Composure Accounting & Taxation

Do you have a favourite app you use for business? We'd pick Xero from this list but would be interested to hear your favourite one...

Budgets, cash flow forecasts and management accounts are all essential tools for successful businesses looking to grow but, realistically, most SME's cannot afford a dedicated resource. As your accountant, we are perfectly placed to step into the role as a Virtual Financial Controller or Finance Director. You work hard and want to make sure that you make use of the reliefs open to you. We are here to make sure that you understand your options and always comply with the law. We offer a tailored range of Checks and Planning. We can provide you with a Quarterly Tax Pack so that you know how much profit you have made so far, what you have taken out of the business (and what you could take if you wanted to), how much you should have saved towards this year’s tax bill, and when that will need to be paid. If there have been any tax changes since your last pack, we will make sure you know how they might affect you. Find out more: https://lnkd.in/eR3TDMUM

Join Carolyn for a one to one business and tax advice session as part of the Horsham District Council Business Training Programme. 💡 These sessions are available to book now, you can use the form here to contact us to arrange one: https://lnkd.in/e3ZCmSEX

There are several new rules and regulations small business owners need to be aware of in 2024. Here’s a useful summary from Enterprise Nation with resources to help you comply:

Your business needs a set of accounts that meets HMRC’s rules to support your tax return. Some tax law applies to all businesses but there are big differences in specific areas such as travel & subsistence or entertainment. For that reason, we think it is in our clients’ best interests to organise ourselves into specialist teams that work with sole traders & partnerships and limited companies. Depending on the legal structure you use, you may also be required to file statutory accounts with Companies House. This is one of a range of legal duties that company directors and LLP members have – we can guide you through all of these responsibilities and make sure you never miss any deadlines. Find out more about our services here: https://lnkd.in/eR3TDMUM

You have just two days left to register for self-assessment ahead of the deadline on 5 October. You only need to register if you have not sent a tax return before. HMRC has a tool for you to check if you need to send a tax return for the 2023/24 tax year, which is between 6 April 2023 and 5 April 2024: #selfassessment #taxreturn #hmrc

If you employ staff, a new survey has shown salary remains the number one reason employees will stay with a company or leave. According to the survey, nearly two thirds of respondents said money was the most decisive factor when choosing a company, and nearly half said long-term pay dissatisfaction would prompt them to leave a company:

But accounting and finance is not a hat you have to wear when you have an accountant (and we know a good one 😉). Please get in touch if you want to have a chat about how we could help you:

HMRC is getting Gen Z adults to check if they have unclaimed child trust funds. Around 671,000 young adults have yet to claim their child trust funds, worth £2,200 on average. Young people can take control of this account at 16 and withdraw funds when they turn 18.

Payroll sounds easy enough. Right? It is just paying people. Red Adair had it spot on: “If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.” 😵💫 In our experience, payroll can go wrong very quickly and very badly. We never underestimate the importance of getting it right – you are affecting people’s ability to pay their rent… insure their car…do their grocery shop. 🏡🛍️ We offer a full payroll service from calculating the deductions and submitting pensions to paying people & HMRC. You will also get to use the excellent BrightPay. This GDPR-compliant, online portal provides HR functions like holiday booking and gives both the employer & employees access to all their important payroll documents. Find out more: https://lnkd.in/eR3TDMUM