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Wholly and Exclusively. Have you heard of this phrase? This is the definition set out by HMRC to consider when claiming a business expense. If the item going to be used entirely/in full, in the business. This is therefore a business expense and tax deductible! If the item is going to be used exclusively in the business. This is therefore a business expense and tax deductible! Always ask yourself, is this wholly and exclusively for the business when you purchase items! #accountant #smallbusiness #businessowner #businesstips #smallbusinesssupport #businesswoman #accountantsofinstagram #taxseason #smallbusinessowner
The 3 R’s! Do you know what they are? #accountant #smallbusiness #businessowner #businesstips #smallbusinesssupport #businesswoman #accountantsofinstagram #businesswoman #taxseason
Autumn Statement 2024 Highlights #budget #accountant #smallbusiness #businessowner #businesstips #smallbusinesssupport #smallbusinesssupport #businesswoman #accountantsofinstagram #businesswoman #taxseason
When you decide to collate your FB and Google Reviews and feel the love! So far £40 has been donated to @mndassoc from the new google reviews! #smallbusiness #smallbusinesssupport #businesswoman #accountantsofinsta #businesstips #kentbusinesswomen #kentbusiness
Domestic Reverse Charge for the Construction Industry #accountant #smallbusiness #businessowner #businesstips #businesswoman #accountantsofinstagram #taxseason #smallbusinesssupport
When do you register for VAT? #accountant #businessowner #smallbusiness #businesstips #smallbusinesssupport #businesswoman #smallbusinesssupport #accountantsofinstagram #taxseason
Staff Entertaining. Did you know? #accountant #smallbusiness #businesstips #businessowner #smallbusinesssupport #businesswoman #smallbusinessowner #accountantsofinstagram #taxseason #taxdeductions
The first 2 google reviews and the first 2 £10 payments plus admin fee so the full £10 gets to @mndassoc #support #smallbusinesssupport #smallbusiness #businesstips #accountant #businesswoman #accountantsofinstagram #taxseason #helpingothers #mnda
Can’t find your P60 or P45? Need it for your tax return? I can access the information directly with HMRC so there is no need to worry #accountant #smallbusiness #businessowner #businesstips #smallbusinesssupport #smallbusinessowner #smallbusinesssupport #businesswoman #accountantsofinstagram
I have decided to start donating to @mndassoc, a charity close to my heart. For every google review I receive, I will donate £10! Please take a minute to pop into to google. Search Pink Squared Accountancy & leave a review. Once you have done so, I will donate £10 and send you proof of donation! Thank you 🙏 #accountant #smallbusiness #businessowner #businesstips #smallbusinesssupport #smallbusinessowner #businesswoman #taxseason #accountantsofinstagram #mnd #mndawareness #mnda
October is the month where mortgage providers require the 2023/2024 Self Assessment to be filed. They no longer accept 2022/2023 self assessments as the most recent. #accountant #smallbusiness #businessowner #businesstips #smallbusinesssupport #smallbusinessowner #businesswoman #taxseason #accountantsofinstagram #
September Pink Network- the very best yet! 30 amazing people all in 1 room, same goals, same drive, same determination! Thank you to @monarch_mortgages and @kentwellbeinghub #networking #smallbusiness #businessowner #networkingevent #smallbusinesssupport #networkingbusiness #womensupportingwomen #kentbusinessowner #kentbusinessnetworking #networkmarketing
Hubdoc FREE with Xero! #hubdoc #xero @hubdoc @xero #makelifeeasier #app #freesoftware #beautifulbusiness #accountant #smallbusinessowner #smallbusiness #lifehacks
The year is flying by! Be prepared, be organised. Avoid stress and worry! #accountant #businesstips #businessowner #smallbusiness #smallbusinesssupport #businesswoman #taxseason #accountantsofinstagram
Shhh! Don’t tell anyone. I’m away from my normal desk but setting up shop at my new poolside desk! Normal business will be taking place. Just in a picturesque venue. #accountant #smallbusiness #businessowner #businesstips #smallbusinessowner #wfh #poolside #freedom #liveyourbestlife #sunshine #familytime
1️⃣ month to go until we are back at our favourite place @kentwellbeinghub! We have Simon from @monarch_mortgages talking all things mortgages, so get your questions ready! Please message or comment if you would like to secure your space. Monday 1️⃣6️⃣th September, 1️⃣0️⃣- 1️⃣2️⃣at the Kent Wellbeing Hub! £5 entry includes pastries & ☕️ #networking #networkisyournetworth #smallbusiness #smallbusinesssupport #entrepreneur #kentbusinesses #localnetworking #gillinghambusiness
Xero is the IPhone of Cloud Accounting Software @xero @apple #xero #iphone #smallbusiness #beautifulbusiness #cloudaccounting #workwiththebest #knowyourworth #thebest #businessowner #businesswoman #businessinkent
5 🌟 google review! Just saying 🙌 #5star #googlereviews #googlereview #justsaying #smallbusiness #smallbusinessowner #smallbusinesssupport
How much is a tax return? #taxreturn #howmuch #spendless #savemoney #organisedlife #businessowner #businesstips #businesswoman
Don’t forget your payment on account is due by 31st July 2024 #paymentonaccountdeadline #taxseason #hmrc #savings ##smallbusinesssupport #accountant
Where should your accountant be located? #accountant #medwaytowns #medwaybusiness #locationlocationlocation #businessadvice #businessowner #businesstips s
A tax code is a string of numbers and letters that tells your employer how your earnings should be taxed. 1257L is the tax code currently used for most people who have one job or pension What the numbers mean The numbers in your tax code tell your employer or pension provider how much tax-free income you get in that tax year. What the letters mean Letters in your tax code refer to your situation and how it affects your Personal Allowance. L = You’re entitled to the standard tax-free Personal Allowance T= Your tax code includes other calculations to work out your Personal Allowance N= Marriage Allowance: you’ve transferred 10% of your Personal Allowance to your partner If your tax code is wrong for any reason this could mean you are overpaying tax or underpaying tax. If you are overpaying tax, HMRC may write to you advising they owe you tax back or it might sit in limbo for sometime without you even knowing. If you are under paying tax, you may receive a tax bill at the end of the year. For full help and guidance drop me a message Thanks Luisa 😊 #accountant #businesswoman #businessowner #payattention #businesstips #employee #employer #helpingothers
The most tax efficient way to take £50k from a limited company #tax #taxseason #smallbusiness #smallbusinessowner #helpothers #accountant #beautifulbusiness #businesswoman #entrepreneur
Capital Gains Tax when selling a property #capitalgains #tax #accountantsofinstagram #sellinghomes #buyingahome #smallbusiness #smallbusinesssupport
Quickbooks Certified Pro Advisor annual test completed! #quickbooks #quickbooksonline #quickbooksproadvisor #accountantslife #kentaccountant #smallbusinessowner
1 year on from starting the Pink Network we have grown so much and now are flourishing in our new home @kentwellbeinghub next event 16th September! #networking #kentnetworking #kentbusinessowner #kentbusinessnetworking #medwaybusiness #networkisyournetworth #happymonday
Don’t forget the next networking evening is….. Monday 10th June 10-12 @kentwellbeinghub £5 entry to include hot drink & pastry! Tell all of your local small businesses! Please click ‘going’ on the fb event which is pinned to @pinksquared2 on fb. Can’t wait to see you all there!! #networking #kentnetworkingevent #rainham #smalbusinessowner #medwaybusiness
Being a small business owner can be challenging! Trying to take time off to spend with friends & family but also needing to send that email, meet that deadline. My tasks while away- 💰Run payroll 💰Chase client Debtors/Receivables 💰Check Self Assessments 🧑🧑🧒🧒Spend quality time with family making memories If I can help you in any way with your accountancy, to give you that time back to spend with family. Please drop me a message. #smallbusiness #localsmallbusiness #accounting #accountant #kentbusiness #kentbusinesswomen #kentbusinessmums
Have you received your Self Assessment Reminder letter yet? 💷Filing your Self Assessment as early as possible, means you have longer to save for the tax you owe! 💷 ❌Who wants to pay tax in January?❌ I always recommend getting your Self Assessment done within 3️⃣months of the year end! This then gives you 6️⃣months to pay! #taxseason #accountantsofinsta #kentaccountant #businesssupport #localsmallbusiness #accountant #gillingham #keepitlocal
📣VAT 📣 If you submit your return &/or pay the VAT liability after the deadline. You’ll receive a penalty point until you reach the penalty point threshold. When you reach the threshold, you’ll receive a £200 penalty. You’ll also receive a further £200 penalty for each subsequent late submission while you’re at the threshold. The penalty point threshold is set by your accounting period. The threshold is the maximum points you can receive. Penalty points threshold - Quarterly VAT - 4 points Monthly VAT - 5 points Penalty example for a business making quarterly returns A company submits their VAT Return quarterly. This means their penalty point threshold is 4. They already have 3 penalty points because they submitted 3 previous returns late. They submit their next return late and get a fourth penalty point. Because they’ve reached the penalty point threshold, they receive a £200 penalty. The company submits their next return on time. They stay at threshold of 4 penalty points but do not get a £200 penalty. The company submits their next return late. As they’re still at the penalty point threshold of 4 points, they receive another £200 penalty. #vatpenalty #kentaccountant #accountantsofinstagram #smallbusiness #smallbusinesssupport #taxseason #tax #vat #helpothers
The next Pink Network has been confirmed New Venue ✅ Free Parking ✅ Hot Drink & Pastry ✅ Please use the below link to secure your space/message me or look on my Facebook @pinksquared2 https://www.facebook.com/share/hWDvX4LqZwq7eGSf/?mibextid=9l3rBW @kentwellbeinghub
Today is the last day of the 2024 tax year! From tomorrow your Self Assessment Tax Return from 6th April 2023 - 5th April 2024 can be prepared and submitted to HMRC! #taxyear #selfassessment #smallbusinessowner #entrepreneur #soletrader
Continued Professional Development AKA CPD #cpd #professional #accountant #businessowner #businesscoach #medwaybusinesses #localsmallbusiness #accountantsofinstagram #yougotthis
‼️‼️‼️EDITED- changes have been halted! HMRC helpline changes #helpline #accountant #smallbusinessowner #smallbusiness #businesssupport #localbusiness #gillingham #womeninbusiness
Sole Trader vs Limited Company Tax (approx tax amounts, rounded for ease) #taxseason #smallbusiness #accountant #kentsmallbusinessowner #womeninbusiness #savemoney #business #businesswoman #businesstips
Month 12 payroll. Need payroll help? My payroll preparation, submission, holiday tracker etc starts at £45 per month #payroll #payrollservices #payrollmanagement #medwayaccountant #businessowner #businesstips #smallbusinessowner #kentbusiness #supportlocal
Xero are having a HUGE sale, run don’t walk! #notanad #ijustloveit #xero @xero #beautifulbusiness #accountant #sale #kentaccountant #xeroislife #youwontregretit #smallbusiness #smallbusinessowner #smallbusinessaccountants
From 1st April 2024 the national minimum wage increases to £11.44 per hour. This is an increase of £1.02 or 9.8%. For the full breakdown of rate increases please feel free to WhatsApp me 07359 627112 #costoflivingcrisis #gettingpaid #smallbusiness #smallbusinessowner #smallbusinessaccountants #localbusiness #kentbusinessnetworking #kentbusiness #kentbusinesswomen
Happy 1st Birthday Pink Squared! What a year, I started my Accountancy Practice with nothing, no laptop no clients. I now have 26 amazing clients which is growing daily! Alongside, Pink Squared I have started Pink Network, a local networking group for small businesses! I am so proud of myself and can not wait to see where this year takes me! #localbusiness #happybirthday #smallbusiness #accountant #kentwomeninbusiness #femaleboss #networking #proud
Tax planning….36 days until the end of the financial year! Now’s the perfect time to think about what tax you will be liable for from your Self Assessment. There are many ways to reduce the tax liability! #pinksquared #taxseason #selfassessment #smallbusinessowner #smallbusinesstips #smallbusinessmarketing #localsmallbusiness
From 1st May 2024 Companies House are increasing their fees! If you are thinking of setting up a Limited Company then it’s best to do this before May to save on the extra fees. Currently the fee is £12 to incorporate. From 1st May it will be £50. Company Confirmation Statments are also increasing from £13 to £34. For more information or help with your business, please get in touch. #moneysaving #smallbusiness #smallbusinessowner #moneysavingtips #priceincrease #smallbusinessaccountants #smallbusinesssupport
What an amazing morning meeting load of lovely new people at the Pink Network Event @for_you_by_diandra @stephaniepalmermakeup @simplyhypnotherapy @anthenails @microbladingandmorefiona @monarch_mortgages @naturaldefinitions #networking #networkisyournetworth #localbusiness #supportlocal @tick.tocksrainham