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3 key bookkeeping mistakes all SMEs should avoid

If you run your own SME, then chances are bookkeeping is not one of your favourite jobs! For many small business owners it is a necessary evil that takes up lots of valuable time. Of course, it is vital to do in order to keep you compliant with the law and make your annual tax returns easier to manage.

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THE GDPR: ARE YOU COMPLIANT?

From the 25th of May 2018 new EU laws will come into place regarding the collection and storage of personal data. The Data Protection Directive of 1995 is being replaced and with the new laws come heightened risks and challenges for businesses. Are you compliant?

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Do you know about these three small business taxes?

If you are running your own small business, it is certain that you will have to pay tax at some point. Where it can all get a bit confusing though is what tax applies to you, as there are quite a few different types of tax that businesses can pay. Some, for example, may only apply to limited companies which, if you are a sole trader, are not needed.

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Top tax tips for SMEs in 2018

Small to mid-size business enterprises often neglect to take advantage of all available tax breaks, resulting in higher than necessary tax bills for directors and employees. These actionable tax tips may help you save money on taxes and take full advantage of available tax benefits.

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Making tax digital – what you need to know

From small businesses to big multinational companies, the way tax is done is soon going to change. That’s because HMRC is bringing in its ‘Making Tax Digital’ initiative, which will change the way tax returns are filed. The change means the annual tax return will become a thing of the past, with businesses required to submit information every three months.

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Buy to let landlords need to take action to reduce tax bills

Some buy to let landlords who haven’t taken into account the variety of tax changes within the sector may well soon be faced with problems. Research from Kent Reliance highlights that 20% of UK landlords have now either transferred property portfolios under the banner of a limited company or moved ownership over to a spouse. The research further highlights that one in seven of these landlords don’t actually understand the reasons behind this.