National Insurance & dividend tax rise
Editor | 8 September 2021
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The Government hopes the tax rises will tackle the current backlog in the NHS, and contribute to wider social care, including disease prevention and the cost of care homes.
April 2022 will see an increase in National Insurance contributions for employers, employees and the self-employed.

We are delighted to welcome our new Practice Manager - Muhammad Dar

We are delighted to welcome Muhammad Dar, FCCA, to the CloudAccountant and Agency Accountant team as our new Practice Manager.

Muhammad is a Fellow Member of Chartered Certified Accountants. In addition to holding a BSc (Hons) Degree in Applied Accounting, Muhammad is also a Fellow Member of the Association of Accounting Technicians.

What is a HMRC compliance check?

Fretting about an HMRC compliance check? This mini guide will tell you everything you need to know.

Days left to join VAT Deferral New Payment Scheme

Businesses that joined the deferred VAT payments scheme last year, have until 21 June 2021 to join a new payment scheme that will allow them to spread the cost of deferred VAT.

The new online system will allow businesses to pay their VAT In monthly instalments under the VAT Deferral New Payment Scheme.

Meet Dext Prepare, Your New Receipt Bank
Editor | 14 May 2021
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Formerly known as Receipt Bank, Dext Prepare is one of the most popular software systems for tracking cash-flow.

Have you got envelopes or filing cabinets overflowing with random receipts? Do you spend more than a few hours on financial admin each week? Does thinking about expenses and cash-flow fill you with anxiety?

If you answered yes to any of these questions then Dext Prepare could be the perfect solution to capturing, tracking and saving receipts, helping you get on top of your finances.

What is a Director’s loan account and what are the tax implications?

Directors can borrow money from their business as long as it is in line with the company’s articles of association, the 2006 Companies Act and - for large loans - approved by a shareholder’s vote.

However, the implications of taking out a Director’s loan can be complicated, especially if borrowed money isn’t repaid promptly.

Tell HMRC if you’re registered for the VAT Import One Stop Shop in the EU

If you sell low value goods in consignments not exceeding £135 in value into Northern Ireland and you are registered for the VAT Import One Stop Shop (IOSS) in the EU, you must tell HMRC your IOSS registration number.

Final opportunity to apply for £2,000 import-export grant
Editor | 30 June 2021
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The deadline to apply for a £2,000 grant to support small and medium-sized businesses that want to start importing and exporting is on 30 June.

The SME Brexit Support Fund is open to businesses with up to 500 employees and no more than £100 million annual turnover.

Use automatic invoice reminders to get paid faster with Xero

Waiting to get paid is one of the most frustrating things about running a small or medium-sized business.

A study by the Federation of Small Businesses (FSB) found that UK small businesses are owed an average of £6,142 - mostly by larger firms.

Sometimes, raising and chasing invoices can feel like a full-time job in itself, even if you’re using time-saving software like Xero.

If you’re struggling with late payments or you want to spend less time on the monthly financial admin, using automatic invoice reminders could help.

Could this loan scheme help your business grow out of Covid?

Launched on 6 April 2021, the Recovery Loan Scheme has been set up to support access to finance for businesses as they grow and recover following the coronavirus pandemic.

The scheme is open to any business that has been affected by the pandemic and the money can be used for any legitimate business purpose, including managing cashflow.

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