Practical, plain-English guidance on audit, tax, VAT, accounts and advisory — written by our chartered accountants.
1224 articles · page 28 of 102
Transferring shares in a private company takes one short document — the stock transfer form — and a decision about stamp duty that turns on a single threshold. Consideration of £1,000 or less…
Read articleA members' voluntary liquidation is what you use when a company has done its job and the shareholders want the money out. The company is solvent, the debts are paid in full, and the surplus is…
Read articleWrongful trading is the rule that makes directors personally liable for continuing to trade when they should have known the company was finished. It is not fraud and it does not require dishonesty…
Read articleA cash car allowance is pay. It goes through the payroll, it is taxed as earnings, and it attracts Class 1 National Insurance from both employee and employer — which is why an employer paying…
Read articleSelf-billing inverts the normal VAT invoice. Instead of the supplier invoicing the customer, the customer raises the invoice on the supplier's behalf and sends it to them, along with the payment.…
Read articlePlastic packaging tax is charged at £228.82 per tonne from 1 April 2026 on plastic packaging containing less than 30% recycled plastic . It applies to manufacturers and importers handling 10…
Read articleThe single most common cause of tax distress among the self-employed is not the rate of tax. It is the January bill in the second year of trading, when the balancing payment for last year and the…
Read articleEvery UK business has to keep records, and the periods do not all match. A limited company keeps its accounting records for six years from the end of the financial year they relate to; failing to…
Read articleThe Christmas party is tax free up to £150 a head — and that figure is an exemption, not an allowance, which is the distinction that turns a well-intentioned staff event into a benefit in kind on…
Read articleThe capital goods scheme spreads VAT recovery on expensive assets over a decade, adjusting it each year as the use of the asset changes. It is the reason a business that recovered VAT in full on a…
Read articleBusinesses do not usually fail because the annual budget was wrong. They fail because nobody knew, in week three, that week eleven was going to be short. Cash flow monitoring is the discipline of…
Read articleTwo people start a business together, shake hands, and agree to split it down the middle. Five years later one wants out, one has stopped turning up, and there is no document. What governs them is…
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