Ascentant Blog
Updated Solicitors Accounts Rules from 25th November 2019

The updated Solicitors Accounts Rules come into force along with the updated Solicitors Handbook on 25th November 2019. The New Solicitors Accounts Rules can be found here. There are also a number of guidance notes which can be found as follows: Do I need to operate a client account? Third Party Managed Accounts (TPMA’s) Joint […]

VAT on disbursements and recharges

The Law Society have updated their guidance on VAT on disbursements and expenses as per the practice note below. We have tried to summarise this below, but please familiarise yourself with the practice note in full: https://www.lawsociety.org.uk/support-services/advice/articles/vat-treatment-of-disbursements-and-expenses/ It will have an effect on the way that client bills should be presented and accounts payables are […]

Ascentant Celebrate Third Anniversary With Three New Hires

Ascentant are proud to celebrate their third birthday, with three new hires. With a growing demand for outsourced Legal Cashiering services, Ascentant have hired Natalie Gilchrist from Sort Legal and Emma Hawkins from Maclaren Warner solicitors. Both join as Senior Legal Cashiers. Emma joins to head up Ascentant’s Legal Aid division, supporting legal practices with Legal […]

Making Tax Digital – How will it affect your business?

Here, Reece Dean from the Ascentant Accountancy team looks at Making Tax Digital (MTD) 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 […]

Networking in Derby

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) […]

Are you missing out on R&D tax credits?

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 […]

Small Business Support in Derby

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 […]

Making Tax Digital

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 […]

Setting up a business – Sole Trader FAQS

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 for a […]

Setting up a business – Limited Company FAQ

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 […]