Working for years in the accounting industry has provided us with a wealth of knowledge across all areas of compliance. So we think it’s important to share this with our clients.
Here you’ll find a wide range of in-depth articles that clarify some of the more pressing business and industry issues and answer any of your questions about the world of accountancy.
On 1 January 2023, a new late payment and points-based penalty regime was introduced which replaces the VAT default surcharge. The new penalty system applies to accounting periods which start on or after 1 January 2023.
There are separate penalties for late submission of VAT returns and late payment of VAT. The way in which late payment interest is calculated has also changed.
Exciting news! Today, Jeremy Hunt delivered the 2023 Spring Budget announcement, revealing some important measures to support the country's economic recovery. The government has abolished the “Lifetime Pension Allowance” and increased the pension annual allowance to...
Capital losses can be realised on assets such as shares or property and they arise when an asset is sold for less than the original purchase price. Capital losses can also be claimed on assets that you still own if they become ‘worthless’, also known as a negligible...
Structuring your company correctly is important, as there are differences between sole trader and limited company tax.
Getting the right advice on tax is invaluable when it comes to saving money on your tax bill. Here’s why.
Cottons Chartered Accountants is excited to announce its rebranding to Cottons Group, effective immediately. The rebranding reflects the business’ ongoing commitment to growth, modernisation, and process improvement under the leadership of Managing Partner, Will Smart.
It is with deep regret that Cottons Group announces the passing of John Cotton earlier this month. As we mourn the loss of a remarkable individual and dear friend, we are committed to honouring his legacy and ensuring that his memory continues to inspire us all. The...
Accounting for capital gains tax (CGT) can be complex, so how much does professional advice cost? Find out here.
What does the Chancellor’s recent Autumn Statement mean for you as a SME? We break it down for you.
Many businesses like yours are making their payroll electronic to deliver employees digital payslips. Here’s why you should, too.