Making Tax Digital – What is it? Making Tax Digital is a UK government incentive with the intent of making it easier for individuals and businesses to get their taxes right and keep on top of their affairs. The ambition of this incentive by the HMRC is to transform tax administration with the aim of…
Derby Networking ClubThe Derby Networking Club meets once a month at the Oberio Business Hub on Pride Park.Frequency – MonthlyTime – Breakfast/morningCost – £10 per meetingFurther details – http://derbynetworkingclub.com/ Derby HubThe Derby Hub is a diverse group with a guest speaker, discussing a specialist subject.Frequency – Bi weeklyTime – LunchtimeCost – £15 per meeting (visitor)…
There are thousands of pounds being lost in tax relief by eligible companies every year. This reflects the common misconception that Research and Development (R&D) is confined to manufacturing plants, tech giants or research laboratories when in reality, the ideas and inspirations that move industries forward have their roots in everyday innovation by the professionals…
If you are an SME in Derby or Derbyshire, are you aware of the support available for your business? Here we take a look at some of the options available. Apprenticeship Grant If considering employing an apprentice, employing a 16-18 year old makes you eligible for a £1,000.00 grant. Employing an apprentice allows you to…
From April 2019, as part of the Government’s Making Tax Digital (MTD) programme, VAT registered businesses with taxable turnover above the VAT registration threshold (currently £85,000) will have to keep their records digitally (for VAT purposes only) and submit their VAT return information to HMRC digitally through ‘MTD functional compatible software’. If you are VAT…
Legal practices must have good financial controls and governance in place to adhere to the Solicitors’ Accounts Rules and prevent breaches. Breaches generally fall into two categories of material and non-material breaches: Material Breaches: These are serious breaches of the Solicitors Accounts Rules and should be reported to the SRA upon discovery. They usually include:…
Outsourcing your Legal Cashiering can have many rewards. You can save money, buying in services as and when needed, rather than paying a full time Financial Controller. Also you can utilise holiday and sickness cover at no extra cost. There are a number of considerations before deciding to Outsource your Legal Accounts Management to an…
What you need to know before setting up your own business as a Sole Trader. We receive a number of questions from clients here at Ascentant. Here, Kevin Drew, Managing Director answers some of the common queries that new businesses ask before establishing a Sole Trader enterprise. Q – What taxes are due…
We receive a number of questions here at Ascentant, both from clients and online. Here Kevin Drew, Managing Director answers some of the common queries that new businesses ask. Q – What taxes or filings are due for a limited company? A – A limited company must complete an annual return (confirmation statement) on the…
Compliance, regulation, risk and the threat of an SRA intervention; Compliance with the Solicitors Accounts Rules, abiding by Outcome Focused Regulation and COLP & COFA responsibilities add to the burden of running any legal practice, large or small. For larger firms with teams of legal cashiers to maintain day to day records, monitor irregularities and…