Smarter accounting
28 December 2021, Advocates, Barristers, Companies, Creative Industries, Employer, General, Sole Traders
Alterledger is a learning organisation. Our clients choose us for the insight that we provide. The value we bring is that business owners don’t need to divert their attention to accounts and filing deadlines. Alterledger exists to allow our clients to get with what they do best – their business. Comparison of training and learning […]
9 December 2021, Charities, Companies, Employer, General, Sole Traders
Electronic payment deadline falls on a weekend The December 2021 PAYE electronic payment deadline falls on Saturday 22nd January 2022. To make sure your payment for December reaches HMRC on time, you need to have cleared funds in HMRC’s account by 21 January 2022 unless you are able to arrange a Faster Payment. Remember that […]
1 December 2021, Charities, Companies, Employer, General, Sole Traders
Many businesses pay their December payroll early. However, for employees who also claim Universal Credit, this can cause a problem. What if the normal payment date falls on a weekend? If you pay your employees on the same date each month e.g. 28th, this date will sometimes fall on a weekend. In November 2021 the […]
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 […]
26 November 2021, Companies, Creative Industries, General
After an increase of 1.25% in the Finance (No. 2) Bill can we expect a further increase in the tax on dividend income? MPs call for possible increased tax on dividends The following MPs have proposed an amendment to the Finance (No. 2) Bill Keir Starmer Rachel Reeves Bridget Phillipson James Murray Abena Oppong-Asare Sir […]
21 November 2021, Charities, Companies, Creative Industries, Employer, General
It is tempting to have your company pay personal phone bills, but this article will alert you to some of the pitfalls. On the face of it you might think you save money on a cheaper personal contract. However after considering the VAT, income tax and National Insurance you might be better off on a […]
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 […]
22 July 2020, Companies, Employer, General
If you are going to claim to have advanced Excel skills, make sure you are familiar with the functions and features added to Microsoft 365 in the last few years. As a bare minimum you need to familiar with Excel Tables, PivotTables and functions such as VLOOKUP, and SUMIFS.
1 May 2018, Companies, Employer, General
How do you know what an employer is looking for when they post a job advert? This post will point you in the right direction.
If you are applying for a job with any professional firm (and especially if you are applying for a job with Alterledger) make sure you consider the advice here.
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 […]
25 February 2021, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders
Buying and selling services This article considers what has changed (and what hasn’t) for businesses trading in services with the EU, including situations where there are crucial exceptions to the general rules. The highlights of VAT on services outside the UK In many cases, the VAT on services is no different to pre-Brexit 2020. However, […]
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 […]
10 February 2021, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders
Deferred VAT payment due to Coronavirus On 24th September 2020 the UK Chancellor announced that businesses who deferred VAT due from 20 March to 30 June 2020 had more time to pay VAT from this period. The same guidance still stands though. If you chose to defer your VAT payment as a result of coronavirus, […]
30 December 2020, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders
Action required by 8 April 2021 If you haven’t signed up for Making Tax Digital (MTD) yet, you need to change the way you submit your VAT returns. Even if you currently use Xero to file your VAT returns, you won’t be able to use software to file returns from 8th April unless you are […]
5 November 2020, Advocates, Companies, Creative Industries, Employer, Sole Traders
When is the Bounce Back Loan Deadline? The Bounce Bank Loan deadline for applications was originally scheduled for 4th November 2020 and then extended slightly to 30th November 2020. The announcement by Rishi Sunak on 2nd November on the Bounce Back Loan extended deadlines for applications to 31st January 2021. The Bounce Back Loan Scheme […]
1 November 2020, Companies, Creative Industries, Employer, General, Sole Traders
Coronavirus Job Retention Scheme Extended to end of March 2020 The furlough scheme, where the UK Government pays part of the salary costs of furloughed employees, was first extended to the end of November 2020. Then in an announcement on 5 November 2020 the scheme was extended further until the end of March 2021. Furlough […]
22 October 2020, Charities, Companies, Creative Industries, Employer, General, Sole Traders
What changed with the Job Support Scheme update? The Job Support Scheme update (JSS) announced by Rishi Sunak today (22nd October) reduces the costs for employers and also reduces the minimum hours for workers to 20% compared to 33% previously. The UK Government will issue further guidance shortly, but for the moment, here is what […]
25 September 2020, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders
Rishi Sunak has given you more time to pay VAT On 24th September 2020 the UK Chancellor announced that businesses who deferred VAT due from 20 March to 30 June 2020 will now have more time to pay VAT from this period. The original deadline for this VAT was 31st March 2021. Instead of paying […]
25 September 2020, Advocates, Companies, Creative Industries, Employer, Sole Traders
When is the Bounce Back Loan Deadline? The Bounce Bank Loan deadline for applications was originally scheduled for 4th November 2020. On 24th September Rishi Sunak announced that the deadline for applications would be extended to 30th November 2020. The Bounce Back Loan Scheme (BBLS) will help eligible small and medium-sized businesses affected by the […]
24 September 2020, Charities, Companies, Creative Industries, Employer, General, Sole Traders
How does the Job Support Scheme work? The Job Support Scheme is designed to protect viable jobs in businesses facing lower demand over the winter months due to Covid-19. Employers will receive support from the UK Government to help keep their employees on payroll after the furlough scheme is withdrawn. The company will continue to […]
14 September 2020, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders
VAT is chargeable on all non-refundable deposits HMRC requires you to charge VAT on non-refundable deposits. So you must issue a VAT invoice for charges levied even if the customer does not use the goods or services. This came into force with effect from 1 March 2019, cancelling HMRC’s previous interpretation which allowed some non-refundable […]
14 September 2020, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders
HMRC changes policy with VAT on Cancellation Fees On 2 September 2020, HMRC, issued a Brief dealing with the VAT on cancellation of a contract or early termination fees. The VAT treatment has changed for fees a business charges to allow customers to withdraw from agreements early. If your customer cancels an annual subscription part-way […]
11 September 2020, Charities, Companies, Creative Industries, Employer, General
Coronavirus Job Retention Scheme According to Jim Harra, the First Permanent Secretary and Chief Executive of HMRC, there is more than £3.5bn of overclaimed furlough funding. He estimates that claims in error or fraudulent claims may total up to 10% of cases. HMRC is clamping down hard and looking at 27,000 active cases. In July […]
31 August 2020, Advocates, Barristers, Companies, Creative Industries, Sole Traders
Making Tax Digital compulsory for all (eventually) Recent announcements make Making Tax Digital compulsory for all VAT registered business from April 2022. The self-employed will be included from April 2023 and eventually Corporation Tax too. All VAT registered businesses will have to comply with Making Tax Digital (MTD) from 1 April 2022 and not just […]
19 June 2020, Advocates, Barristers, Companies, Creative Industries, General, Sole Traders
No more extra time to pay your VAT As part of the government’s support for businesses during COVID-19, HMRC gave businesses the option of deferring their VAT payments and cancelling VAT Direct Debit instructions if they were unable to pay on time. This allows VAT to be deferred without incurring late payment interest or penalties. […]
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 […]
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 […]
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. […]
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 […]
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 […]
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