Blog
What is the secret to building a creative culture and how does it benefit team members and customers?
When someone tells you that their business aim is to cultivate a culture of creativity, what sort of business comes to mind? Creativity is not only for job titles such as graphic designer or marketer but, instead, can be applied to the operations and structure of a business. After the...
Read MoreLet’s talk money. Cryptocurrency, inheritance tax, and inflation, what should I know
At the start of any conversation about money, it is important to acknowledge that there are no simple answers. Money is a complex and multifaceted subject, and when it comes to things like cryptocurrency, inheritance tax, and inflation, things aren’t always straightforward. That being said, it is essential to gain...
Read MoreHow having an LLP impacts your audit – introducing our travel industry client
Audit is the process of independently verifying the accuracy of an organisation’s financial statements. When a company’s accounts are required to be audited, it is typically because the company’s turnover exceeds £10.2m, has 50 employees or more, a balance sheet value of £5.1m or more, or operates within a regulated...
Read MoreUK inflation, should I let my spare money sit in my bank account?
UK Inflation is predicted to reach 6% in April, and we have less than a month left to use up any remaining 2021-22 ISA (Individual Savings Account) allowance. As an adult in the UK, you have an allowance of £20,000 which you can put into ISAs every year, however any...
Read MoreWill HMRC’s gift horse make you look like an April fool? What if you didn’t pay your tax bill by the statutory deadlines?
The annual personal tax return crunch-time is now far in our rear-view mirror, much to the delight of accountants and tax advisers across the UK. Yet HMRC’s relaxing of the rules due to the pandemic has made for some confusion for individuals in Self Assessment. The good news: HMRC will...
Read MoreLooking to buy a business? Learn how this M&A company is utilising the LLP model to do this
If you ever considered buying a business and operating it as an LLP then this case study with our LLP client Wolfgang Capital can help you answer some questions about the process. Wolfgang Capital is an M&A investment company that focuses on operational profitability and cash flow by investing in...
Read MoreWhat is Film Tax Relief, and a short story of tax fraud in the film industry
If we were to ask you “What links Lawrence of Arabia, Edgar Allen Poe, and AC/DC?”, we expect you might be left stumped. Yet there’s a perfectly plausible answer in the “horror/comedy/musical road movie” known as Eldorado, alternative title Highway to Hell: Peter O’Toole narrates the film, it opens with...
Read MoreA guide to maternity allowance for LLP members
LLP members (partners) are self-employed, which means they don’t qualify for Statutory Maternity Pay but can still receive Maternity Allowance. To receive Maternity Allowance, you’ll need to fill out an application. We’ve outlined below what steps need to take place in order to receive this financial support. Applying To apply...
Read MoreVAT Annual Accounting scheme, is it advantageous for my small business?
VAT-registered businesses are required to submit VAT returns four times per year. You can, however, sign up for the VAT Annual Accounting Scheme if you are eligible (and it is worth your time). You will only have to file a VAT return once a year under this scheme. The scheme’s...
Read MoreMaking Tax Digital (MTD) for income tax – the what, the who and the how
Making Tax Digital (MTD) is part of the Treasury’s vision to digitalise the UK tax system, which simply means that businesses must ensure that they maintain digital accounting records as opposed to continuing to do tax-related activities on paper. Hopefully, going forward, this will improve the speed and efficiency of...
Read MoreEasy to follow example on why paying yourself as an LLP member may be better than through PAYE
Awesome! I Survived the pandemic restrictions to my business, I broke even and haven’t got any tax to pay! Or have I? To explore the subject of tax to pay, let’s drill into the numbers a little bit. Here is our imaginary company, Wobbly Candles Ltd. We buy and sell...
Read MoreWhat is video game tax relief and the curious story of Grand Theft Auto
This is the first piece in a three-part series on our blog, shedding light on the creative industries reliefs made available to create content that is predominantly generated within the UK, checking out case studies where available, and perhaps looking at how things could be amended/improved. We kick things off...
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