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From 1st October 2019 a new VAT Domestic Reverse Charge (DRC) in the construction industry will take effect.The new VAT Domestic Reverse Charge works in a similar way to the CIS scheme which means that the contractor (the one making payment for con... Read More

We’re really excited to announce our recent appointment of Paul Woods in a newly created role of Operations Director. Paul brings 20 years’ practice experience, including strategic and operational roles within firms such as Haines Watts and Tax... Read More

Online Payments are Changing

Posted by: Patrick Leavy

From the 14th September 2019 European regulations will require customers to use ‘strong authentication’ to make payments online within the European Economic Area (EEA), including the UK. These changes will apply to online payments when both the cardh... Read More

Recently Farnell Clarke was invited to complete a series of talks at a college in Norwich about personal finance and the feedback from the students was somewhat alarming.We were asked by Neaco’s Stephen Davies to help groups of 17-19 year olds t... Read More

Case study It’s Friday afternoon and a client is in panic mode and sends us a message: "The bank is low, and we need to pay our PAYE soon! It’s time to panic!". Does this sound familiar? So, what are the options here? We can either think “... Read More

The whole point of starting a business is to make money, right? To do that you must be profitable, but even then, with a healthy-looking monthly profit or loss statement, you can run into cash flow issues. Xero have released data showing the top 1... Read More

We have recently announced our acquisition of Aylsham-based firm RAK Accountancy Solutions Limited. The two businesses merge with effect from 1 February 2019. RAK Accountancy Solutions was formed by Richard Wilson in July 2008 and, over the pas... Read More

I recently spoke with Soldo, a spend management platform that is revolutionising expense management, about adapting and thriving in a tech-enabled world. We discussed the Digital Practice and how it has evolved over the years, the ideal technolog... Read More

Perhaps we’ve been recommended to you, or you’ve been browsing our website and you like what you see. But what happens next?Firstly, talk to us! Whether that’s via an email, social media message or a phone call. A member of our Client Services Team... Read More

So you’re considering a change of accountant, or you're just starting out... what do you need to consider when looking for a new accountant?Firstly, as you’d expect, make sure they’re qualified.Secondly, software! We’re sure you’ve heard of Making Ta... Read More

What is S455 tax?

Posted by: Amy Patterson

This tax is usually payable when you live beyond your means! Well not always, but quite often!S455 tax is essentially a holding tax payable by the company. If your Director’s Loan Account is overdrawn at the end of the company accounting year, and... Read More

How to pay an overdrawn Director’s Loan AccountWhoops…you have got an overdrawn Director’s Loan Account!Here is how to pay it… There are two ways to clear an overdrawn Director’s Loan Account:You can pay the overdrawn sum using your personal accoun... Read More