News & blog

HMRC are constantly reviewing their practices, and the latest change to this is the way they are penalising late submissions on VAT and Income Tax Self Assessment (ITSA).  To make late submission penalties fairer and more consistent across all taxes, HMRC have changed the way they issue penalties. Taxpayers will...

Accountancy firm Turas Accountants is saying thank you to Telford & Wrekin Hockey Club with a sponsored banner on the club’s pitch.   Helen Columb of Turas, said that her daughter, Lucy Jones-Columb, had played with the club for the past nine years.   “She’s now 22 and continues to...

In the first budget by Jeremy Hunt, set against the back drop of a mini budget that was then virtually all retracted and a black hole in the country’s finances, there was always going to be some dramatics. Here’s our round up of the key take aways.   State pension...

The new chancellor Jeremy Hunt has today announced a reversal to most of the tax cuts that were being rolled out following the mini budget three weeks ago.   The corporation tax cut has been repealed and will revert to the format that Rishi Sunak had put in place.  This...

If this is the first time you have had to think about paying employees, payroll can be a daunting thought. There is quite a lot of pressure to make sure you are doing everything correctly to ensure employees are being paid the right amount, tax and national insurance are taken...

With much speculation over the direction of the new leadership, today the new Chancellor, Kwasi Kwarteng unveiled his plan with an Emergency mini-budget with a raft of tax cuts aimed at businesses. We’ve read through the documents and have created a summary highlighting the key points.   Corporation Tax Planned...

We understand that paying for an accountant is something all business owners wish they could avoid. Quite a lot of small business owners look for the cheapest service possible in order to save money on expenses. However, there are many reasons to why you should never use a cheap accountant,...

Do you have an ecommerce business? Are you thinking of starting to sell products online?  Selling products and services online can create a huge amount of bookkeeping and accounting tasks that you need to dedicate time every week to. If you put these tasks off, they can quickly and easily...

Getting your head around your business accounts can be difficult, time consuming and often overwhelming.  At Turas Accountants in Telford, we recommend Xero to all of our clients as it is simple to use, reasonably priced, and has so many features that are great for any business owner.  Excellent Reporting...