Category Archives: Cotswolds

IR 35 Contractors are “right to be fearful of HMRC reform

Most self-employed workers believe that IR35 is the biggest threat to their business in 2022   Continuing scepticism from contractors around new IR35 rules is justified with public attention having been momentarily diverted from the issue due to the pandemic, the war and other economic factors. IR35: A ‘forgotten crisis’ The introduction of IR35 reform […]

Spurious R&D claims an unbelievable drain on company resources

Abuse of the tax system will highlight the value of trustworthy advisers   The significant time and resource loss associated with HMRC inquiries into potentially fraudulent research and development (R&D) claims highlights the need for enhanced diligence. The finances, depending on the claim, could be significant, but the resources required to deal with an inquiry […]

Glos SMEs should choose MTD software wisely as April 2022 deadline fast approaches

Glos Small businesses should review end-to-end VAT process to ensure it is fully compliant with the upcoming MTD for VAT rules As the deadline for Making Tax Digital (MTD) for VAT approaches, accountants urge businesses to choose wisely when it comes to adopting MTD compliant software to ensure a smooth transition. Once the right MTD […]

HMRC defers Self Assessment penalties for Glos online filers

HMRC is deferring Self Assessment penalties for Glos online filers – ESB update. ESB Accountancy effectively detail the HMRC details as: 1. No penalty for late lodgement as long as return submitted by 28 February. 2. No penalty for late payment provided pay off in full by 1 April or set up a payment plan […]

3 reasons bookkeepping cost cutting creates absolute chaos in Accounting & Bookkeeping firms

3 reasons bookkeepping cost cutting creates absolute chaos in Accounting & Bookkeeping firms Honestly, it doesn’t matter what kind of business you’re running, if you have clients who pay you low fees, it creates chaos on many levels. But we’ll get to that in a second. Why do cheap clients create absolute chaos? There are […]

Glos SMEs focus on growth and turn to Recovery Loan Scheme

Glos SMEs focus on growth and turn to Recovery Loan Scheme Small business owners in Gloucestershire are feeling optimistic about economic conditions for growth, according to iwoca’s quarterly SME Expert Index of UK brokers. • Growing the business is the most important reason cited by SMEs accessing finance, overtaking ‘managing day to day cash flow’ […]

Create, protect and sustain value – the role of accountants as trusted professionals at the heart of sustainable organisations

Create, protect and sustain value – the role of accountants as trusted professionals at the heart of sustainable organisations Analysis from ACCA (the Association of Chartered Certified Accountants) uncovers the drivers of change shaping sustainable business and the must-have capabilities needed from accountants as sustainable business and finance professionals of the next decade. ACCA is […]

Growth and productivity: is outsourcing accountancy the answer?

Growth and productivity: is outsourcing accountancy the answer? Outsourcing book-keeping and accounting can free Glos business people for more productive tasks. A third (34%) of UK accountants do not trust that outsourcing is done correctly or to a high enough standard, according to latest research from IRIS Software Group (IRIS), the UK’s leading provider of […]

Many businesses failing to focus on cash flow, survey finds

Many businesses failing to focus on cash flow, survey finds Only 14% of UK Finance departments report a primary focus on cash flow during the COVID-19 pandemic. The majority of businesses focussed on cost-cutting exercises and the use of Government support. For example, 41% confirmed they had furloughed accounts payable staff over the past 12 […]

Making Tax Digital (MTD) is less about tax and regulation than you may think

Making Tax Digital (MTD) is less about tax and regulation than you may think   Booking will be the key for MTD effective When we think of Making Tax Digital (MTD) for Income Tax, the obvious association is tax and regulation, but the reality is that MTD in any form is less about either of […]

Accountants can be trusted

Accountants can be trusted The accountancy industry is set for an overhaul after the collapse of Carillion and BHS dented its reputation. The CMA is proposing that the parts of accountancy firms that perform audits should be separated, that FTSE 350 firms have two auditors, and that there should be more oversight as to how […]

Business confidence in Gloucestershire surges to near-record high

Business confidence in Gloucestershire surges to near-record high     Business confidence in the Gloucestershire has risen to a near-record high since a quarterly survey began in 2004, despite record falls in sales in the past 12 months.   We found that business confidence across the County had surged to a near-record high. This was likely […]