Smarter accounting

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 / […]

How many VAT registered businesses in the UK need to sign up to Making Tax Digital

How many VAT registered businesses in the UK need to sign up to Making Tax Digital

30 March 2019, Advocates, Barristers, Companies, Sole Traders

How many VAT registered businesses in the UK are there? Figures from the Office of National Statistics state that there are 2.67 million businesses registered for VAT and/or PAYE.  Any business with employees must register for PAYE, but not all of these businesses are registered for VAT.  This prompts the question – how many VAT […]

How late can I register for Making Tax Digital for VAT?

29 April 2019, Advocates, Barristers, Companies, Sole Traders

When is my first Making Tax Digital VAT return due? If you are asking yourself “How late can I register for Making Tax Digital for VAT? (MTDfV)” you are likely to be storing up problems.  Suppose you submit quarterly VAT returns to June and have to register for Making Tax Digital for VAT (MTDfV); your […]

Has Making Tax Digital for VAT been delayed?

Has Making Tax Digital for VAT been delayed?

15 March 2019, Advocates, Barristers, Companies, Sole Traders

Has Making Tax Digital for VAT been delayed? Making tax digital for VAT legislation requires you to have “digital links” between your financial data and your VAT reports to HMRC.  What changes might you need to make to your record keeping to achieve this?  A “soft landing” delays the date that you need to have […]

Scottish BarAdvocates Making Tax Digital for VAT Questions and Answers

Advocates Making Tax Digital for VAT Questions and Answers

2 March 2019, Advocates, Barristers, Companies, Sole Traders

Advocates Making Tax Digital for VAT Questions and Answers Tim Alter gave a lunchtime talk to the Scottish Bar on 1st March 2019.  The members of the Faculty of Advocates were highly engaged in the session on Making Tax Digital for VAT.  There was a lively and heartfelt response including a wide ranging discussion on […]

Advocates Making Tax Digital for VAT seminar in Edinburgh

Advocates Making Tax Digital for VAT seminar in Edinburgh

28 February 2019, Advocates, Barristers, Companies, Sole Traders

Advocates Making Tax Digital for VAT seminar We are looking forward to presenting the Advocates Making Tax Digital for VAT seminar in the Mackenzie Building in Edinburgh on 1st March 2019. Tim Alter will be presenting the lunchtime talk to the Faculty of Advocates.  For any advocates who can’t make the Edinburgh talk at 1:00 […]

Making Tax Digital for VAT

Making Tax Digital for VAT – why have HMRC sent a letter?

22 November 2018, Advocates, Barristers, Companies, Creative Industries, Sole Traders

HMRC VAT letter – what does it mean? Many business have received an HMRC VAT letter in the last week.  This letter informs VAT registered businesses that HMRC processes are being modernised, known as Making Tax Digital (MTD) for VAT. What do I need to do? The HMRC VAT letter doesn’t require you to do anything […]

How to reclaim extra VAT

2 December 2017, Advocates, Companies, Creative Industries, Sole Traders

HMRC’s VAT Input Tax Toolkit highlights common errors businesses make when they reclaim VAT on purchases.  As you would expect from an HMRC publication it focuses on situations where you can’t or shouldn’t reclaim VAT.

Accounting for Musicians Workshop Belfast @OhYeahCentre 2017

26 November 2017, Creative Industries, Musicians, Sole Traders

Members of the Musicians Union are invited to a free seminar in Belfast on 7th December 2017.  See below for booking form on Eventbrite.

Accounting for Musicians Glasgow 2017 @scottishmusic

26 November 2017, Creative Industries, Musicians, Sole Traders

Members of the Musicians Union are invited to a free seminar in Glasgow on 5th December 2017.  See below for booking form on Eventbrite.

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?

How to register with HMRC as Self-Employed

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. 

Scottish Music Centre

Accounting for Musicians Glasgow 2016 @scottishmusic

5 December 2016, Creative Industries, Musicians, Sole Traders

Members of the Musicians Union are invited to a free seminar in Glasgow on 6th December 2016.  See below for booking form on Eventbrite.

Accounting for Musicians Workshop Belfast @OhYeahCentre

5 December 2016, Creative Industries, Musicians, Sole Traders

Members of the Musicians Union are invited to a free seminar in Belfast on 8th December 2016.  See below for booking form on Eventbrite.

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.

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.

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.

Tax on bank rewards and cashback

28 July 2016, Advocates, Artists, Sole Traders

Some high street banks have been offering rewards to their customers.  A common question is whether or not you have to pay tax on bank rewards.  Rewards are typically paid subject to criteria such as paying in a minimum amount each month and setting up direct debit instructions.

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.

Marriage Allowance update April 2016

17 April 2016, Advocates, Artists, Creative Industries, Sole Traders

The Marriage Allowance is a tax break for couples where one partner doesn’t use all their tax free allowance.  For the 2016-17 tax year, which runs from 6th April 2016 to 5th April 2017 the tax free allowance is £11,000.

Get your discount 2016 tax return

7 February 2016, Advocates, Artists, Barristers, Creative Industries, Employer, Musicians, Sole Traders

Everyone should have filed their 2015 tax return by 31st January 2016.  For most people this means a sigh of relief and not thinking about it until again until next January.  There is nothing to stop you filing your tax return in April or May if you have all the information you need.

Accounting for Musicians

29 November 2015, Creative Industries, Musicians, Sole Traders

Members of the Musicians Union are invited to a free seminar in Glasgow on 3rd December 2015.  See below for booking forms on Eventbrite.

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.

Money collected by Digital Tax Accounts

Digital Tax Accounts – the end of tax returns?

26 November 2015, Advocates, Artists, Barristers, Companies, Creative Industries, Musicians, Sole Traders

The Spending Review and Autumn Statement 2015 from Chancellor George Osborne confirms that the government is committed to Digital Tax Accounts.  The following extract is from the transcript of the speech delivered on 25th November 2015: “We’re going to build one of the most digitally advanced tax administrations in the world.  So that every individual and every small business will have their own digital tax account by the end of the decade, in order to manage their tax online.”

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 […]

Bring It All Home for musicians

9 September 2015, Companies, Musicians, Sole Traders

Managing my money As part of the Bring It All Home series of events in Paisley,  Tim Alter of Alterledger will be presenting a free session sharing tips and advice on maximising your earnings and keeping up to date with your accounts. Bring It All Home Bring It All Home is three day spectacular for artists, […]

Badges of Trade

22 May 2015, Artists, Musicians, Sole Traders

Do I have to pay tax on my hobby? If you run a business from home the likelihood is that you will have to pay tax on profits.  Not all activities related to buying and selling are recognised as trading by HMRC.  To establish whether a person is carrying on a trade you need to […]

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