Registered charities and Community Amateur Sports Clubs (CASCs) can claim an additional 25p for every £1 donated by an individual. This whopping 25% boost on donations is known as Gift Aid and it can soon add up. As accountants working with a number of charities, we are well aware of the difference this extra money can make to that fantastic work you are all doing.
Continue readingCategory Archives: Tax
HMRC told our client to wait 6 months for tax refund to be processed – not on our watch!
James* is 22 years old and is self-employed. He has successfully claimed the SEISS, as his business was negatively financially impacted during the Covid19 pandemic – he wasn’t able to work during most of the Covid19 lockdowns.
Continue readingWhat does MTD Making Tax Digital mean for sole traders from 2023 – MTD for Income Tax
Making Tax Digital for Income Tax Self-Assessment becomes law on 6 April 2023 and aims to make tax accounting easier for businesses and individuals such as sole traders by legislating the digitalisation of tax data and submission.
Continue readingHow going green is good for your business
Turning 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 readingHB Accountants are looking for a trainee accountant apprentice and a business administration apprentice to join the team – could an apprenticeship be for you?
HB Accountants are training firm in Hoddesdon, Hertfordshire, and we are all about empowering and inspiring young people to be the very best versions of themselves. As part of our Corporate Social Responsibility strategy, we have developed an Education Partnership Programme (EPP) and for many years have worked in partnership with Hertford Regional College, taking on apprentices from local schools.
Continue readingReduce your employers’ NIC liability and your employees taxable benefits by switching to fully electric vehicles
If an employee is provided with a car by their employer, tax is payable on the cash equivalent of the of car provided. The cash equivalent of the company car provided is calculated by taking the list price of the car, multiplied by a certain percentage, this percentage depends on the amount of carbon dioxide emitted by the car.
Continue readingBe Prepared – changes to furlough from July 2021
Furlough has been extended until 30 September 2021, however, the level of grant available to employers under The Coronavirus Job Retention Scheme is set to reduce from 1st July, 2021. This means that employers will need to ‘top up’ wages to ensure that their employees continue to receive 80% of their salary, capped at £2,500 per month.
Continue readingEmploying your teenager to work for you
When your child turns 13 years old, they can legally work for your limited company. There are restrictions on what work they can and cannot do – no chimney sweeping allowed! This could be a good opportunity for your child to learn more about business and for your company to benefit from additional support.
Continue readingHow to start and run a limited company – free Companies House webinar
Did you know that Companies House offer free Webinars and podcasts to help you with your business? Take a look at their latest webinars and find out how to register, their next webinar Starting and Running a Limited Company looks to be a great free resource
Continue readingAre you using all your Tax Allowances? Use Them or Lose Them – learn more here
So many people aren’t claiming all of the allowances that they are entitled to – don’t be one of them! HB Accountants are on a mission to let people know (and claim what’s rightfully theirs’ to use) all the allowances and tax breaks, to improve the financial future for themselves and for their families – our Tax Manager Amy is here to help
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