VAT – what is it and who needs it

What is VAT? Value Added Tax (VAT) is one of the most prominent words that orbits the world of business. You often hear comments mentioned such as, ‘is that plus vat?’ ‘that’s zero rated vat,’ ‘have you filed your VAT Return?’ But What is it? VAT is a form of tax that forms an additional …read more

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What is IR35 – inside or outside?

IR35 legislation was introduced in April 2000 with the aim to reduce the number of contractors who were avoiding PAYE and national insurance via the use of an intermediary company. Basically, if you are a contractor operating through a limited company but working very much like an employee of your client, then HMRC deems that …read more

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What is a Limited Company?

As accountants, our job is to advise you about the best structure for your new business venture. We get lots of questions about the most tax efficient way to set up a company, the day-to-day running of it and most importantly, how you can pay yourself! One of the most popular and best structures to …read more

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Your Social Media Marketing Strategy – How to Get Started!

So, you’ve got a smart new product developed for quite some time. It has the enormous potential of becoming an industry innovation while attracting high volumes of attention and investments for your entrepreneurial project. However, as a new start-up with limited resources, your advertising budget is limited, SEO promotion takes ages to generate any significant …read more

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Can’t pay your tax bill? What can you do?

As though you need any further reminding, but the tax return deadline is shortly upon us and you only have a few days left to file your personal tax return with HMRC.  However, don’t forget the deadline for paying any tax due on that return and any first payment on account for next year is …read more

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Lost, misplaced or don’t have a UTR?

You don’t have time to waste. The deadline for filing a self-assessment tax return is days away and to successfully submit your return to HMRC, you must have a Unique Tax Reference number, called a UTR to hand. This 10-digit number is used to identify you with HMRC, stays with you each year while you …read more

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Self Assessment Late Filing Excuses

With Christmas and New Year becoming a distant memory, the accountants at Clever Accounts quickly turn their attention to the looming self assessment tax deadline. As with every year, the deadline to file a self assessment tax return is 31st January otherwise a penalty will be imposed by HMRC.  Each year, many individuals fail to …read more

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Christmas Opening times

With Christmas a couple of weeks away and office parties in full spirit, we thought it’s be a good time to let you know our opening hours during the festive period. December 2017 Friday 22nd Normal opening hours Monday 25th Closed Tuesday 26th Closed Wednesday 27th 10am – 4pm Thursday 28th 10am – 4pm Friday …read more

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The Christmas party season is upon us!

With the festive season in full swing and Christmas parties being the talk of the office, it is worth considering what expenses you can claim through your limited company. The “Annual Party” As a director of a limited company, you are exempt from paying tax and National Insurance on a party or similar social function, …read more

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Autumn Budget Headlines

The waiting is over, and we finally have the detail of the Autumn Budget 2017. The main issues for contractors and freelancers, and small business generally were addressed as follows: IR35 in the private sector Change to the IR35 rules in the private sector, mirroring those implemented in the public sector, were widely expected.  IPSE …read more

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