Alchemy blog

 

Honest opinion and illuminating comment

At Alchemy, we believe in clarity and honesty, and the blog is where we put that into practice. We’ll keep you updated on the latest developments in tax law and government legislation, unpicking what each change really means for you and your business.

Online accounting has only just begun to change the world

Online accounting has only just begun to change the world

If you weren’t already using online accounting software at the start of 2019, you’ve probably heard a lot about it since – especially if you’re running a VAT-registered business that was included in the introduction of Making Tax Digital (MTD). The new rules, which...

What’s the difference between a contractor and a freelancer?

What’s the difference between a contractor and a freelancer?

Last month the UK’s self-employed population passed five million for the first time, and many of those – certainly in the North West – are contractors or freelancers. According to IPSE, around 8% of the UK’s contractor population is based up here, which is hardly...

Why you should choose a smaller accountancy firm

Why you should choose a smaller accountancy firm

There’s a lot to be said for choosing a smaller accountancy firm, from a personalised service to real local knowledge. Whether it’s artisanal wool from the Ribble Valley or traders at Preston’s street food market, small, independent and local are values that matter...

Funding your creative business

Funding your creative business

Creative businesses in the North West of England have plenty of options when it comes to funding – it doesn’t just have to be about banks and investors these days. Having started my own business, I’m genuinely fascinated by the stories of entrepreneurs and how they...

Home working and tax

Home working and tax

Working from home is becoming more common. It comes with a lot of advantages but also some implications for your tax bill. By the time I started my professional career, smartphones were all the rage and the idea that everyone ought to sit at their office desk from...

Management accounting: knowledge is power

Management accounting: knowledge is power

I’m a big believer in the importance of management accounting in giving people who operate businesses the information they need to make strategic decisions. There are very few sure things in business and at a certain point, you just have to make a call. Still,...

Which online accounting software is best?

Which online accounting software is best?

The sheer range of accounting software on the market these days is amazing but, as is the Alchemy way, we like to cut through the fog and give a clear answer. So, here it is: If you’re an individual working as a freelancer, contractor or operating a one-person SME,...

Understanding R&D tax credits for developers

Understanding R&D tax credits for developers

Businesses working on cutting-edge products or processes can be eligible for corporation tax relief in the form of research and development (R&D) credits. These were launched by the UK government in 2000 to encourage the emergence of the next Dyson or ARM, producing...

Tax for creatives – company structures, R&D relief and IR35

Tax for creatives – company structures, R&D relief and IR35

If we’re honest, tax and accountancy are about as far from the business of creativity as it’s possible to get. And the thrill of completing a self-assessment tax return or wading through corporation tax guidance on the HMRC website certainly isn’t why most people...

Bookkeeping for Small Business

Bookkeeping for Small Business

Bookkeeping isn’t exactly known for its glamour. Indeed, many accountants see it as low value work; some even see it as being beneath them – but the number of business owners that get this wrong, having not been given proper...

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