Smarter accounting

Bounce Back Loan - a Bright Idea

Bounce Back Loan Extended

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 […]

Furlough Scheme Extended

Furlough Scheme Extended

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 […]

The Job Support Scheme provides support from three sources

Job Support Scheme Update

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 […]

More time to pay VAT

More time to pay VAT

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 […]

The Job Support Scheme provides support from three sources

Job Support Scheme Key Facts

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will receive support from the UK Government to help keep their employees on payroll after the furlough scheme is withdrawn.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 […]

Bounce Back Loan - a Bright Idea

Bounce Back Loan Deadline for Applications

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 […]

VAT on Cancellation Fees

VAT on Cancellation Fees

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 […]

VAT on non-refundable deposits

VAT on non-refundable deposits

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 […]

Overclaimed Furlough Funding needs to be repaid to HMRC

Overclaimed Furlough Funding

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 […]

Making Tax Digital compulsory for VAT registered businesses - HMRC AI will change everything

Making Tax Digital compulsory for VAT from April 2022

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 […]

Top excel functions

What is the formula for success? How to excel at excel.

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.

How to set up your VAT Direct Debit

How to set up a VAT Direct Debit

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.  […]

Always read the application details

What an employer is looking for

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.

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 […]

How to set up your VAT Direct Debit

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 […]

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. […]

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, […]

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 […]

Tax free van benefit in kind - did you know that the van Gogh Museum is open on Christmas day?

Company Van Benefit in Kind trap

26 January 2020, Companies, Creative Industries, Employer, General, Musicians

Van benefit in kind tax charge Driving a van as your company vehicle has tax advantages over a car.  The tax charge is generally low compared with a car, and can even be zero in circumstances where a car would be taxable.  What conditions must you satisfy to eliminate a van benefit in kind tax […]

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 […]

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.

Tax charge on a director's loan

Tax charge on a Director’s Loan

20 September 2019, Companies, General

When your company has a tax charge on a director’s loan If you are a director or shareholder in a ‘close’ company, any money owed to the company can trigger a tax charge on a director’s loan. What is a close company? A close company is broadly defined as a company which is under the […]

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