Some non-VAT registered businesses have recently received letters from HMRC claiming that they are trading above the VAT threshold. Any business that has received such a letter needs to act quickly. They should share the letter with their tax agent/accountant then work together to review the rolling 12-month turnover figures.
Do you want to be in greater control of your business? Make decisions based on facts such as when you typically increase sales and, therefore, need to employ more sales people or to change tack and boost your marketing spend in a particular sector, for instance. The answer is a set of accounts that is not required by law and does not have to be filed with HMRC – known as management accounts, these are numbers that give you a true picture of your business and will put you in greater control of your business than ever before.
Continue readingTurning your business green to become more environmentally-friendly is more than just a positive environmental choice. Customers and employers are deliberately seeking out businesses with ‘greener’ working practices as sustainable living and working grows in importance. We’ve seen a huge increase in the number of social media posts about it, for example, and our recent article about the tax and environmental benefits from driving an electric car was one of the most popular blogs ever. It’s clear that as well as being good for our planet, there are economic benefits of going green.
Continue readingSuper-deduction, a new capital investment allowance, has been introduced to boost business investment and help economic recovery. It is a great incentive to encourage businesses to invest in plant and machinery and there are very few exclusions on what can be purchased. Available for two years from April 2021, the 130% capital allowance deduction will deliver 25p off company tax bills for every £1 of qualifying spend.
Continue readingThis month we are excited and delighted to be celebrating Karen’s 25 year anniversary at HB Accountants. Karen joined us on 13th May back in 1996 (the very same year that five bundles of trouble called The Spice Girls* were unleashed, Changing Rooms turned us into DIY lunatics and Take That decided to split**).
Continue readingWould it make you feel great knowing that your accountant is actively striving to minimize their impact on the environment and by choosing to partner with them would help the planet just a tiny bit more by a tree being planted?
Continue readingMany businesses and individuals change accountants. Maybe your needs have changed as you’ve grown and you want to work with an accountant offering multiple services. Or maybe working with an accountant based nearer to your offices will give you the benefit of a more personal service? Whatever the reason, once you know what you need, you can begin the search for a new partner. But what happens when you find the accountancy practice that’s right for you? And what do you do next? Here’s the answer.
Continue readingYour business has survived ‘lockdown’ and restrictions are starting to ease. But what next? The most challenging times for businesses still lay ahead. Action Coach Yiannis Yianni is keen to spread his message that “those businesses that try to carry on as they were before may, sadly, not survive” – he has a plan.
Continue readingThe Bounce Back Loan is designed to inject much needed cashflow to businesses to get the cogs of the economy moving again. If your limited company cannot bounce back, and has to close down, what happens? Well, usually bank borrowing is underpinned by a director’s personal guarantee which results in you having to repay the debt, when you’ve just lost your income. Ouch!
Continue readingQuite often we hear “I am a business owner but my company finances are not the first thing I think about when I get out of bed in the morning!” We get this! That’s why we’re here!
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HB Accountants is the trading name of HBAS Limited, a company registered in England with registration number 5085258. The registered office of HBAS Limited is Plumpton House, Plumpton Road, Hoddesdon, Hertfordshire EN11 0LB, England. Registered for VAT number 866062806.