Blog Archive for 2021

How to prepare for the construction industry VAT reverse charge

How to prepare for the construction industry VAT reverse charge

Gidon | 1 day ago

The VAT domestic reverse charge for building and construction services will come into effect on 1 March 2021, bringing with it significant changes to the way in which VAT is handled for certain kinds of construction services in the UK.

The VAT domestic reverse charge builds on the existing Construction Industry Scheme (CIS) which requires contractors to deduct money from sub-contractors’ payments for tax and NI purposes.

How to Build Your Accountancy Brand

How to Build Your Accountancy Brand

Alison | 6 days ago

Whether you’re looking to build an accountancy brand from scratch or refresh your current offering, there are a number of steps you can take to ensure you’re offering a consistent and reliable brand experience that clients will come to recognise and trust.

How to Manage Inventory and Stock in AccountsPortal

How to Manage Inventory and Stock in AccountsPortal

Tracy | 1 week ago

A key benefit of accounting software is that it makes what can be a complex and time-consuming task that much easier. However, when it comes to running a business there are always more things that need to be done and, as every business sells a product or service, managing inventory can be one of the more challenging elements.

How to Retain Accountancy Clients

How to Retain Accountancy Clients

Alison | 2 weeks ago

Perhaps even more important than winning new business, retaining clients is key to any business's long-term success. Research suggests it costs significantly more to win new business than keeping existing clients and the success rate of selling to a client you have can be as high as 70% compared with only 20% when it comes to a new prospect.

Late Payment Window to Small Suppliers Reduced to 30 Days in the Uk

Late Payment Window to Small Suppliers Reduced to 30 Days in the Uk

Tracy | 2 weeks ago

The UK government has announced a crackdown on large businesses that take too long to settle invoices, in a move that should help to ease the cash flow issues faced by many smaller companies.

How to Know When You Need to Hire an Accountant

How to Know When You Need to Hire an Accountant

Alison | 1 month ago

Seeking help from an accountant can be a good idea no matter what stage of development your company is at. however, it can seem like an additional expense that may be difficult to justify. So, what are the signs that your business would benefit from employing the services of an accountant?

A Guide to the Profit and Loss Account

A Guide to the Profit and Loss Account

Tracy | 1 month ago

Along with the Balance Sheet and Cash Flow Statement, the Profit and Loss Account forms the basis of every company’s accounts, providing a snapshot of your incomings and outgoings over time, helping to provide a clear picture of how a business is performing.

Off-payroll Working Reforms (IR35) Rules Take Effect April 2021

Off-payroll Working Reforms (IR35) Rules Take Effect April 2021

Alison | 1 month ago

On 6 April 2021, major changes to the off-payroll working rules, known as IR35, are set to be introduced, following a 12-month delay due to the COVID-19 pandemic.

Impact of Brexit on VAT with Effect from 1 January 2021

Impact of Brexit on VAT with Effect from 1 January 2021

Gidon | 1 month ago

With the Brexit transition period ending on 31 December 2020, new rules covering customs and tax have been introduced which affect how VAT-registered businesses in the UK trade with the EU and the rest of the world.

This article covers the changes that have been introduced, and how AccountsPortal caters for the new requirements.