Category: Regulatory
Staff vs Client Lunch: Your HMRC Tax Claims Explained
There’s no such thing as a free lunch. Well, there could be, but it depends on the details. Many business owners make the mistake of thinking all staff and client lunches can be recorded as an allowable expense claim with HMRC. Unfortunately, it’s not that simple. HMRC rules focus on whether your meal expenses serve "wholly and ...
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Inside or Outside IR35? Crack HMRC’s Rules with This Checklist
Over the past few years, IR35 has been a hot topic. The private sector underwent a major change in April 2021. Medium and large-sized businesses, not contractors, now determine IR35 status. This has created extra complexity. Recruitment agencies face this challenge more acutely, as they could receive hefty tax bills when end clients make ...
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Accounting Mistakes That Cost Small Businesses Big
Small businesses can face devastating financial consequences from accounting mistakes that often go undetected until serious issues arise. These problems usually surface when tax bills arrive, deadlines pass, or funding applications need review. Poor cash flow management can get pricey and create tax complications. In extreme cases, it mi...
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PAYE Settlement Agreements Explained: Save Time and Money on Employee Benefits
Would you like to reduce your tax obligations whilst increasing benefits to your employees? If that appeals, then PAYE settlement agreements could be something of interest. PAYE settlement agreements let you make one annual payment to HMRC. This eliminates the need to process multiple employee benefits through payroll or P11D forms. Yo...
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Contract Law UK: Your Informal Communications Could Be Legally Binding
Are you aware your casual WhatsApp messages and emails might create legally binding agreements? Did you know that UK contract law allows informal communications to establish enforceable contracts. In fact, the Court of Appeal showed this in a notable case. A binding contract emerged from email exchanges, WhatsApp messages, and phone ca...
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Business Legal Services: Essential Protection Your Company Shouldn’t Ignore
Your company needs proper business legal services to stay protected. Small startups and large enterprises alike face challenges in the legal world without expert guidance. People often think legal services are there to help manage crises, but good legal support should ensure you don’t find yourself in that position to start with. The...
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Making Tax Digital
Making tax digital – current requirements All vat registered businesses with a taxable turnover above the vat threshold of £85,000 are now required to follow the mtd rules. This means: They must keep digital records They must make more frequent submissions (quarterly) They must use software to make submissions to hmrc e....
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Company Secretary
Hasn’t that role gone? Do we need one of those? For many companies particularly those created after April 2008, the requirement for a company secretary was removed. However, that does not necessarily mean the functions usually associated with the role have disappeared. What would a company secretary do? The main functions include:...
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Directors Duties
Many directors when appointed just want to get on with the business of running their company. They want to be creative and entrepreneurial. However, directors are responsible for the day to day management of their company. They are therefore subject to a number of checks and balances particularly those contained in legislation and whilst ...
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Employment Contracts
Written statements and Employment Contracts When a new employee starts a written statement of particulars of employment (Written Statement) must be provided to an employee. What must be included within the Written Statement? The Written Statement must contain the following information: Names of the employer and employee. The da...
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