Looking forward to your future

Our passion as a team is to help your business to succeed as well as providing peace of mind on all compliance matters, and all built on strong client relationships and providing outstanding service.

From 1 April 2019, VAT returns are changing for the majority of organisations as you’ll need to keep digital VAT records and submit your VAT return electronically to HMRC, using accounting software that interacts with HMRC’s portal. This is due to the Government programme, Making Tax Digital (MTD), which is part of their move to digitise and streamline the monitoring and collection of tax.

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This month sees the team at HB Accountants celebrating Karen Chase’s birthday on the 13th of April. We all wish Karen well and for someone who works so hard, it’s great her birthday falls at the weekend this year, so she’ll be able to relax and celebrate. Karen shares her birthday with the fifth Doctor Who and All Creatures Great and Small actor, Peter Davison, as well as the actress, writer and comedian Catherine Tate, known for her comedy characters and her role as Donna Noble in Doctor Who.

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The Flat Rate VAT Scheme is an incentive provided by the government to help simplify taxes. This means you can reclaim VAT on purchases that you have been charged on from HMRC.

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As it is a new Tax Year, we have compiled a Tax Card which details the new rates for 2019-2020 – see below to download or receive a hard copy.

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The end of the 2018/2019 tax year is fast approaching and businesses and individuals should be seeking to plan ahead in order to minimise the tax bill.

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Chancellor delivers Spring Statement amid ‘cloud of uncertainty’

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Annual Accounts are very familiar to business people. Every year statutory reports which comply to specific accounting standards must be filed with HMRC and Companies House. But what about Management Accounts? There is no legal obligation to generate them. Why then, do so many organisations depend on Management Accounts in running their operations and could you be benefitting from them too?

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The IR35 ‘off payroll’ rules will be extended to the private sector from 6th April 2020 onwards. What exactly does this mean, and what can contractors do to prepare in advance for these legislation changes?

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Better business decisions lead to stronger businesses, with higher turnover, lower costs and greater productivity. Business leaders and owners, including those in medium sized, and small fast-growing businesses, use Management Accounts as a tool to provide them with financial performance information. For charities Management Accounts are often vital to provide Trustees with the information they require to provide good governance for the organisation. Could your organisation benefit from regular Management Accounts?

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There’s a good deal to think about when running payroll. But the overriding concern is that your payroll must be right, as employees need to be paid correctly and on time. As an employer you are responsible for managing payments, reporting on pay, and paying HMRC, not to mention handling workplace pension contributions, administering childcare vouchers and managing salary sacrifice schemes too. Many companies seek outside help in order to handle their payroll effectively.

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