Smarter accounting
31 January 2022, General
It has become an annual event at Alterledger to go for a team lunch on 31st January to celebrate completing all our tax returns. We weren’t able to go for lunch in January 2021 – covid got in the way, but this year we were able to get back to the annual routine. The past […]
24 March 2022, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, General, Musicians, Sole Traders
The Spring Statement 2022 confirmed increases to tax and National Insurance from 6th April 2022. The (mild) good news is that the threshold for paying National Insurance increases to £12,570 from July 2022. There are still opportunities for most taxpayers to take advantage of a tax break in the form of pension contributions. What is […]
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 […]
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 […]
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 […]
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 […]
27 October 2021, General
Surprise treat in the 2021 Autumn Budget – Capital Gains Tax deadline increased. Rishi Sunak delivered his Budget Speech 2021 on 27th October 2021. The accompanying small print confirmed that the CGT payment deadline increased from 30 days to 60 days for UK residential property. Selling a house can be a slow process and getting […]
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.
16 November 2021, General
We are pleased to announce that Alterledger is now a Xero Gold Champion. Why Xero Gold? We use Xero because we think it is the best software for Owner Managed Businesses. Xero is constantly adding improvements to an already impressive product. Without Xero we couldn’t provide the high quality service that our clients have come […]
28 May 2021, General
What is a growth mindset? The concept of a growth mindset was brought to the public attention by Stanford psychologist Carol Dweck. Her experience suggested that those who believed that their abilities could be developed outperformed those who believed they were fixed. This might seem self-evident, but as shown below this has wider applications. If […]
17 May 2018, General
Never send word files unless you really have to. In most cases a PDF file will be the better option as it retains your formatting and allows you to control your document.
Sending word files with key information including covering letters and CVs can be perceived as unprofessional. There is no excuse not to send these files in PDF format!
10 August 2021, General
Welcome to Pawel! Pawel is the newest member of the team at Alterledger, joining as a Trainee Accountant. We look forward to introducing him to our clients.
9 May 2021, Advocates, Artists, Creative Industries, General, Musicians, Sole Traders
It is said that there are two certainties in life, death and taxes. The old cliche has a ring of truth, and you can add tax scams to the list of known knowns. Donald Rumsfeld was roundly mocked for his comment at a news briefing on 12th February 2002 about known knowns, but on reflection, […]
17 May 2021, General
Welcome to Sarita! Our latest recruit started today. We are delighted to welcome Sarita to the team at Alterledger. Sarita is a member of the ACCA. We look forward to introducing her to our clients.
27 March 2021, General
For a stellar interview, be a STAR interviewee The STAR method is a useful framework to help you prepare for interviews. The approach can be applied to job applications, performance reviews and workplace appraisals. STAR will allow you to structure your answers to ensure that you are making your point clearly. What is the STAR […]
21 May 2021, General
Trainee Accountant Job Glasgow In partnership with Glasgow City Council, we are pleased to announce a vacancy for a trainee accountant at Alterledger. If you live in the Glasgow City local authority and are ready to let your career flourish, this job could be for you. The position offers study support and a route to […]
20 April 2021, Advocates, Barristers, Creative Industries, General, Musicians, Sole Traders
A sole trader may incur costs before setting up their trade. Some of these pre-trading expenses are allowable for tax purposes subject to being ‘wholly and exclusively’ for the trade or profession. Capital items purchased prior to trading may also qualify for capital allowances. Pre-trading expenses Expenses incurred up to 7 years before commencement of […]
25 April 2021, Advocates, Barristers, Creative Industries, General, Musicians, Sole Traders
Before you start to trade you can register for VAT as an intending trader to recover input VAT on computer equipment and other costs. You can also recover pre-registration VAT in some circumstances. Pre-trading VAT The current threshold for obligatory VAT registration is an annual turnover of £85,000. Voluntary registration is beneficial where: VAT on […]
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, […]
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 […]
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 […]
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 […]
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