XERO: Understand how to reconcile expenses paid via Cash or a Personal Card

This article will address one of the most frequently asked questions we hear from our clients: How do I reconcile business expenses paid for with cash or a personal card?

We’ll show you a step-by-step of how to get your Xero portal up to date.

October 2021 Budget Highlights

Yesterday the Chancellor of the Exchequer, Rishi Sunak announced the Autumn budget in the Commons. The budget put a huge focus on rises in Government spending across all Departments. To save you time, we’ve picked out the elements that will affect you as a business owner. Learn what’s changing below.

The difference between tax avoidance and tax evasion

As the famous saying goes, there are only 2 things that are certain in life, and one of those is taxes.

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 taxes do I need to pay and when are they due?

Paying taxes is no one’s idea of fun, but they’re a part of life that can’t be avoided. There are even more taxes to consider when you’re a business owner. This article will explain what the most common taxes are, how they’re worked out and when they’re due. This will give you the knowledge to better manage your cash flow and save for tax payments.

How to switch from sole trader to limited company

Many sole traders think that they need to set up a limited company to take their business to the next level.

This isn’t always true. Deciding whether to set up a limited company should be a matter of personal preference, but there are some key advantages to going limited.

What are the benefits of cloud accounting?

Every successful business has solid financial foundations.

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.

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