Watson Knipe Blog

We have written many blogs explaining the benefits of being a sole trader and the benefits of being a limited company. The business structure you choose depends on your own personal circumstances and your business goals.

In our last blog – Have you got an exit strategy? – We gave details of the options you may consider when selling your business. Regardless of which way is the best for your business, here are some tasks that you should undertake to make sure that your business is ready for you to exit.

When you start your business all your energy goes into product or service development, marketing and making sales you certainly don't think about your exit strategy.

Our final blog in this series is about FreeAgent Accounting Software. For businesses that are looking for an online solution to manage their finances.

We continue with our series of blogs about different accounting software that is available to small businesses. We do not have a specific bias to any one type of software.

As outlined in our blog - The benefits of using accounting software we explained that HMRC is working towards Making Tax Digital for businesses. To prepare for this change, it’s worth considering using accounting software.

As you may know, HMRC is phasing in its landmark Making Tax Digital (MTD) regime, this will ultimately require taxpayers to move to a fully digital tax system.

Being a limited company can provide very profitable benefits when considered over becoming a sole trader. One of the main advantages of running your business as a limited company is, in some cases, it can help reduce costs.

Being a sole trader, also known as being the sole proprietor, remains one of the most popular types of UK business structures for many reasons. Especially if you are going into business on your own for the first time, it can hold a lot of advantages.

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system.

As an employer, it’s important to keep track of the National Minimum Wage and National Living Wage if you have staff that are being paid at this level.

A summary of the Spring Statement 2018 is now available on our website, you can click on the link to download this to read. 

If you are a landlord and own any properties in the Nottingham City boundary, then you need to be ready for the new Selective Licensing Scheme which is being introduced by Nottingham City Council.

If you are a working parent with children under 9 you should have a read of this blog. Some of you may have already started to claim Tax-Free Childcare for your younger children.

In 2017 the Government sought views on how employers currently deal with employee expenses, current tax rules on employee expenses and the future of employee expenses. As a result of this survey, a number of changes were announced in the Autumn Budget 2017.

Here is a quick explanation of what Stamp Duty Land Tax is and the changes that were introduced in November 2017.  You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland.

It is important to understand what Capital Gains Tax is and the changes that were made to this in 2017.  Capital Gains Tax is a tax that taken from any profit that you make when you sell (or ‘dispose of’) something (an ‘asset’) that has increased in value. It is not based on the amount of money you receive.

It is important for businesses to understand the changes that will be taking place over the coming years as a result of the Autumn Budget 2017. This will help with planning your finances and will allow you to be prepared when these come into force. We have summarised five key changes that you need to be prepared for going forward.

This blog gives a summary of five key changes which will impact personal tax following the Autumn Budget 2017.

Chancellor Philip Hammond presented his first Autumn Budget on Wednesday 22 November 2017.

It’s very quickly approaching the deadline for submitting your businesses self-assessment tax return for the last tax year, this covers the period  6 April 2016 and ended on 5 April 2017.