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Spondoo Accounting
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Spondoo Accounting

Helpful articles

Spondoo

Registered Address & Virtual Office for Your business in Haslemere, Surrey

Tired of the high cost of a physical office? SpondooWorks provides virtual office solutions for businesses of all sizes in Haslemere, UK. Our services include a prestigious business address, secure mail management, and additional support like printing and scanning. Focus on your business success with SpondooWorks!
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Find Your Perfect Event Space in Haslemere, Surrey

Are you looking for a stylish and well-equipped venue to host your next corporate event in Haslemere, Surrey? Look no further than HasleWorks, your one-stop shop for co-working space and professional meeting room hire.
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How to Sync Xero Data to Bing Maps with Power BI

Have you ever wanted to visualise your Xero data on a map? Our new report lets you do just that, leveraging the power of Bing Maps and Power BI. This innovative solution integrates your Xero data with location identifiers, allowing you to see how your expenses are distributed geographically in stunning detail.
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Accountants for Members Clubs and Associations 

Looking for expert accountants who understand the unique needs of members clubs and associations? At Spondoo Accountants, we understand that clubs and associations have unique financial needs. That's why we go beyond basic accounting to provide tailored support that helps your organisation thrive.
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SpondooWorks: Your WeWork Alternative in Hampshire, Surrey & Sussex

As a remote worker or freelancer, the allure of working from anywhere can quickly fade when faced with unreliable Wi-Fi, noisy cafes, and the constant battle for a decent workspace. SpondooWorks offers a solution - a dynamic workspace designed as a refreshing alternative to WeWork, offering a variety of workspace solutions tailored for businesses of all sizes in Hampshire, Surrey, and Sussex.
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Spondoo Accountacy Services for Aria Grace Lawyers

At Aria Grace Law CIC, you can focus on what matters most – your clients – while Spondoo Accountancy takes care of your financial health. As your trusted accounting service providers, we understand the importance of efficient and reliable accounting for your law firm.
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Selling Your Accountancy Practice Made Easy!

Are you considering retirement or transitioning to another business endeavor? Perhaps you're contemplating selling your accountancy practice? If so, we at Spondoo Accountants extend a warm invitation to discuss the potential sale of your practice.
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Who Qualifies for Tax-Free Personal Allowance in the United Kingdom?

Curious about the UK's Tax-Free Personal Allowance? Uncover eligibility insights for UK residents, non-residents, and individuals associated with Crown Service in our comprehensive guide. Explore how nationals from Double Taxation Treaty countries can leverage tax benefits, empowering informed financial decisions.
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Is my Soho House or David Lloyds Membership Tax Deductible? HMRC's view on claiming Club Memberships via your business

Amidst the evolving landscape of remote work and versatile co-working spaces, the question of tax deductibility looms over memberships at Soho House or David Lloyd's for businesses. Delve into this intricate matter as we navigate HMRC's perspective, revealing crucial insights on leveraging club memberships for business expenses. Discover expert strategies to differentiate leisure from business costs, ensuring compliance and potential tax benefits. Let's uncover the complexities together and gain clarity on optimizing your business expenditures in the most effective manner.
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Understanding the Scope of Our Right to Manage Accounting & Bookkeeping Service

Explore a world of financial excellence with our Right to Manage Accounting & Bookkeeping Service, designed for seamless compliance and efficient financial governance. From annual budget preparation to statutory filings, our expert team ensures transparency and adherence to regulatory standards. Elevate your financial management with our extended services, featuring transaction posting and proactive service charge collection. Tailored for RTM members, our commitment to compliance and financial efficiency sets the stage for a resilient and empowered community.
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Germany VAT Filing for UK and Non-EU Amazon Sellers

Navigating VAT requirements in Germany as a UK or non-EU Amazon seller can be complex. From understanding filing deadlines to utilizing the German VAT portal, this article simplifies the process and offers expert guidance for seamless compliance. Stay informed and ensure a successful European market expansion.
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Is it possible for siblings to invest in your startup and qualify for SEIS or EIS relief?

Launching a startup? Discover the power of SEIS and EIS tax incentives for your investors. Learn how siblings can join your journey and fuel your success, while we explore who's eligible and how these schemes can benefit your business.
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Is the Winter Fuel Payment taxable? How to handle my Winter Fuel Payment (WFP) in my 2022/23 tax return

Explore the In-Depth Guide to the Winter Fuel Payment (WFP) – a vital lifeline as the UK winter approaches. Our comprehensive resource offers a deep dive into every aspect of the WFP, from eligibility criteria and payment calculations to claiming procedures. Whether you're planning for the upcoming winter season or seeking to understand the nuanced intricacies of the Winter Fuel Payment, our guide is your compass in the world of financial assistance. Stay ahead, grasp your eligibility, and maximize the full potential of this essential benefit.
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What is Dis-incorporation?

Dis-incorporation involves the intricate process of transitioning from a limited company to an alternative, non-incorporated legal structure, such as sole proprietorship, unincorporated partnership or unincorporated association.
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UK VAT FOR AMAZON FBA SELLERS - WHEN DOES AMAZON AUTOMATICALLY COLLECT VAT FOR NON-UK AMAZON SELLERS?

Navigating the intricacies of UK VAT for Amazon FBA sellers is vital for a smooth and successful e-commerce journey. Whether you're a non-UK resident running a limited company or shipping directly to UK customers, understanding when and how Amazon collects VAT is crucial. In this comprehensive guide, we'll break down the essentials and offer expert tips to help you stay compliant and streamline your VAT processes.
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SPONDOO: YOUR TRUSTED ACCOUNTANTS FOR PUBS & BARS

Running a successful pub or bar requires not just a passion for hospitality but also meticulous financial management. That's where Spondoo comes in. As a team of licensed accountants, bookkeepers, and tax advisors, we specialize in providing tailored support to the pub and hospitality sector. With nearly a decade of experience serving pub & bar tenants, freeholders, leaseholders, breweries, and importers/exporters, we've honed our expertise to navigate the unique financial challenges of this industry.
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It could be time to close those unnecessary limited companies House - New Associated Company Rules

New Associated Company Rules: Time to Consider Closing Unnecessary Limited Companies With the introduction of the New Associated Company Rules by HMRC in April 2023, business owners with multiple limited companies are facing significant changes to their tax obligations. These rules are intricately linked to the recent upward adjustment in corporation tax rates, designed to impact profits exceeding £50,000 per year. As the tax rate escalates to 25% for profits over £250,000, it's crucial for business owners to comprehend the implications of these changes and consider whether closing unnecessary limited companies might be a strategic move.
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I'm selling assets from my company; do I need to charge VAT? Cars, Vans, Furniture, Computers & Tools

If you are selling assets owned by your VAT registered business, the general rules on whether or not to charge VAT are as follows:
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Non-UK Organisations - How to setup and operate a branch in the United Kingdom?

First, you need to notify Companies House by completing the Form OS IN01 here: https://assets.publishing.service.gov.uk/government/uploads/ system/uploads/attachment_data/file/949740/OS_IN01-V7.0.pdf. Yes, in the 21st century this form still needs to be posted to the following addresses based on whether or not you are registering your branch in England, Wales, Scotland or Northern Ireland:
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VAT and Independent Supported Living (ISL) - be careful, not all care services are VAT exempt!

As expert accountants in the care sector, we have encountered numerous instances where Independent Supported Living (ISL) providers mistakenly assume their services are exempt from VAT. However, this assumption is not always accurate, and non-regulated ISL providers may be required to register for VAT and charge it at a Standard Rate of 20%. If your ISL service is not state regulated, you might need to backdate your VAT registration if your revenues exceed £85,000 per annum. Moreover, from October 2023, all private ISL providers must register with OFSTED to continue trading legally, which could require additional VAT registration and deregistration processes.
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Accountants for Support Living Service Providers

Are you a Support Living service provider seeking reliable accounting and tax solutions tailored to your industry's unique needs? Look no further! Spondoo Accountants, a team of fully licensed and experienced accountants and tax advisers, has been supporting care organizations for over a decade. We specialize in navigating the complexities of state regulations, such as those from the Care Quality Commission (CQC) and OFSTED. From preparing statutory accounts and handling tax returns to providing financial plans and registration support, our comprehensive services ensure your business stays compliant and financially sound.
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Charging VAT when my customer is in the UK, but the construction project or oil rig is outside the UK?

As a UK business providing services to a UK customer, it's essential to understand the specific rules regarding VAT charging for projects outside the UK. While you typically charge VAT at the Standard Rate (20%) for services provided within the UK, special considerations apply when dealing with construction projects or oil rigs located outside the UK. In such cases, the VAT treatment is determined by the location of the land or oil rig itself rather than the customer's location. This article provides insights into the VAT treatment for UK businesses in such situations.
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I have a UK company with a branch in another country - what are my UK compliance requirements?

As a UK-based company with a branch operating in a foreign country, it's crucial to be aware of the compliance obligations in both the foreign jurisdiction and the UK. While the focus is often on meeting the requirements in the foreign country, UK companies must also address specific reporting obligations back home. In this article, we'll outline key UK compliance requirements, including segmental reporting, consolidated accounts, and accounting for foreign tax credits.
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ACCOUNTING BI VS FUTRLI – your Futrli alternative

Sick of paying too much for restrictive financial dashboards? Accounting.BI is a game-changing solution for businesses seeking comprehensive financial data and advanced reporting capabilities. Unlike traditional financial dashboards, Accounting.BI offers unparalleled flexibility and a wide range of features, surpassing the limitations of Futrli. Discover the advantages of Accounting.BI compared to Futrli. 
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Can my limited company loan money to another limited company owned by me or a family member?

In short, the answer is yes. Yes, your limited company can indeed loan money to another limited company owned by you or a family member. From a legal standpoint, the director of the lending company must ensure that the business has sufficient funds to provide the loan without jeopardizing its own financial stability.
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I am buying a building for my shop, can I claim the Structures and Building Allowance (SBA)?

When you're purchasing a building for your shop, it's crucial to explore all possible avenues to optimize your financial situation. One such avenue is the Structures and Building Allowance (SBA). In this article, we will delve into instances whereby you can or cannot claim it for your shop build.
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ARE OVERSEAS (NON-UK) EMPLOYERS SUBJECT TO EMPLOYERS' NATIONAL INSURANCE (SOCIAL SECURITY) IN THE UNITED KINGDOM?

Most overseas employers are subject to UK national insurance on their UK staff salaries when they have a taxable presence in the UK for PAYE purposes. If the non-UK employer has all of their UK employees working from home and does not have a physical address/office, subsidiary, branch, or taxable presence, it is likely that they will not be subject to employers' National Insurance on their UK staff wages.
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DOES THE MILEAGE ALLOWANCE OF £0.45 INCLUDE PARKING AND CONGESTION CHARGES?

According to the Business Income Manual published by HMRC (Her Majesty s Revenue and Customs), the mileage allowance of £0.45 per mile (first 10,000 miles) and £0.25 (after 10,000 miles) are solely intended to cover the cost of fuel and wear and tear on a vehicle.
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IS THERE NATIONAL INSURANCE ON EMPLOYEES OVER STATE PENSION AGE?

There is only Employers National Insurance (Secondary Class 1) on the earnings of employees over State Pension Age.
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CHARGE MY LIMITED COMPANY RENT FOR HOME OFFICE - FREE TENANCY AGREEMENT TEMPLATE

When working from home as a limited company director, you can claim working from home allowance under the rules of a normal employee. You can find these here https://www.spondoo.co.uk/tips/working-from-home-allowance-calculator-employed-individuals/ However, as a director of a limited company it can be more tax efficient to setup an agreement with your company and charge a market rate for renting your home office out to your company.
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CAN I PUT MENTAL HEALTH COUNSELLING THROUGH MY LIMITED COMPANY WITHOUT TRIGGERING A TAXABLE BENEFIT?

Limited companies can provide their employees with mental health & welfare counselling without triggering a taxable benefit whilst also claiming a deduction in their corporation tax return. If you run your own limited company as a sole director, you must ensure that the contract and invoices from your counsellor are in the name of your company and not your own.
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PAYING EMPLOYEES FOR FOOD (SUBSISTENCE) COSTS WITHOUT AN INVOICE - HMRC'S SCALE PAYMENTS

Under HMRC's Scale Payments, employers are allowed to pay employees a set amount for meals and other subsistence costs incurred while travelling for work, without the need for invoices or receipts. The amount that can be reimbursed is based on an approved rate set by HMRC. HMRC has set a limit on the amount that can be claimed for meals and accommodation without providing a receipt. The payments are based on the HMRC’s published benchmark rates, which consider factors such as the location of the trip, distance travelled, the type of accommodation and the time spent away from the usual place of work.
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A GUIDE ON HOW TO SET UP A DIRECT DEBIT FOR PAYE

The HMRC website provides detailed instructions on how to set up a direct debit for PAYE. It is quite simple to set up a direct debit with HMRC, but it is something that the employer must do rather than agents, due to signatory on the bank account.
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WHERE CAN I GET/DOWNLOAD MY POSTPONED IMPORT VAT STATEMENT

Businesses can defer payment of VAT on imported goods until the import procedure is completed, this is known as ‘postponed import VAT. A Postponed Import VAT Statement is an accounting document issued by HMRC and is used to declare the VAT that is due on the imported goods. Your company must be registered for the Customs Declaration Service to use Postponed VAT accounting services.
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What address do I use to post my accounts to Companies House?

Some types of companies cannot send their accounts to Companies House electronically so you will need to send them in the post. The address for posting your company accounts changes based on where your company is registered:
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'VAT Pre-Registration Claim - can I claim VAT on items before I incorporated my limited company?'

Pre-incorporation When you register for VAT, you can usually perform a pre-registration claim for your input VAT going back 6 months on services and 4 years on goods. This can prove helpful to businesses registering for VAT by providing a much needed cashflow boost. However, it can be confusing for business making this pre-registration claim when they previously trade as an unincorporated sole trader (aka self-employed business) before incorporating as a limited company.
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FRANCHISE FEES - THE CONFUSING WORLD OF TAX RELIEF ON YOUR FRANCHISE FEES

When you buy a franchise most reasonable people would assume all your franchise fees are an obvious business expense and fully deductible. Well, HMRC's view is not quite so simple, and it requires the franchisee to treat the different elements separately. Typically franchise fees are paid as an initial lump sum, followed by a monthly or annual payment.
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ACCOUNTANTS FOR CREATIVES

As accountants for the creative industry, we are here to help you navigate the financial side of your business, so that you can focus on what you do best.   Our accounting services for creatives comprise of the following: • Track your income and spending: We can help you monitor all the money coming in and going out of your firm, which may be important at tax time or when assessing your financial situation. • We help you take advantage of all your tax deductions and credits while saving you money when file your tax return. We may also assist you lower your tax obligation. Our expert accountants know the ins and outs of the tax law and will assist you in maximizing the deductions that you are eligible for. • Build a financial strategy to expand your company or make a large purchase. We help you develop a budget, anticipate income and spending, and identify financial bottlenecks. • Advise on business structure: If you're unsure whether to operate as a sole proprietorship, partnership, or limited company, our accountants can assist you pick the correct type of entity. • Prepare and file your taxes: Most individuals would prefer to have an accountant handle this for them. We can help you submit your taxes accurately and on schedule, avoiding penalties and interest for late or incomplete submissions.
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ANNUAL ACCOUNTING SCHEME - MY INTERIM PAYMENTS ARE TOO HIGH! HOW DO I REDUCE THEM?

The Annual Accounting Scheme is a VAT scheme which allows businesses to make advance VAT payments to HM Revenue and Customs (HMRC). This can be helpful for businesses which have difficulty making VAT payments on time. If you feel that your interim payments to HMRC under the Annual Accounting Scheme are incorrect, you can request that they be reassessed by writing to HMRC. Alternatively, you can write to HMRC to ask if you can leave the VAT Annual Accounting Scheme to join another scheme.
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Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. Spondoo is a trading name for Accounting SQL Limited, authorised & license accounting firm under the Institute of Financial Accountants.
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