Why You Should Invest in Real Estate Properties

June 4, 2023


Many people with extra cash look for opportunities to grow it over time. There are many investment options available; including stock market, real estate, crypto currencies, gold, etc. Each option comes with benefits and drawbacks. As an investor your goal should be to weigh the pros and cons of each option, and consider the option that best fits your needs. You should also make sure to diversify your investment to avoid being locked into a single option. Real estate investment provides an excellent opportunity to park extra cash and earn steady income along with capital appreciation. Below we discuss some of the important benefits of investing in real estate.

[Read more…]

Filed Under: Finance Tagged With: ,

Do You Need to File VAT Returns Quarterly?

April 17, 2023


The time frame for completing your VAT returns is referred to as your ‘accounting period’. These are usually due quarterly (every three months) – but we will see below how this changes according to the supplies you make.

Any business that makes VATable supplies must understand how to fulfil its VAT obligations, which includes filling out its VAT returns in a timely manner. The late submission of VAT returns, in addition to the late processing of payments due to HMRC as a result of these returns, could result in the application of penalties.

[Read more…]

Filed Under: Finance Tagged With:

Why Outsourcing Accounting Services Is Essential for Business

May 25, 2021


Many businesses don’t give much attention to hire small business accountants. Here they make mistake. They usually do this task by their own. If single detail missed, you will then have to pay lose at the end of month.

Start up business finds it difficult to hire accountant to manage finances. Now a days it is more difficult to find reliable accountant for your company. But many firms are providing accounting services at reasonable rates for small businesses.

Here is why you should outsource accounting services for your successful business:

[Read more…]

Filed Under: Finance Tagged With: ,

How Is Cryptocurrency Taxed in Canada?

April 8, 2021


Everybody thinks of how much money they are going to make when they buy bitcoin or other cryptocurrencies. They can already picture the Lambo in their garage! Yet, nobody really puts much thought into how their newfound wealth is going to affect their tax situation.

Your tax situation and what you need to pay are going to depend on a lot of different factors. There is where you live that mostly comes into play as different countries have their own tax codes to deal with this new way of making money. For instance, if you buy Ethereum Canada will have a much different tax structure than a country like Switzerland.

The problem is also that bitcoin is not like an ordinary currency and it sits in some strange gray areas. This confuses governments that need to make sure that they are able to get some tax revenue without stifling the use of said currency. Since bitcoin can easily fly under the radar there is even more of an incentive to make sure that it is taxed correctly.

In this article, we will go over how you can likely expect your gains from cryptocurrency to end up taxed.

[Read more…]

Filed Under: Finance Tagged With: ,

Are Business Finances Scaring You?

November 18, 2020


Do you as a small business owner ever get concerned when you think about your finances? One of the biggest fears many small biz owners end up dealing with is financial struggles. While a few challenges are not uncommon, prolonged issues are nothing to take lightly. With that in mind, what about your finances should worry you?

[Read more…]

Filed Under: Finance Tagged With: ,

5 Smart Measures You Can Take Now to Handle Unexpected Tax Bills

April 14, 2020


Staying ahead of your taxes is the one and only way to avoid trouble with the IRS. Filing your returns on time and paying the taxes due before the deadline can save you from any kind of penalties and problems. However, things may not be as easy if you have an unexpected tax bill that you aren’t prepared for. You can probably get out of the fix by using up your savings or borrowing money but this may not always be possible. Still, you shouldn’t panic in such a situation as there are some measures that can help you handle the problem.

[Read more…]

Filed Under: Finance Tagged With:

Do You Know What to Do if You are Misclassified as Independent Contractor?

January 13, 2020


When working on a job for some business you can be classified as an employee or independent contractor. There are guidelines set by government that determines the proper classification. The classification determines what benefits you will receive, what type and how much tax you will need to pay and so on. That is why it is important that you pay close attention to your classification and take appropriate action if you are not classified correctly.

[Read more…]

Filed Under: Employees Tagged With: ,

What Do UK’s New Transfer Pricing Rules Mean for SMEs?

January 12, 2020


SMEs have historically been exempted from UK transfer pricing rules. This year’s new rules have extended the rules to all UK businesses, including SMEs. What are the new rules, how do they work, and how we as North London Accountants can help SMEs prepare for them?

In recent years, there have been major changes to UK tax legislation to ensure that large international businesses cannot take advantage of differences between domestic and international tax rules. Amazon is an obvious example we’re all familiar with.

As part of HMRC’s ongoing efforts to close tax loop holes and ensure that taxpayers and businesses are declaring and paying the correct amount of tax, in April last year the government introduced new legislation governing anti-profit fragmentation.

[Read more…]

Filed Under: Finance Tagged With:

What You Need to Know About Startup Taxes

December 30, 2019


Thinking of starting a business, there are many factors to consider, such as planning how to handle management, hiring, buying, and marketing, that sometimes the issue of taxes is forgotten about.

Starting your business will require time, preparation, and preparing tax obligations might affect how many steps you have to take when starting your new business. You must understand the numerous taxes you might encounter so that you can factor these costs into your financial projections of your business plan.

[Read more…]

Filed Under: Management Tagged With: ,

9 Reasons Why Your Business Needs a Tax Attorney

October 2, 2019


There are several aspects of running a business smoothly and taxation is one of them. In fact, you need to be extra careful while handling your tax matters because not doing so may land you in deep trouble. You may even end up on the wrong side of tax laws and face complicated cases with the authorities. This is something that you will not want to happen because it can cause a waste of time and endanger your reputation too.

So what can you do to protect your business against such issues? Is it possible always to be on the right track only with a certified professional accountant to handle the taxation matters? Of course, you require the services of a CPA but there is still something more than you need to do to keep your business out of legal hassles. Hiring a tax lawyer is the best thing to do. Here are some good reasons why you must absolutely have one in your legal team.

[Read more…]

Filed Under: Finance Tagged With: