Keep up to date with the latest news and information from UHY Torgersens in Sunderland, Newcastle and Jarrow.
Q&A: Bank feeds for cloud accounting
August 21, 2018
A bank feed is an automatic transmission of your bank statement data into your cloud accounting software. A bank feed facilitates the secure transfer of transaction data from your bank to your cloud accounting software.
The benefits of cloud accounting – improved cash flow management and medium-term cost savings
August 16, 2018
In the next in our series of blogs about the features and benefits of cloud accounting, we look at how an online accounting system could improve a business’s cash flow management
Q&A: Mitigating restrictions on mortgage interest relief, benefit-in-kind for electric cars and tax implications of a written-off loan
August 7, 2018
This month we look at mitigating the impact of the restrictions on mortgage interest relief for a landlord, benefit-in-kind relating to an electric car and the tax implications of a written-off loan.
Making Tax Digital for VAT – are you prepared?
August 3, 2018
Making Tax Digital (MTD) for VAT is the first step in a government initiative that will eventually move virtually all tax and National Insurance Contribution management and payments online. That is, it mandates digital record keeping and automated filing for these business processes.
The biggest challenges facing small businesses in 2018 – part two
July 24, 2018
Britain’s small and medium-sized businesses, in particular the family-owned ones, have come in for quite a lot of criticism lately. The ONS has published statistics that are claimed to show that family businesses are largely to blame for the UK’s poor productivity rate. There is no doubt that British business needs raise its game. See our blog of 15 December 2017.
The benefits of cloud accounting – Real time information
July 19, 2018
When data (such as sales invoices, supplier payments, or bank transactions) is entered into cloud accounting software, the system updates the user’s account instantly, giving an immediate view of a business’s most recent financial position. This information can be accessed by the business owner, their colleagues and their accountant from any location in the world, providing an internet connection is available.
The biggest challenges facing small businesses in 2018 – part one
July 10, 2018
Running a business has always been challenging. Making the activity worthwhile for both the owner and the employees even more so. As accountants we are in a privileged position – we get to hear of the grumbles, genuine grievances, and hardships of our business clients earlier and in more detail than other advisers.
Q&A: Claiming expenses when working abroad, the cash accounting scheme for VAT and Marriage Allowance
July 5, 2018
Whether you will be able to claim tax relief on travel expenses depends on the reason for your relocation. If the move is for personal reasons, you will not be able to claim tax relief for expenses. However, if the duties of your role require you to relocate abroad, you should be able to claim for some expenditure incurred. The HMRC Employment Income Manual (EIM34000) can assist with further details.
The benefits of cloud accounting – data on the move
June 27, 2018
The advantages of the cloud over traditional methods of accounting are numerous. In this first in a series of blogs on this topic we look at one of the main benefits: Mobility.
Furnished holiday lets – are they a good investment?
June 18, 2018
What could be more appealing than owning a property in your favourite seaside resort or rural retreat, which you can use when you want to and rent out for profit for the rest of the year? With claims of much better returns than those offered by residential lettings the interest in furnished holiday lettings (FHLs) is on the rise.