Smarter accounting
24 March 2022, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, Musicians, Sole Traders
The Spring Statement 2022 confirmed increases to National Insurance from the tax year starting 6th April 2022. The threshold for paying National Insurance increases to £12,570 from July, but this doesn’t affect the additional tax on dividends. The difference in the payment date of your dividends by just one day could mean that you pay […]
24 March 2022, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, General, Musicians, Sole Traders
The Spring Statement 2022 confirmed increases to tax and National Insurance from 6th April 2022. The (mild) good news is that the threshold for paying National Insurance increases to £12,570 from July 2022. There are still opportunities for most taxpayers to take advantage of a tax break in the form of pension contributions. What is […]
27 November 2021, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, General, Musicians, Sole Traders
What is a gift? This might seem to be an obvious question, but it helps to get the definition clear to work out the tax implication of gifts for customers and suppliers. A gift is something you give without receiving anything in exchange. For example, you may choose to give a customer a bottle of […]
18 November 2021, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, Musicians, Sole Traders
The budget confirmed a few increases to tax which are likely to stoke inflation in the form of the Health and Social Care Levy. The Finance Bill is currently passing through the legislative process to introduce tax increases for most people. How does the budget affect my business? The figure of 1.25% crops up in […]
9 May 2021, Advocates, Artists, Creative Industries, General, Musicians, Sole Traders
It is said that there are two certainties in life, death and taxes. The old cliche has a ring of truth, and you can add tax scams to the list of known knowns. Donald Rumsfeld was roundly mocked for his comment at a news briefing on 12th February 2002 about known knowns, but on reflection, […]
23 February 2021, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Musicians, Sole Traders
A bolt from the blue – Receipt Bank is now Dext In a surprise announcement from Receipt Bank Dext, the branding and log in details for the online service changed today. How do I log in to Dext? If you previously used the following web address to log in to Receipt Bank, it should still […]
27 January 2021, Artists, Charities, Companies, Creative Industries, Musicians, Sole Traders
Get up to £25,000 for Scottish Wedding Industry The new Scottish Wedding Industry Fund opens for applications on 28 January 2021. If your business gets most of its income from weddings you could qualify for a grant of up to £25,000. The fund is available to jewellers, pipers and wedding bands as well as caterers […]
25 January 2021, Advocates, Artists, Barristers, Creative Industries, Sole Traders
At (almost) the eleventh hour, HMRC announces tax filing deadline extended to 28 February HMRC announced today that you will not receive a penalty for filing your 2019-20 tax return late, as long as you file online by 28 February. We are still encouraging taxpayers who have not yet filed to do so by 31 […]
22 January 2021, Advocates, Artists, Barristers, Creative Industries, Sole Traders
Strapped for cash and worried about your tax? If you are one of the many self-employed who need extra time to pay your income tax bill at the end of the month, HMRC have an online process to help you spread your payment. With just over a week to go until the filing deadline for […]
30 November 2020, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders
SEISS third grant open for claims. The rules on who is eligible to claim are different to those for the previous SEISS grants. The third grant will be based on 80% of three months’ average trading profits, paid out in a single taxable instalment capped at £7,500, and will cover the period from 1 November […]
30 October 2020, Advocates, Artists, Creative Industries, Musicians, Sole Traders
Received an SEISS grant? Check your inbox to avoid a penalty. HMRC is contacting businesses which claimed a grant under the Self-Employment Income Support Scheme to check whether they have stopped trading. What do you need to do? How do I know an email from HMRC isn’t spam or phishing? HMRC do not normally email […]
6 November 2020, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders
Payment no 3 in December for SEISS extended to April. The Self-Employment Income Support Scheme (SEISS) has been extended to April 2021. If you are self-employed and were eligible for the first and second SEISS grants you will be able to claim grants for the 6 month period from November 2020 to April 2021. What […]
4 September 2020, Advocates, Artists, Barristers, Creative Industries, General, Musicians, Sole Traders
Reduce your income tax payments on account to HMRC You can reduce payments on account to HMRC if you expect your profits to be lower in the year to 5th April 2021. Most sole traders will find that their taxable profits will be lower this year due to the effects of the COVID emergency. If […]
17 August 2020, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders
Check if you can claim the SEISS phase 2 grant through the Self-Employment Income Support Scheme The Self-Employment Income Support Scheme (SEISS phase 2) is now open for the self-employed to receive a second and final grant of up to £6,570. The HMRC website went live on 17th August 2020 to allow you to claim […]
13 May 2020, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders
Check if you can claim a grant through the Self-Employment Income Support Scheme The Self-Employment Income Support Scheme (SEISS) is now open for the self-employed to receive a grant of up to £7,500. The HMRC website to check your SEISS eligibility has been set up. Find out what you need to do to allow HMRC […]
4 May 2020, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders
Get up to £7,500 from the government if you are self-employed Find out if you are eligible to Claim Self-employment Income Support Scheme Grant of up to £7,500. Details of the Self-employment Income Support Scheme have now been published to support the self-employed or members of a partnership with trading income. You will need to […]
28 April 2020, Advocates, Artists, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
COVID-19 Business Support webinar from Collabor8te Collabor8te is a coworking space in the heart of Glasgow. Although the building is closed at the moment, they are still supporting the business community in Glasgow and across Scotland. Collabor8te are putting on a free webinar to provide some answers on the COVID-19 business support measures that have […]
2 April 2020, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, General, Musicians, Sole Traders
Pay less for online subscriptions It seems that almost everyone is turning to online communications in the current situation, with Zoom, WhatsApp and Skype seeing a dramatic increase in use. Even the UK prime minister is an advocate of Zoom. Save more than 16% on Zoom costs by following the steps below. You can also […]
30 March 2020, Artists, Creative Industries, Musicians
Creative Scotland COVID-19 Impact Funds Creative Scotland bursary funds are are available on three separate funding programmes. The grants are designed to provide support to sustain Scotland’s creative community during the COVID-19 outbreak. The Creative Scotland and Screen Scotland Bridging Bursaries will aim to support those most in need at this time, particularly those who […]
30 April 2020, Advocates, Artists, Creative Industries, General, Musicians, Sole Traders
Grants for newly self-employed Applications for this grant opened on the afternoon of Thursday 30th April. Grants are administered by the local authority in which you live. To claim newly self-employed hardship fund cash, refer to your own local authority website. Claim Newly Self-Employed Hardship Fund Cash You need to apply in your Local Authority […]
27 March 2020, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders
Government grant to freelancers Details of the Self-employment Income Support Scheme have now been released to support the self-employed or members of a partnership with trading income. Who can apply for the Self-employment Income Support Scheme? You can apply if you’re a self-employed individual or a member of a partnership and you: have submitted your […]
26 March 2020, Artists, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
Grants for business Each local authority will be processing COVID-19 small business grants in Scotland. Applications must be made to the local authority where you are liable for non-domestic rates. How to claim COVID-19 small business grants in Scotland There are two types of grant available to ratepayers: £10,000 grant to ratepayers of businesses in […]
20 March 2020, Advocates, Artists, Barristers, Creative Industries, General, Musicians, Sole Traders
Payments on account cancelled in July The UK Government announced on 20th March that there would be no income tax payments due in July 2020 for the self-employed. Payments on Account Personal tax returns must be filed by 31st January following the end of the tax year. For the tax year ended 5th April 2019 […]
24 April 2020, Advocates, Artists, Barristers, Creative Industries, General, Musicians, Sole Traders
Grants for newly self-employed The Scottish Government has announced a £34 million Newly Self-Employed Hardship Fund. The fund will be managed by Local Authorities to allocate grants of £2,000 to the newly self-employed facing hardship. The self-employed who started trading after 5th April 2019 are excluded from the Self-Employment Income Support Scheme. The Scottish Government […]
3 January 2017, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders
The first task in working out if you need to register with HMRC is to assess whether you are self-employed.
2 December 2016, Artists, Creative Industries
Alterledger is delighted to be shortlisted for the @aandbscotland International Award in partnership with @waspsstudios.
30 September 2016, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
If a trader on the flat rate scheme for VAT purchases services from outside the UK, the business needs to account for Flat Rate Scheme Reverse Charge VAT according to Directive 2006/112/EC. Small businesses on the Flat Rate Scheme for VAT do not usually account for VAT on purchases.
7 September 2016, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
There are two new scams that you need to be aware of. Callers are leaving a phone message or posing as an HMRC investigator. If you are on the receiving end of an HMRC telephone scam you can report it on 0300 1232040 or on the Action Fraud Website.
24 August 2016, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
Following the Bank of England’s cut in its base rate from 0.5% to 0.25% on 4th August the HMRC interest rate has changed too.
21 August 2016, Artists, Creative Industries
The Anna Lobner Glasgow / Dusseldorf Exchange provides a valuable opportunity for artists to have the space and time to develop their practice in a new environment. The programme started 13 years ago in memory of the German artist Anna Lobner.
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