Smarter accounting

Deferred VAT Payment

Deferred VAT payment and how to cancel your Direct Debit

3 April 2020, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders

Extra time to pay your VAT On 20th March 2020 the UK Chancellor announced support to businesses in the form of a deferred VAT payment scheme.  This helps VAT registered businesses with their cash flow during the COVID-19 pandemic.  All VAT registered businesses can defer VAT payments.  If you currently pay by Direct Debit, you […]

Save more than 16% on Zoom subscription

Save more than 16% on Zoom subscription

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 […]

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 […]

Self-employment Income Support Scheme

Self-employment Income Support Scheme

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 […]

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 […]

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. […]

Empty office due to furloughed workers

Furloughed workers

23 March 2020, Companies, Creative Industries, Employer, Sole Traders

Furloughed workers and the 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 provided by the UK Government.  An online portal will be made available to claim funding from the Coronavirus Job Retention Scheme, […]

no income tax payment due in July 2020

No income tax payments due in July

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 […]

VAT Expenses require supporting paperwork

VAT Expenses – What proof does HMRC need?

24 January 2020, Advocates, Companies, Creative Industries, Sole Traders

A recent case of missing documents highlights the need for supporting information for VAT expenses to minimise your VAT bill to HMRC. Make sure you have good bookkeeping systems to get the VAT back that you are entitled to.

Tramshed Tech is in Cardiff

Alterledger in Tramshed Tech

13 December 2019, Companies, Creative Industries, Sole Traders

Alterledger is coming to Tramshed Tech in Cardiff to give free tax and accounting advice at 11:00 on 20th December Alterledger has been on tour with sessions for the creative industries in Glasgow on 10th December 2019 and Belfast on 12th December 2019.  It will be Cardiff’s turn on 20th December so Tim Alter will be in […]

Tax and Accounting for Musicians - Get It Right and Save Money

Tax and Accounting for Musicians: Get It Right and Save Money!

5 December 2019, Creative Industries, Musicians, Sole Traders

Free Tax and Accounting for Musicians’ Union members Members of the Musicians Union are invited to a free seminar – Tax and Accounting for Musicians in Glasgow on 10th December 2019 and Belfast on 12th December 2019.  You can learn how to take some of the stress out of filing your tax return.  If you are […]

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.

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

MTD Registration – progress to date

19 August 2019, Advocates, Barristers, Companies, Sole Traders

MTD Registration – Key numbers The Making Tax Digital (MTD) rules became law for VAT periods starting on or after 1 April 2019. MTD registration requires VAT-registered businesses with taxable turnover over £85,000 to keep their VAT records digitally.  They must also submit their VAT return direct from their Making Tax Digital-compatible software.  The MTD […]

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.

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?

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.

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. 

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.

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.

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.

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