targeted specifically at taxpayers seeking to pay their tax due 31...
The Coronavirus Statutory Sick Pay Rebate Scheme allows smaller employers to reclaim some or all of...
Some taxpayers and advisers using the online service to defer tax due on 31 January 2021 are...
20 Jan 2021
Business rates update
The government is currently undertaking a fundamental review of the current business rates system,...
It’s so important, it bears repeating! It seems to be the word on many people's lips at the moment...
It’s fair to say that last year no-one could predict the Pandemic and the devastation we’ve...
The self-assessment tax return for 2019/20 must be filed by midnight on 31 January 2021. If you...
The Covid-19 pandemic has placed the office Christmas party firmly off the menu this year....
The Accounting Excellence Awards 2020 were targeted at recognising the ‘highs’ in the accounting...
There are new rules for businesses and citizens from 1 January 2021. There is guidance and a...
The government has now published its official guidance for the Coronavirus Job Retention Scheme,...
The self-employed income support scheme (SEISS) will be open for two further grants, the first of...
In a statement to the House of Commons earlier today (5 November), Chancellor Rishi Sunak set out...
This weekend was a spooky one, and for more than just one reason! Yes it was halloween, but the...
In recognition of the challenging times ahead, the Chancellor said he would be increasing support...
You now have until 30 November to apply for a Coronavirus Business Interruption Loan Scheme...
Over 50,000 taxpayers have used a new online portal to claim tax relief for working at home during...
A new hotline has been launched to report Covid fraudsters who make illegal claims for support.
Landlords should realise that HMRC will know about their lettings through Airbnb, so full...
The Chancellor is aiming to calm fears of a second spike by expanding the Job Support Scheme for...
HMRC has made it easier for self assessment taxpayers to pay the tax they owe incrementally on a...
Local Restrictions Support Grant (LRSG) supports businesses that have been required to close due to...
Today Chancellor Rishi Sunak announced his plans for over the winter period, to help support...
If you don’t have a separate HR system to manage employee information, sick leave, absences or...
Not everyone will have the freedom to choose what legal form their business can take. Depending on...
As an e-commerce business, you rely on efficiency, automation, and accurate information to help you...
Depending on how businesses and self-employed individuals prepare their accounts, there could be...
There are big changes on the horizon for all UK businesses, as the end of the Brexit transition...
You're worried about the possible implications of furlough fraud... What are the penalties, how can...
At the beginning of the month the Minister for Regional Growth and Local Government, Simon Clarke...
Online marketplace Amazon is to increase fees for UK sellers next month by 2%, in response to the...
You’re running a restaurant and will be registering for the Eat Out to Help Out Scheme, where you...
As the situation changes we'll be updating this page to keep you up to date with the latest...
If you’re looking to buy a new car, then you’ve probably also been looking at the option of...
Last week the government announced that it would introduce a temporary 5% reduced rate of VAT for...
Budgeting is one of those terms that can either get you excited for the future, or sound like a...
As predicted the Chancellor announced a number of packages to try and kick start the economy in his...
To support the self-employed during COVID, the government announced its SEISS scheme, providing...
Last week we shared a blog covering the main updates to the Coronavirus Job Retention Scheme as...
On Friday 29th May, the Chancellor, Rishi Sunak, announced more details about the extension to the...
At Inform, we’re always looking to find the positives in the face of uncertainty and adversity....
You may have heard stories of businesses seemingly going bust over night. Well, in the majority...
Choosing the right van for your business requires consideration of a lot of things; boot space,...
While some help is available to employers through the Coronavirus Job Retention scheme to help them...
Last month, the government announced its Self-employment Income Support Scheme to support the...
Times of crisis such as the one we are currently living through can be a real test, not just for...
Over the last week, the government has announced some new initiatives in an aim to provide...
We know that times are tough at the moment, and that your priorities have most likely changed. And...
It probably goes without saying that you and your business have been impacted by the effects of...
AMS mortgages are a specialist mortgage broker based in Birmingham. Having been with Inform...
Neate and pugh are a specialist employment and HR law firm based in the midlands. Across their 2...
13 Mar 2020
Budget 2020 News
Rishi Sunak received a “hospital pass” when he was appointed Chancellor and was required to deliver...
With the new Government's first budget due in just under a month (11 March), there has been...
Probe UK are midlands-based recruitment organisation specialising in the manufacturing sector. Over...
Since 2015, Broster Buchanan, a specialist professional recruitment consultancy, has grown to over...
21 Jan 2020
CGT Reliefs
Investors need to have a clear understanding of what tax reliefs are available to them prior to...
To paraphrase the classic saying; “new year, new Inform” - although in truth we haven’t changed...
By the time the end of the tax year swings round, a mad panic often ensues - with taxpayers keen to...
Always keen to keep our fingers on the pulse of the accounting industry, we’ve not long returned...
If you’re a director-owner of your own limited company though, you can pay yourself a regular...
At the risk of repeating ourselves, cashflow is king for every small business. You can have the...
Who remembers the banking crisis back in 2008? It seems an age ago, but we are still feeling the...
Most business owners already know the threshold for compulsory VAT registration is a taxable annual...
The ‘off-payroll’ working rules have been proposed to be extended to the private sector from April...
We all know how important it is to plan for retirement these days - and since the introduction of...
By now you’ve probably heard a number of terms floating around in the news and finance sector; open...
Britain is due to leave the EU on 31 October 2019, “no ifs or buts” according to Boris Johnson. So...
You might have read that new procedures were expected to be introduced on 1 October 2019, which...
Thanks to the likes of Amazon’s fulfilment programme, build-your-own website platforms and the...
Individuals who donate to charity can do so tax-free. There are various ways of making tax-relieved...
Whether your business is flush with cash or struggling to make ends meet, a 13-week cashflow...
In today’s challenging business environment, SMEs must seize every possible advantage to survive...
Within a family scenario, there are many situations in which one family member may make a gift to...
Today’s technology has made international business more accessible than ever. Armed with little...
With so much continued uncertainty around Brexit and what it might mean for international trade,...
If you’re a frequenter of coffee shops (and let’s face it, who isn’t these days?), you’ll be well...
Where income is mainly derived from savings, it is possible to enjoy tax-free savings income of up...
Under the self-assessment system, a taxpayer is required to make payments on account – advance...
After more than two years of back and forth with Brussels, time is very nearly up on the Brexit...
The deadline for filing the 2017/18 self-assessment tax return of 31 January 2019 has now passed....
Parents affected by the High-Income Child Benefit charge (HICBC) can be forgiven for thinking that...
Where a property is located in a holiday region, a consideration will be whether to let it as a...
A popular profits extraction strategy for personal and family companies is to extract a small...
If KPMG’s Small Business Accounting Team have been looking after your business accounts, you...
Premium Bonds (PBs) are an investment product issued and maintained by National Savings and...
As the end of the 2018/19 tax year approaches, it is worthwhile taking time for some last-minute...
The annual investment allowance (AIA) allows businesses to obtain an immediate deduction against...
Got that nagging feeling you’ve forgotten something important? It might just be your 2017/18 tax...
Another trip around the sun is complete and January is upon us once more - with the popular ‘New...
Open a store on the high street and your local ‘catchment area’ might extend a few miles. Sell...
First and foremost, a very Happy New Year from all the team here at Inform Accounting. We hope...
The season of giving is upon us once more, and lo and behold, at this time of year, even HMRC gets...
While all new retailers will put their heart and soul into sales and distribution, the returns...
The introduction of the residence nil rate band (RNRB) opens up the possibility of leaving the...
As one of the Midlands’ leading Xero partners, we were recently invited along to Xerocon London...
As a general rule, a deduction is allowed for expenses that are incurred wholly and exclusively for...
Although the tax legislation contains an exemption to prevent employees from suffering a...
With Xero, a simple experience is a beautiful experience. Xero are simplifying the navigation...
Originating in America, Black Friday has cemented itself as a British shopping staple. In more...
Recent reports in the press (October 2018), have highlighted the fact that HMRC has only fully...
Keeping you up-to-date on the Chancellor’s Autumn Budget announcements.
The cash basis simply takes account of money in and money out – there is no need to worry about...
Rent-a-room relief offers the opportunity to enjoy rental income of up to £7,500 tax-free from...
Managing Director, Sian Kelly, of Inform Accounting shares what businesses in the creative...
There are various reasons why you may have paid more tax than you needed to for a tax year. For...
The taxation of savings income can be complicated as there are various allowances and rates that...
The option to pay employees flat rate subsistence expenses tax-free can be an attractive one; the...
It is possible to make gifts during your lifetime free of Inheritance Tax (IHT), as long as you...
The High Income Child Benefit Charge is effectively a clawback of child benefit paid to ‘high...
The taxation of dividend income was reformed from 6 April 2016. Since that date, dividends are paid...
The VAT capital goods scheme affects input tax recovery in relation to high value capital assets by...
The introduction of GDPR has led to some major changes in the way businesses deal with personal...
Recent research has shown that over 40% of small-business owners are still not aware of Making Tax...
The tax system contains a limited exemption for Christmas parties and other annual functions, under...
Private residence relief (also known as main residence relief) takes the gain arising on the...
With the school summer holidays rapidly approaching, HM Revenue & Customs “(HMRC”) have issued a...
Voluntary National Insurance contributions can be paid to plug gaps in your contributions record....
Making Tax Digital (MTD) for VAT starts from 1 April 2019. VAT-registered businesses whose turnover...
Where an employer meets the cost of fuel for private journeys in a company car, an additional...
A business must register with HMRC for VAT if its VAT taxable turnover is more than the VAT...
Every year, more and more businesses are moving their accounts to the Cloud - and as the launch of...
A sharp rise in the number of scam emails and text messages targeting taxpayers has been flagged by...
After more than six weeks of uncertainty, the European Commission has approved the extension of the...
With two Royal weddings this year, and plenty of excitement around “the dress”, couples who are...
Unless you’ve been hiding in a cave for the last six months (or perhaps just haven’t noticed the...
Employees are often required to undertake business journeys by car, be it their own car or a...
HMRC do have Task Forces across the UK targeting cash businesses, and in particular those involved...
Where property is owned jointly by two or more people, the way in which any income is taxed will...
The move to Making Tax Digital (MTD) and digital tax accounts is fast approaching. But recent...
The pensions lifetime allowance places a cap on overall tax-relieved pension savings. Pension...
The new tax year means that many directors of family companies will be considering the most tax...
As well as the increased flexibility in terms of drawdown arrangements that were introduced in...
UK resident individuals who have offshore interests on which they have not paid the right amount of...
A brand new guidebook for accountants has just been released, featuring business advice and...
UK resident individuals who have offshore interests on which they have not paid the right amount of...
In preparation for the introduction of digital recording and reporting, landlords with...
There is no one answer to the amount of savings income and, for 2017/18, the answer can range from...
Whether you’re a small business, a big multi-national or a sole trader, the way in which you file...
By making the most of the rent-a-room relief and the £1,000 property income allowances, it is...
Business data is increasingly being stored online in the cloud. What does this mean for your...
To date, companies have been able to benefit from relief for inflationary gains in the form of...
Changes to the taxation of dividends have reduced the tax advantages associated with operating as a...
As the self-assessment deadline looms, it is not only necessary to consider what might be owing for...
The advent of Cloud technology has revolutionised numerous aspects of business, and the fields of...
Stamp duty land tax (SDLT) was the headline-grabbing measure in the Autumn Budget on 22 November...
Moderation in all things is the taxman’s motto when it comes to tax-free Christmas parties. The tax...
“BUILDING A BRITAIN FIT FOR THE FUTURE” This was the main theme of the Chancellor Phillip Hammond’s...
Last Wednesday the Inform Accounting team (under the incredibly inventive name ‘Cooking by...
Exciting times here at Inform - we’ve just completed the acquisition of fellow Sutton Coldfield...
Despite rising tax charges year on year, many people still enjoy the convenience offered by a...
If you have a holiday home and decide to let it out, you may be able to benefit from the slightly...
Main residence relief (private residence relief) protects homeowners from any gains arising on...
Dividends are a special case when it comes to tax and have their own rates and rules. The taxation...
Xerocon London 2017 was the 5th year Inform has attended Xero’s annual partner conference. As...
As well as helping you run your business finances on a day-to-day basis, Xero also provides a...
In most cases, employees will be able to claim back any expenses that they incur in doing their job...
We’re delighted to say we’ve just been shortlisted for the Small Practice of the Year 2017 award -...
Change is on the horizon – from April next year, the self-employed will only pay one Class of...
We’ve been a proud partner of Xero for a number of years now, helping our clients discover the huge...
A loan trust can be used as a vehicle to save inheritance tax, whilst retaining the ability to...
With rising property costs and low interest rates, many people took out a mortgage to invest in a...
Financial forecasts provide an insightful glimpse forward and are an essential tool for any...
An unincorporated business pays tax on what is known as the `current year basis’. This means that,...
The VAT flat rate scheme is a simplified VAT scheme, which allows small traders (turnover of...
The residence nil rate band (RNRB) is an additional nil rate band, which is available where a death...
Relief may be available where you operate your business through a company and you make a loss.
Following the Spring Budget, the National Insurance treatment of the self-employed hit the headlines
Capital gains tax is payable on net gains to the extent that they exceed the annual exempt amount.
Healthy cash flow is important for any business, but particularly for small business owners in...
The National Insurance employment allowance can reduce an employer’s National Insurance bill by up...
Company cars are a popular benefit and are often something of a status symbol. But, they have also...
The cash basis is an easier way for smaller businesses to work out their taxable profit. Under the...
Where a pension lump sum is taken, it is possible that too much tax may have been paid. Where this...
26 May 2017
The ISA Round Up 2017
Individual Savings Accounts (ISAs) offer an opportunity to build up tax-free savings income,...
The cash basis is an easier way for smaller businesses to work out their taxable profit. Under the...
12 May 2017
IHT estate returns
When someone dies, there are forms to fill in and send to HMRC. There are different forms and the...
From 6 April 2016 onwards, bank and building society interest has been paid gross without the...
The marriage allowance (not to be confused with the married couple’s allowance available where at...
Times were tough, so John decided he had to drop his prices below his competitors. The results...
Times were tough, so John decided he had to drop his prices below his competitors. The results...
The situation where a married couple or civil partners jointly own an investment property that they...
You've poured passion, time, and money into fulfilling a contract, have agreed on payment terms and...
The pensions annual allowance places a cap on tax relieved contributions, which can be made to a...
The start of the new financial year is the perfect time to dust off last year’s business plan and...
The mechanism by which landlords receive tax relief for interest and other finance costs is...
Like all employers, you need to comply with your duties under automatic enrolment – it’s the law....
Keeping you up-to-date on the Chancellor’s Spring Budget announcements.
On the 1st April 2017 we see an increase to the minimum wages. All employers need to prepare to...
A bank recently surveyed over 500 small business owners about what they love and hate most about...
There are various reasons why a PAYE overpayment may arise.This can happen simply because an error...
Mistakes happen and where a mistake has been made in your tax return it is possible to file an...
In his 2016 Budget speech, the Chancellor announced two new allowances would be introduced from...
It is possible for a business to set the full cost of a car against profits in the year of the...
As another year winds down, it’s a good time to reflect on your recent business successes – and...
Digital signing, versus the traditional "wet" signature, has become increasingly popular in recent...
Most benefits in kind are taxable and the employee is taxed on the cash equivalent of the value of...
Unlike tax, National Insurance is generally worked out separately by reference to the earnings for...
The VAT flat rate scheme is an optional simplified accounting scheme for small businesses. The...
Time consuming and expensive HMRC tax investigations are on the increase. You could be next...
Last Thursday night the Greater Birmingham Chambers of Commerce, Sutton Coldfield, Lichfield and...
Plans to introduce a new Lifetime ISA were unveiled in the 2016 Budget. The Lifetime ISA will be...
Changes were introduced with effect from April 2015, which provide those aged 55 plus with greater...
Hiring an accountant is widely considered best practice for small business owners. But delegating...
Investing in research and development can be a costly business with no guarantee of recovering the...
"Outsource your weaknesses." So says start-up guru, Sujan Patel, when advising small business...
Employers often provide employees with the use of a mobile phone and, structured correctly, they...
The deadline for filing the 2015/16 self-assessment online is 31 January 2017. It is important that...
While giving away assets and hoping to live for seven years afterwards can take them out of the...
Recent changes to the tax treatment of dividends may lead people to question whether it may be...
The Christmas party is an annual tradition for many companies, but the frivolities would be...
The old dispensation regime came to an end on 5 April 2016 to be replaced with a new statutory...
While working at home as a freelancer sounds like the ultimate dream for anyone who tires of the...
Philip Hammond delivered his 2016 Autumn Statement on 23 November and announced it will be the last...
Although most entrepreneurs recognise the importance of careful financial management, few want to...
Wondering if you're doing everything you can to boost revenue and cut costs? Or if your business is...
If you’re au fait with cloud accountancy platforms like Xero, you’re probably also familiar with...
The personal tax account is an online tax account for individuals. The personal tax account enables...
Many entrepreneurs believe that hard work and dogged determination are all it takes to build and...
The Government has been looking at the tax and National Insurance treatment of termination...
What is recurring revenue? It's the revenue you can depend on generating, year after year, with a...
Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your...
As we move closer to a digital age, HMRC have recently published proposals to extend the...
If you are an employee, you may spend your own money on things that are related to your job. Where...
It is sometimes mistakenly believed that you do not need to tell HMRC about payments that you...
For small business owners, book-keeping and accounting falls under the category of ‘necessary...
How to obtain financing is a common concern for new businesses and those preparing to scale....
How to obtain financing is a common concern for new businesses and those preparing to scale....
For income tax purposes, income from land or property in the UK which is owned by the same person...
If you’re like most small business owners, you spend the majority of your time managing daily...
If you’re like most small business owners, you spend the majority of your time managing daily...
Since 1 April 2016, higher rates of stamp duty land tax apply to purchases of second and subsequent...
While most people know that you do not have to pay capital gains tax on any profit you make on the...
At the time of the 2016 Budget, the then Chancellor, George Osborne, outlined details of a new...
Keeping on top of your cashflow means managing the money going out of your business every bit as...
Two months since the UK voted to leave the EU and the dust finally seems to be settling - but it’s...
Auto-enrolment for workplace pensions When it comes to workplace pensions, “we’re all in”. Or so...
For many small businesses, the prospect of getting new customers through the door dominates every...
It is possible to provide employees with tax-free benefits where the benefit is covered by an...
In his July 2015 Budget, the Chancellor dealt a blow to landlords with his announcement that from...
It is possible to provide employees with tax-free benefits where the benefit is covered by an...
A new set of rules applies to tax dividend income from 6 April 2016 onwards. Under the new rules,...
The 2015/16 tax year ended on 5 April 2016. If you have overpaid tax for that year, what do you...
Under a salary sacrifice arrangement the employee gives up part of his or her cash pay in return...
A new statutory exemption applies for trivial benefits from 6 April 2016. Trivial benefits are...
To most people, there’s not much to distinguish between a consultant, a contractor and a...
In family companies, many directors and shareholders maintain loan accounts with the company. As...
Until the end of the 2015/16 tax year, landlords letting furnished properties were able to claim an...
Individuals are able to make tax-relieved contributions to registered pension schemes to the higher...
Until the day we stop calling ourselves accountants and opt for a more glamorous title (all...
The new dividend tax regime came into effect from 6 April 2016. Gone is the dividend tax credit and...
On the back of the Panama papers came the rather unexciting news that the Prime Minister had...
Unless you’ve chosen a career path like ours, book-keeping probably isn’t your idea of a fun Friday...
Keeping on top of your cashflow means managing the money going out of your business every bit as...
In his 2016 Budget speech, the Chancellor announced two new allowances would be introduced from...
It can be very convenient for the director of a personal or family company to borrow money from the...
To make life simpler and remove the need to keep detailed records of actual expenses, businesses...
The Chancellor appears to have it in for landlords at the moment. There is the stamp duty land tax...
Have you downloaded the Inform Accounting app yet? Available free for iPhone and Android, it...
For 2015/16 and later tax years, the marriage allowance allows married couples and civil partners...
You might recall a recent blog post in which we highlighted ‘the difference between cashflow and...
Question: When is an allowance not an allowance? Answer: When it is the dividend allowance. The...
In big multinational corporations, the role of the Chief Financial Officer (CFO) is key. Indeed,...
For the uninitiated, a bank reconciliation is a process used to compare your books to your bank- to...
A benefit-in-kind tax charge arises when a company car is also available for private use. The...
Cash flow and profitability - two of the accountancy industry’s favourite phrases, and words you’ll...
Under the self-assessment system, an individual is required to make payments on account. These are...
Most people are aware of the existence of the capital gains tax exemption for their only or main...
When you’re looking to appoint a new accountant to look after your creative agency finances, does...
VAT. Three little letters, one big mystery to many a new business owner (and let’s be honest,...
In this blog we focus on tax changes announced in the March 2016 Budget and other measures taking...
Cars do not qualify for the annual investment allowance, but by choosing a low or zero emission car...
It is possible to escape inheritance tax on gifts by surviving for seven years after the date of...
Hosting your accounts in the cloud comes with the benefit of being able to track your finances from...
Business premises renovation allowance (BPRA) was introduced as an incentive to encourage...
From Xero to Receipt Bank to Vend, we do love a good accounting app. Indeed, anything that puts...
Many employees use their own car for work. If their employee does not pay a mileage allowance, or...
Some great news for us (and ultimately, for you too) – Inform Accounting has just become a Receipt...
Paying into a pension can be tax-efficient. Although there are no limits on the amount that you can...
Receipt Bank's, Alex Clarke sharing how Receipt Bank can save precious time, help automate your...
For any new start-up business, the statistics are ever such a little bit daunting. Most start-up...
In family and personal companies, directors may lend money to the company and they may also borrow...
Darren Glanville, Spotlight Reporting. Darren talks about the benefits of working with a firm of...
Xero’s Leigh Stallard demonstrates how Xero, the beautiful accounting software, works on your pc...
Tom Fox, Market Invoice. How are you funding and growing your business? Tom explains how Market...
For any new start-up business, the statistics are ever such a little bit daunting. Most start-up...
Xero’s Leigh Stallard demonstrates how Xero, the beautiful accounting software, works on your pc...
One of the Chancellor’s shock announcements of the 2015 Autumn Statement was that a new 3% SDLT...
Inform Accounting keeping you up to date with all the latest tax issues. DON’T LOSE YOUR PERSONAL...
Where an unincorporated business, such as a sole trader, suffers a trading loss, there are various...
Working in a creative agency, you’ve probably wondered on more than one occasion if you’re charging...
We’ve discussed the benefits of Xero’s online invoicing facility many a time in this blog. Now...
Business property relief is a very valuable relief that allows certain business assets to be passed...
Private residence relief means that there is no capital gains tax to pay if you sell a property you...
Once you’ve decided that cloud accounting is the way forward for your creative agency, it’s time to...
Changing accountants? The time is now… With most New Year’s resolutions failing by the time January...
Entrepreneurs’ relief is a very valuable relief that can significantly reduce the tax payable on...
The old adage states that if you want something done properly, you should do it yourself - but when...
The way in which dividends are taxed is changing from 6 April 2016. For basic rate taxpayers, the...
In the ever-changing world of hair and beauty, there are always decisions to be made. New...
The concept that you can sell your home without paying tax on any profit that you make is...
Using a cloud accounting platform like Xero means you can access your financial data anytime,...
Entrepreneurs’ relief is a very valuable relief that can significantly reduce the capital gains tax...
Management accounts bring all kinds of benefits to all kinds of businesses - and in particular,...
Don't miss the tax return deadline. Personal tax returns for the 2014/15 tax year (which ended on 5...
Many employees use their own vehicles for business journeys. Under the approved mileage allowance...
High earners may find that they lose their personal allowance. This may land them with an...
Managing a hair or beauty salon, you should be well used to investing in new modern treatments,...
Business asset rollover relief allows you to defer the capital gains tax payable where there is a...
The Chancellor delivered his Autumn Statement on 25 Novemebr 2015, in this blog we have highlighted...
The Chancellor delivered his Autumn Statement on 25 Novemebr 2015, in this blog we have highlighted...
Currently, a wear and tear allowance is available to landlords who let furnished residential...
We’ve put Xero’s invoicing capabilities under the spotlight on several occasions, showing you just...
24 Nov 2015
Dispensations RIP
Under the current rules, a dispensation is a useful tool as it saves work for both employers and...
At a creative agency, individuality is to be encouraged. After all, doing things your way is what...
Costs will almost always be incurred in setting up a business and getting it ready to trade. These...
This post is by Guy Earnshaw of BlueHub who are Cloud Consultants and Xero Integrators. They have a...
In determining the most tax-efficient way to extract cash from a family company, it is necessary to...
Running the financial side of a business isn’t easy. Let’s be honest, if it was - there probably...
Employers have a legal obligation to pay employees a wage that is at least equal to the National...
If you’re a regular visitor to our blog, you’ll know we’re always extolling the virtues of cloud...
THE NEW MAIN RESIDENCE NIL RATE BAND As widely anticipated, in his summer 2015 Budget, the...
With creative work revolving increasingly around the digital space, the projects you work on are...
Employees frequently use their own cars for business journeys and it is common for employers to pay...
We promised more blog posts for hair and beauty salon owners, so today we’re looking at the...
Working at a forward-thinking creative agency, there’s every chance you’re already using ‘the...
There is a common misconception among buy to let landlords – and some of their accountants – that...
With a number of our clients based in the hair and beauty industry, we think we’ve gained something...
By making use of exemptions, it is possible to provide employees with part of their remuneration...
In our first ‘Xero pointer’, we introduced you to the wonderful world of online invoicing - a...
For all the innovation, creative genius and daring design that underpins your creative agency,...
As more and more organisations turn to online accounting with Xero, managing your own business...
At Inform, we’re big believers in education. You’re never too busy, or too experienced to learn...
Getting your invoices paid on time is critical to the success of any business - so the first post...
Last week The Chancellor delivered his Summer 2015 Budget. In our blog we have focused on the tax...
On our blog last week, we looked at the importance of management accounts for creative businesses –...
Lately on the blog, we’ve been looking at ways in which creative companies can save time and money...
The creative mind isn’t always the most organised one. That’s why, in a creative business, you most...
29 May 2015
MAP Process
INTRODUCTION: Your “how to” blog post should teach the reader how to do something by breaking it...
29 May 2015
MAP Process
INTRODUCTION: Your “how to” blog post should teach the reader how to do something by breaking it...
Segways, astroturf and table-tennis tables - just a few of the quirky things that have caught our...
When you run a company in the creative industry, your profit depends entirely on the small...
Do you need to release some cash for your business? Do you need to raise some capital quickly? We,...
29 Apr 2015
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At Inform we are offering a new type of invoice financing.
The newest release of the Xero cloud accounting software shows multiple major pieces of new and...
Through Inform Only! Following their recent integration with Xero, iZettle are offering a free...