Tax

In today’s fast-paced business environment, staying compliant isn’t just about avoiding fines—it’s about building a sustainable and trustworthy company. From tax obligations to payroll regulations and financial reporting requirements, small businesses face a maze of rules that can be overwhelming to navigate alone. That’s where Accountants247 Glasgow South come in. More than just number-crunchers, we can be your...

Business rates can be a major overhead when you’re running a shop or hospitality business. But the good news is that your business may be eligible for relief on these rates. Retail, hospitality and leisure relief is available for eligible businesses that meet the criteria. And if that’s you, you could be looking at a 75% cut to...

Here’s your breakdown of the major business announcements from the Autumn Statement 2024. A budget to fix the foundations of the economy Rachel Reeves, the Chancellor of the Exchequer, delivered the Autumn Statement on 30 October 2024, saying that this was a budget intended to fix the foundations of the economy, deliver change for working people, mend the...

Keeping up to date with HMRC’s Making Tax Digital initiative is important, whatever size business you run and however you currently record, submit and pay your business taxes. Let’s take a quick look at the goals of Making Tax Digital (MTD), which requirements are currently mandatory and which elements are likely to change in the near future. What...

If you’re domiciled outside of the UK for tax, you’ll need to get yourself up to speed on the recent announcement from the new Labour government regarding ‘non-dom’ status. As the recent policy note from HM Treasury outlines, ‘the government is committed to addressing unfairness in the tax system, so that everyone who is long-term resident in the...

Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to understand what expenses...

The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers and tax advisers, we both have to be nimble, flexible and aware of changes. That’s why regular tax-planning sessions are so important. Is your business meeting the right tax compliance goals? Are there tax changes...

The Chancellor, Jeremy Hunt, delivered his second Spring Budget on 6 March 2024. This Budget aimed to appeal to the taxpaying masses, with cuts to National Insurance and a rise to the threshold for VAT registration. But was it too little, too late for the UK economy? We’ve summarised the main points, so you can see how the...

Tax won’t be top of your mind when going through a separation. But changes to the post-separation window rules mean it’s sensible to have a conversation with your tax adviser ASAP. We’ll advise you on the changes and help you plan. #tax When you separate from your partner, tax is probably the last thing on your mind. But,...

There may be occasions where your company makes payments on behalf of a client. These payments are known as ‘disbursements’ and have to be treated correctly for VAT purposes. If your clients are not able to reclaim all their VAT on purchases, it can be beneficial to show these disbursements separately on your invoices. We’ll explain how this...