Smarter accounting

Bounce Back Loan - a Bright Idea

Bounce Back Loan

29 April 2020, Advocates, Barristers, Charities, Companies, Creative Industries, Employer

Where CBILS fails, smaller companies can get a Bounce Back Loan The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.  The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. Loan terms will be […]

COVID-19 small business grants in Scotland

Free webinar for COVID-19 Business Support

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 […]

furlough funding

How to claim furlough funding from HMRC

8 April 2020, Charities, Companies, Creative Industries, Employer

HMRC is working on furlough website Many business owners are waiting for details of how to claim furlough funding from HMRC.  Details of the Coronavirus Job Retention Scheme (CJRS) are gradually being released by HMRC. How do I claim my furlough funding? HMRC will pay funding claims within 6 working days of an online application.  […]

CBILS Forecast

CBILS Forecast

4 April 2020, Advocates, Barristers, Charities, Companies, Creative Industries, Employer

Why you need a Coronavirus Business Interruption Loan Scheme / CBILS Forecast. The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK.  The businesses under consideration are those that are losing revenue and seeing their cash flow disrupted as a result of the COVID-19 outbreak.  The scheme is […]

Furlough FAQ

Furlough FAQ and resources

29 March 2020, Charities, Companies, Creative Industries, Employer, Sole Traders

Coronavirus Job Retention Scheme – Furlough FAQ All UK employers will be able to access support for furloughed workers.  This includes charities, non profit and public bodies.  The government expects that the scheme will not be used by many public sector organisations.  The majority of public sector employees are continuing to provide essential public services […]

COVID-19 small business grants in Scotland

COVID-19 small business grants in Scotland

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 […]

extend your accounts filing deadline

Extend your accounts filing deadline

26 March 2020, Charities, Companies, Creative Industries

Company Accounts If your company accounts can’t be prepared in time due to the COVID-19 emergency you can apply to extend your accounts filing deadline by 3 months. How to extend your accounts filing deadline Company accounts for a private limited company are normally due for filing 9 months after the year end date.  If […]

Coronavirus Job Retention Scheme

Coronavirus Job Retention Scheme update

27 March 2020, Charities, Companies, Creative Industries, Employer, Sole Traders

Coronavirus Job Retention Scheme All UK employers will be able to access support for furloughed workers who would otherwise be laid off during the COVID-19 emergency.  Details have now been released.  An online portal will be made available to claim funding from the Coronavirus Job Retention Scheme, which will backdate funding to 1st March 2020. […]

Windmills are a classic example of the circular economy

Alterledger and the Circular Economy

16 March 2020, Charities, Companies, Creative Industries

Defining the Circular Economy The circular economy is a viable alternative to former unsustainable ways of operating.  Accountants are joining other businesses and the City of Glasgow in recognising the positive impact of changing working practices to create a more sustainable future. The circular economy is a direct challenge to the ‘take-make-waste’ mentality of the […]

Give gifts on 5th December to celebrate Sinterklaas

Give gifts on 5th December

3 December 2019, Advocates, Charities, Companies, Creative Industries, Employer, General, Sole Traders

You can give gifts to your staff and customers at any time of the year. Learn how to avoid the pitfalls of paying tax and VAT on your generosity.

Pension re-declaration of compliance

Pension re-declaration of compliance

13 May 2019, Auto Enrolment, Charities, Companies, Employer, Sole Traders

How to complete your auto-enrolment pension re-declaration of compliance Any employers who started employing workers before 1st October 2017 will have been issued with a staging date.  This is the date when they had to have a qualifying auto enrolment pension in place.  For anyone who starting employing people after 30th September 2017 pension duties […]

Pension Re-Enrolment

Pension re-enrolment

8 May 2019, Auto Enrolment, Charities, Companies, Employer, Sole Traders

Pension Re-Enrolment due every three years All employers should now be aware of the their pension obligations.  Any employers who started employing workers before 1st October 2017 will have been issued with a staging date.  This is the date when they had to have a qualifying auto enrolment pension in place.  For new businesses / […]

Charities and Corporation Tax

Charities and Corporation Tax

16 November 2017, Charities, Companies, Creative Industries

Charities and Corporation Tax returns are often misunderstood.  Charities may think that they are automatically exempt from tax on all their income.  As the article explains below, charities may be subject to Corporation Tax on profits / surpluses.

Employer Liability Insurance covers an employer for risks to employees at work

Employers Liability Insurance – make sure you have it!

13 October 2017, Charities, Companies, Creative Industries, Employer, Sole Traders

Following an anonymous complaint to the Health and Safety Executive (HSE), a small Manchester-based company received a fine of £2,500 for failing to have adequate Employers Liability Insurance (ELI).  What are the rules?

National Insurance for Company Directors

5 February 2017, Charities, Companies, Creative Industries, Employer, Musicians

Most employees will pay Class 1 National Insurance each pay day.  The weekly threshold is £157 a week with the monthly threshold being £680.  If an employee earns above these amounts, they will start paying National Insurance above the threshold at 12%.  National Insurance for Company Directors can be worked out differently.

Graduate Trainee Accountant in the library

Graduate trainee accountant vacancy

16 January 2017, Charities, Creative Industries, Employer

We are pleased to announce that a Graduate Trainee Accountant vacancy has been posted by Alterledger on the Glasgow Guarantee website.

Money collected by Digital Tax Accounts

Flat Rate Scheme Reverse Charge VAT

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.

PAYE refund – how to get one

25 September 2016, Charities, Companies, Employer

The normal process for reclaiming overpaid PAYE to HMRC is to deduct the amount HMRC owes you from your next regular payment.  For this reason HMRC does not normally process an automatic PAYE refund.

HMRC telephone scam

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.

Firstport Start Up and Fine Tune Your Social Enterprise

Start Up and Fine Tune Your Social Enterprise

6 November 2016, Auto Enrolment, Charities, Companies, Employer

If you are thinking of starting up a social enterprise or need advice on running an existing business, come along to the Firstport event in Glasgow on Friday 11th November. A series of free workshops have been organised to help you Start Up and Fine Tune your Social Enterprise.

HMRC interest rate change can save you money

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.

HMRC new bank account

20 June 2016, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders

Most people will pay their tax electronically either through their payroll, direct debit or by bank transfer.  Tax payments made from overseas now go to the HMRC new bank details.

RTI Late Reporting Codes

19 June 2016, Auto Enrolment, Charities, Companies, Employer

All UK employers are required to report wage payments on or before wages are paid, under the system known as Real Time Information (RTI).  Under limited circumstances HMRC will accept late payroll information.  To avoid a late reporting penalty you will need to use one of the 7 remaining RTI late reporting codes.

Fine Tune Your Social Enterprise

24 February 2016, Auto Enrolment, Charities, Companies, Employer

If you are thinking of starting up a social enterprise or need advice on running an existing business, come along to the Firstport event in Paisley on Friday 26th February.

SRIT – the Scottish Rate of Income Tax

29 November 2015, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders

From 5th April 2016 a new Scottish Rate of Income Tax (SRIT) will come into force in Scotland.  Although is it currently anticipated that taxpayers in Scotland and the rest of the UK will pay the same rate of tax next year, it is likely that the regions will diverge in coming years as more power is devolved to Scotland.

Not the new childcare voucher sheme

5 November 2015, Advocates, Artists, Barristers, Charities, Companies, Employer, Musicians, Sole Traders

A new government-backed tax-free childcare scheme was set to go live in the autumn of 2015 but so far it has not materialised.  What has happened and is this new scheme still going ahead or not?

Alterledger goes international

11 October 2015, Artists, Charities, Companies, Employer, Musicians, Sole Traders

We’re in Wales for the next few days We will be visiting clients in Cardiff over the next couple of days.  No time for the rugby, but spotted this crashing through Cardiff Castle. Creative Industries in Cardiff Cardiff is the home of BBC Wales, BBC National Orchestra of Wales, Welsh National Opera and of course […]

Legal House

8 October 2015, Advocates, Artists, Barristers, Charities, Companies, Employer, Musicians, Sole Traders

Legal House – a new home for Alterledger Alterledger has grown significantly in the last few months.  We specialise in accounting and business advice for the creative industries and legal professionals.  Legal House is the ideal location as it is just across the river from Glasgow’s dynamic Merchant City, mooted as Europe’s leading cultural quarter.  Legal House […]

Childcare vouchers

5 May 2015, Advocates, Artists, Barristers, Charities, Companies, Employer, Musicians, Sole Traders

As one door opens another closes A new tax-free childcare voucher scheme will start in Autumn 2015.  When this happens the current scheme for employees will close to new entrants, but still remain in place for existing employees.  If you are an employee, you will need to think about signing up now if the existing […]

Tim Alter is proud to be the only top rated accountant in Scotland according to the vouchedfor 2015 listings

Marriage Allowance 2015

12 April 2015, Advocates, Barristers, Charities, Companies, Employer, Musicians, Sole Traders

HMRC announced in February 2015 that registration had opened for the new marriage allowance tax break which enables couples to save the princely sum of up to £17.66 a month (£212 a year).   View image | gettyimages.com Marriage Allowance not just for the married The new tax relief, which came into effect on 6 April […]

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