Managing cash flow is crucial for the success and sustainability of any business, whether you're a small start up or an established company. Proper cash flow management ensures that your business can cover its expenses, invest in growth opportunities and weather financial uncertainties. Here are some strategies to keep your business’ cash flow healthy all year round especially in the ‘summer slump.’ Understand your cash flow cycle The first step in managing your cash flow, is understanding the cash flow cycle of your business. This involves knowing when cash comes in and goes out and planning ..read more

Completing your tax return might not be the first thing that comes to mind when you think of summer. However, taking advantage of this period to get ahead on your tax return can offer numerous benefits. Here’s why summer is the perfect time to complete your tax return and how it can help streamline your financial management. Avoid the year end rush One of the main advantages of completing your tax return in the summer, is avoiding the last minute rush. The filing deadline of 31 January often leads to a mad scramble as the date approaches, with many individuals and accountants overwhelmed by t ..read more

Please see below for your downloadable guides: Download link: https://www.swindellsaccounting.co.uk/wp-content/uploads/2024/07/Becoming-an-employer.pdf Download Link: https://www.swindellsaccounting.co.uk/wp-content/uploads/2024/07/Navigating-capital-gains-tax.pdf Download Link: https://www.swindellsaccounting.co.uk/wp-content/uploads/2024/07/Accounting-update-July-2024.pdf The post July downloadable guides appeared first on Swindells Chartered Accountants Sussex ..read more

Companies House has significantly increased fees for some services from 1 May. The changes affect filing of confirmation statements, new incorporations, change of name, and applications to strike off. This comes after other changes in March, where companies are now required to provide a contact email address on their confirmation statement. What has changed? From 1 May 2024, the costs for 59 services offered by Companies House will see substantial fee increases. Here is a summary of the updates to some of the most-used online services: Incorporation fees have increased by over 300% Annual co ..read more

The flexible AI upskilling fund pilot scheme is designed to support SMEs in the professional and business services sector by match funding AI skills training for their employees. The Department for Science, Innovation and Technology recently announced a £7.4 million pilot scheme, which aims to subsidise the cost of AI skills training for small and medium sized enterprises in the professional business services sector. Summary Eligible businesses can apply for funding for up to 50% of the cost of AI skills training. This covers training which supports employees to develop their technic ..read more

In May 2023, the Department for Business and Trade issued a call for evidence to gather views on the UK’s framework for non-financial reporting. Part of the call for evidence centred around reporting thresholds, both company size and company type. The number of categories a company can fall into has increased steadily over time and it has become a complicated aspect of the non financial reporting framework to navigate. The UK government has announced plans to lay legislation before Parliament this summer to increase by 50%, the monetary thresholds that determine company size, with an intended ..read more

HMRC has updated documents to help companies understand if their work qualifies as Research and Development. To skip the summary and head straight to the documents click on the link below https://www.gov.uk/government/publications/help-to-see-if-your-work-qualifies-as-research-and-development-for-tax-purposes-gfc3 Research and Development (R&D) tax reliefs were introduced in a bid to support UK companies working on innovative projects in science and technology. Before submitting a claim, you will need to consider if your activity will be eligible for R&D tax reliefs. According to HMR ..read more

Please see below for your downloadable guides: Download link: https://www.swindellsaccounting.co.uk/wp-content/uploads/2024/04/Swindells-accounting-update-May-2024.pdf Download Link: https://www.swindellsaccounting.co.uk/wp-content/uploads/2024/04/Debt-Management.pdf Download Link: https://www.swindellsaccounting.co.uk/wp-content/uploads/2024/04/Tax-deadlines-and-penalties.pdf The post May downloadable guides appeared first on Swindells Chartered Accountants Sussex ..read more

In recent months, HMRC has been under pressure to reduce wait times on their phone lines and the new HMRC app is hoped to start to relieve the pressure on the phones. Here is a quick summary of what you can achieve with the new app and how to download it. What the app does The HMRC app is designed to be a quick and easy way to get information about your tax, national insurance, tax credits and benefits. You can use it to check: your tax code your National Insurance number your income and benefits your employment and income history from the previous 5 years how much you will receive in tax ..read more

Changes to the Charities Act 2022 came into force in March 2024. Below is a summary of the key changes but if you’d like to skip directly to the detail here is the link to follow: https://www.gov.uk/guidance/charities-act-2022-guidance-for-charities#changes-that-came-into-force-on-7-march-2024 Making changes to governing documents The new statutory power that trusts and unincorporated associations can use to make changes to their governing document is now in force. If using this power, charities will need to get the Commission’s authority to make certain ‘regulated alterations’ in the same wa ..read more