Paul Harrison

HMRC is quietly increasing its scrutiny of small businesses, especially those run by sole directors or anyone who’s previously claimed VAT refunds or received COVID-related support 😱 If you fall into that category, it’s worth knowing what might trigger a closer look. Things like unusually high expenses, late submissions, or VAT claims that don’t have solid documentation behind them can all raise questions. Even activity that doesn’t quite match your usual pattern can be enough to prompt a review ❌ Now’s a good time to take stock. Go back over your past returns. Make sure your records are complete and easy to follow. If you’re still relying on spreadsheets and email chains, consider switching to proper accounting software that captures receipts and tracks everything in one place 🧾 And if you’ve been managing it all yourself up to now, it might be time to bring in a second pair of eyes. An accountant can spot issues before HMRC does and help you fix them 👨‍💼 The more your business grows, the more attention it attracts. Being proactive now could save you a lot of stress later 💪🏻 #accountantdunstable #auditamy #hmrcchecks #vatinvestigation #compliancecheck

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MTD IT IS COMING 😱 Making Tax Digital for Income Tax (MTD IT) is the biggest change to the UK tax system in decades 🤒 From April 2026, sole traders and landlords earning over £50,000 must keep digital records and submit quarterly updates to HMRC using compliant software ✅ (PS Dext have one of those compliant softwares called Dext Solo 😂 ) As an accountant or bookkeeper, MTD IT is going to change how you price services, engage clients and manage workflows, its a lot! 🤯 But MTD IT is also about opportunities, not just obligations 🫡 The MTD Oracle (AKA Paul L.) has produced a top tier guide for free for you to use to get your head around whats to come 🤩 Interested? Link in comments! 🥳 PS Nick Charnley my good pal also works in tax and is my pal in the picture 🥸 #mtd #mtdit #hmrc

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A week ago we ran some time management and productivity training at IN Accountancy Loads of top tips, tools and strategies to take away, but the one thing? Not something unique or clever... Nothing new, groundbreaking or revolutionary... Just something so simple, yet so effective... TURN OFF YOUR EMAIL POP UP NOTIFICATIONS!!!! Studies suggest that the average worker is interrupted by emails roughly every 5-10 minutes, and it can take 23 minutes to fully regain focus after each interruption... which means that if you have notifications popping up you are constantly distracted, reactive and never in full concentration mode... Apparently on average workers have 30-40 emails per day (chance would be a fine thing - mine can be more like ten times that number) So even if each email only takes 2-3 minutes to deal with (using the RAFT tool - Refer/Action/File/Toss), that's an absolute minimum of one hour per day spent on reactive emails. Then factor in the on average 23 minutes of missing focus per email... well that's your day gone. Even if you only have ten email interruptions per day, that's nearly four hours of unproductive time... So what to do and how to cope in this day and age of constant interruption and expectation of immediate reactions and responses? Turn the damn notifications off!! Then plan a specific time or times throughout your day - and it will vary dependent on your role, your business, your goals - to check and respond to your emails... treat them like a client or a meeting and don't let them rule your day... Simple isn't always easy... What would you do? 📸 Ali Ford

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Becoming VAT registered can be scary. But not if you understand how to tweak your pricing. Your pricing (and your ability to change it) is going to determine if you will still be making the same profit or not. If you've gone VAT registered by choice, or you've reached the £90,000 threshold in a 12 month period, you will now have to account for VAT on your sales. (Let's forget for the moment there are some services/products without VAT, or at a "zero" rate - let's keep it simple) The standard rate of VAT is 20%. Taking a service you are currently selling for £100, which costs you £60 to deliver gives you a profit of £40. Let's also presume you are being charged VAT on that £60 cost, which once you get registered you can reclaim. This will mean you have a few options on the price: 1. Keep selling at £100 because you believe you *cannot* sell for more due to the market - you will make less profit. 2. Add the VAT in full, making your sales price £120. You will actually make slightly more profit but you just became more expensive. 3. Charge £108 and make the same profit for a little more extra on the price. So it's time to think about your pricing if you are about to be VAT registered (or considering it). Having the right pricing can make or break the profits.

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🚨 A Costly Oversight: Why Even Dormant Companies Need a Tax Health Check 🚨 A few months ago, we met a client who had registered a company with ambitious future plans—but for now, it was dormant. Thinking inactivity meant no action was needed, they didn’t file monthly VAT and PAYE returns, nor the annual final return. No income, no tax—right? Wrong. Despite being dormant, the law requires timely tax filings once a company is registered. By the time they came to us, their startup was facing accumulated penalties and interest that far exceeded their initial capital investment. This situation could have been completely avoided with a simple annual Tax Health Check and timely professional advice. 💡 Here’s the takeaway: Whether your business is active, scaling, or just starting—compliance starts from day one. Understanding your obligations early prevents unnecessary stress and costs later. At RSM Tanzania, we support mid-market clients across Tanzania with proactive, practical tax advice to keep you compliant and confident. 🔎 When was the last time your company had a tax health check? Let’s talk. #TaxCompliance #RSM #MidMarketMatters #Tanzania #TaxHealthCheck #BusinessAdvisory #DormantCompany #Entrepreneurship

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The one and only Chris Downing joined me to breakdown everything you need to know about preparing for HMRC's Making Tax Digital (MTD)… What You'll Learn: ✅ Key MTD deadlines and compliance requirements ✅ Step-by-step preparation strategies for businesses ✅ Common pitfalls to avoid during the transition ✅ Expert tips for seamless HMRC integration ✅ Real-world implementation best practices for business owners and accountants! Watch it now! https://lnkd.in/ebPdah_Y

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