Our thoughts and musings

Here you will find our thoughts and musings about Profit First and a whole range of other accountancy topics. 

Do I Need To Register For VAT?

Do I need to register for VAT? In short, no, unless your company has reached the UK’s VAT threshold of £85,000. However, we’re not competing for the title of “world’s shortest blog” so we’ll explain in more detail why you might want to wait until you’re at this level – especially if you’re a start-up.

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Why has the tax on my payslip changed this month?

Picture this. It’s payday, you’ve been waiting all month to see your bank account go up and the time is finally here. No feeling quite like it is there? Except for, of course, when you check  that payslip and realise money has been deducted; it leaves you looking at the number we all dread, questioning “why has the tax on my payslip changed this month?”

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Press Release: Liverpool Mastermind

Duncan Lloyd, Managing Director at Cloud Accountant.com, will be a keynote speaker at Fitness Marketing Agency’s latest Mastermind conference. The networking event, which is taking place at Liverpool FC’s Anfield stadium on Friday 24th September 2021, is set to welcome business owners from across the Mastermind community. Attendees will have the opportunity to connect with other entrepreneurs, sharing ideas, information and building relationships throughout the duration of the day. There will also be talks from a number of speakers covering finance, marketing, operations and sales systems. A Chartered Accountant, Duncan will introduce Profit First to this year’s Mastermind audience, outlining

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What is Partial Exemption for VAT?

Whenever you’re working with VAT, it’s essential that you have a clear understanding of what partial exemption is. Failure to account for VAT properly can lead to penalties of up to 100% of the tax underpaid plus interest, so getting it right is key.

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Budgeting for training providers

The Ultimate Budgeting Template For Training Providers

Ah, budgeting. The bane of everybody’s life, unless you’re a Premier League footballer drawing in a cool £250,000 a week. For those of us who live in the real world, it’s a crucial way of managing your finances and analysing what areas of your business – and your life – are soaking up your hard-earned cash. When done correctly, it can be an invaluable tool and one our accounting experts at Cloud Accountant.com highly recommend.

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should i get myself a company car

Should I get myself a company car?

It’s Friday night and you’re in the pub after work for a drink (remember those?). Your friend is on about their brand-spanking new BMW 3 Series with the heated seats and fancy alloys. “Yeah it’s part of the perks of becoming Operations Director”, they say. Meanwhile, you’re thinking of your old, tired-looking motor parked on the drive at home that has been slowly destroyed inside by the kids. Lo and behold, the motoring Gods answer your prayers and later that month you’re offered your own business vehicle. You think, “fantastic, but should I get a company car? IS it actually

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how do i pay less tax

How can I pay less tax?

It doesn’t matter whether you’re a seasoned employee or a fresh-faced apprentice; it’s always crushing to see how much tax has been taken from your monthly payslip. The looming spectre of the Taxman has even made it into popular culture, with both The Beatles and The Kinks once taking a swipe (although with the size of their bank accounts, they probably don’t miss the money as much!).

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