What is a P45?

The P45 is one of those forms that is so common people not only know it’s reference number, it’s the main way people refer to it. It’s actual name — ‘Details of employee leaving work’ — is, to be fair, a bit more of a mouthful than P45. Does that accurately describe what it is … Continue Reading

What is a P60?

The P60 is one of the most important documents you will get during the tax year. Or, more accurately, after the end of the tax year. In short, it is a statement of your earnings and your tax paid during the preceding tax year. However, the document holds a special status, meaning that unlike other … Continue Reading

Recovery Loan Scheme

The Recovery Loan Scheme was launched on 6 April 2021. It is the latest government drive to help businesses recover from the effects of the Covid-19 pandemic. What is the scheme? The aim of the scheme is to help businesses with their liquidity following the pandemic. It recognises that, for many businesses, their trade has … Continue Reading

Working from Home Relief

The transformation of working from home has been one of the biggest impacts of the coronavirus pandemic. A practice that was often seen with suspicion before. How many have heard accusations of ‘shirking from home’? It has now become the norm for many people. Even previously reluctant businesses have now been converted – they are … Continue Reading

UK Economy improving

The UK economy is improving. Signs of improvement, despite the challenges of the third lockdown, grew slightly in February. The pandemic continued to take its toll. But if the trend continues we can start to feel confident that we are finally moving beyond the worst of the pandemic’s short-term economic effects. The pandemic continued to … Continue Reading

Are you ready for the end of the tax year?

As we approach the end of the tax year, you might be thinking about what you need to get ready. If you’re a contractor, something you may consider is getting in touch with a specialist accountant for contractors. Doing this means you will have a professional by your side who can help you not just … Continue Reading

What is the super deduction?

In the Budget the Chancellor of the Exchequer, Rishi Sunak, announced the ’super deduction’. The announcement was among those that got the most attention, and it was seen as one of the biggest components of his plans to steer the country through the financial consequences of the coronavirus pandemic. But what exactly is it, and … Continue Reading

The 2021 Budget: What you need to know

Rishi Sunak delivered his 2021 Budget after spending a year giving money away. Making him one of the most popular Chancellors the country has had. However, the budget has marked a turning point for the Chancellor. While he has continued some giveaways, he has also highlighted that pain is to come. 2021 Budget – Main … Continue Reading

Using an accountant to handle your VAT

As a lawyer you will know the importance of specialist advice, after all it’s what you offer. But what about when you need advice? VAT is one of the most complex aspects of UK taxation and an area where it will really pay to use a specialist accountant for lawyers who understands your business and … Continue Reading

Specialist accountants for contractors – Millhouses Accountancy

If you’re working as a contractor you might think your tax affairs are simple and straightforward. Maybe you think that bookkeeping and accountancy isn’t something you need to worry about. However, if you try using Millhouses Accountancy, specialist accountants for contractors you might quickly change your mind. Specialist accountants for contractors Whatever your trade; whether … Continue Reading