Ideas and advice from our team, to help you with your business
- COVID-19 Updates
- Future of Finance
- Growing a Business
- Managing a Business
The Autumn 2021 budget did not give us many surprises. There were no significant changes to income tax rates. Instead, we were presented with extensions
The reduced VAT rate of 5% for the hospitality industry is due to end on 30 September 2021. It’s time for businesses to consider how this will impact their trade.
To prepare, we recommend that our clients: review their prices; prepare till systems for the change; save for their VAT bill; constantly monitor their business’ performance.
Business owners have taxes to pay throughout the year. For some, paying on time is not always possible.
To avoid facing interest and penalties for overdue payments, taxpayers should know the deadlines, plan ahead and take action as early as possible.
Times are tough for UK business. You may be reading this because your business is having a hard time. But what can you do? I’m going to explain the benefits of getting help from someone on the outside, like an accountant, and the value of using experienced professionals.
My Finance Drive bookkeeping team have seen a recent increase in the number of enquiries from HMRC, especially on VAT Returns. One HMRC agent told us that extra staff had been brought in from other departments to help them complete all of these reviews. But what is a VAT enquiry? What does it mean for your business? And what has prompted this increase?
We have been incredibly fortunate this year: we have been able to keep working. While many businesses have slowed down or temporarily stopped trade, we absolutely haven’t.