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The latest news from Accountancy Solutions
If you’re about to head out on the road to becoming a sole trader or are thinking about making the change to a limited company, you may find yourself wondering about the pros and cons to both. We’ve created this guide on self-employed vs limited companies to tell you about the potential benefits and disadvantages
If you’re new to contracting or sub-contracting in the construction or building industry, the HMRC CIS scheme can be a bit confusing to get your head around. But don’t worry, we’ve got you covered! Keep reading to find out everything from what the HMRC construction industry scheme is, to what’s covered by it. What is
If you’re just starting off with your small business or tackling it alone as a self-employed individual or sole trader, there’s a wealth of complicated accounting terms which can be difficult to get your head around. Here at Accountancy Solutions, we want to make your life easier which is why we’ve created this guide to
As the name suggests, if you’re a sole trader you’re someone who runs a business as an individual. There’s no differentiation between you or your business, so you’ll be personally responsible for any losses and business bills. It’s also your responsibility to make sure that you keep accurate and up to date records. If you’re
If you’re just starting out with your career as a self-employed individual, National Insurance and income tax can be a bit of a minefield. And, it can be extra confusing if you’ve always worked for a business and are used to your company handling it all for you. If you’re struggling to get your head
It’s not always easy getting your self-assessment tax return in on time. Sometimes you may just simply forget with your busy working schedule, or you may have a family emergency that prevents you from filing before the deadline date. Unfortunately, when you forget to either send it to HMRC or pay on time, there will
HMRC Making Tax Digital (MTD) is a change to how businesses and self-employed individuals keep their accounting and tax records and communicate with HMRC. Created with the aim of making the entire process more streamlined and much easier, the new initiative will require those who need to register for Making Tax Digital to send regular
Many people are put off becoming self employed or setting up their own small business due to the complex financial responsibility that comes with it. You might be well qualified and passionate enough to go it alone, but you may also be concerned about understanding your finances, the current laws and legislations, as well as
Before we can get started in helping you take back control of your finances, we’ll need you to fill in a 64-8 ‘authorising your agent’ form. This enables Accountancy Solutions to act as your official agent, allowing us to deal with HM Revenue and Customs (HMRC) on your behalf, relieving you of all the stress
Finding a personal accountant that you trust can be a real struggle. You need someone that will take good care of the financial side of your business and is also always on hand to discuss any possible concerns that you may have. When you choose Accountancy Solutions you’ll be provided with your own accounting consultant
