At LT Accounting, we recognise that keeping up-to-date with the latest accountancy news and regulatory changes is not merely a requirement—it’s a strategic edge for your UK business. Our knowledge hub is committed to delivering the most current and influential accounting insights, trends, and updates.
Financial Forecasting for Startups: Building a Roadmap to Success
In the dynamic world of startups, where uncertainties loom at every corner, having a solid financial forecasting model is akin to possessing a compass in uncharted territories. Financial forecasting is not just a numerical exercise; it's a strategic tool that guides startups through the tumultuous early stages of their journey, [...]
How to Prepare for a HMRC Audit: Tips and Best Practices
Navigating the intricacies of a Her Majesty's Revenue and Customs (HMRC) audit can be a daunting experience for any UK business. The mere mention of an audit often evokes a sense of apprehension among business owners and finance teams alike. However, with the right preparation and understanding, facing an HMRC [...]
Understanding IR35: Implications for Contractors and Freelancers in the UK
The UK's gig economy, characterised by a significant shift towards independent contracting and freelancing, has been met with legislative measures aimed at regulating employment and tax practices. Among these, IR35 stands out as a pivotal piece of legislation that has reshaped the financial and operational landscape for contractors, freelancers, and [...]
Accounting Software for SMEs: A Comparative Review
In the ever-evolving business landscape of the UK, small and medium-sized enterprises (SMEs) are continuously seeking ways to streamline their operations, enhance efficiency, and foster growth. A pivotal tool in achieving these objectives is the adoption of robust accounting software. The right accounting solution not only simplifies financial management but [...]
Year-End Tax Planning Strategies for UK Individuals and Businesses
As the end of the UK tax year approaches, individuals and businesses alike start looking for ways to optimise their financial strategies, aiming to minimise their tax liabilities. This period of reflection and planning is crucial for making informed decisions that can significantly affect one’s financial health. Year-end tax planning [...]
Understanding CIS Monthly Return: A Comprehensive Guide for Contractors
Understanding CIS the Construction Industry Scheme represents a pivotal framework within the UK construction sector, mandating contractors to withhold tax from payments to subcontractors, which are then passed to HM Revenue and Customs (HMRC). This initiative aims to minimise tax evasion and ensure a steady flow of tax revenues [...]