Hot accounting tricks with Arnold Ayton at Spondoo.co.uk
Get to know Arnold Ayton and some of his accounting opinions? The secret to?picking the best business name for you?is research.?Choosing a name sounds easy, but?it can be?tricky, considering the rules surrounding it. Your company name must be distinctive.?It cannot be the same?as another?company?or?similar enough?and?only?differentiated by punctuation?or commonly used words in the UK. Should a company feel that you have chosen a similar name to theirs and they?have?registered their business name before you, you?may be asked to?change yours?as a result of a filed complaint.?And it goes without saying, try to avoid any offensive, sensitive?words or?expressions! You?can check?existing trademarks, to help in your name choice.
Arnold Ayton is qualified as a Chartered Accountant under the Association of Certified Chartered Accountants (ACCA), although I currently hold a practicing license under the Institute of Financial Accountants (IFA). I understand Arnie is a very busy accountant and has a lot on his plate. As a result, he can sometimes take a little bit of time to respond during busy periods. However, he has always been prompt with urgent matters and we have not overrun any deadlines whilst we have had him as an accountant. For the non-important requests we make, perhaps an automated/stock reply saying that he’s seen our message and is getting around to the topic would be appreciated rather than feeling obliged to answer with a fully formed response.
Arnold Ayton accounting tips in 2021: Do I need to keep meal receipts? It’s solid business practice to record all food and drink expenses and retain the receipts of these expenses. You should also keep a record book of reasons the journeys took place, such as staff training, meetings, etc. And for assistance with your receipt management and bookkeeping, don’t forget that Spondoo Bookkeeping makes things simple! The golden rule when claiming business expenses is that the cost must be “wholly and exclusively” for business purposes. So, where do you stand when it comes to food and drink? After all, everyone needs these things to survive. When does it become an allowable expense? Read on to find out when your business can claim food and drink as an expense.
The IR35 legislation has been introduced to ensure that these workers pay broadly the same tax and National Insurance contributions (NICs) as an employee. IR35 has been in force for over 10 years but the key change from April 2020, is the change in ‘who is liable’ for non-compliance from the individual or contractor to the organisation engaging the worker.? Before April 2020, a contractor/worker not currently on PAYE (i.e. a maintenance person) working for your business/organisation, is deemed to fall under this legislation and is challenged by HMRC, the individual / contractor would be liable for all the underpaid tax and a Class 1 National Insurance (Employer as well as Employee NIC) liabilities. After April 2020, a contractor/worker not currently on PAYE (i.e. a maintenance person) working for your business/organisation, is deemed to fall under this legislation the underpaid tax and associated penalties will fall on the business, not the contractor.
Spondoo is made up of a team of Chartered and Certified Accountants and bookkeepers, supported by our in-house software developers. We have years of experience across the finance industry – including in payroll, financial services and pensions – as well as in-depth knowledge of all the software that you use every day to run your business. For start-ups and established businesses, our insurance experts can provide you with the best cover at the right price. All our insurance experts are authorised and regulated by the Financial Conduct Authority (FCA). Our dedicated Financial Advisers can provide pension & investment advice tailored to your circumstances. All our advisers are regulated by the Financial Conduct Authority (FCA).