Barry Coles, Author at Green Accountancy

Disbursement or Expense?

When you pay a third party for goods or services that are received and used directly by your customer, these payments may qualify as disbursements for VAT purposes. If a cost is a genuine disbursement you do not charge VAT when recharging it to the customer, and you cannot reclaim any VAT charged by the supplier.

Rent-a-Room Relief

Rent‑a‑Room Relief is an HMRC scheme that allows individuals to earn up to £7,500 per year tax‑free from letting out furnished accommodation in their only or main residence.

Is Income a Grant (no VAT) or Supply (VAT)?

Download our checklist to establish whether income is for a service (subject to VAT) or a grant (usually outside the scope of VAT).

How to Run a Limited Company

Running a limited company isn’t just about running a business, it’s about running it properly. Directors have legal responsibilities to ensure the company operates compliantly, keeps accurate records, and meets its reporting and tax obligations. Here’s a simple overview of what’s involved in running a limited company successfully and staying compliant.

How to Run a Charity

Running a charity isn’t just about doing good, it’s about doing it well. Here’s a simple overview of what’s involved in running a charity successfully and staying compliant.

Company Accounts Formats

We prepare and submit company accounts under the relevant UK Financial Reporting Standards (FRS) depending on your company’s size and reporting needs. The accounting standard applied determines the level of detail, disclosure, and what is filed publicly at Companies House.

Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS)

The Enterprise Investment Scheme (EIS and SEIS) offers tax benefits to those investing in new shares of trading companies. This benefits the investor and encourages investment in the company in its early stages.

Enterprise Management Incentive (EMI) Share Option Schemes

Enterprise Management Incentive (EMI) share option schemes are designed to help small businesses attract, motivate, and retain key members of staff. These schemes are tax efficient and straightforward to administer, making them suitable for a wide range of companies.

Employment Related Securities

Employment Related Securities (ERS) refers to shares, options, or other securities that are acquired by an individual by reason of their employment. Learn more about the filing requirements.

Payroll FAQs

Discussing some of the common question we get asked about payroll. Including paying directors, holiday entitlement and claiming the Employment Allowance.

Knowledge Centre Category: Barry Coles