Why is an Accountant Good for my Small Business?

Accountants can sometimes be seen as too expensive, or a luxury only needed for bigger companies, but there are a number of ways in which accountants are helpful for even the smallest of businesses. Saving Tax I was speaking to a business owner recently who had prepared his own accounts and tax return for a… Continue reading Why is an Accountant Good for my Small Business?

Tell us how we’re doing!

If you are a client of ours, you may have already received one of our bespoke feedback surveys. You may have even thought to yourself “I wonder if anyone actually reads these?” well... the answer is yes! The feedback forms which we receive are read out to the whole team at our weekly team meeting… Continue reading Tell us how we’re doing!

Childcare and employer provided childcare vouchers.

Are you a working parent with a child entered into child care? You could benefit from a cash saving scheme that works with childcare providers.................. Childcare vouchers are a government approved benefit for all eligible working parents. These are a tax efficient way of paying for childcare that won’t cost you anything to join. Most… Continue reading Childcare and employer provided childcare vouchers.

Why do Management Accounts?

After seeing the shock on clients’ faces when they are told of their company and personal tax liability from their year end accounts, or issues with internal costing resulting in low profits, monthly, or at least quarterly, management accounts are vital to ensure that business owners are fully aware of the current position of the… Continue reading Why do Management Accounts?

Goodbye Annual Return Hello Confirmation Statement

  From 30 June 2016 the Confirmation Statement replaced the Annual Return. The Confirmation Statement is intended to serve roughly the same purpose as the Annual Return but rather than providing a snapshot of your company data at a specific date, you now need to confirm that the information held at Companies House is accurate… Continue reading Goodbye Annual Return Hello Confirmation Statement

Extending your PAYE payment deadline the easy way

We all know it is very important to pay your taxes to HMRC by their deadlines to avoid any late payment interest and penalties. The statutory deadline for paying Employers PAYE liability is the 22nd of the month – or the 19th if paying by cheque through the post. Different ways to pay your PAYE… Continue reading Extending your PAYE payment deadline the easy way

Charity Of The Year

Each year at Torr Waterfield we choose a charity, local or national, to represent and raise money for.  Previous charities we have supported are The Epilepsy Society, Bamboozle Theatre Company, Keep The Beat and many more. This year we have chosen L.A.M.P. (Leicestershire Action for Mental Health Projects). LAMP works to support those in mental… Continue reading Charity Of The Year

People with significant control (PSC) – The New PSC Register

From 6 April 2016, Limited Companies, LLPs (Limited Liability Partnerships) and SEs (Societas Europea) are required to hold a register of people with significant control (‘PSC register’).  This is part of the government’s commitment to increase transparency in ownership and control of companies. A PSC is anyone in a company, LLP or SE who meets… Continue reading People with significant control (PSC) – The New PSC Register

Automatic Enrolment – What should I do if I’m not an employer?

Following on from Becky’s blog back In November: ‘Help – I’ve received a letter from the Pension Regulator’ I’m sure there are some of you wondering what you should do if you do not employ anybody, and consequently don’t have anybody on your payroll, or are a director only company. Automatic enrolment duties do not… Continue reading Automatic Enrolment – What should I do if I’m not an employer?

When do I need to register for VAT?

You must register for VAT when your VAT taxable turnover exceeds the ‘VAT registration threshold’ of £83,000. This is calculated on a rolling 12-month basis and is not solely based on your year-end accounts turnover ... so please be aware of this! What happens if I don’t register in time? If you forget to register… Continue reading When do I need to register for VAT?