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contact@balloonaccounting.co.uk
BH12 1PN, Poole, UK

Category: Tax

your business, changing lives

Hand holding 2025

Navigating 2025: Key Considerations for Businesses in the Care Sector

Happy New Year! As we step into 2025, it’s a great time to pause and reflect on the challenges and opportunities ahead for those of us operating in the care sector. Whether you run a fostering agency, a nursery, a care home, mental health support or indeed any another business supporting vulnerable individuals, the start…
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Understanding Trivial Benefits for Staff and Directors: A Handy Guide

As an employer or director, you might want to show appreciation to your team or treat yourself with a little something now and then. But did you know there’s a way to provide small, tax-free perks without triggering a tax liability? Trivial benefits are a great way to do just that. Here’s a straightforward guide…
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Planning the Perfect Staff Christmas Party: A Guide to Tax-Free Celebrations

As Christmas approaches, many businesses are gearing up for their annual staff Christmas party. While it’s a great way to reward your team and celebrate the year, there are a few tax implications to keep in mind to ensure your party doesn’t come with an unexpected bill. Here’s a straightforward guide to help you understand…
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The new VAT Penalty Regime – January 2023

HMRC are introducing a new penalty regime with effect from 1st January 2023. Under the new regime, there will be separate penalties for late VAT returns and late payment of VAT as well as a new methodology to the way interest is charged. This will replace the default surcharge regime and for most taxpayers should…
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Electric Car

Company Tax Tip – Buying an Electric Car

Having a company car used to be seen as a considerable perk. But in recent years it’s become less clear whether having a conventionally powered company car as part of your income mix is a good idea – both from a tax perspective and from a sustainability angle. The good news is that electric vehicles…
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Our Annual Accounts Meeting

Our Annual Accounts Meeting It’s important to understand your Annual Accounts and taxation commitments. These reports tell an important story about your business; understanding them is one of your first steps towards making better and more informed business decisions. An Annual Accounts Review meeting gives you the chance to: Improve your financial awareness skills Identify…
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Virtual Finance Office – How we support you

Virtual Finance Office – How we support you Running any business is hard enough isn’t it ? There’s the financial records to maintain, the customers to source, suppliers to deal with, payments to make, invoices to chase, staff to pay, marketing to be achieved and that’s before breakfast ! So wouldn’t it be a good…
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Spring Statement 2022

Spring Statement 2022 The Chancellor, Rishi Sunak, delivered his Spring Statement on 23 March. Faced with the task of creating a ‘strong economy’ for the UK, against the challenging background of high inflation, rising costs and the threat of conflict in Europe, he announced a raft of new measures. So, what was in the Spring…
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Your company year-end is approaching – let’s get ready

Your company year-end is approaching – let’s get ready As your company year-end date gets closer, there are a number of administrative and financial tasks to start planning for – so it’s a good idea to get yourself organised and ready. There are several things to check, either on the year-end date, or before the…
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Setting up your business foundations

Setting up your business foundations To trade as a business, you need to meet the right compliance requirements. It’s certainly not the most exciting part of creating a business, but setting up the right legal, accounting and tax compliance foundations ensures that you’re doing everything by the letter of the law. Here are the main…
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