Self Assesmnet Tax Return – Deadlines and Penalties

Self Assesmnet Tax Return – Deadlines and Penalties
Deadlines and Penalties If you receive a Tax Return, you are legally obliged to complete it, even if you think it is not relevant to you. If you do not submit a completed Tax Return, you will be fined and HMRC may issue an estimated tax bill (called a ‘determination’). This estimated bill will stand until you send in the completed Tax Return. You have only three years from the 31 January filin...

I don’t know if I need to complete a Tax Return ?

I don’t know if I need to complete a Tax Return ?
HELP WITH YOUR SELF ASSESSMENT TAX RETURN  HM Revenue and Customs sends Tax Returns – or a notice to file on-line – to everyone in the Self-Assessment system in April / May every year. If you receive a tax return, or a notice to file on-line, you must complete a return and submit it to HMRC. This is so even if you are an employee and all your income is taxed under PAYE. The only exception t...

Don’t delay your Self-Assessment Tax Return?

Don’t delay your Self-Assessment Tax Return?
Have you filed your Self-Assessment Tax Return? The deadline of the 31st January 2017 is fast approaching for filing 2015/16 Self Assessments online, thousands will probably file late and will leave filing until January. Even though we’ve had from April to do so, most of us wait until the last two months and take it right up to the wire! As per HMRC statistics 51%of returns were filed in Janua...

Cloud Accounting for Small Business

Cloud Accounting for Small Business
Problems with traditional accounting software The data in the system isn’t up to date and neither is the software. It only works on one computer and data bounces from place to place. For example, on a USB drive. This is not secure or reliable. Only one person has user access. Key people can't access financial and customer details. It's costly and complicated to keep backups (if done at a...

Right time to use Cloud Accounting Software ?

Right time to use Cloud Accounting Software ?
With cloud accounting software the sky is the limit for small business.  As a small business owner you have enough to do without spending time and effort keeping track of your expenses or working out who owes you what.  Nearly all small business owners (if they are being honest) will also agree that cash flow can be erratic at times, and to do simple tasks like produce invoices,  track bank and...

How do you choose the right accountant or tax adviser

How do you choose the right accountant or tax adviser
Tips on how to choose the right accountant/tax adviser for you or your business It is important to choose your accountant/tax adviser carefully. Here are a few tips to help you. If you have not used an adviser before you should be aware that anyone can call themselves an accountant/tax adviser whether or not they are professionally qualified. There are some non-qualified advisers who may ...

Tax evasion or tax avoidance?

Tax evasion or tax avoidance?
What is tax evasion? The majority of businesses and individuals in the UK pay the correct amount of tax, and do so in a timely manner. A small minority don’t, taking part in either tax evasion or tax avoidance. This contributes to the tax gap, which is the difference between the amount HMRC expects to collect and the actual amount collected. There are other reasons for the tax gap aside from eva...
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Top five tips for starting a small business

Top five tips for starting a small business
Launching a small enterprise is an exciting period, although it can be daunting, especially as there’s so much information to absorb. Statistics indicate that the rate of failure in the first year of trading is high, so careful planning is necessary. Business plan There are a number of reasons why a business plan is crucial. If you intend to apply for finance, you will almost certainly need a so...

Four reasons why your small business needs an accountant

Four reasons why your small business needs an accountant
When you make the decision to start a small business, you will probably have a host of questions. You will also be trying to keep expenses as low as possible, and outsourcing to an accountant may seem like an extra cost. However, an accountant that specialises in small businesses will be able to answer all your questions, providing advice that could make the difference between success and failure ...

Funded Business Growth

Funded Business Growth
You may be eligible for a grant to fund all or part of the support we provide! Sandn are recognised as one of the leading business support providers in the UK we have gained a variety of accreditations and approvals to deliver government funded business support. The good news is that we will make it easy for you to access this funding!! As you can imagine, business owners often find it di...