Alchemy blog

Creative businesses 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 get off the ground. One topic...

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...

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,...

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,...

Every year, almost without fail, we hear about the last-minute panic business owners, freelancers and contractors go through as they rush to complete their self-assessment tax returns. This year, around 5,542,000 taxpayers left submitting their 2017/18 returns until...

Computer game development studios have some of the most complex payroll situations of any business. Staff numbers surge as projects gather momentum, usually bolstered with freelance staff and contractors. It’s not unusual for some of those project staff to be...

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...

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 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...

Whether you operate your photography business as a sole trader or through a limited company, it's important to make sure you're claiming all the tax relief on business expenses you're entitled to. The rules can seem complicated, especially for things like utilities...

I read somewhere once that you must be ruthless to be a business owner. Steve Jobs also famously narrated Apple’s ‘here’s to the crazy ones’ advertisement, a nod to entrepreneurs and start-up businesses, basically implying that there’s got to be something a bit...

This is a question that I am often asked by clients seeking higher returns on their cash than they would otherwise achieve from a bank, where they do not want to extract the cash from the company due to the tax that would be suffered on dividends, or believe that the...

IR35 is an anti-avoidance tax that has been around since the turn of the century. It’s objective is to prevent individuals that would otherwise be an employee from engaging via a limited company and receiving the tax benefits associated with being in business. Since...