Are you worried about running payroll? With ever-changing regulations, running payroll effectively is becoming increasingly complex. At HB Accountants we’ve found that these are the issues that matter most to our business clients from Hoddesdon to Hertford and Ware to Welwyn.
Category Archives: Business
Survey results: tax planning at mid-sized businesses
A new study by IFF Research for HMRC has looked into how mid-sized businesses go about tax compliance and tax planning. Whilst the businesses interviewed described their approach to tax as somewhere on the spectrum from more reactive to more proactive, almost every business relied on an Accountant or tax specialist. The reason given was that as a mid-sized business they didn’t have the right tax expertise in-house and needed support with strategy and planning as well as one-off queries to remain tax efficient. Here we look at some of the pro-active ways these businesses manage down their tax liabilities and the tax questions that Accountants can answer to ensure compliance with the law.
Disguised remuneration – loan charge review
The Chancellor, Sajid Javid has commissioned a review of the Disguised Remuneration Loan Charge. Led by Sir Amyas Morse, who is the former Chief Executive and Comptroller and Auditor General of the National Audit Office the review will report back to the Government by mid-November with recommendations, focusing on the impact of the new charge on those affected.
Why HB supports Ambition 2019
Taking place at The Spotlight in Hoddesdon, Hertfordshire this November, the Ambition Conference, is designed to inspire local businesses to grow and excel. HB Accountants has been involved with this initiative from the outset and HB’s Keith Grover will be the Chair of the organising committee for the second consecutive year. We asked Keith why he thinks it’s worth the time, sponsorship and effort that he and the team at HB Accountants put in. Here’s what he said:
“This one-day event is important because it specifically benefits local businesses, local people and local charities. It’s designed to boost the performance of your team, company or group. That’s good for jobs, business performance and the local economy.
HB Accountants are proud to be a Disability Confident Employer
HB Accountants are proud to announce that we are a Disability Confident Employer.
More and more businesses are signing up to Disability Confident every week. What does this mean to you as a business? The scheme helps your business think differently about disability and improve how to attract, recruit and retain disabled workers.
Director’s salary or bonus?
Given current tax rates, paying a dividend rather than a salary will often be a more cost-effective way of withdrawing profits from a company.
Construction services: VAT domestic reverse charge – on hold now for 12 months!
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*On 1st October 2019 HMRC’s new VAT domestic reverse charge for construction services was due to come into force, as part of ongoing moves to cut VAT fraud. The new rules require the contractor receiving services and not the sub-contractor who supplied the services to account for the Output VAT due on specific building and construction services. This change means that construction businesses will need to know whether the reverse charge applies. They’ll also need to ensure their accounting processes and IT systems can handle the reverse charge. It’s also recommended that businesses estimate and plan for any impact on cash flow if they are no longer holding Output VAT.
Fifth Ambition Conference – 12th November 2019
The Ambition Conference, which takes place in Hoddesdon, is now in its fifth year. Ambition 2019 is an inspirational event for business owners, directors, sales and marketing professionals.
HB’s Keith Grover is once again the Chairman for the event, having chaired the conference organisation in 2018.
Team HB Accountants is delighted to be amongst the sponsors, supporters and participants this year. It will be a fantastic day, so save the date.
Do you avoid these five common mistakes when you’re computing your business profits?
Avoiding common errors when computing business profits
HMRC produce a range of Toolkits for agents, which highlight errors commonly made in returns so that agents can take steps to avoid them. The business profits toolkit provides guidance on errors that are found in relation to business profits for small and medium-sized businesses. They are helpful to anyone computing taxable business profits.
Tax compliance as HMRC systems get smarter
The Government recognises that the majority of UK taxpayers, individuals and businesses, pay their fair share towards the provision of public services. Where taxpayers try to hide their obligations, HMRC now has a more comprehensive view of finances and is committed to dealing with any non-compliance. So, what information does HMRC know about you and your business?
