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Chartered Certified Accountants
and Business Advisors

01530 267320

Latest news

15 Oct 2018

Childcare Vouchers Scheme is now closed!

From 4th October 2018 the childcare voucher scheme is closed to new entrants, meaning those employees who are not registered cannot join and making savings to their childcare costs. If employees are already in the childcare voucher scheme then they can carry on using it as long as they stay ... (click to read more)

09 Oct 2018

Proposals for EU nationals post-brexit

Those currently loving in the UK but who don’t hold a British passport can apply for a settled status which is known as UK residency. If they get this then it gives them the right to live, work and study in the UK and can have access to state ... (click to read more)

03 Sep 2018

Rent a room scheme

One way many people improve their bank balance is to rent out their spare room! By signing up to the Rent a Room scheme, not only would you enjoy the extra income from the rent, but also up to £7,500 a year is tax free! The be eligible for the ... (click to read more)

03 Sep 2018

VAT on E-Books

Currently, electronic books are subject to members states’ higher standard VAT rates. However, their printed versions are reduced or nil VAT rates. In February 2018, there were intense discussions that could lead to zero or reduced rates to be applied to electronic publications from 2019. If the change is ... (click to read more)

20 Aug 2018

Payments on Account

Payments on account are payments made in advance towards your tax bill. You will have to make 2 payments on account every year unless your last Self-Assessment tax bill was less than £1,000 or you have already paid more than 80% of all the tax you owe. Each payment ... (click to read more)

10 Aug 2018

What you need to know when your Company is Dormant...

A dormant company is not accountable for corporation tax purposes. There is no need to let Companies House know that you are not trading until it is time to file your annual accounts. However, you must tell HMRC as soon as you cease to trade and the company is ... (click to read more)

10 Aug 2018

Sence Alphabet

Do you know your Sence Alphabet? Annual Accounts Bookkeeping Compliant Digital Experienced Team Financial Support Growth for your business HM Revenue & Customs Income and Expenditure Jargon-free service Kashflow Software Landlords Management Accounts Networking Outsourcing your service Payroll & Auto-enrolment Quickbooks Software Record Keeping Support Taxations Unique Taxpayer Reference (UTR) Value Added Tax (VAT) Wages Xero Software Year End Zero-Rated vat If you need help with any of these please get in touch with Sence today ... (click to read more)

09 Aug 2018

VAT on hotel deposits

When you book a stay at a hotel for business use you usually have to put a deposit down at the time of booking, however, plans may change in the meantime or even be cancelled. Some hotels will happily provide a VAT invoice for the amount they have retained ... (click to read more)

30 Jul 2018

Is it a Car or is it a Van?

The argument about whether a vehicle is a company car or van is back. It’s the differential in tax payable on company vans versus company cars that has made it attractive to try to ensure that a vehicle is classified as a van rather than a car. The private ... (click to read more)

30 Jul 2018

Teachers to have loans reimbursed

The government have now published details of how teachers in shortage subjects in certain parts of the country will be able to have their student loan payments reimbursed. The scheme will not affect employers so all newly appointed teachers should still complete a starter checklist, unless they are making ... (click to read more)

24 Jul 2018

Tax and Paid Carers

When you foster children your local council will give you payments. HMRC treats paid foster and other carers as running a business for tax purposes, which means they might have to pay tax on money they receive. In this case there is a special tax relief called ‘Qualifying Care ... (click to read more)

24 Jul 2018

Can a director be paid before trade begins?

New Companies often incur start-up costs before they begin trading. But… is it sensible from a tax and NI point of view for directors to start taking income before the business generates money? The amount and type of start-up costs which businesses incur vary widely, as can the time ... (click to read more)

24 Jul 2018

Vat when incorporating your business

The motive for incorporating a business, that is working through a company instead of being self-employed or in partnership, is often to reduce tax on profits and allow for more flexible tax planning. VAT doesn’t usually figure in the decision as the rules work similarly whatever the business structure. ... (click to read more)

Click here to view the news archive

Latest news

Childcare Vouchers Scheme is now closed!

From 4th October 2018 the childcare voucher scheme is closed to new entrants, meaning those employees who are not regist...

Click to read more >

Proposals for EU nationals post-brexit

Those currently loving in the UK but who don’t hold a British passport can apply for a settled status which is known a...

Click to read more >

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Testimonial

If you want peace of mind and a professional service I would highly recommend Sence Accounting.

Paul Flowers
Bow Boutique Limited

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