May 17 2023 Are you making the most of technology in your business? Categories: EQ AccountingProfessions We are living in an ever-changing technology era where businesses are moving away from paper records and having to reconcile balances by hand. The capabilities of current day accounting software are helping reduce the manual intervention and strains on bookkeepers and internal management. Today’s accounting software can now connect directly to your online banking, invoice more
May 16 2023 Making your children’s nursery more attractive to your staff Categories: HealthcarePayroll With children’s nursery providers struggling with rising costs, the added pressures on recruiting and retaining costs can be overwhelming. While the Scottish Government aims to review the impact of the disparity of ELC funding on the workforce, there are things providers can do internally to improve their cashflow. Actively holding on to your key staff more
May 4 2023 Basis period reform: what does it mean for your farming business? Categories: AgricultureTaxation From 6 April 2023, HMRC implemented reforms to the basis period method of assessment which will affect all sole traders, partnerships and LLPs that currently do not prepare their annual accounts to a year ending between 31 March and 5 April. The previous basis period rules Under the previous rules, all unincorporated businesses were assessed more
Apr 25 2023 Our agricultural event calendar for 2023! Categories: Agriculture As well as visiting clients on their farms to deal with their service requirements, our EQ Agriculture team have a packed calendar supporting various sector events over the course of the year. If you are going to any of the upcoming shows that we’re attending and/or exhibiting at, please come say hello to our EQ more
Apr 21 2023 Basis Period Reform – time to start planning Categories: LeisureTaxation The UK Government have confirmed that the basis period reform will go ahead as planned. This means that the profits and losses of sole traders and partnerships, of which many Furnished Holiday Let (FHL) businesses are operated, will be calculated based on the tax year itself, not the accounting period ending in the tax year more
Apr 11 2023 Helping Surface Heating Systems Ltd find the right solution for their business Categories: EQ NewsProperty & Construction A vendor-initiated management buyout (VIMBO) can be an effective way for business owners to release some value from their business and put a robust succession plan in place. We recently supported one of our clients, Surface Heating Systems Ltd (SHS), with a VIMBO. Founded in 1997 by directors Mick & Helen Cummings and Andrea Blyth, more
Mar 22 2023 Associate dentists – are you self-employed or employed? Categories: Healthcare Previous HMRC guidance which automatically treated associate dentists as self-employed will be removed from 6 April 2023. After this date, associates will be assessed using the ordinary tests of employment to determine employment status. If you are classed as an employee by HMRC, you and your employer will be required to pay PAYE and Class more
Mar 22 2023 Changes to the Option to Tax notification process Categories: Property & ConstructionTaxation The Option to Tax (OTT) allows a business to charge VAT on the sale or rental of commercial property. This effectively turns an exempt supply, on which you cannot recover any VAT, into a taxable supply subject to the normal rules. The attraction of the OTT is that it allows you to recover VAT on more