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28 Feb 2025
Invest tax efficiently
Tax efficient investment comes with varying risk profiles, from high to low. We look at both ends...
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...
Diving into self-employment and starting your own business is by no means an easy feat. With that...
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...
What do you really want from the New Year? As the calendar turns to 2024, we are all contemplating...
15 Aug 2023
Unincorporated businesses overlap relief
From 6 April 2024, all unincorporated businesses will be taxed on their profit or loss arising in...
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...
15 Mar 2023
Chancellor's Spring Budget 2023
The Chancellor announced his March budget today. Similar to the budgets, autumn statements and...
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...
New just in - the Bank of England has announced the largest increase in interest rates in 25 years,...
The talent shortage continues to place a burden on the economy. As companies struggle to find the...
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
Customer case study: eCommerce Retail
In 2018, a relatively small (but growing) ecommerce business approached Inform Accounting, after...
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...
HMRC have issued guidance for VAT-registered businesses and their agents on how to avoid penalties...
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...
You've probably heard the phrase Making Tax Digital (MTD) for VAT thrown around a lot over recent...
As many of our clients know, and if it isn't clear enough on from our website, we LOVE Xero cloud...
The HMRC guidance has been recently updated to reflect the fact that employees can no longer be...
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...
HMRC has confirmed that the applications platform for the fifth grant for Self Employment Income...
2 Aug 2021
RTI penalties and period of grace
Under real time information (RTI), employers are required to report pay and deductions information...
29 Jul 2021
Unrelieved interest on residential lets
For 2020/21 and later tax years, unincorporated property businesses are only able to obtain relief...
26 Jul 2021
Income taxes might be changing… keep in the know
On 20 July 2021, the Treasury and HMRC issued a number of policy papers and consultations flagging...
23 Jul 2021
New lower SDLT residential threshold
Back in July 2020, the residential stamp duty land tax threshold in England and Northern Ireland...
22 Jul 2021
Relief for losses in the early years of a trade
It is not uncommon to realise a loss in the early years of a trade. However, traders who commenced...
With the fifth in the series just days away, the Self-Employed Income Support Scheme (SEISS) seems...
19 Jul 2021
Tax relief on loans to close companies
Family and personal companies are often ‘close’ companies. Broadly, this is one that is controlled...
As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on...
During the Covid-19 pandemic, the advice was ‘work from home if you can’. As a result, millions of...
8 Jul 2021
Take dividends while you can
For personal and family companies, a tax efficient strategy for extracting profits is to take a...
5 Jul 2021
SDLT Multiple Dwellings relief
Multiple dwellings relief’ (MDR) allows a rate to be charged at the percentage payable on the...
1 Jul 2021
Tax consequences of 'illegal' dividends
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...
22 Jun 2021
Furnished Holiday Lettings
Furnished holiday lettings offer a number of tax advantages over longer lets. One of the key...
21 Jun 2021
NIC and company directors
Special rules apply to company directors when it comes to calculating their Class 1 National...
16 Jun 2021
Amend your PSA for Covid-19 related benefits
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...
14 Jun 2021
Penalties for late forms P11D
It’s that time of year again when P11D’s are due to be submitted by 6 July for each employee you’ve...
10 Jun 2021
Expenses and benefit returns for 2020/21
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...
1 Jun 2021
Directors' Loan Accounts
A 'Directors Loan Account' (DLA) is an account in the company’s financial books that records all...
31 May 2021
The MTD Timeline - know your responsibilities
Making Tax Digital, or ‘MTD’ for short, is an initiative taken by HMRC to digitise the tax...
28 May 2021
Freezing of allowances and thresholds
To help meet some of the costs incurred in dealing with the Covid-19 pandemic, the Chancellor...
27 May 2021
Distributions on company cessations
On cessation many directors find that monies have accumulated over the years which need to be...
25 May 2021
Reporting expenses and benefits for 2020/21
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...
19 May 2021
Buy-to-let or furnished holiday letting?
When looking for an investment property, there are various decisions that need to be made. If the...
17 May 2021
Restart Grants and Recovery Loans
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...
12 May 2021
CIS compliance for property developers
The Construction Industry Scheme (CIS) is a scheme whereby contractors of building firms are...
11 May 2021
Shareholder agreements
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...
6 May 2021
Beware Bogus HMRC Phishing Scams
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....
30 Apr 2021
Tax Allowances Frozen till April 2026
The financial impact of the Covid-19 pandemic is unprecedented and borrowing levels in 2020/21 of...
27 Apr 2021
Further Grants for Self- Employed
The Self-Employment Income Support Scheme (SEISS) has provided grant support for self-employed...
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...
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...
18 Mar 2021
National Insurance Contributions for 2021/22
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,...
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...
19 Feb 2021
Statutory payments from April 2021
By law, there are various statutory payments that an employer must make to an employee while the...
17 Feb 2021
Deferred VAT portal to open 23 February
The portal for businesses to apply to spread their deferred VAT last summer is due to open on 23...
16 Feb 2021
Legal v illegal dividends
Changed business conditions in light of the Coronavirus pandemic have caused many companies to...
11 Feb 2021
Renovating the holiday let during lockdown
The Covid-19 pandemic has hit the hospitality and leisure industry hard. Landlords with furnished...
All taxpayers, regardless of the rate at which they pay tax, are entitled to a tax-free allowance...
5 Feb 2021
Electric cars from April 2021
For 2020/21, it was possible to enjoy an electric company car as a tax-free benefit. While this...
3 Feb 2021
Time to Pay Arrangements with HMRC
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...
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...
25 Jan 2021
New HMRC scam targeted at taxpayers
A new scam is being reported, targeted specifically at taxpayers seeking to pay their tax due 31...
22 Jan 2021
Reclaiming SSP for periods of self-isolation
The Coronavirus Statutory Sick Pay Rebate Scheme allows smaller employers to reclaim some or all of...
21 Jan 2021
How to handle HMRC time to pay rejections
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,...
14 Jan 2021
Education… education… education
It’s so important, it bears repeating! It seems to be the word on many people's lips at the moment...
12 Jan 2021
What will 2021 have in store for us?
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...
30 Nov 2020
Are you ready for Brexit?
There are new rules for businesses and citizens from 1 January 2021. There is guidance and a...
16 Nov 2020
Five furlough changes you need to know
The government has now published its official guidance for the Coronavirus Job Retention Scheme,...
6 Nov 2020
SEISS grant to be 80% of average profits
The self-employed income support scheme (SEISS) will be open for two further grants, the first of...
5 Nov 2020
Furlough scheme and CBILS extended
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...
14 Oct 2020
Covid fraud hotline opens
A new hotline has been launched to report Covid fraudsters who make illegal claims for support.
13 Oct 2020
HMRC receives Airbnb letting data
Landlords should realise that HMRC will know about their lettings through Airbnb, so full...
12 Oct 2020
Sunak tweaks Job Support Scheme for second spike
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...
24 Sep 2020
The Chancellor announces his Winter Economy plan
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...
10 Sep 2020
Choosing the right structure for your business
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...
17 Aug 2020
The implications of furlough fraud
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...
23 Jul 2020
VAT and fuel costs on electric cars
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...
8 Jul 2020
COVID Mini Budget 2020
As predicted the Chancellor announced a number of packages to try and kick start the economy in his...
12 Jun 2020
Avoid the shock - SEISS grants ARE taxable
To support the self-employed during COVID, the government announced its SEISS scheme, providing...
10 Jun 2020
More updates to Coronavirus Job Retention Scheme
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...
21 May 2020
Tax charges on company vans
Choosing the right van for your business requires consideration of a lot of things; boot space,...
11 May 2020
Calculating statutory redundancy pay
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...
16 Apr 2020
Customer case study: AMS Mortgages
AMS mortgages are a specialist mortgage broker based in Birmingham. Having been with Inform...
24 Mar 2020
Customer case study: Neate & Pugh
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...
12 Feb 2020
Customer case study: Probe UK
Probe UK are midlands-based recruitment organisation specialising in the manufacturing sector. Over...
16 Jan 2020
Take a look around our new offices...
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...
14 Nov 2019
Paying yourself a salary: What are the most tax efficient options for limited company owners?
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...
24 Oct 2019
Get paid to switch your business bank account
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...
10 Sep 2019
How will a ‘No Deal’ Brexit affect EU trading?
Britain is due to leave the EU on 31 October 2019, “no ifs or buts” according to Boris Johnson. So...
9 Sep 2019
VAT rules are changing for builders - but good news, there’s a delay until 1 October 2020!
You might have read that new procedures were expected to be introduced on 1 October 2019, which...
25 Jun 2019
A guide to VAT for e-retail businesses
Thanks to the likes of Amazon’s fulfilment programme, build-your-own website platforms and the...
10 Jun 2019
Gift Aid- a quick guide
Individuals who donate to charity can do so tax-free. There are various ways of making tax-relieved...
10 Jun 2019
How to prepare a quarterly cashflow forecast (and why it’s essential for EVERY business)
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...
3 Jun 2019
Are gifts free of inheritance tax?
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...
9 Apr 2019
How to reduce your payments on account
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...
5 Mar 2019
Made a mistake? How to amend your tax return
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...
26 Feb 2019
Salary v dividend 2019/20
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...
19 Feb 2019
Tax-free investments using Premium Bonds
Premium Bonds (PBs) are an investment product issued and maintained by National Savings and...
5 Feb 2019
Year-end tax planning tips
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...
22 Jan 2019
Self Assessment deadline - the clock is ticking…
Got that nagging feeling you’ve forgotten something important? It might just be your 2017/18 tax...
15 Jan 2019
A fresh start for your finances: Why now is the perfect time to revisit your business plan…
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...
4 Dec 2018
Pass on your house free of IHT
The introduction of the residence nil rate band (RNRB) opens up the possibility of leaving the...
3 Dec 2018
Exciting new apps and MTD updates- here's what you need to know from Xerocon London 2018...
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...
19 Nov 2018
Is the Christmas party tax-free?
Although the tax legislation contains an exemption to prevent employees from suffering a...
13 Nov 2018
Xero gets a fresh face
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...
1 Nov 2018
Xero approved by HMRC for MTD
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.
23 Oct 2018
Cash basis for landlords- when does it apply?
The cash basis simply takes account of money in and money out – there is no need to worry about...
23 Oct 2018
Rent-a-room: New restrictions
Rent-a-room relief offers the opportunity to enjoy rental income of up to £7,500 tax-free from...
16 Oct 2018
Overpaid tax? How to claim it back
There are various reasons why you may have paid more tax than you needed to for a tax year. For...
9 Oct 2018
Savings Income- how is it taxed?
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...
17 Sep 2018
High Income Child Benefit Charge
The High Income Child Benefit Charge is effectively a clawback of child benefit paid to ‘high...
11 Sep 2018
Dividend income – How is it taxed in 2018/19?
The taxation of dividend income was reformed from 6 April 2016. Since that date, dividends are paid...
20 Aug 2018
VAT capital goods scheme
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...
16 Aug 2018
Making Tax Digital- Are you ready?
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...
13 Jun 2018
Free fuel- is it worthwhile?
Where an employer meets the cost of fuel for private journeys in a company car, an additional...
5 Jun 2018
Do we need to register for VAT?
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...
29 May 2018
Number of tax refund scams escalating
A sharp rise in the number of scam emails and text messages targeting taxpayers has been flagged by...
22 May 2018
European Commission- Extension to EMI Scheme
After more than six weeks of uncertainty, the European Commission has approved the extension of the...
18 May 2018
Top Ten Tips for Married Couples...
With two Royal weddings this year, and plenty of excitement around “the dress”, couples who are...
9 May 2018
It's almost here...are you ready for GDPR?
Unless you’ve been hiding in a cave for the last six months (or perhaps just haven’t noticed the...
9 May 2018
Mileage allowances- what is tax free?
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...
25 Apr 2018
Jointly owned property- how is income taxed?
Where property is owned jointly by two or more people, the way in which any income is taxed will...
24 Apr 2018
Being ready for Making Tax Digital
The move to Making Tax Digital (MTD) and digital tax accounts is fast approaching. But recent...
24 Apr 2018
Pensions- Protect your lifetime allowance
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...
14 Mar 2018
Requirement to Correct- The deadline is looming!
UK resident individuals who have offshore interests on which they have not paid the right amount of...
14 Mar 2018
Sian shares her experience in brand new book...
A brand new guidebook for accountants has just been released, featuring business advice and...
14 Mar 2018
Requirement to Correct- The deadline is looming!
UK resident individuals who have offshore interests on which they have not paid the right amount of...
7 Mar 2018
Mileage rates for landlords
In preparation for the introduction of digital recording and reporting, landlords with...
28 Feb 2018
Taxation of savings- what is tax-free?
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...
31 Jan 2018
Tax-free rental income up to £8,500
By making the most of the rent-a-room relief and the £1,000 property income allowances, it is...
31 Jan 2018
An introduction to cloud security
Business data is increasingly being stored online in the cloud. What does this mean for your...
24 Jan 2018
Corporate gains – end of indexation allowance
To date, companies have been able to benefit from relief for inflationary gains in the form of...
23 Jan 2018
Claim disincorporation relief while you can
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...
13 Dec 2017
SDLT- How much will you pay?
Stamp duty land tax (SDLT) was the headline-grabbing measure in the Autumn Budget on 22 November...
6 Dec 2017
Tax-free Christmas Parties
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...
14 Nov 2017
What's the benefit of an electric company car?
Despite rising tax charges year on year, many people still enjoy the convenience offered by a...
7 Nov 2017
Letting out your holiday home
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...
23 Oct 2017
Calculating your dividend tax bill
Dividends are a special case when it comes to tax and have their own rates and rules. The taxation...
11 Oct 2017
Xerocon London 2017 round-up and show highlights
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...
27 Sep 2017
Claiming tax relief for employment expenses
In most cases, employees will be able to claim back any expenses that they incur in doing their job...
20 Sep 2017
And the nominees are…
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...
19 Sep 2017
It’s official…we’re now a Xero Platinum Partner!
We’ve been a proud partner of Xero for a number of years now, helping our clients discover the huge...
12 Sep 2017
How can a loan trust save inheritance tax (IHT)?
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...
30 Aug 2017
A new start up business- what profits are taxed?
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.
14 Jul 2017
NI contributions for the self-employed
Following the Spring Budget, the National Insurance treatment of the self-employed hit the headlines
14 Jul 2017
A quick guide to Capital Gains Tax
Capital gains tax is payable on net gains to the extent that they exceed the annual exempt amount.
20 Jun 2017
How to set your small business payment terms
Healthy cash flow is important for any business, but particularly for small business owners in...
20 Jun 2017
Employment allowance- can you benefit?
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...
6 Jun 2017
Making Tax Digital- Voluntary pay as you go
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,...
26 May 2017
Making Tax Digital- Extending the cash basis
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...
11 Apr 2017
Can I claim marriage allowance?
The marriage allowance (not to be confused with the married couple’s allowance available where at...
11 Apr 2017
Pricing stories of small businesses
Times were tough, so John decided he had to drop his prices below his competitors. The results...
11 Apr 2017
Pricing stories of small businesses
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....
10 Mar 2017
Chancellor's Spring Budget 2017
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...
7 Mar 2017
Avoid These 5 Costly Accounting Mistakes
A bank recently surveyed over 500 small business owners about what they love and hate most about...
7 Mar 2017
Overpaid PAYE and how to get it back
There are various reasons why a PAYE overpayment may arise.This can happen simply because an error...
3 Mar 2017
Correcting mistakes in your tax return
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...
21 Feb 2017
First year allowances for cars
It is possible for a business to set the full cost of a car against profits in the year of the...
21 Feb 2017
Update your Business Plan for a New Year
As another year winds down, it’s a good time to reflect on your recent business successes – and...
14 Feb 2017
3 Advantages of Digital Signing for Businesses
Digital signing, versus the traditional "wet" signature, has become increasingly popular in recent...
14 Feb 2017
Are benefits in kind taxable?
Most benefits in kind are taxable and the employee is taxed on the cash equivalent of the value of...
10 Feb 2017
NIC and company directors
Unlike tax, National Insurance is generally worked out separately by reference to the earnings for...
7 Feb 2017
VAT Flat rate scheme – is it for me?
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...
24 Jan 2017
The new lifetime ISA- How does it work?
Plans to introduce a new Lifetime ISA were unveiled in the 2016 Budget. The Lifetime ISA will be...
24 Jan 2017
Unlocking your pension age 55 plus
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...
13 Jan 2017
Tax relief for research and development costs
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...
10 Jan 2017
Mobile phones- a tax-free benefit?
Employers often provide employees with the use of a mobile phone and, structured correctly, they...
10 Jan 2017
Avoid a penalty- File your tax return on time
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...
21 Dec 2016
Disincorporation relief
Recent changes to the tax treatment of dividends may lead people to question whether it may be...
16 Dec 2016
Keeping the Christmas party tax-free
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...
25 Nov 2016
10 Money-Saving tips for Freelancers
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...
27 Oct 2016
How to make the most of the personal tax account
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...
23 Oct 2016
What is changing with Termination Payments?
The Government has been looking at the tax and National Insurance treatment of termination...
19 Oct 2016
3 reasons recurring revenue is a good idea
What is recurring revenue? It's the revenue you can depend on generating, year after year, with a...
14 Oct 2016
5 Ways to Save Money for your Business
Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your...
11 Oct 2016
What is cash basis – is it for you?
As we move closer to a digital age, HMRC have recently published proposals to extend the...
4 Oct 2016
What can employees claim tax relief on?
If you are an employee, you may spend your own money on things that are related to your job. Where...
27 Sep 2016
Cash in hand – beware
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...
23 Sep 2016
Why won't banks lend to a business?
How to obtain financing is a common concern for new businesses and those preparing to scale....
23 Sep 2016
Why won't banks lend to a business?
How to obtain financing is a common concern for new businesses and those preparing to scale....
20 Sep 2016
Property losses – what can you do with them
For income tax purposes, income from land or property in the UK which is owned by the same person...
16 Sep 2016
Tips to Keep Your Business Finances in Order
If you’re like most small business owners, you spend the majority of your time managing daily...
16 Sep 2016
Tips to Keep Your Business Finances in Order
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...
23 Aug 2016
Xero Pointer #11- Integrating Paypal with Xero
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...
3 Aug 2016
Four ways to top up your turnover
For many small businesses, the prospect of getting new customers through the door dominates every...
3 Aug 2016
Ten tax-free benefits in kind
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...
3 Aug 2016
Ten tax-free benefits in kind
It is possible to provide employees with tax-free benefits where the benefit is covered by an...
2 Aug 2016
What are the dividend tax rules for 2016/17?
A new set of rules applies to tax dividend income from 6 April 2016 onwards. Under the new rules,...
29 Jul 2016
Overpaid tax last year- how to claim it back
The 2015/16 tax year ended on 5 April 2016. If you have overpaid tax for that year, what do you...
26 Jul 2016
Salary Sacrifice – still worthwhile?
Under a salary sacrifice arrangement the employee gives up part of his or her cash pay in return...
19 Jul 2016
A Trivial Matter- What is a trivial benefit?
A new statutory exemption applies for trivial benefits from 6 April 2016. Trivial benefits are...
19 Jul 2016
Contractor Expenses - An introduction
To most people, there’s not much to distinguish between a consultant, a contractor and a...
12 Jul 2016
Reclaiming tax once director's loan repaid
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...
21 Jun 2016
New Dividend taxation for 2016/17
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...
10 Jun 2016
Three ways to better book-keeping
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...
31 May 2016
Directors' loans- tax pitfalls
It can be very convenient for the director of a personal or family company to borrow money from the...
27 May 2016
Claim fixed rate deductions to save work
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...
20 May 2016
Mileage Expense Tracking with the Inform app
Have you downloaded the Inform Accounting app yet? Available free for iPhone and Android, it...
17 May 2016
Claiming marriage allowance – are you eligible?
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...
10 May 2016
New dividend allowance
Question: When is an allowance not an allowance? Answer: When it is the dividend allowance. The...
6 May 2016
A virtual CFO for your small business
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...
26 Apr 2016
Reducing your payments on account
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...
15 Apr 2016
VAT for business, explained
VAT. Three little letters, one big mystery to many a new business owner (and let’s be honest,...
15 Apr 2016
BUDGET APRIL 2016 TAX CHANGES
In this blog we focus on tax changes announced in the March 2016 Budget and other measures taking...
12 Apr 2016
100% capital allowance for low-emission cars
Cars do not qualify for the annual investment allowance, but by choosing a low or zero emission car...
8 Apr 2016
Giving your home away – beware the GWR rules
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...
29 Mar 2016
Business premises renovation allowance (BPRA)
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...
22 Mar 2016
Mileage allowance relief
Many employees use their own car for work. If their employee does not pay a mileage allowance, or...
18 Mar 2016
Receipt Bank Gold Partner
Some great news for us (and ultimately, for you too) – Inform Accounting has just become a Receipt...
15 Mar 2016
Tax relief for pension contributions
Paying into a pension can be tax-efficient. Although there are no limits on the amount that you can...
11 Mar 2016
Starting a successful business
For any new start-up business, the statistics are ever such a little bit daunting. Most start-up...
11 Mar 2016
Reclaiming section 455 tax
In family and personal companies, directors may lend money to the company and they may also borrow...
11 Mar 2016
Starting a successful business
For any new start-up business, the statistics are ever such a little bit daunting. Most start-up...
One of the Chancellor’s shock announcements of the 2015 Autumn Statement was that a new 3% SDLT...
4 Mar 2016
TAX PLANNING UPDATES MARCH 16
Inform Accounting keeping you up to date with all the latest tax issues. DON’T LOSE YOUR PERSONAL...
1 Mar 2016
Income tax relief for trading losses
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...
16 Feb 2016
PPR Flipping- Principle Primary Residence
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...
12 Feb 2016
Changing accountants? The time is now...
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...
26 Jan 2016
MAIN RESIDENCE RELIEF AND CAPITAL GAINS TAX
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,...
22 Jan 2016
Qualifying for Entrepreneur's relief
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,...
12 Jan 2016
Miss the tax return deadline at your peril!
Don't miss the tax return deadline. Personal tax returns for the 2014/15 tax year (which ended on 5...
5 Jan 2016
Tax-Free Mileage Payments
Many employees use their own vehicles for business journeys. Under the approved mileage allowance...
15 Dec 2015
Keeping the Personal 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,...
8 Dec 2015
DEFERRING CAPITAL GAINS TAX
Business asset rollover relief allows you to defer the capital gains tax payable where there is a...
4 Dec 2015
THE AUTUMN STATEMENT 2015- TAX
The Chancellor delivered his Autumn Statement on 25 Novemebr 2015, in this blog we have highlighted...
4 Dec 2015
THE AUTUMN STATEMENT 2015- TAX
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...
26 Nov 2015
XERO POINTERS #5 INVOICE REMINDERS
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...
24 Nov 2015
Creative agency margins: How do yours compare?
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...
10 Nov 2015
Extracting cash from a family company
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...
29 Oct 2015
XERO POINTER #4 Business Performance Review
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...
23 Oct 2015
The Top Financial KPIs for Creative Agencies
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...
1 Oct 2015
Six habits of highly successful salons
With a number of our clients based in the hair and beauty industry, we think we’ve gained something...
29 Sep 2015
Five Top Tax-Free Benefits
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...
12 Aug 2015
GET THE RIGHT EDUCATION; GROW YOUR 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...
14 Jul 2015
Summer Budget 2015 Tax Plans
Last week The Chancellor delivered his Summer 2015 Budget. In our blog we have focused on the tax...
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.
