I recently had a meeting with a client with an attractive designer laptop bag/handbag which got me thinking…..would it be an eligible business expense? If you run your own business you might be wondering if you can claim the cost of a handbag as a tax deduction for your business. After all, you need a…Read More
Q: I’m a sparky and the builder I work for has deducted tax from my invoice. Is that right?
A: If you work in construction and you invoice another business (contractor) rather than the home-owner or “end-user” then the business that is paying you is legally obliged to deduct tax from your invoice under the Construction industry scheme (CIS) rules and in this scenario, you are the subcontractor. The tax that the contractor has…Read More
The New National Minimum Wage from April 2023 is going UP!
From this April 2023, the national minimum wage is going up across the board – this means there’s a 10% payrise for all affected. This means that someone full time currently earning a salary of £18,525 can expect their new salary to be £20,319 from the 1st April 2023. This is the employer’s responsibility to…Read More
Grants and Free Business Support
Some of the team attended an event held by Growthworks earlier in the week where we learned about funds that are currently still available to small businesses operating as limited companies in the Cambridgeshire and broader area. These range from free 121 sessions to work on your business strategy, coaching & mentoring for your staff…Read More
Get support from Self-Employment Income Support Scheme (SEISS) grant now
The Self-Employment Income Support Scheme (SEISS) grant supports self-employed workers and individuals in partnerships whose business is suffering as a result of coronavirus. Earlier schemes have been in place for much of the year, offering varying levels of support. The government’s 2021 Spring Budget confirmed that grant funding would continue to be available for self-employed workers. The…Read More