Knowledge Hub
Insights & News from Your Finance TeamWe spend a lot of time offering our clients practical advice on how they can grow their businesses – please see some of our articles below and feel free to share.
Importance of Setting Goals and Objectives for the New Year
Fun fact: those who set goals and objectives are far more likely to succeed than those who don’t. Don’t believe us? Check this out… A group of researchers at the Harvard Business School conducted a study into the benefits of goal setting and found that those who set...
How Cashflow Forecasting Can Contribute to a Positive New Year
While the last few months of the year can be challenging to navigate for the majority of business owners, that's when is time to be looking forward to the following year and thinking of ways to increase the likelihood of a positive new financial year. One of the best...
How to Practice Mindfulness in the Workplace
Through the COVID crisis, Your Finance Team have concentrated on supporting clients with advice on their company finances and making sure they understand the government support available. However, more than ever, we have seen how COVID has created real anxiety amongst...
Your Finance Team Achieves Xero Gold Partner
Xero is an incredibly fast-growing cloud-based accounting software that Your Finance Team (YFT) has been using for the past 5 years and has consistently grown its expertise and client base alongside its own growth and popularity. Xero allows companies to keep control...
Can You Buy an Electric Car Through Your Company?
Should You Buy an Electric Car Through Your Company? A company car is one which is purchased and owned by a company but made available for private use by an employee. Successive governments have increased the personal tax costs of company cars which has meant that...
Making Tax Digital – are you ready?
Making Tax Digital or MTD is one of the furthest reaching HMRC initiatives of the past 20 years, which makes it all the more surprising that a recent British Chamber of Commerce survey discovered that nearly a quarter of British businesses surveyed had no knowledge of...
Late Filing Penalties – A Move to Points System Proposed
A move from fines to points system A move to a points system rather than fines from 2019 is being proposed. This is in an attempt to focus Treasury attention on serious tax avoidance offences. Rather than on punishing small taxpayers who’ve made mistakes. The present...
HMRC Cease to Accept Credit Cards
HMRC cease to accept payments via credit cards In a surprisingly timed announcement, HMRC said that they would cease to accept credit card payments for tax bills from 13 January 2018. Those who previously paid their self assessment by this means will now have to...
Entrepreneur’s Relief – One of the Best Kept Secrets
Entrepreneur’s Relief Since April 2008, Entrepreneur’s Relief (ER) has been one of the best kept secrets of British business life. Perhaps the way that successive governments have handled Entrepreneur’s Relief explains why this excellent scheme is not as well...
Auto Enrolment – how to get ready and stay compliant
What is auto enrolment? Automatic enrolment requires virtually every UK small business to automatically enrol qualifying employees onto a suitable workplace pension scheme and make regular contributions to it on behalf of those employees. What must UK businesses do...
Changes to Flat Rate VAT – What you need to know & do
Changes to Flat Rate VAT Scheme – just another headache for small business!! HMRC changed the Flat Rate VAT Scheme on 1st April 2017. The changes are already affecting small business owners and contractors who operate under the flat rate scheme (FRS). Many of those...
Research & Development Tax Credits – Are you eligible?
Any new business needs all the tax relief it can get. Which is why it is all the more surprising that for many SMEs, the government’s Research & Development Tax Credits aren’t being more widely utilised. What activities qualify for Research & Development Tax...