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Elaine Clark

CheapAccounting.co.uk

Chartered Accountant

32

Contributions

CheapAccounting.co.uk




About the company

CheapAccounting.co.uk delivers quality, affordable and professional accountancy services as standard to UK businesses, whatever their size. By delivering online accountancy services at a cost effective price, CheapAccounting.co.uk supports the growth of the micro business economy in the UK.

About Elaine Clark

Elaine Clark is managing director of the award-winning national accountancy firm CheapAccounting.co.uk.

She was named the winner of the Woman in Finance Award by the Network of Aspiring Women in 2011. She has made several appearances on BBC Radio 4’s Money Box with Paul Lewis and is frequently asked by newspapers, magazines and websites to provide expert comment about tax, finance and other issues relevant to small and medium-sized businesses in the UK.

In January 2015 Elaine Clark was named as the 8th most influential source of finance news and information in social media by economia readers.

ELAINE'S CONTRIBUTIONS

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IR35 Business Entity Test - but what are the examples about?

Last week HMRC issued a paper on the Intermediaries Legislation – commonly referred to as IR35. It covered the HMRC approach to a risk-based assessment of whether or not the IR35 legislation could apply to a limited company or partnership....

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Why we need a Budget for small businesses

As part of his speech at the Federation of Small Businesses policy conference, George Osborne highlighted some measures being introduced for small businesses that will help them to save money. In particular he highlighted the Employer’s National Insurance Tax Break, which he claims will lift 40......

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Tax is taxing, but here's your starter for ten

Each year it seems that the UK tax system gets more and more complicated. Would you believe that over 600 pages of new tax laws are passed and produced each year? So rather than the promised tax simplification things are progressing very much in the other direction....

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The RTI truth and nothing but the RTI truth

Everyone’s talking about it – you must have heard of it by now? Just in case you haven’t, RTI (Real Time Information) is a new system being imposed by HMRC on employers from April 2013**....

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Time for the usual Budget bun fight?

The March 2013 Budget Statement is fast approaching. You can tell, because news stories start flying around about defence, welfare or tax cuts being the very thing that should be made a priority....

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Will the forthcoming child benefit tax charge affect you?

I have to say that the rules for this new child benefit tax charge are the most complicated I have seen and a huge challenge for me to explain in simple terms. Not only that, but also the most bizarre and random date for implementation has been chosen (7 January 2013 – part way through the mont......

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Principles and pitfalls of the new cash accounting scheme

In the recent Budget, the Chancellor committed to simplifying small business accounting by the proposed introduction of a new way of working – a cash accounting scheme....

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National debt and tax dodges - is HMRC guilty of using a loophole in common sense?

I’ve just received an email from a Government department telling me that they are making some website screen changes based upon the feedback from users. It said .......

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Struggling for extra finance - get £4,250 tax free with a lodger

For many people, making ends meet is a challenge at the moment. Add to this the challenge of trying to find funds to start or support a business and the household finances could reach boiling point. Elaine Clark explains one easy way that can help. ......

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Do you know what cash accounting means? Find out here

Last week’s Budget saw the announcement that a consultation would take place on the proposal to allow unincorporated businesses with sales of less than £77,000 a year to prepare their accounts using …......

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What can businesses expect in the 2012-13 budget?

What can we expect in Wednesday’s Budget? Elaine Clark explains how the year ahead is looking for microbusinesses – and reminds us what changes are already on the horizon......

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Tax changes - can any government get it right?

Today saw a call from 500 top entrepreneurs to George Osborne to cut the 50p tax rate....

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What you need to know about finding an accountant

The term “accountant” is not regulated, so anyone can call themselves an accountant regardless of their background, experience, training or professional qualifications....

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A basic introduction to bookkeeping, bank accounts and allowable expenses

Every business needs accounts. They may differ in format and complexity, but every self-employed person must produce accounts to complete their tax return, while limited companies must complete accounts according to the Companies Act. Here are the answers to a few frequently asked questions about st......

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RTI: possible late-payment penalties

There seems to be some confusion about the new Real Time Information rules (RTI) and when penalties apply. There are three situations where a fine can be imposed....

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The dangers of using spreadsheets for accounting

In this day and age of cloud computing, mobile apps and so on, the spreadsheet really has had its day when it comes to your accounting system. Why? While it may seem like a very cheap or free option, using an accounting spreadsheet can severely limit your options....

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When is it best to accept defeat and close down your business?

The past few years have been tough for most businesses and even highly experienced business people have suffered. Many a good business that in more prosperous times could have been successful has gone to the wall, with failure often being outside of the owner’s control....

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Tax rules about employing family members

On the face of it, employing family members can be a good idea. You know them well, so all of the issues of trust and reliance on a stranger should be eliminated....

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How to minimise your accountancy costs

Every business has different needs when it comes to using an accountant. Indeed, some may decide not to use one at all....

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Limited company director? Could you be earning more?

Some of you may be operating your own limited company. It might be just you, maybe you and your partner/spouse or you and your employees....

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Do you work at home? Rent a room to your company!

If you operate a limited company and work at home, why not rent a room to your business?......

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Ten top tips for completing your Employer Annual Return

Elaine Clark, www.cheapaccounting.co.uk......

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The Seven Deadly Sins of Social Media

There seems to be a lot of noise about social media just now but let’s not forget that it is just a tool to help you market your business....

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Child benefit tax charge - it may be legal but that doesn't make it fair

Today brings the implementation of one of the most inoperable tax changes I've seen in my long career as an accountant – the child benefit tax charge. While seemingly simple on the surface, the new child benefit tax charge seems to me to be a disaster waiting to happen......

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Q&A: Producing invoices

If you've never produced an invoice before, how do you know what to include? Chartered accountant Elaine Clark answers key questions about invoices....

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Controlling your costs

While you may not be able to influence how much customers spend, you can do is to control your costs and look at variable and fixed costs. ...

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Limited company filing responsibilities

Setting up a company is quick and easy, but it creates a range of administrative responsibilities. Here's a basic introduction to get you started....

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Sole trader v Ltd company tax calculator

Visit the cheapaccounting.co.uk website to use a simple online tool that enables you to estimate your take home pay after tax as a sole trader....

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Five common myths about accounts and taxation

There are many myths about accounting and taxation, most of them wide of the mark. So what's the reality? Time to dispel these five common myths....

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Five top tips for doing your own books

Maintaining your own financial records (doing your books) can seem daunting when you’re new to it. Elaine Clark gives her top five tips....

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Save money by renting a room in your home to your business

If you operate a limited company from premises, yet do some work at home, why not rent a room to your business and reduce your tax bill....