RS Accountants

Charging Your Client or Customer Expenses: How to Do It Correctly!

by Russell Smith | Jun 6, 2015 | Accounts

Confused about how much to charge your customers for expenses? Let the team at our accountancy firm in Leeds help you figure it out. It isn’t the most pleasant of activities, but unfortunately, it has to be done. Charging clients for expenses is an important part of...

Which Accounting Software Should You Use?

by Russell Smith | Jun 4, 2015 | Accounts

Join our accountants in Leeds as we discuss the best accounting software for your business. When starting a business, it is absolutely imperative that you manage and maintain your finances. Control is the key to keeping everything operating smoothly; if you don’t have...

What is a capital cost? Accountancy jargon decoded here….

by Russell Smith | Jun 3, 2015 | Accounts

Jargon alert! Capital means assets which means any big cost! For example, a computer is a cost that doesn’t go through the profit and loss account in one go. This is because, accounting rules dictate that the computer will last the business for more than one year...

What are the chances of getting a tax investigation from HMRC?

by Russell Smith | Jun 1, 2015 | Accounts

As part of our service to clients we always include a ‘tax investigation’ service which effectively means that if a client is investigated by HMRC we will do all the work needed for free no matter how long it takes. I’m often asked what is the likelihood of being...

Will I be caught by the IR35 rules?

by Russell Smith | May 31, 2015 | Accounts

If you are a one person limited company and you only do work for one customer, it is possible that you will be caught by the IR35 rules. These rules were introduced to eradicate the tax benefits of an employee setting up as a limited company and then working for the...

Self-Employed Tax: Small Business Expenses Explained

by Russell Smith | May 30, 2015 | Accounts

Making business expense claims is an important part of saving tax but what exactly are expenses? And how do they work? Our expert accountants up in Leeds get a number of questions relating to small business expenses. They often want to know exactly how business...

Manage your cash flow and generate more cash for your business

by Russell Smith | May 29, 2015 | Accounts

Turnover is vanity Profit is sanity Cash is reality If you are like most businesses you probably agree with the above two statements. However, knowing that you should be on top of your cash and actually being on top of your cash are two different things. Whilst for...

It’s P11D time! What does that mean and does it apply to you?

by Russell Smith | May 20, 2015 | Accounts, Tax

HMRC have released the 2014/15 benefits and expenses Form P11D plus updated guidance to go with it. What does this mean and should you care? A P11D is a form that is required to be submitted by 6 July 2015 to HM Revenue & Customs. The form is for employees...

One of the most terrifying Companies House letters you will receive….

by Russell Smith | May 12, 2015 | Accounts

For some people, just seeing the HM Revenue & Customs or Companies House brand at the top of a letterhead is enough to send shivers down their spine. Because I deal with these sort of letters day in and day out, it doesn’t tend to have the same effect....

What’s best? Limited company or self employment

by Russell Smith | May 11, 2015 | Accounts, Tax

This is a big question for most businesses at some stage, either at the beginning or part of the way through. Before I blog about the pros and cons, here’s a couple of points: * VAT rules is the same for both limited companies and self employment * Employment...