Knowledge
Latest from the blog
What is MTD for ITSA? The complete guide for business owners
Many people are navigating the ins and outs of Making Tax Digital for income tax self-assessment, but what is MTD for ITSA?
The fifth deferral of MTD for income tax self assessment and what it means for you
Numerous delays to MTD for income tax self assessment mean it will roll out from April 2026. Find out how this impacts you and how to stay compliant here.
Choosing the right MTD for ITSA software
Making Tax Digital will be rolling out to self-assessment tax-payers. Learn about choosing compatible MTD for ITSA software here.
Latest Publications
Spring Budget 2024
March 7, 2024
Vote winning announcements are always expected from a Chancellor's budget in an election year. Despite stagnant economy and limited fiscal headroom, Jeremy Hunt still announced a few tax cuts and other surprises.
The benefits of early adoption of MTD for ITSA: A guide for forward-thinking businesses
March 6, 2024
Embrace the shift! MTD for self-assessment & landlords transforms tax reporting to digital-first, quarterly filings. Start early, end the tax return panic.
Mastering business expenses
March 3, 2024
In today’s economic landscape, where financial acumen plays a pivotal role in the sustainability and growth of any business, the importance of effectively managing business expenses cannot be overstated.
Personal Financial Planning
March 1, 2024
Whether you’re putting a personal financial plan together for the first time or you want to revisit your strategy, here are a few personal financial planning tips to help you secure your financial future in 2024.
Is property investment for you?
February 15, 2024
Many individuals invest in real estate to boost their income and gain greater financial security. But while the journey can be rewarding, it also requires committing a significant amount of your own time and money. So, how do you know if property investment is right for you? In this guide, we outline what you need to consider when making your decision, from assessing your personal finances and setting goals for the future to exploring the pros and cons of becoming a property investor.
The ABC's of VAT
February 6, 2024
VAT is known for being complicated, and many small business owners find it difficult to get right. The purpose of this guide is to simplify the VAT process for business owners and provide clear, easy-to-understand instructions for managing VAT responsibilities effectively.
Year End Tax Guide 2023/24
February 2, 2024
The conclusion of the 2023/24 tax year prompts us to reflect on some of the notable developments in the fiscal landscape. This past year has been marked by ongoing efforts to recover from the economic impact of the global pandemic. Inflation has emerged as a significant concern, influenced by persistent disruptions in the supply chain and geopolitical tensions. To address these economic challenges, the Government has adjusted tax policies to balance revenue generation with support for businesses and individuals.
Recruitment - Should you hire or outsource accounting
January 3, 2024
unning a successful business entails astute financial management, and at the core of this is the crucial decision of how to handle your accounting needs. Should you bring a full-time, in-house accountant into the fold, or does the more flexible route of outsourcing better suit your business objectives?
Self-Assessment
December 15, 2023
The UK self-assessment system has its quirks and nuances, and understanding how to stay compliant is crucial to a smooth and stress-free income tax process. From early paper deadlines to penalties for late-filers, self-assessment holds a few surprises. As always, a professional accountant can help you navigate the process successfully, make the most of available tax reliefs, and avoid potential pitfalls along the way.
A Comprehensive guide to qualifying R&D Expenditure for HMRC R&D tax credits
September 26, 2023
HMRC R&D tax credits can give innovative businesses a financial boost – but what qualifies as R&D expenditure? Read our guide to demystify the rules.
A guide to Xero accounting software for businesses
July 4, 2023
At James Scott, we love Xero and everything it has to offer small and medium businesses. That’s why we’re a Xero gold partner. We’re here to help you with all things Xero accounting software.
A practical guide to eCommerce accounting for ambitious business owners
April 21, 2023
The secret to any successful business is financial control. Here’s a practical guide to eCommerce accounting for ambitious business owners.
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