24 Apr 2025
Claim a refund if you have overpaid tax
There are various reasons why tax may be overpaid, and when more tax has been paid than is due, it...
Explore more
Topic:
All
17 Apr 2025
Starting a business as a sole trader
When starting a business, there are various decisions to make and tasks to perform. One of the...
With recent increases in National Insurance (NI) contributions, salary sacrifice schemes have...
For many years the most tax-efficient method of withdrawing monies from a company by a sole...
10 Apr 2025
Local charity provides free first aid courses
Would you know what to do if someone collapsed from cardiac arrest in front of you? Keen to...
4 Apr 2025
What is VAT flat rate scheme?
The VAT flat rate scheme is a simplified flat rate scheme which can be used by smaller businesses...
On April 2, 2025, U.S. President Donald Trump announced the imposition of a 10% tariff on all...
27 Mar 2025
Spring Budget 2025 - no significant tax changes
Chancellor Rachel Reeves' Spring Statement of March 26, 2025, addressed the UK's economic...
27 Mar 2025
Boost Your Pension and Reduce Corporation Tax
Running your own business comes with plenty of perks, but did you know that paying pensions through...
In short, a P11D form allows you to inform HMRC of any benefits you’ve given to employees outside...
Benefits in kind (BIK) are goods and services provided to an employee (or a member of their family...
13 Mar 2025
Using the VAT flat rate scheme
The VAT flat rate scheme is a simplified flat rate scheme which can be used by smaller businesses...
At Inform Accounting, we believe in giving back to the community and supporting causes that make a...
If you are self-employed, you will pay tax on your taxable profit. In working out your taxable...
28 Feb 2025
Invest tax efficiently
Tax efficient investment comes with varying risk profiles, from high to low. We look at both ends...
High Income Child Benefit Charge Income thresholds for the High Income Child Benefit Charge (HICBC)...
20 Feb 2025
Plan for tax efficient business motoring
Planning for the cost of business motoring is always important. We look here at the change to the...
17 Feb 2025
Dealing with directors’ loan accounts
What are directors’ loan accounts? It is common for director-shareholders in family companies to...
13 Feb 2025
Managing new employer National Insurance rules
Autumn Budget 2024 announced sweeping changes to the National Insurance regime for employers from 6...
12 Feb 2025
Is it worth paying voluntary Class 3 NICs?
The payment of National Insurance contributions is linked to entitlement to the state pension. If...
24 Jan 2025
12 Accounting Tips this Christmas
As the holiday season approaches, businesses are not just decking the halls - they’re also closing...
If you are self-employed, you will pay tax on your taxable profit. In working out your taxable...
The Annual Investment Allowance (AIA) is a valuable tax incentive in the UK designed to encourage...
1 Nov 2024
Budget to increase taxes by £40bn
After a damning verdict on the inheritance of the public finances from the previous conservative...
1 Nov 2024
Be careful - Winter Fuel Payment scam
We have been made aware of the start of criminal activity using both text messages and emails to...
22 Oct 2024
What will the Budget bring?
With the Budget coming on 30th October, speculation is increasing on what changes will be...
Electric cars are increasingly popular, not just for their environmental benefits, but also for...
One of the most pressing topics in UK business and accounting is the anticipated tax rises in the...
As National Payroll Week rolls around, it’s time to pause and celebrate the incredible work of our...
28 Aug 2024
Telling HMRC you have no Corporation Tax to pay
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...
28 Aug 2024
Budgeting for New Hires: A Step-by-Step Guide
Are you gearing up to bring new talent on board? Don't let the complexity of budgeting for new...
Invoicing is a critical part of running any business, but it’s also one of the most tedious. The...
24 Jun 2024
Understanding your tax code
Tax codes are fundamental to the operation of PAYE. If your tax code is correct, you should pay the...
29 May 2024
Navigating HMRC Scam Letters: How to Spot a Fake
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...
30 Apr 2024
Check your National Insurance record
Paying National Insurance contributions allows individuals to earn qualifying years, which in turn...
25 Apr 2024
Selling online – When do you need to tell HMRC?
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...
27 Feb 2024
Year End Tax Planning Guide
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...
8 Feb 2024
Voluntary disclosure
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,...
29 Jan 2024
Registering with the Tax Authorities
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...
18 Jan 2024
Relief for post-cessation expenses
The end of a business will not necessarily mean that no further expenses are incurred. Where...
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...
9 Jan 2024
The implications of late VAT registration
VAT registration is compulsory for any UK established persons who are in business and make or...
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...
4 Jan 2024
Unlocking eCommerce Excellence: A Comprehensive Guide to Shopify's Features and Functionality
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...
28 Nov 2023
Reporting residential property gains
If you make a chargeable gain on the sale of a UK residential property, you will need to report the...
23 Nov 2023
Simplified sales accounting with Dext Commerce
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...
20 Nov 2023
Wise - Money without borders
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...
9 Nov 2023
Business Loans - simplified with IWOCA
Inform Accounting are proud to partner with iwoca, a specialist small business lender who have...
9 Nov 2023
Funding support from Funding Circle
We’re proud to partner with Funding Circle to provide a funding solution for our clients. We know...
31 Oct 2023
Self-serve Time to Pay for VAT
For some time, taxpayers within Self Assessment have been able to set up a Time to Pay arrangement...
31 Oct 2023
Dext Prepare - Business finances, made easy
You’re in business to do business, not paperwork. Dext is the business expense tracker that tracks,...
26 Oct 2023
Claiming overlap relief
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...
19 Oct 2023
10 deductible expenses
If you let out a property, you can deduct the business expenses that you incur when working out...
17 Oct 2023
Do we need to register the business for VAT?
If you make VATable supplies, you will need to register for VAT if your taxable turnover reaches...
13 Oct 2023
Should I file my tax return early?
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...
3 Oct 2023
How to appeal a tax penalty
There are various reasons why HMRC may issue a tax penalty. You may receive a penalty if you file...
29 Sep 2023
Autumn Statement date set for 22 November
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...
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...
29 Aug 2023
Minimum wage rates increase from 1 April 2023
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,...
15 Aug 2023
Unincorporated businesses overlap relief
From 6 April 2024, all unincorporated businesses will be taxed on their profit or loss arising in...
14 Aug 2023
Introducing our partner business, Neate & Pugh
Neate & Pugh are a niche employment law and HR solutions firm, set up by Ann-Marie Pugh and Emma...
14 Aug 2023
Modulr - taking the pain out of manual payments
We wanted to tell you about our new payment service that is taking away the manual headache of...
8 Aug 2023
HOW creative agencies can make more profit
Managing Director, Sian Kelly, of Inform Accounting shares what businesses in the creative...
7 Aug 2023
Beware Bogus HMRC Phishing Scams
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...
27 Jun 2023
Beware the new VAT late submission penalties
A new penalty regime was introduced for VAT from 1 January 2023. The new regime comprises late...
19 Apr 2023
Managing inheritance tax
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...
11 Apr 2023
Rates and thresholds for employers 2023 to 2024
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...
15 Mar 2023
Chancellor's Spring Budget 2023
The Chancellor announced his March budget today. Similar to the budgets, autumn statements and...
13 Mar 2023
What can we expect from the Budget on Wednesday?
Chancellor Jeremy Hunt has made it clear that he does not have room for big tax giveaways on March...
7 Mar 2023
New VAT penalties and interest payments
The new penalties will impact businesses who submit their VAT returns or pay their VAT late. The...
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...
23 Jan 2023
Statutory Pay Rates from April 2023
The UK Government has published the proposed statutory rates for maternity pay, paternity pay,...
23 Jan 2023
Ban on single-use plastics in England
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...
12 Jan 2023
Receive and make payments faster with Crezco
We’re really excited to be partnering with an award-winning payment solution, Crezco. Winner of...
10 Jan 2023
Filling historic gaps in National Insurance (NI) records comes to an end on 5 April 2023
The ability to fill historic gaps in National Insurance (NI) records to top up your state pension...
9 Jan 2023
Government extends Mortgage Guarantee Scheme
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...
4 Jan 2023
A Guide to VAT on Commercial Properties
Understanding VAT rules can be complicated at the best of times, so it’s no surprise that there’s...
12 Dec 2022
Tax Free Christmas Gifts To Staff
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...
28 Nov 2022
“Off-payroll” working rules continue to apply
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...
24 Nov 2022
Old-style stamps will soon be out of date
Royal Mail are adding barcodes to their regular stamps. After 31 January 2023, regular stamps...
18 Nov 2022
Chancellor's Autumn Statement...
The Chancellor announced his Autumn Statement yesterday. We already knew that he was going to raise...
14 Nov 2022
What to expect on Thursday....
Jeremy Hunt is scheduled to deliver his first Autumn Statement on Thursday (17 November). Reports...
14 Nov 2022
Own a Buy to Let? Then read on...
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,...
20 Sep 2022
New beginnings in uncertain times
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....
25 Jul 2022
Tax-efficient finance for your company
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...
30 Jun 2022
Should I change my accounting date?
In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024...
28 Jun 2022
Deferring capital gains tax on a business asset
The potential to be charged capital gains tax (CGT) arises with the sale or gift of an asset....
28 Jun 2022
Preserving the personal allowance
The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from...
28 Jun 2022
Customer case study: Haig & Co
Haig & Co is an accountancy and finance recruitment firm based in Birmingham founded almost six...
28 Jun 2022
Making payroll work for you
One of the worries we often hear from businesses looking to outsource their payroll to an...
28 Jun 2022
COVID-19 economic support packages
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...
28 Jun 2022
What is the best use of your time in January?
We encourage all clients to consider taking time to prepare a 2022 Strategic plan. “A sailor...
28 Jun 2022
Customer case study: eCommerce Retail
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...
28 Jun 2022
Giving away money free of IHT
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...
31 May 2022
Advisory fuel rate for company cars
Unbelievably there were very few changes to the HMRC advisory fuel rates from 1 March 2022, which...
24 May 2022
New internet phishing alert!
New emails and letters appearing to be from employees of the Government Legal Department / Bona...
24 May 2022
The Recovery Loan Scheme is ending soon
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....
28 Apr 2022
Relief for rental losses
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....
26 Apr 2022
VAT flat rate scheme – is it worthwhile?
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...
29 Mar 2022
Should you pay a dividend before 6 April 2022?
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...
24 Mar 2022
The Ups and Downs of the Spring Statement 2022
The Chancellor of the Exchequer, Rishi Sunak, delivered his Spring Statement on Wednesday 23 March...
17 Mar 2022
Using your annual exempt amount for 2021/22
All individuals are entitled to an annual exempt amount for capital gains tax purposes. Net gains...
14 Mar 2022
Tax relief for pre-trading expenses
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...
3 Mar 2022
New advisory fuel rates published by HMRC
New advisory fuel rates for company car drivers have been published by HMRC, which are to be...
3 Mar 2022
New advisory fuel rates published by HMRC
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...
16 Feb 2022
Tax Rates and Allowances - 2022/23
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...
10 Jan 2022
Income from savings – What is tax-free
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...
7 Jan 2022
Struggling to pay tax – What should you do?
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...
4 Jan 2022
Taxing cryptoassets: what you need to know
With crytocurrencies and other cryptoassets becoming more prevalent in the digital financial world,...
5 Nov 2021
HMRC say ‘play or repay’ on SEISS grants
HMRC are currently writing to taxpayers who made a claim for one of the first three COVID-19 Self...
5 Nov 2021
Registering your trust with HMRC
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,...
1 Sep 2021
Help to Grow: Digital
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...
23 Aug 2021
New furnished holiday lets – Applying the test
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...
20 Aug 2021
'Thank you all very much' - Cazper's Hair Studio
With everything that has been happening in the world over the last few months, and the shadow of...
17 Aug 2021
Making mileage payments to employees
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...
4 Aug 2021
Collection of tax debts post Covid-19
During the Covid-19 pandemic, HMRC paused much of their tax collection work, both to allow...
It’s a great place to work
At Inform Accounting, what we do is about so much more than making money and helping our clients manage theirs.
