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  • HMRC’s Making Tax Digital director Theresa Middleton said on Tuesday that she expected to see end-to-end MTD software in the next couple of months that will be able to keep digital records digitally, categorise expenses and produce a summary submission for HMRC. HMRC will record the details and present them to the taxpayer in their […]

  • Check out our Useful guide published in the Hampton and Stanground Gazettes here Business Expenses for the Freelance or Self Employed If you’re self-employed or work on a freelance basis, your business will have various running costs. You can deduct some of these costs to reduce your taxable profit as long as they’re allowable expenses. […]

  • LeeP tip #19- even if you aren’t officially appointed as a director – if you act as one then you are required to follow the directors code of conduct 

  • Tip #8- keep business vs out-of-pocket expenses separate. If your records are inspected by HMRC, they will check whether your bank balance in your accounts match the actual bank balance. Call LeeP to find out how we can help you keep things in order. 01733 699033 Or visit us at www.leepfinancial.com to see our affordable […]

  • If your taxable turnover is £83,000 or more over a 12 month period then you must register for and charge VAT to your customers. Contact LeeP to see how this impacts you! 01733 699033 If you do need to be registered for VAT then LeeP can do all the applications and submit your quarterly returns […]

  • Tip #7: save electronic copies of all your receipts in a folder by month. HMRC now accepts electronic copies #happyaccountant #bookkeeping

  • LeeP tip #18- set aside 1 hour the same time every week to go through your books, receipts and invoices. This instils great habits and you will spot any sticky payers early, avoid paying your suppliers late and will remember what you spent on those miscellaneous transactions much easier! Call LeeP if you’d like assistance […]

  • Are you better off as a limited company? We just saved a client £2,783 through incorporation. Call LeeP for a chat! 01733 699033 #taxsavings

  • Hot off the press! HMRC announced the results of the consultation around the Making Tax Digital rollout.  1) All non- VAT registered landlords and soletraders will need to comply from April 18.  2) VAT registered businesses get until April 2019 and; 3) limited companies need to comply from April 2020.  So that means quarterly returns […]

  • Tip #3: Empty all your paper receipts from your wallet each week and staple them together in date order ready to send to your #accountant

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