Accounting Blogs: Tax & Accountancy Advice for Small Businesses

Here at Keith Graham Chartered Accountants and taxation specialists we are dedicated to keeping our clients informed and abreast of techniques or practises which will improve the way they treat their accounts and taxation requirements. We also have a regularly updated resource centre helping you to manage your money more effectively, please feel free to take a look.

Our blog and news posts are dedicated to all things accountancy, taxation and auditing and designed to include information on helping small businesses, personal taxation questions answered and many more subjects in-between.

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16 Jun 2021

What is HMRC voluntary disclosure and should you do it?

When it comes to handling your finances, honesty is the best policy. Whether you’re self-employed or run a business, managing your taxes can be stressful and occasionally mistakes do happen unintentionally. No matter how long you’ve been declaring your income there’s always a possibility that errors can occur but did you know that there’s an opportunity to rectify your mistakes?

16 Jun 2021

What is the construction industry scheme and what does it mean for you?

If you are self-employed in the building or construction trade, then it’s your responsibility to manage your taxes. But, are you clued up on your obligations? The Government’s Construction Industry Scheme (CIS) is a way of reducing tax evasion in the construction industry and helping subcontractors spread their tax liabilities over the financial year.

10 May 2021

What Does the 2021 Budget Mean for My Small Business?

The annual 2021 Budget contained some key information that will directly impact small businesses. Rishi Sunak’s plans to extend furlough and continue the self-employment grant certainly give small businesses a reason to feel positive about the upcoming year. However, a real concern for many was how the 2021 Budget would focus on supporting smaller businesses and those who are self-employed.

10 May 2021

What Does the 2021 Budget Mean for Me As An Individual?

The annual Budget made to the House of Commons by the government's chief minister of finance is something that many people pay attention to. Nevertheless, a year on from the beginning of restrictions being made due to COVID-19 and the insurmountable financial strain faced by the UK government, this year's 2021 budget feels particularly significant.

13 Apr 2021

Submitting a Self-Assessment tax return: A Step-by-Step Overview

At Keith Graham Chartered Accountants, we recognise that figuring out how to submit a Self-Assessment tax return can be stressful, especially if this is a completely new system to you. That’s why we’ve put together this simple, step-by-step guide with everything you need to know. Read on to make sure you are well-equipped to submit your next personal tax return efficiently and correctly.

01 Apr 2021

Tax Calendar for 2021/22: Key Dates for Self-Assessment Tax Returns

Tax. We all have to pay it! Nevertheless, recording financial information and submitting Self-Assessment tax returns yourself can be daunting. There are regulation changes to consider, calculations to make correctly, and of course, a calendar of important dates that you don’t want to miss!

12 Mar 2021

How Important Is It To Have a Business Exit Strategy?

No one starts a business expecting it to fail, but the reality is that around 80% of companies don’t survive beyond their first year. The importance of an exit strategy can’t be underrated and it’s vital to consider how you’ll exit your business if the time comes.

01 Mar 2021

How to Manage Your Cash Flow as a Freelancer

Working freelance has many advantages, including flexible hours, the opportunity to be your own boss and more control over your career. However, many freelancers know that periods of financial instability can make it stressful to work this way.

12 Feb 2021

How can businesses apply for the Cycle to Work scheme as an employer?

Encouraging employees to choose a healthier and more environmentally-friendly alternative to driving to work is much easier with help from the UK government’s Cycle to Work scheme

01 Feb 2021

How to start a pension when you are self-employed

Going self-employed is becoming increasingly attractive to many people, however, there’s much more to self-employment than taking long lunches and setting your own dress code!

18 Jan 2021

How to Collect Money Owed to a Small Business

Times are incredibly tough for small businesses across the length and breadth of the country - and the world - during COVID. We have all had to adapt and almost no one will come out of the situation unscathed.

06 Jan 2021

How Is Rental Income Taxed for Landlords?

Like most profit-generating business ventures, landlords must pay a tax on the profit they make from renting a home. If you are renting a home while in full-time employment, it’s likely that you will only have to pay income tax on your profits.

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