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KPIs – Key Performance Indicators – A term often used in business, but a technique not often utilised by businesses.

This article will enlighten you to the importance of these indicators and how you’re doing your business a disservice if you’re not aware of or tracking your KPIs.

As of 1^st April 2025, owners of EV or low emissions cars will be expected to pay tax in the same way as petrol and diesel vehicle owners. That leaves you with a small window of opportunity to extend your free vehicle tax benefits for a further year, providing you renew your tax this month.

The Autumn Budget saw the government confirm that from April 2026, payroll for all benefits in kind except accommodation and employment-related loans will be mandatory. Payrolling for these two benefits will be introduced voluntarily from the same date, with the government providing further details in due course.

As we’re sure you’re all aware, our recent change in government resulted in some changes to employee and employer National Insurance (NI) contributions…

As of 1^st December 2024, HMRC has implemented revised Advisory Fuel Rates (AFRs) for company cars, depending on their engine size and fuel type. Here at Ellacott Morris we have summarised these changes below to help companies and company car drivers understand how they may be affected.

As a business owner, we know you appreciate the importance of value for money. Whether you’re assessing the cost of the products and services you procure, or the cost of the products or services you offer. But, when it comes to your business finances and deciding if you should outsource your requirements or manage them in-house, have you done your sums when it comes to the best value for money?

As an employer, do you understand the rules surrounding tax on trivial benefits and the differences if trivial benefits are provided as part of a salary sacrifice scheme?

Another Bump in the Road for Double Cab Owners

Managing costs and running your business efficiently is key as a business owner.

We appreciate that growing a business can be both exciting and challenging, especially when it comes to managing finances effectively. Many scaling businesses face the dilemma of needing expert financial management without wanting to incur the costs of an in-house employee or team.

This is where a virtual finance department can be a game-changer. This is a solution that provides the ‘must-have’ but at an affordable rate! Bingo!

You may be surprised to know that there are various pots of funding and financial support opportunities available to businesses, in addition to normal business finance solutions. Here at Ellacott Morris, we’ve collated a few sources below, which are available to Essex businesses.

If your business can afford to give to charity, then it makes good business sense to do so. Not only are there tax benefits, but charitable giving also provides a whole host of other benefits to your business… 

If you’re looking to change the accounting software your business uses, or you’re looking to change accountant, and your preferred company uses a different system to you, then how do you make the switch?

What’s the most crucial element of your business? Your finances! A good understanding of your financial position and steady control of your numbers are vital to your business’s success. Poor cash flow can kill a company, bad debt can destroy a business… Therefore, it’s time to get more account-able! 

Sadly, not everything is always as it seems and it’s important in our digital age to be aware of scams and suspicious activity.

Imagine, hypothetically of course, that you own a property which is rented out, but you inadvertently overlooked your responsibility to pay tax on the rental income you’ve been receiving. What would you do?

At Ellacott Morris we like to keep everyone up to date with any changes that could affect our clients. The changes to the High Income Child Benefit Charge (HICBC) that are due to come into force in April 2024 will impact a lot of people…

In a recent development, HMRC caused a stir by announcing the closure of their self-assessment helpline for six months of the year, starting from April this year. However, the decision was temporarily paused less than a day later following a significant backlash.

Here’s some good news for anyone paid minimum wage - as of 1^st April 2024, all rates are set to increase.

Are you interested in finance and numbers? Have you ever considered a career as an accountant but weren't sure what exactly an accountant does? Look no further!

Hiring an accountant in the UK can be a critical decision for businesses of all sizes. However, the cost of hiring an accountant can vary depending on several factors, including the complexity of your financial situation, the size of your business, and the specific services you require.

When it comes to managing your business and personal tax affairs, having a Government Gateway account is essential.

Do you offer company health insurance for your employees? Have you considered how healthy insurance can impact the overall health of your business and not just your staff?  

Here are our top ten benefits of company health insurance…. 

When it comes to choosing a commercial van for your business, there are several options for you to consider. It can be confusing to know which is the most financially suitable and sensible option for your financial arrangements. We’re here to help you avoid any bumps in the road and make the best decision for your business… 

The way that self-employed taxpayers submit their self-assessment tax returns in set to change… It’s important to be aware that if you own a business or are self-employed and pay income tax, national insurance, VAT or corporation tax, then it is likely you will be affected by the arrival of Making Tax Digital (MTD). 

In our increasingly ‘virtual’ world, it’s no surprise that even assets now come in digital form.  

IR35 is a piece of tax legislation that was enforced in 2000, designed to reduce exploitation of the tax system by contractors supplying their services through a limited company when really the role they are undertaking should be that of an employed person.

Have you heard about the new online sales reporting rules? It's important to understand these changes and how they may affect you. Here's what you need to know ...

This January, Xero have announced their new simplified process for UK bank feeds within Xero, making the team at Ellacott Morris even more pleased with Xero as our chosen cloud accounting software.  

If you have a rental property or portfolio of properties, it’s important to understand what is classed as an allowable expense against your rental income.