• Flat rate scheme (FRS) for VAT

    Flat rate scheme (FRS) for VAT

    The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations, although some VAT experts would argue that the scheme is not simple to use.

  • Dealing with directors' loans

    Dealing with directors’ loans

    For accounting purposes, cash transactions between a director and a personal or family company are recorded through the director’s account.

  • Photo of a “start” square on a board game.

    Payroll – how to deal with new starters

    From a payroll perspective, there are various tasks that an employer has to perform when they take on a new starter....
  • Man sat in a deckchair on a beach with his dog on his lap.

    Using a SIPP to save for retirement

    A SIPP is a self-invested personal pension which is set up by an insurance company or specialist SIPP provider. It is...
  • Woman works on a painting in her home studio.

    A guide to using simplified expenses for small businesses

    Certain unincorporated small businesses may choose to use the ‘cash basis’ when calculating taxable income, under...