VAT on Cancellation Fees
14 September 2020
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
14 September 2020
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
11 September 2020
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 […]
Claim to reduce payments on account
4 September 2020
Reduce your income tax payments on account to HMRC You can reduce payments on account to HMRC if you expect your profits to be lower in the year to 5th April 2021. Most sole traders will find that their taxable profits will be lower this year due to the effects of the COVID emergency. If […]
Alterledger welcomes Ellys
16 September 2020
Welcome to Ellys! Our latest recruit started today. We are delighted to welcome Ellys to the team at Alterledger as a Trainee Accountant. We look forward to introducing her to our clients.
Making Tax Digital compulsory for VAT from April 2022
31 August 2020
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 […]
SEISS phase 2
17 August 2020
Check if you can claim the SEISS phase 2 grant through the Self-Employment Income Support Scheme The Self-Employment Income Support Scheme (SEISS phase 2) is now open for the self-employed to receive a second and final grant of up to £6,570. The HMRC website went live on 17th August 2020 to allow you to claim […]
Manager job for qualified accountant Glasgow
23 March 2021
Introduction The position of manager is a new role created in response to the growing demand for Alterledger’s services. The postholder will report to Tim Alter and be responsible for managing a committed team to deliver excellent customer service through operational and commercial success. The job is office-based in Legal House. The Alterledger offices are […]
Alterledger welcomes Daniel
11 September 2020
Welcome to Daniel! We are delighted to welcome Daniel to the team at Alterledger as a Trainee Accountant. We look forward to introducing him to our clients.
Graduate Trainee Accountant Job Glasgow
7 August 2020
Trainee Accountant Job Glasgow Due to the growing demand for our services we have 2 trainee accountant job vacancies at Alterledger. The positions offer study support and a route to gaining a permanent position as a qualified accountant in a modern accountancy practice. It is expected that the trainee would complete a qualification with CIMA […]
How to set up a VAT Direct Debit
19 June 2020
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. […]
Check your SEISS eligibility
13 May 2020
Check if you can claim a grant through the Self-Employment Income Support Scheme The Self-Employment Income Support Scheme (SEISS) is now open for the self-employed to receive a grant of up to £7,500. The HMRC website to check your SEISS eligibility has been set up. Find out what you need to do to allow HMRC […]
Claim Self-employment Income Support Scheme Grant
4 May 2020
Get up to £7,500 from the government if you are self-employed Find out if you are eligible to Claim Self-employment Income Support Scheme Grant of up to £7,500. Details of the Self-employment Income Support Scheme have now been published to support the self-employed or members of a partnership with trading income. You will need to […]
Claim Newly Self-Employed Hardship Fund Grant of £2,000
30 April 2020
Grants for newly self-employed Applications for this grant opened on the afternoon of Thursday 30th April. Grants are administered by the local authority in which you live. To claim newly self-employed hardship fund cash, refer to your own local authority website. Claim Newly Self-Employed Hardship Fund Cash You need to apply in your Local Authority […]
Bounce Back Loan
29 April 2020
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 […]
Free webinar for COVID-19 Business Support
28 April 2020
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 […]
How to claim furlough funding from HMRC
8 April 2020
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
4 April 2020
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 […]
Deferred VAT payment and how to cancel your Direct Debit
3 April 2020
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
2 April 2020
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 […]
Creative Scotland Bursary Funds
30 March 2020
Creative Scotland COVID-19 Impact Funds Creative Scotland bursary funds are are available on three separate funding programmes. The grants are designed to provide support to sustain Scotland’s creative community during the COVID-19 outbreak. The Creative Scotland and Screen Scotland Bridging Bursaries will aim to support those most in need at this time, particularly those who […]
Furlough FAQ and resources
29 March 2020
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
27 March 2020
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
26 March 2020
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
26 March 2020
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 update
27 March 2020
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. […]
No income tax payments due in July
20 March 2020
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 […]
Alterledger and the Circular Economy
16 March 2020
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 […]
Newly Self-Employed Hardship Fund
24 April 2020
Grants for newly self-employed The Scottish Government has announced a £34 million Newly Self-Employed Hardship Fund. The fund will be managed by Local Authorities to allocate grants of £2,000 to the newly self-employed facing hardship. The self-employed who started trading after 5th April 2019 are excluded from the Self-Employment Income Support Scheme. The Scottish Government […]
Company Van Benefit in Kind trap
26 January 2020
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 […]
