In 2019, HMRC made tax digital meaning people can track their business and professional transactions automatically. This system will help to make tax filing more accurate, efficient and transparent. With big changes happening to the way tax is being processed. Businesses may benefit from working with a Making Tax Digital expert such as our Sheffield based … Continue Reading
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Tax guides
Making Tax Digital (MTD) – part 1
From April 2019 the first phase of making tax digital (MTD) came into force for Vat. This means that all vat registered businesses with a turnover of more than £85,000. (The current vat threshold) will have to keep digital vat records and will have to submit Vat returns using compatible software such as Sage or … Continue Reading
Creating firm foundations for start-ups
Annually in the UK, more than 500,000 people start their own business. It has become vitally important for all start-ups to be as competitive as possible, in order to survive. However, besides ensuring that you are delivering the best product or service possible to your clients. There are many responsibilities that new businesses need to … Continue Reading
How do you know if you need to make a self-assessment tax return?
Her Majesty’s Revenue and Customs – or more often known as HMRC. Uses many different methods to collect tax and self-assessment (short for self-assessment tax return) is one of these. The term ‘self-assessment’ alludes the fact that it’s the individual’s responsibility to work out how much tax they should pay. However, it’s not always clear … Continue Reading
Bookkeeper – Why your business may benefit from hiring one
Hiring a bookkeeper may cost money but it could actually save you money (and stress) in the long run. There are multiple reasons a business may benefit from a professional bookkeeper like ours here at Millhouses Accountancy. We’ve been helping businesses throughout South Yorkshire keep on top of their business’s finances for years. So, why … Continue Reading
