Small Business Accountancy Advice
...Everything You Need To Grow Your Business
Small public bodies like parish councils, fire and rescue authorities and even police services are expected to present full reports of how they're managing their affairs. With the public purse strings tightening and dwindling budgets all over the public sector, small public bodies can expect their accounts to be under ever-closer scrutiny.
Enter the challenger banks - and unlike their increasingly timid bigger brothers, some of them don't even have doors to slam in your face!
Okay, assuming you can hear us over the screaming and the panicking and the huge chunks of falling sky, it's time we talked about VAT MOSS, and how (or if) it affects you. Since the 1st of January, the rules on VAT have changed so that tax on digital services within the EU is based on where the purchaser is, rather than the seller. It's actually a move designed to stop large businesses from routing all their sales through low-VAT countries to minimise the tax they pay. Unfortunately, it's having a lot of unintended knock-on effects on small businesses.
Crowdfunding's one of those magical ideas that lightning-bolts its way into the business world every so often. The continuing explosion of the internet and the speed with which traditional lending institutions have been sucking their heads back into their shells have left a gaping hole in the funding arena, and a whole new way of raising finance has grabbed itself a foothold.
Self Assessment isn't just about checking for unwelcome lumps - although you should probably be doing that too. It's also the way HMRC gets you to do a load of their paperwork for them when you're paying yearly taxes for yourself or your business.