Business

J is for Joint ownership!

J is for Joint ownership!

J is for Joint ownership! – A to Z Accountancy Top Tips If you are married, you often own assets jointly as a couple and therefore split the income or gains. If you don’t then it may be beneficial for tax purposes to consider transferring, so they are jointly owned. This does need to be …

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H is for Home Office

H is for Home Office

H is for Home Office – A to Z Accountancy Top Tips This is such a big topic this year for obvious reasons. Working from home looks likely to continue for some time, so what can you claim? There is tax relief for working from home for employees, directors and self-employed. Employees If you must …

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G is for Gift Aid

G is for Gift Aid

G is for Gift Aid – A to Z Accountancy Top Tips If you are a higher rate taxpayer then there are various tax reliefs you may be entitled to.  If you make charitable donations with Gift Aid, then you may be able to reduce your tax bill!  What is Gift Aid? Gift Aid is …

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F is for Fixed Assets

F is for Fixed Assets

F is for Fixed Assets – A to Z Accountancy Top Tips Nearly all businesses will have fixed assets, but you may not realise what the fixed assets are in your business. What is a fixed asset? A Fixed Asset is something that a business: gets with the intention of keeping for a long-term period …

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I is for incorporation

I is for Incorporation

I is for Incorporation – A to Z Accountancy Top Tips Whether an existing sole trader or new start up, clients often ask if they should incorporate their business. To incorporate a business means that a new or existing business registers as a limited company at Companies House. It is not compulsory to be a …

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E is for Entertaining

E is for Entertaining

E is for Entertaining – A to Z Accountancy Top Tips An accountant walks into a bar and another customer says, ‘Don’t worry I’ll get this, I’ll just put it through as a business meeting’. Okay, sorry, there is no funny punchline the accountant just rolls their eyes and shouts ‘Nooo’ in their head. Business …

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D is for Dividends

D is for Dividends

D is for Dividends – A to Z Accountancy Top Tips If you are a shareholder of your own company, you may be able to extract profits as dividends. A dividend is a payment a company can make to shareholders if it has made a profit and has enough reserves. To pay a dividend you …

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C is for Cashflow

C is for Cashflow

C is for Cashflow – A to Z Accountancy Top Tips Why does everyone keeping banging on about cashflows and what does it mean? Cashflow is the total money going in and out of a business in a certain period. A cashflow forecast is the plan for the total money going in and out of …

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B is for Business Bank

B is for Business Bank

B is for Business Bank – A to Z Accountancy Top Tips This discussion crops up so often with business owners asking do I need a separate bank account for my business?If you are running a limited company, then yes, it is a separate legal entity and it needs a bank account to be set …

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