Enlightenment
Accountancy news and business views brought to you by the team at Seagrave French

Taxes for landlords have never been higher – a way for professional landlords to pay tax at 19%
Over the last few years the tax burden for landlords has been steadily increasing, with higher rate taxpayers not...

8 Reasons to Outsource Your Accounting Services in 2023
Are you a small business owner or startup wondering whether to outsource your accounting services in 2023? Here are 8...

The 5 Most Common Accounting Mistakes to Avoid at the start of 2023
As an accountancy agency, we have seen many small business owners make the same mistakes when it comes to their...
Make sure you check your tax code
We have noticed that HMRC has started to get a bit overzealous when it comes to adjusting tax codes for taxpayers with...
Have you forgotten to declare rental income to HMRC?
We often get new clients who haven’t declared their rental income to HMRC because they didn’t realise they had to or...
Changes to VAT – Are you ready for 2023?
On top of the move to Making Tax Digital (MTD) and the need for VAT registered businesses to use MTD compliant...
Should I go Electric?
Electric cars are becoming more and more popular, particularly with business owners. What’s going on?! The main buzz...
Your 2022 Autumn Statement Summary
On 17 November 2022, the government undertook the third fiscal statement in as many
months, against a backdrop of rising inflation and economic recession.
A simple guide to accounting for a small business
As a business owner, you need to have a clear picture of various sides of business management. Accounting is one of...
What are the signs of an innovative businesses?
Innovation is usually recognised as essential for the creation of value, both for individual companies and for the UK...
Career mobility is a priority for millennial and gen Z employees
What is Career Mobility? Career mobility (also known as job mobility) is the process of an employee moving in their...
Tax-efficient finance for your company
In this blog, we cover some tips and tricks to help you run your business as tax efficient as possible! HMRC have...
What kind of business owner are you?
In my experience, business owners fall into two categories: In business for comfort In business to make a difference...
Career mobility is a priority for the Young Generation
When it comes to us at Seagrave French we like to think that we provide business support as well as our accounting...
6 Signs That a Small Business Needs Outsourced Accounting
Small businesses are the backbone of the UK economy, and as such, it’s vital that they keep on top of their...
Making Tax Digital for Income Tax
https://vimeo.com/646368387 Making Tax Digital for Income Tax – What you need to know HMRC has deferred the start of...
Directors banned for £100k fraudulent bounce back loans
Some interesting news this week, as two Yorkshire-based directors are in big trouble. They were caught after fraudulently claimed £100,000 in bounce back loans
HMRC Response Times – you won’t believe this!
If HMRC makes a request from you they normally set a deadline for when they expect a response. If you don’t comply...
VAT green reliefs and energy efficiency
Following recent government publicity regarding the provision of grants to encourage householders to make their homes...
HMRC collected £27.9bn less tax
The government saw a 4.4% decline in tax revenues over the latest financial year as a result of the pandemic. In its...
Avoiding Wasted Capital Losses
There were rumours that CGT rates were going to be increased at the Budget. These eventually proved to be incorrect,...
Inheritance tax, the most hated tax in the UK
Inheritance tax (IHT) has once again been voted the most hated type of tax in the UK. A survey conducted in September...
2021 Autumn Budget Summary
After yesterday's Autumn Budget for 2021, we've summarised the most important information that you need to know in...
National living wage to rise to £9.50
The national living wage will rise 59 pence from £8.91 to £9.50 from 1 April 2022 The Treasury has announced that the...
How to win the lottery
What would you do if you won the lottery? Comfortably retire? Buy a big house? Buy a boat? Get a holiday home? Only...
On it to win it!
Almost all business founders start working in the business but if you want a truly successful business that gives you...
How to avoid a double tax charge on your SEISS!
A little bit of free advice... How to avoid a double tax charge on your SEISS! We’re now in the middle of the period...
Accountability
I think one of the crucial elements of a successful business is ACCOUNTABILITY. You can apply it to yourself, your...
Ireland corporate tax to rise to 15%
Ireland’s 12.5% corporate tax rate is to be increased to 15% Donohoe confirmed that corporation tax will rise, the new...
Tips for your business now that Covid support has come to an end
Covid support measures are coming to an end, so it's time to prepare for the future. We suggest that to come back...
Filing deadlines: October – December 2021
In our handy guide to tax filing deadlines, we provide a guide to key dates 1 October Corporation tax payment for...
Derby County kicked into administration
Andrew Hosking, Carl Jackson and Andrew Andronikou, managing directors at business advisory firm Quantuma, have been appointed joint administrators of Derby County Football Club.
Inheritance tax bills hit record £6bn
HMRC has collected more than £6bn in inheritance tax (IHT) in the past 12 months, the highest figure ever. The amount of inheritance tax paid by taxpayers has jumped with HMRC collecting £6.01bn over the last 12 months compared to £5bn in the previous year.
What you need to know about the end of the furlough
The Coronavirus Job Retention Scheme (CJRS) is due to end on 30 September 2021. For claims relating to August and...
Top 7 tips to grow your business in 2022
Everything in the digital ecosystem seems challenging for businesses. But if you are prepared, nothing can stop your...
Grappling with SEISS 5 and the new turnover test
With the fifth in the series just days away, the Self-Employed Income Support Scheme (SEISS) seems intent on...
Happy Birthday to us!
Today marks the sixth anniversary of the creation of Seagrave French, see the founder’s story here. But what have we...
UK job vacancies at record high as wages tick up
Job vacancies have hit a record high as the UK's labour market continues to rebound, according to the latest figures....
HMRC will get more powers to curb tax avoidance promoters
The government has set out further measures to clamp down on promoters of tax avoidance schemes which will see HMRC given more powers.
The Joy of Commuting
Can you remember the pleasures of the daily commute? Before the Covid-19 pandemic. Numerous people struggle to...
R&D tax credits explained
The R&D tax credit scheme was launched in the UK to encourage innovation. It was used to incentivise businesses to...
Can You Claim The Fifth SEISS Grant
Find out the turnover figures you’ll need before you claim, where to find them and how they affect your grant amount....
How to reclaim CGT paid on account
The disconnect between self-assessment and the UK Property Reporting Service for paying CGT. Since April 2020, UK...
Capital Gains Tax on UK property account
Find out how to ask for authorisation, manage your client's account and how to send returns as an agent. Before you...
Improve Your Business In The Second Quarter Of 2021
The economy is bouncing back from the covid-19 pandemic, with consumer spending expected to increase at service and...
Small Business Jobs Grew Significantly in April
The Paychex | IHS Markit Small Business Employment Watch, compiled from aggregated payroll data of approximately...
Tax Implications of Crypto Currency
The current crypto market has been in an uproar recently with Elon Musks influence swaying the stocks in unpredictable...
Small businesses paralysed by mixed messages
ACCA is the Association of Chartered Certified Accountants. This association has a community of 227,000 members and...
Do I need a business bank account?
If you are just starting out in business, you might be considering how to manage your incomings and outgoings. A...
What is double-entry bookkeeping?
Double-entry bookkeeping is a system of accounting for financial transactions that has been used for hundreds of...
Gift Aid Problems
Gift Aid Problems At some point, most people give to charity in one form or another. This could be done by simply...
How working from an office might not be for every business
Due to the covid-19 pandemic, working from home has opened up new opportunities for other businesses, it's allowed...
VAT Registration – Delays
COVID-19 has caused businesses to experience long delays when getting a VAT number after submitting the registration...
P11DS For 2020/21 Covid 19 Considerations
The deadline for the P11D forms is 6 July 2021. In most cases, this is a routine exercise. Due to COVID19, some...
Property CGT – Avoid Reporting Traps
Since April 2020, UK resident taxpayers have been required to report increases on residential property and pay the tax...
Who wants to be a Millionaire?
What is the definition of being classed as a millionaire? A millionaire is someone whose net worth is equal to or more...
Founders Story
When I get asked why a client should be appointing me as their accountant I always go back to my founders' story, I...
What is a global minimum tax and what will it mean?
Finance Ministers from the Group of Seven (G7) rich nations reached a landmark accord on Saturday backing the creation...
News round up: June 2021
Finance Bill amendments Following the Budget in early March, the current Finance Bill was published on 11 March 2021....
1 Year Anniversary!
It struck me the other day that we were approaching our 1 year Anniversary of moving into our new SFHQ Offices. What...
4 reopening mistakes employers are making
4 reopening mistakes employers are making As businesses start to reopen due to the Covid-19 pandemic there are...
Are You Eligible For The Restart Grant?
Chancellor Rishi Sunak announced the restart grant scheme in his recent budget speech, the scheme aims to help...
What can we Expect From the Pandemic Property Boom?
As the pandemic began most people expected the property market to suffer. With the prospect of the biggest economic...
Accounting for your Amazon or Shopify income?
Amazon and Shopify allow businesses to operate well outside of the geographic area than they otherwise would be able...
Moving goods between the UK and EU
If you move goods between the UK and countries in the EU, you need to follow new customs and tax rules. Your business...
Tax Relief For Loans Used For Businesses
There has been an unusual amount of support for businesses struggling due to Covid-19. But, back at the start of the...
Dealing With An Overdrawn Directors Loan Account
Many companies use 31 March as the accounting reference date. Now is an excellent time to review the position of...
Loss Relief Extension
Based on the budget, an announcement was said that loss relief provisions available to both unincorporated businesses...
Latest News Round Up
Budget The Budget came through on 3 March 2021. None of the speculated tax changes, e.g. raising CGT came to pass,...
Red Alert – Tax Year End Approaching
The current tax year ends on 5th April, what should you be thinking about? Capital Expenditure Many self-employed...
A shot in the arm for our Management Accounting Offering
We are expanding our team in the management information department with the recruitment of a new addition to the...
Lasting Power of Attorney
We’re always banging on about making sure you have a regularly updated will, if you haven’t done that then you should...
Leaving The UK: A Look At Split-year Treatment
According to reports, the number of people leaving the UK during 2020 was "unprecedented". The Economic Statistics...
Self-assessment – DIY Time-to-pay Options
The tax return filing deadline for 2019/20 has now passed. Where taxpayers have struggled to pay any tax they owed by...
Latest News Roundup – March 2021
Covid-19 There have been few announcements related to Covid-19 support this month. There was an amendment to the terms...
Venture Capital Trusts – Are The Dividends Exempt?
When preparing a tax return, it is easy to look at a dividend statement from a VCT and think it's exempt and file it...
Reporting Covid-19 Support Payments
A business receiving support payments for Covid-19 needs to ensure the receipt is recorded as taxable income for...
Import One-stop Shop
One of the consequences of Brexit is that exports of goods from GB to customers based in the EU are now zero-rated....
The Accountant Trailer
2021 Budget Summary
With the UK having been adversely affected by the coronavirus (COVID-19) pandemic, Chancellor Rishi Sunak...
The Accountant Filming
We've been planning something special for a long time! The marketing boys have had us all be movie stars for a day, a...
3 Things they conveniently forgot in the March 2021 budget
Let's look at a few things that have been conveniently forgotten about the rumoured budget changes... Of course, at...
Deregistering from VAT
As a result of the Covid-19 crisis, many businesses are currently experiencing reduced turnover. In many cases, the...
Helping Out in the Time of Covid
The battle against Covid-19 is the biggest challenge we’ve faced in Britain in a generation or more. Beyond government...
Keeping Focused in 2021 #2
Read part 1 here. I recently offered some advice on keeping focused in your business as we go move further into this...
Keeping Focused in 2021 #1
The events of last year generated levels of uncertainty, and even volatility, in the day-to-day lives of many...
Tax Relief and Refunds Against Research and Development (R&D) Costs
If your business invests in any kind of scientific, technological or, in some circumstances, manufacturing research...
Government announcement of further business support in lockdown
The Chancellor of the Exchequer has announced further business support for those in the retail, hospitality and...
Covid-19 January 2021 update
With the country entering Tier 4, it is inevitable that COVID-19 will be at the centre our of thoughts, and with...
Bounce back Fraud has had an unexpected impact
Bounce back Fraud has had an unexpected impact – and now new businesses need urgent help from the Chancellor. Let's...
Rishi Sunak’s vanishing £1,000 a worker retention bonus
Corporations are scrambling to plug holes in their budgets because of chancellor Rishi Sunak’s selection to quietly...
Staff Working From Home? Get Tax Relief Here!
Check to see if you can claim here! You may be able to claim tax relief for additional household...
Get your Loss Claim in early!
If you’ve had a bad year due to the virus then it might be worth getting your accounts to the taxman nice and early...
A different take on our forward looking approach
Always face the direction you’re travelling - seems pretty obvious, right? When you’re driving (or cycling, running or...
We’re more than accountants, we help drive business growth!
We do more than accounts. We’re business advisors as well – first and foremost in fact. If a client wants to grow...
Rishi Sunak’s announcements on 24 September 2020, part 3
Read part 1 here Read part 2 here Well, actually, let’s consider a couple of industries that aren’t getting much help…...
Rishi Sunak’s announcements on 24 September 2020, part 2
Read part 1 here Covid-19 has turned the UK business world on its head in many sectors. The government is offering...
Rishi Sunak’s announcement 24 September 2020 key takeaways
Covid-19 has disrupted business in ways we haven’t seen before. Many sectors – particularly those with small...
How I saved a business £70,000 in one meeting!
‘Well that was worth every penny’ – that’s what SHE said! Picture the scene: A brand new client, it's their first ever...
How We Transform Your Business
Seagrave French is far more than your average Certified Chartered Accountants, we are owner-managed business champions...
Private Pension Age is set to rise to 57
If you were hoping for early retirement, you may have to wait a little longer. Ministers have said they plan to press...
Skynet, are we getting closer?
I enjoy the Terminator franchise, in all its versions, but I’ve never been worried that it was a realistic prediction...
What is my gross profit percentage?
It’s really important to know what your gross profit percentage is to make sure you are making enough on each sale....
Seagrave French TV – Cribs!
As you know, we've now moved into a new office! Our address is now the following: SEAGRAVE FRENCH LLP 1 POPLARS COURT...
Bookworm Business Owners! Here’s a tip to save you money!
Many business owners are also keen readers, holding small collections of books, newspapers, periodicals and magazines....
What are the rules on Tax deductions and advertising? Part 1
Most expenditure of an advertising nature incurred for the purposes of the business is deductible. This includes...
Read this tip the taxman doesn’t want you to know!
If you or any of your staff took training recently, here's an important tip your accountant should have told you!...
VAT Cuts, Home Grants and More!
Rishi Sunak, Chauncellor of the Exchequer has made a series of announcements regarding actions the government will...
Small Gifts and Trivial Benefits for Employees
Thinking of rewarding your team for their hard work from home over the last few months? Here’s something you should...
Support your Pubs and Restaurants After Lockdown!
If you’re lucky enough to get to the pub or book a seat at your favourite restaurant, please listen to what I have to...
Is Website Design a Capital Expense or a Revenue Expense?
If you have recently had a new website designed, or perhaps plan to, read on to learn a tax tip you might not be aware...
KPI’s: The KEY to Success in Business
I’ve said it before, and I'll say it again. Running a business is simple. It's not easy, but it's simple. Running a...
Do you pay for Software? Read this quick tip to save money!
More and more businesses are going digital. It’s common to see expenses incurred in connection with software licenses...
Domestic Reverse Charge VAT for Construction Services
If you're a business working in the construction industry, this is important information for you and your team. HMRC...
Urgent – Nottingham Council’s Small Business Fund
Nottingham Council have a small business grant available. ACCESS TO THESE GRANTS CLOSES ON MONDAY! Two...
Taking advantage of the bounce back loans | case study
With the bounceback loan now moving steadily along, I thought it best to tell you a little story. Here’s an example of...
Furlough Extended What does this mean?
You'll have heard the headlines, perhaps you even listened live, the UK's furlough scheme has been extended by 4...
Accountants Can’t Claim for Clients
Today on 4th May HMRC have announced that the Self-employed cannot ask their Accountant to make the claim for the...
Bounce Back Loan
So, you've come here for more information on the Bounce Back Loan. The name's pretty cool to have come from a...
A cautionary tale of self assessment tax returns!
Thinking about doing your own tax return? Even if you have an accountant…? You might save yourself a bit of money. We...
Changes to Capital Gains Tax Rules Residential Properties
If you have already or intend to dispose of a residential property after 6 April 2020 you need to read this: Up...
Working ‘on’ your business during reduced period of reduced activity
Many businesses are having a tough time at the moment. Reduced activity or no activity at all are causing some to shut...
Are you claiming R & D Tax Credits?
We’ve just submitted a claim that has improved one of our clients cash flow to the tune of £35k. Want to know how?...
Support for business during the Coronavirus Pandemic
Self-employed [BREAKING] Income tax deferral – Income tax payments on account due by the 31st July 2020 have been...
Seagrave French’s Response to Covid-19
Obviously this is a tricky time for all businesses and we wanted to make sure our clients and contacts understand that...
IR35 reforms delayed a year
In light of the Coronavirus pandemic which is currently consuming the media, government and the country’s health...
How does the Coronavirus affect sick pay?
I'm going to cut the long story short - you've come here for quick information about the Coronavirus and sick pay....
What do I think of the 2020 budget?
As you know, yesterday on the 11th of March 2020, Rishi Sunak, the Chancellor of the Exchequer revealed the budget....
I have a GSCE in Woodwork
I meet a lot of people, most of them business owners. Some of these business owners are in the same industry as myself...
March Questions And Answers
Q. If I sell a buy-to-let property in July 2020, when will I have to pay the capital gains tax (CGT) arising on the...
VAT: HMRC Provide Guidance On Digital Publications
HMRC have published Brief 1 (2020): VAT liability of digital publications - Upper Tribunal in News Corp and Ireland...
2020/21 NIC Rates And Thresholds Confirmed
Around 31 million taxpayers are expected to benefit from an increase in take home pay from April 2020 when the...
Structures And Buildings Capital Allowances
One of the key messages regarding claims for structures and buildings capital allowances (SBAs) is that record keeping...
HMRC Issue EA Changes Reminder
HMRC have been reminding employers to get ready for changes to the Employment Allowance (EA) that take effect from the...
February 2020 Questions
Q. What items can be excluded from 'taxable turnover' for VAT registration purposes? When the 'taxable turnover' of a...
VAT And Brexit
HMRC have not yet issued any guidance as to how imports from, and exports to, EU and non-EU countries should be...
Increased National Minimum Wage Rates From April 2020
Some three million workers are set to benefit from increases to the National Living Wage (NLW) and minimum wage rates...
Loan Charge Repayments Deferred
In September 2019, the government commissioned Sir Amyas Morse to conduct an independent review of the loan change...
Capital Gains Tax on Cryptoassets
Cryptoassets are a relatively new type of asset that have become more prevalent in recent years. New technology has...
Seagrave French’s New Years Resolutions for your Business! 2020
https://vimeo.com/387416418 Over this last month, we here at Seagrave French have been releasing a series on our...
Last minute help!
Other accountants are running around panicking about getting their existing tax returns completed now. Here at...
“Busy Season” Boring!
When I meet another accountant at this time of the year, they all ask “how are you getting on with your tax returns?”...
Are all your eggs in one basket?
Some shocking news to you: Most business owners do not diversify enough. Most of their wealth is tied up in one big...
Don’t Fall for the HMRC Scams
There have been nearly 1m reports of scams involving HMRC during 2018/2019, typically emails or even worse calls to...
How To Pay Us
If you want to settle your account with us, our bank details are as follows: Sort Code | 20 51 01 Account No. |...
Merry Christmas 2019 from Seagrave French!
Here at Seagrave French we've had an extremely busy year, full of growth and development. We wanted to share some of...
ISAs as a way to save money
Individual Savings Accounts (ISAs) are a popular way to save money. With good reason. You don’t pay any tax on...
The Gift Aid Trick
Gift Aid feels like a win-win doesn’t it? Donating through Gift Aid means that the charity can claim an extra 25p on...
Don’t forget to claim tax relief on pension contributions!
No one wants to hand over money, do they? So, don’t forget to claim the extra higher rate tax relief that is available...
Want to reward employees at Christmas?
Want to reward employees at Christmas? There are better ways than cash or a bonus in their pay. Individual gifts under...
Make Sure You Get Paid In The New Year!
From 31 December UK banks are introducing new ‘comformation of payee’ rules. This means that if someone makes a...
Employment Allowance Restriction – What Can You Do?
We’ve now seen the draft legislation concerning the restriction of the Employment Allowance to small employers. The...
Don’t Miss Out On Your Structures And Buildings Allowance
Money spent by a business after 29 October 2018 buying or improving their business premises qualify for the new...
Price Versus Value
There’s a theory about the difference between price (or cost) and value. But how can it help with your business?...
Check Out Our ‘Get Ahead Checklist’
Pre Year End Tax Planning If you’re already a client then you can stop reading, we send you the ‘get ahead checklist’...
Case Studies – Some Of Our Success Stories
IntroductionEvery accountant says they’re proactive and they do the best for their clients and of course we do too....
14 Questions To Ask Your Accountant
IntroductionTrying to compare anything can be difficult, but when it comes to your business and personal finances, you...
Do I Make Enough Profit?
We get asked quite a lot ‘what profit should I be making?’ or ‘am I making enough profit?’. Of course, the answer is...
Deferring Taxable Gains From Selling Business Assets
If you’re moving business premises because you’re expanding the last thing you want is a capital gains tax bill to put...
Say Goodbye To The Sunday Night Fear
At some point everyone has suffered that Sunday feeling when you’re not looking forward to work on Monday – even we...
Specified Scope Due Diligence
Back in the good/bad old days of cash flow lends we really used to go down on those due diligence assignments,...
The Real Cost Of That Free Tap Water – A Lesson In Pricing
I don’t know if it’s really true but the millennials will tell you that bars and restaurants are obliged to provide...
TURN £100 INTO £1,200!
Saving for the future is a pretty dry subject, but I started to think about it when I understood the power of compound...