Reilly joined Kidwells Accountancy in 2021 as an apprentice while studying one day a week at Hereford and Ludlow College. To celebrate National Apprenticeship Week we asked him why he chose this route for his training. Why apprenticeship and not University? I chose to go through the apprentice route instead of going to university because […]

Making Tax Digital for Income Tax Self-Assessment will apply from 6 April 2024 for sole traders and landlords with a total income of over £10,000 a year.  For landlords, this figure is a combined total of however many properties you own.   Changes for landlords You’ll need to change the way you file your tax return by doing it digitally and declaring your total income for the year

If you are required to submit a Self-Assessment Tax Return it’s essential you get it in on time and with no mistakes to avoid any penalties. Choosing the incorrect accounting method HMRC introduced two simpler tax schemes for smaller businesses (sole traders or partnerships) designed to make it easier for small firms to manage their

Finance Director for the entirety of the Kidwells Group, Emily Horne, had the pleasure of being invited to Herefordshire & Ludlow College as the guest speaker for their annual Apprenticeship Awards. Emily started her accountancy journey at the College and previously worked there as a Purchase Control Officer and Supervisor. Attending the event was paramount

We’re delighted to announce the promotion of Amber Kelly to Trainee Accountant and Supervisor. Amber has been a vital part of the Kidwells Accountancy’s team and has helped us achieve our Xero Bronze Partner status. In January 2021, Amber joined the team to support the Kidwells Solicitors team in their Finance Department. She provided administrative

As an employer, you need to operate PAYE as part of your payroll.   PAYE is the system that HM Revenue and Customs (HMRC) use to collect Income Tax and National Insurance from employment.   Payroll is recording information about employees, calculating workers’ pay and deductions, reporting payroll data to HMRC, calculating out how much tax the employer needs to pay and working out statutory pay, for example, sick pay or

Making the shift from business owner to an employer? Bear in mind you have regular wages to pay and the cost of an employee is not just the salary. There are other costs of employment you need to consider.  How much to pay an employee?  If you decide you want to employ someone for your business

Bookkeeping is probably the least favourite task of most business owners. It can be time-consuming and doesn’t produce any profit. Using a bookkeeper can be beneficial, but there are benefits to doing it yourself too.  Pros  When you start you may find the process simple and interesting but doing a similar task every day can be distracting. This

Unfortunately, your self-assessment won’t magically do itself so it can’t be avoided by putting it off. By tackling it early instead of waiting until the last minute, you may be able to save your business a lot of time, hassle, and money.  You have more time to register  If this is the first year you’ve

What is IR35?  IR35 is tax legislation to determine a genuine business from a disguised employee to reclaim the additional PAYE tax and NICs that they would have paid as an employee.   It is aimed at personal service companies (limited company contractors) who may be working more as an employee of their end client rather than providing a