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  • We’ve all heard that annoying radio advert about your tax return deadline from HMRC which gets aired every 5 minutes around each January – well, if you want to feel smug about it next time you hear it read on…   January 2018 seems months away, but you may have already received a letter from […]

  • Do my eBay earnings constitute a business? First of all, you are liable to pay income tax on the profits from any business; the fact that you are using eBay to conduct this business is largely irrelevant. You do not have to declare or pay income tax on profits made from selling unwanted items which were […]

  • Can You Be Employed and Self-Employed at the Same Time? Confused about whether or not you can be employed and self-employed at the same time? LeeP Accountants looks at the legality and logistics of such a working scenario. LeeP Accountants in Peterborough get asked this question a lot: can I be employed and self-employed? It is […]

  • You’ve decided that you need an Accountant, so how do you choose a good one? The role of ‘accountant’ is not officially regulated which means people can call themselves accountants whether they are or not. People without any professional qualifications at all can quite legally call themselves an accountant so it’s important to be cautious. […]

  • There are good reasons for hiring an accountant at different stages of your business’ growth. From a business plan to company formation, mortgage application to tax investigation, an accountant can make life easier for you at each step. Like all small business owners who are looking to save money, you may think you can’t afford […]

  • You’ve probably heard of it, you may well have a good idea of what it is, but many small business owners we’ve spoken to are a bit flummoxed by what a Trial Balance actually is! A Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first […]

  • You Saw our first 5 list of tax mistakes a couple of days ago here, here are the next 5! Make sure you’re not doing them! 6. You’re misclassifying your employees, including your spouse Your tax liability will be different depending on if you use independent contractors, employees, or a mixture of both. Employees must […]

  • Changes to the VAT Flat Rate Scheme Today – A reminder   Flat Rate Scheme (FRS) This is a timely reminder for all businesses using the FRS that changes to the scheme come into effect TODAY: 1 April 2017. The first matter to consider is if your business is a “limited cost trader”. You can check whether […]

  • As technology and the marketplace continue to move forward at a rapid pace, many small businesses can be left wondering what’s next. It’s important to see the trends before they happen so you can capitalise on them for your business. Being one step ahead could mean the difference between a profitable year, and a bankruptcy. […]

  • There is often confusion around what records you must keep in your Company, how long you should keep them for and what format they must be kept in. LeeP’s guide can help demystify these questions for you:   Limited Company Records: You must keep details of: directors, shareholders and company secretaries the results of any […]

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