I have written this post to clarify some of the common questions that have been brought to my attention while working with contractors and subcontractors within the UK construction industry. In some cases, it can get a bit confusing as…
If you work in construction in the UK—whether as a contractor, a subcontractor, or both—it’s essential to understand how the Construction Industry Scheme (CIS) works. The CIS is designed to regulate the way payments are made from contractors to subcontractors,…
How often do we want to share electronic documents with our clients, employees, or others—whether in Microsoft Word, Excel, PDF, or other formats? While we can email files, it is not always the best option. We may want to share…
It is not uncommon for small business owners or directors to pay for personal expenses using business funds. This is sometimes done on purpose (when the director needs extra money) or by accident (such as paying for personal expenses using…
This is a brief informal post on some points that you should consider or at the least keep in mind when you have setup and are running a UK Limited Company for your business. The points and information below are…
Taking Money from your Ltd Company As an owner-director of a UK Ltd company, your objectives include minimising both your business taxes and personal tax liabilities. A question you may be asking yourself is: how do I take money out…
What Are the Rules for Mobile Phone Usage by Employees and Directors? As with many business tax regulations, it is not always straightforward. This is a basic guide covering some of the relevant points. In broad terms, your business cannot…
Understanding Trivial Benefits – A Win-Win for Directors & Employees! Trivial benefits are something your UK limited company should consider and possibly implement. You can provide tax-free trivial benefits to your employees, including yourself if you’re a director or other…
In the world of business and tax, there is often confusion over what your limited company can pay for and the tax implications involved. As a business owner, you want to reward your employees for their hard work and show…
Torn, screwed up or lost receipts for business expenses Lets discuss a better system to get the receipts across to your bookkeeper. Contractors and subcontractors within the Construction Industry Scheme find this a significant problem. They will often have deliveries…
In the dynamic landscape of modern business, staying ahead requires more than traditional processes. The shift towards Digital Receipts and digitising key financial documents such as supplier invoices is not only a step towards efficiency but also a necessity for…
Automate bill entry with Xero As a bookkeeping professional, I am passionate about leveraging technology to simplify and enhance accounting processes. A frequent challenge businesses encounter is efficiently entering bills into their accounting software. Fortunately, Xero offers some great solutions…