Guide to Tax Relief for Festive Gifts and Christmas Parties

‘Tis the season of giving! We’ve put together this handy guide to explain what tax relief you can receive when you gift employees, clients and charities this festive season.

You may want to thank your employees for their hard work, throw a virtual staff party or give a gift to a client.

It’s important to understand what can and cannot be claimed through the expenses of your Limited company, so as not to overspend and potentially avoid all tax relief.

Maximise online sales this Black Friday
Editor | 23 November 2020
/ / / /

Originally conceived in the United States, Black Friday has grown to become a shopping event right here in the UK.
Less than a month before Christmas, the shopping day is traditionally a bargain hunter’s dream come true. Recent years have seen hordes of shoppers crushing into supermarkets and department stores, racing to get their hands on a hot new gadget or flatscreen TV.

5 small business accounting mistakes to avoid if you want to succeed

Mixing personal and business bank accounts: You pop to the shops for office stationery and end up buying a couple of bits for home whilst you are there.
Directors of small businesses are often guilty of mixing their personal finances and business accounts. If you have a limited company, it’s actually a legal requirement to have a separate account, but more than 25% of small businesses don’t have a separate business bank account and this can make it really difficult to track exactly how much money is coming in and out of the business and could result in taxable expenses being omitted or incorrectly categorized. It can also cause issues when applying for a business loan, as lenders will need a detailed and accurate view of the business accounts. If you are someone who blurs the boundaries between personal and business money, break the habit! Get a separate business bank account and you will save hours’ worth of headaches down the line.

Employers guide to the new Coronavirus Job Support Scheme

Many business leaders welcomed the Chancellor’s recent statement where he spelled out the Government’s latest plans to support the economy through the coronavirus crisis. The headline announcement was a new Job Support Scheme that will follow the closure of the furlough scheme.

Rishi Sunak said that the new scheme would “support only viable jobs”. Some business leaders complained that it would not be enough to prevent widespread job losses, particularly in hard hit industries like hospitality and tourism.
To help employers make the most of the new scheme, we have answered some of your most important questions below.

Five tips for starting a business during the coronavirus pandemic

With health concerns still prevalent and the economy looking shaky, it might not seem like the ideal time to start a new business.
Along with the uncertainty, however, has come lots of new opportunities. And many brave souls have used the outbreak to plan new ventures and have started working for themselves.
Here are five tips to help get your new business off the ground.

Two-minute self-assessment guide

If you’re a sole trader, a partner in a business partnership, a limited Company Director or Shareholder or have other untaxed income, you may need to complete an online self-assessment tax return (and pay what you owe) by 31 January 2021.

FreeAgent Launches New Features to Help You Get Paid Faster

Accounting software makers FreeAgent has launched a trio of new features, making it even easier for self-employed workers and small business owners to get paid faster.
Late payments are a scourge on the self-employed and small business community. Research from Bacs* suggests that late payers cost SMEs up to £23.4bn every year, which is not to mention the unnecessary stress and anxiety caused to millions of the UK’s smallest businesses.

Small businesses blocked out of bounce back loans scheme

Small businesses are struggling to access essential funding through a Government-backed loan scheme because lenders are blocking their applications. The Government-sponsored bounce back loans scheme was supposed to be a lifeline for businesses struggling to make it through the coronavirus pandemic, but reports suggest that many are struggling to get their hands on essential cash.

Four ways to save money with an accountant

Your accountant can do more than you think when it comes to saving your small business money.

At a time when many firms might be thinking about tightening the purse strings, we’re sharing four helpful things that your accountant can do to save you money without compromising on performance.

Welcoming our new Client Engagement Manager Ellie, to the Cloud team!

“I am delighted to join CloudAccountant.co.uk and be part of the rapidly expanding team.
I’m really excited about being able to focus on our customers and ensure you are provided with the support and exceptional service CloudAccountant are so proud to offer. Even though we are an online service we’re real people, and I’ll be at the end of the phone for a chat and to listen to your business needs whenever you need me. My primary objective will be making your life easier!

I want to really focus on our clients’ experiences, listen to your feedback and be the first point of contact and support for you. I will always ensure your query gets directed to our experienced accountants who have the specialist skills to assist you, allowing you to focus your time and effort on growing your business.
I’ll be in touch with everyone soon to say hello and learn more about you and your business, However, if you have any urgent feedback or need help with any aspect of our service, please don’t hesitate to get in touch! I look forward to speaking with you soon”. Email ellie.preston@cloudaccountant.co.uk or call 07775 603799 / 01625 544 675

Pages