Accounting News And Articles

There are many options when it comes to paying your tax bill, including bank transfer, debit card, and direct debit. Payment deadlines The deadline to pay your balancing payment of tax due for the 2023 tax year is the 31st of January. This is also the deadline for the first payment on account for the 2024 tax year- please see these explained below, as they may not apply to you. HMRC accepts payments towards your tax bill via: Direct debit Bank transfer Telephone bank transfer

For many, Christmas is a respite, a time to unwind. Yet, for us business owners, it's not just a season of relaxation; it's an opportunity to reward, express gratitude, and indulge in festivities. Fortunately, HMRC provides incentives though, as usual, the rules that govern tax relief claims for your Yuletide affairs are pretty strict. Navigating the Festive Landscape: Can I claim my Christmas party as a business expense? Absolutely! Limited companies, not sole traders, can h

Today (22nd November 2023) we have heard the Chancellor Jeremy Hunts's Autumn Budget. There was a lot that was announced in this and below are a few key points we feel you will want to know about. National Minimum Wage The National Minimum Wage (NMW) has been increased for all, with the most notable increase being to the National Living Wage (NLW). To start with, the NLW has increased by more than a pound to £11.44 per hour from April 2024. The current NLW is £10.42. Curre

When it comes to setting up a business, one of the fundamental decisions you'll need to make is the legal structure of your company....

Hey there, tax season is officially upon us! Whether you're a seasoned filer or a newbie, we often find clients unsure of where to start...

Government gateway accounts prove to be really useful tools, connecting directly to HMRC to provide real-time updates on your tax standings. A personal account enables you to review personal tax codes, tax credits, self-assessment details, and child benefits, while business accounts grant access to PAYE, Corporation Tax, and VAT records. Creating these accounts can be confusing, so we've made a step-by-step guide to help you set one up! 1 - Navigate to the website- Sign in u

You may have gaps in your National Insurance record for many reasons, including low earnings, unemployment, or working outside of the UK....

In today's fast-paced business environment, small companies are constantly seeking innovative solutions to stay competitive. An example...

It's odd to think that I would have been just four years old back when my Dad, Andrew, founded Revis & Co 25 years ago. I started working...

This year at Revis & Co we are celebrating our 25th Anniversary on May 1st! We now have 6 full-time employees including myself, with an...

Chancellor Jeremy hunt has unveiled the contents of his first budget today. There were quite a few interesting announcements- we have...

Following a government announcement today (19/12/22), self-employed individuals and landlords have been given more time to prepare for...

Tax returns are the most commonly put-off jobs we deal with in accounting. No-one wants to complete them on April 6th, in July you think...

Taking on an apprentice can be quite daunting as there is a lot you need to think about. Unlike taking on any other staff member,...

Due to the current climate, we are all rightfully apprehensive of the energy bills coming our way this winter. This article outlines what...

Today chancellor Kwasi Kwarteng announced changes to tax legislation in the form of a mini-budget. Here are the most important updates!...

Each and every business activity will have some kind of impact on the environment, so it is very important to have an understanding of...

The concept of going paperless can be quite a scary thought and for some of our clients was a huge no. However, with the technology available to us today and the various apps that we can provide that link into your accounting software, it is actually an extremely easy process and can help to save you time and money! Part of my role with Revis & Co is business development and digital transformation. What this means is to look at what technology is available to us and what tech

We recently spoke to Andrew, who started Revis & Co Accountancy Services Ltd in April 1998. From this experience and helping business start-ups over the years, he has gained invaluable skills and knowledge on how to start a business. We asked him for some easy pointers on what the best way to start a business is in 2022, and this is what he said. Firstly, you need an idea of what business you wish to run- what are your skill sets, and do you have the dedication and motivation

Today Chancellor Rishi Sunak announced the Government's 2022 Spring Budget, which included various things that will affect businesses and individuals. We have summarised what you need to know below: Cutting fuel duty by 5p per litre The cut is in place from 6 pm on 23rd March 2022 The cut will last for the next 12 months Increasing Employment Allowance from £4,000 to £5,000 The employment allowance is a relief that eligible businesses can use to reduce the amount of Employer