How long do you need to keep business financial records? Ever wondered about the optimal duration to retain those crucial financial records? Well, according to HMRC regulations, businesses are advised to keep their financial records for a span of 6 years post the accounting year end. However, the importance of holding […]
Author Archives: RobsonLaidler
15
Apr
Apr
What happens if you don’t file your tax return on time? You should have filed your 2023 Personal Tax Return and Partnership Tax Returns by 31 January 2024. If you did not file on time HMRC will charge an automatic £100 penalty to individuals. For a late submission of a […]
03
Apr
Apr
We are very proud to have achieved the top level of ‘Maintaining Excellence’ standard in the Better Health at Work Award programme. As the region’s first B Corp certified organisation Robson Laidler runs on the triple bottom line principles of People; Planet: Profit with each having equal importance. We have […]
Blog, Tax
Understanding HMRC Letters Regarding Company Capital Allowances / Annual Investment Allowance
18
Mar
Mar
HM Revenue & Customs (HMRC) has initiated a correspondence campaign, sending letters to companies regarding their capital allowance claims, specifically the Annual Investment Allowance. These letters, while potentially raising concerns, shouldn’t necessarily spark alarm. Let’s delve into what these letters entail and how companies should respond. Understanding the Purpose […]
07
Mar
Mar
Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Here’s a response from our Tax Consultant Kerrianne Naylor Wood: “For the last few years, the pre-Budget bombast and boom has vastly […]
06
Feb
Feb
Selling your business can be the largest financial decision that many entrepreneurs make. For many, the process can be daunting and complicated. Here are a few key points to consider when preparing your business for sale: Reliance on key staff Often a business may be very reliant on the owner. If […]
30
Jan
Jan
A Director’s Loan Account (DLA) is a financial account that tracks transactions between a company and its directors (or shareholders) when money is either borrowed by the director from the company or lent by the director to the company. It is essentially an accounting record that helps to keep track […]
23
Jan
Jan
When starting any new business venture, one of the crucial decisions you’ll face is choosing the legal structure. The two most common options are operating as a sole trader or setting up a limited company. Each comes with its own advantages and disadvantages, and understanding these can help you make […]
18
Jan
Jan
Running a business involves a complex interplay of factors, including potential risks and uncertainties. In this dynamic landscape, business insurance emerges as a fundamental necessity, providing a safety net against unexpected disruptions. Let’s delve into the reasons that underscore the significance of business insurance in ensuring the long-term success and stability […]
Blog, Dental, Healthcare, Tax, Taxable Benefits
Staff entertaining expenses dentists need to get their teeth into
21
Dec
Dec
We know that our dental clients like a party, as do we, but do you know the staff expenses tax implications of entertaining and Christmas bonuses? An annual Christmas party, or a meal and drinks out with your staff is enough to trigger a tax charge if the limits are […]