What is bookkeeping? Bookkeeping is the accurate recording and processing of financial transactions for your business allowing accounts to be prepared. Why is it important? In summary, keeping bookkeeping up to date is an important part of running a business and can help in various ways as it allows a clear understanding of the businesses […]
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Chancellor Rishi Sunak has announced key COVID-19 extension support measures, including furlough scheme, hospitality VAT cut and business rates relief. Furlough Scheme extended The Furlough scheme will be extended until the end of September. For employees, there is no change to the terms. The government will continue to pay 80% of salary for hours not worked. […]
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The UK finally reached an agreement on the terms of departure from the EU at the eleventh hour, which became effective at GMT 11 pm (ironically) on 31st December 2020. But was does this mean for UK businesses in respect of the charging, reclaiming and reporting of VAT relating to EU trade? With any legislative […]
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What is Tax Relief on Pension Contribution? To be eligible for tax relief you first need to enrol for pension, which is normally done through your employer. If you are aged between 22 and state pension age and earn more than £10,000 per year, then you will be automatically enrolled for workplace pension by your […]
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