Accountancy and Bookkeeping for charities and small businesses
Rachel Eden Samun Omer, reflects on her experience undertaking an apprenticeship As I am approaching the end of my apprenticeship, I would like to describe my experience and how it has changed me. When I started the apprenticeship program I was a junior bookkeeper. My role was mainly associated with assisting the other senior bookkeepers in their … Read more
From the beginning of the next financial year Corporation Tax is going up for most companies from 19% to 25% of profits. However if your profit is below £250,000 special rules apply. Companies with taxable profit below £50,000 The tax on augmented profit will be 19% – this is the same as the current rate … Read more
As you were? Firstly some of what was in the Autumn Statement took us back to where we were before the summer. Corporation tax rises that had been cancelled in the ‘mini budget’ at the end of September are now going ahead. A small profits relief will avoid the impact on very small businesses, but … Read more
I’m not a fan of Black Friday (you can see why here), but one thing it has done this year is highlight the difficulty of pricing during high inflation. With general levels of inflation currently running around 10% this is an environment with higher inflation than many people have experienced. If you are working with … Read more
A number of our charity and small business clients have been in touch asking us to update them on the impact of the various changes from the government over the last couple of weeks. I have been holding off writing this, but it now appears that we have some clarity about the government’s policy, although … Read more
The new chancellor announced a large number of changes in his first ‘fiscal event’. Some of these will impact charities THe first change to come in will be the reverse of the increase in National Insurance rate from 6th November. Payroll providers and most software will be updated in time for November pay runs, but … Read more
Rachel Eden writes: There have been some important updates to the Charities Act New powers There are two key new powers that relate to financial payments from a charity. Firstly, there will be a new power that trustees can use to allow them to be paid for providing goods to a charity. Secondly there will … Read more
Over the last two years many people have been required to work from home. HMRC relaxed the rules around claiming the cost of this either via employers making an extra payment or an update to your tax code. Effectively, if you worked from home for a single ay during the 2020-2021 or 2021-2022 tax years … Read more
If you are a small business owner who wants to donate to charity you may be wondering whether it’s best to do it via your company or as an individual. Generally speaking we consider it is more efficient to give via your company. However, there are some caveats: Why donate to charity via your company? … Read more
When you work with an accountancy practice you are likely to need them to submit returns on your behalf whether it is payroll, VAT or Corporation Tax. You should not share your Gateway log in with them and while adding them as a ‘team member’ is a work around we have seen it is not … Read more