Margaret Turner from Turner & Co. warns that anyone who still hasn't submitted their tax return for the tax year 2013-14 faces the possibility of huge penalty fines from HMRC.
In the last budget the Chancellor George Osborne said he will scrap the annual self-assessment tax return and replace it with a 'digital tax account' from early 2016.
At some point in your business career you will almost certainly have to produce a Cash Flow Forecast, which shows (and/or predicts) the flow of cash in and out of the business.
If you’re a business owner you will presumably already know that you have to pay income tax (based on the drawings you’ve taken from the business) as well as tax on company profits (corporation tax). Income tax is paid via self-assessment and the deadline is looming!
As your business grows you will probably want your accountant to move beyond just crunching the numbers and keeping HMRC happy, into a management accounting role.
An Enterprise Resource Planning (ERP) system is a suite of business process management software that allows companies to automate many back office functions related to technology, services, HR, planning, development, manufacturing, sales and marketing.
National Payroll Week recognises the contribution that payroll makes to the UK economy, after all a massive £152bn is collected through income tax and £102bn through National Insurance via company payrolls every year.
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