Tag: accountants

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UK Tax rates explained in plain and simple English (using buckets!)

People often get confused about tax and a common misconception is around how tax works for the higher tax bands. People often think “Oh I don’t want to earn too much as I’ll get taxed at 40% and I’ll lose out”. THAT’S NOT HOW IT WORKS! Here’s a handy guide to simplify and explain things.

Self Assessment Tax Return How-To Guide by LeeP Accountants Peterborough

Get your records in order Record-keeping is a vital for every self-employed person. You have a range of legal obligations when it comes to record-keeping – but entirely apart from this, the Self Assessment process will be significantly easier if you have the relevant documents easily to hand, and organised in an effective way. The…

Christmas party tax tip

If you’re having a Christmas party (or any other annual event) there is an exemption of up to £150/pp you can spend and it’s all tax free! The conditions The total cost must not exceed £150 per head, per year. £150 includes VAT together with any extra costs such as transport and accommodation. The £150…

How to Keep on top of your debtors

When businesses run into cash flow difficulties, delaying payments to suppliers can become a problem. Keeping on top of your debtors is a vital part of keeping your business afloat. Make sure you keep on top of your debtors, and your cashflow by implementing a debt collection policy. An example of a typical debt collection…

Switching Accountants – The How To Guide – As Easy As 123

Changing Accountants Switching your accountant, much the same as switching your gas and electricity supplier, can feel like a stressful task that you want to avoid even when you’re not fully satisfied with the services you’re getting. Sometimes people just want to avoid those awkward “goodbyes” and think that they have to endure this when…

Think you’re too small for an Accountant? – think again…

LeeP are local chartered accountants who specialise in small businesses and start ups. We often hear “we will get an accountant when we are a bit bigger” from start up business owners; however, did you realise that LeeP aren’t there just to do your books? We are here to guide you through the initial stages of…