Category: Accounting

Practicalities of forming a partnership

Although a partnership can be a simple and flexible way for two or more people to own and run a business, unlike limited company status, partners do not have any protection if the partnership fails. If one of the partners resigns, dies, or goes bankrupt, the partnership has to be dissolved, even though the business […]

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Capital allowances – write off small pools

Businesses which are not using the cash basis can claim capital allowances for capital items that are used in the business, such as plant and machinery, tools and equipment, and so on. Where the annual investment allowance, which gives an immediate 100% deduction against profits is not claimed, either because the allowance has been used […]

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Tax aspects of using a work’s van

If an employee is able to use a work’s van for private use, which generally includes home-to-work travel, there will be a taxable benefit and a subsequent tax charge. From 6 April 2019, the flat-rate van benefit charge has risen from £3,350 to £3,430, representing a small increase in real terms to a basic rate […]

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Tax-free taxis

There may be occasions on which an employer provides an employee with a taxi either to or from work. As a general rule, where an employer pays for a taxi for an employee’s journey between home and work, there is a taxable benefit as journeys between home and work are regarded as private, rather than […]

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Tax-free savings income of £18,500

Where income is mainly derived from savings, it is possible to enjoy tax-free savings income of up to £18,500 tax-free in 2019/20 in addition to that held in tax-free wrappers, such as individual savings accounts (ISAs). The ability to enjoy savings income tax-free is made up of three components: the personal allowance; the zero-starting rate […]

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Fuel and mileage payments for company car drivers

The car benefit tax charge does not cover fuel provided for a company vehicle. Where the company pays for all fuel (business and private), the fuel benefit will be charged, which is based on the cash equivalent of the benefit each tax year (£24,100 for 2019/20 multiplied by a percentage depending on the car’s CO2 […]

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Easy Invoicing for Small Businesses

We understand how important it is for small businesses to keep overheads down, but paying bookkeeping fees for simple tasks like raising invoices is one area where it may be possible to make some substantial savings. We work with some great cloud-based accounting software packages that make it easy to create professional invoices yourself while still […]

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Hyphose joins R&G Group

I’m excited to be providing consultancy services and accountancy support to the leading South Coast fluid power business Hyphose Ltd, whose head office is in Ringwood. Hyphose has been established for nearly 40 years, and the sale of the company this week makes them part of one of the UK’s strongest fluid power groups, R&G […]

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FreeAgent Software for small business owners

Don’t just take our word for it, here’s how FreeAgent helps small business owners spend less time managing their finances and more time doing the work they love: https://bit.ly/2Oc5567

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Expenses on the go

  We know that it can be difficult to stay on top of your finances – whether it’s reviewing paper receipts or trawling through spreadsheets after a long day. This is why we have chosen to partner with award-winning accounting software FreeAgent. We like that it is especially designed for contractors and micro-businesses and their […]

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Simplified Expenses

As a sole trader running your business is time consuming enough without the added stress of calculating how much of the fuel you buy is allowable as a business expense every time you fill up your car. Luckily this is one of several areas where HMRC make it easier for small businesses by allowing you […]

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Fixed Fees for Predictable Expenses

Take the uncertainty out of your monthly bookkeeping expenses. At AC Barwick Bookkeeping & Accountancy Services we are happy to agree a fixed monthly fee for ongoing contracts with small businesses in the Bournemouth, Ringwood and East Dorset area.

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