Trading As a Limited Company

By Gary Robinson / April 6, 2024

Trading As a Limited Company If you decide that forming a private limited company is the best way to then you will first need to think of a name and this must a name that is not already being used you can check this out at Companies House https://www.gov.uk/set-up-limited-company. If the name is available, then…

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Sole Trader or Limited Company

By Gary Robinson / March 30, 2024

A question I often get asked is which way should I go Sole Trader/Partnership V Limited company and there is no right and wrong answer. Both sole trader and partnerships are unincorporated, so the business information is not held in the public domain. Limited companies have the business information on Companies House, and anyone can…

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HM Revenue Customs thinks the solution lies in the use of online

By Gary Robinson / August 4, 2023

HMRC Annual Report shows some important trends for business owners HMRC’s annual report was published last week, and it shows that they failed to meet many of their key customer services measures in 2022-23. Customer satisfaction dropped to 79% from 82% last year and telephone performance has also declined with an average wait of 16…

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Budget Summary

By Gary Robinson / March 24, 2023

Last week, Jeremy Hunt, Chancellor of the Exchequer, revealed his first Spring Budget. There was a focus on managing inflation and government debt, encouraging those who have left their jobs to return to the workforce, and increasing business investment. Here are some of the key measures announced in the Spring Budget that will affect businesses…

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New VAT Penalties and Interest Payments

By Gary Robinson / March 11, 2023

The new penalties will impact businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties are due by 7 March 2023. The late payment penalties and points-based late submission penalties were introduced from 1 January 2023, replacing the VAT default surcharge, and apply to accounting periods which start on or…

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How much is my business worth?

By Gary Robinson / September 4, 2022

This is a question many of our clients want an answer to! The truth is, it depends on a range of factors and any valuation is only helpful as a guide for planning forward. The ultimate value of a business is the price a willing buyer is prepared to pay for it.   The prevailing economic…

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Making Tax Digital

By Gary Robinson / June 25, 2022

Making Tax Digital for VAT – New penalties for non-compliance HMRC have issued guidance for VAT-registered business and their agents on how to avoid penalties for non-compliance with the Making Tax Digital for VAT (MTD) rules. In particular, there is a new £400 per return penalty if you file a return but do not use…

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Mobile Employees

By Gary Robinson / July 31, 2021

For income tax, the basic principles from which to start are that an individual who is resident in a country will generally be taxed in that country on their worldwide income, but regardless of residence, an individual who is physically present and working in a country will be liable to tax in that country on…

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Electric Car Charging

By Gary Robinson / June 28, 2021

A supply of electricity is charged at the standard rate of VAT, other than a supply for domestic use, which is charged at the reduced rate of 5%, and low-level usage in other settings which is ‘deemed’ domestic use, also 5%. Supplies of electricity from charging points, although small amounts, do not meet the conditions…

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Covid 19 The Vaccine

By Gary Robinson / December 31, 2020

VACCINE OPTIMISM – WILL THE LOCKDOWN END? The news is full of stories this week of the UK Government approving the Pfizer vaccine and who will be first to be offered the jabs and how the vaccine will be rolled out and, rightly so, people are more optimistic about the ending of lockdown and a…

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