WIS Accountancy Blog

Accountancy News & Insights

Our accountancy blogs are regularly updated to help you make the most of your accounting and finance.

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What is your SIC Code and why is it important

What are SIC Codes? What is your SIC Code and why are they important?

A SIC code known as a Standard Industrial Classification code is a five-digit code used to group companies existing in the UK based on their …

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What are the tax implications of government grants

What are the tax implications of government grants?

Governments worldwide have implemented a variety of measures to aid companies, individuals, and small businesses struggling due to the impact of the Covid-19 pandemic. In …

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Methods To Avoid Business Insolvency

Methods To Avoid Business Insolvency

A firm’s primary objective is to make a profit. Profits are generated via sales revenue. The amount of the profit is the difference between the …

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The Next Step Towards Digital Tax – Making Tax Digital For Income Tax Self-Assessment

What is Making Tax Digital? Making Tax Digital – MTD – is a wide-ranging government initiative that will transform tax administration in the UK. People …

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What happens if you can’t pay your Self Assessment tax

What happens if you can’t pay your Self Assessment tax?

Self Assessment tax The mechanism used by HMRC (Her Majesty’s Revenue and Customs) for the collection of Income Tax is Self Assessment. Individuals with an …

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can you reclaim vat buying car through business

Can you reclaim VAT if you buy a car solely for business purposes?

‘Will I be able to reclaim the VAT if I purchase a car solely for business purposes?’ That’s a question many people ask their accountants. …

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Cost-Efficient Marketing Techniques For Any Business

Cost-Efficient Marketing Techniques For Any Business

Many business owners look at their marketing budget as just a conglomeration of expenses. Marketing is an expense for a business and an investment to …

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Can I still operate through my limited company if I am under IR35

Can I still operate through my limited company if I am under IR35?

What are changes to IR35 off-payroll? The government’s changes to off-payroll working rules also referred to as IR35, have been in effect from 6 April …

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Self Assessment Tax Returns

Self Assessment Tax Returns

What is Self Assessment? Self Assessment is a system used by Her Majesty’s Revenue and Customs (HMRC) to collect Income Tax that isn’t deducted at …

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