Benefits of Accountancy Companies

Accountancy companies can help you build your portfolio and keep you up to date on your records. When you start working for yourself, be it as a contractor, a limited company owner, a freelancer or consultant, your priority is to generate business and fulfil the work you have won. Accountancy

5 benefits why your business should have an accountancy firm.

It can save you time:

An accountant can update you with the latest tax laws, rules and regulations and deadlines, not to mention one who completely understands what format HM Revenue. Companies are responsible to file their accounts and taxes to the HMRC. Accountants can save you hours of time by helping you to file the necessary returns and claim all reliefs you are entitled to.

Reduce your tax liability:

An accountant can...

P11D Form: What is it and What Is It For?

In this article, we take a closer look at the P11D form, what you need to include when you need to file it, and – most important of all – what will happen if you don’t fulfil your P11D duties.

What is a P11D?

The P11D form is used to report Benefits In-Kind, these items or services which you (or your employees) receive from your company in addition to your salary. This can be as private healthcare, interest-free loans (to pay for train season tickets, for example) and company cars. The annual P11D form allows you to report these items to HMRC on your annual Self Assessment return. As benefits in kind effectively increase your salary, there may be National Insurance Contributions (NICs) to be paid on them. It is important to note these contributions will be paid...