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If you have submitted a self-assessment tax return you may have been asked to make a ‘payment on account’ (POA) but are unsure what this means and why you’ve been asked to make it.  

More great news from HMRC for those who pay their tax via a self-assessment tax return… 

If you’ve even been caught out by your tax bill, or miscalculated what you thought it might be, then you’ll know what a nasty surprise you can be in for when you file your self-assessment tax return and see a figure you weren’t expecting. It happens to the best of us!  

If you’re considering changing the structure of your business or businesses to a group structure, you need to read on… 

It’s important to understand all the pros and cons of creating a group of companies. This blog article explains all the areas you should consider before deciding which is the best structure for your organisation.  

Back in April 2021 we shared a blog article on our website about super-deduction. Super-deduction was a scheme introduced following the pandemic to try and boost capital spending.

While electric vehicles (EVs) still only equate to a small percentage of vehicles on the roads in the UK, with plug-in EVs making up around 23% in 2023, going electric is a trend that is on the rise.  

At Ellacott Morris, our services are designed to help and support our clients, ensuring they make the right choices for their business’ stability and success. Part of our role as accountants involves sharing knowledge and checking understanding, therefore confirming that our clients make informed decisions and remain compliant to the many UK business laws and regulations.  

HMRC doesn’t just look at your tax return and assume everything adds up. They have access to an abundance of resources to help them paint the full picture and join up all the dots, being very careful not to miss a thing… 

As accountants, we hear a lot of frequently asked questions, and this one is possibly in the top ten!  

Can I separate my business to remain under the VAT threshold? 

Also known as ‘disaggregation’ or ‘artificial separation’, if not done correctly and for legitimate reasons, HMRC class this as a form of tax avoidance.  

Unsure if you need to register your business for VAT? Unclear when you need to register and why? Then read on and all will become clear… 

Here at Ellacott Morris we love nothing more than making life easier for our clients. That’s why Olivia Adams, one of our incredible accountants, has put together a series of videos demonstrating some of the main functions within Xero and Dext.

Gaining a rental income by letting out your property as a holiday home is a great way to add another revenue string to your bow, or even as your sole source of income. The important thing is that you are aware of all the rules and regulations before you decide to open your doors.

In the complex world of business finances, understanding terms like debtors and creditors is crucial. These concepts might sound daunting, but our expert team are here to break them down in plain English.

In today's digital age, the accounting industry is evolving rapidly, and embracing innovative technology is a must for firms aiming to stay competitive. We had the opportunity to sit down with Michelle Morris, the owner of Ellacott Morris, a small accounting firm on the sunny coast of Essex, to discuss her experience with Pixie.

When you become a client of Ellacott Morris, of which there are already over 500 happy businesses using our accountancy services, it starts an exciting journey.

So, when stepping aboard Ellacott Morris – here’s what to expect!

As with many of our clients, a business associate recommended Grant at Elementis Boiler Experts to use our accountancy services. Grant was specifically looking for an accountant who used Xero cloud accounting software, having been unimpressed with other packages used by previous accountants that hadn’t met his needs.

At Ellacott Morris, we pride ourselves on doing more than just providing accountancy services… We want to work in partnership with our clients to strengthen and grow their businesses, helping them go beyond their targets and making their lives less stressful.

Chris Pratt, founder and managing director of Frindec Ltd, provides a great example of how working with Ellacott Morris can be a life-changing experience…

As accountants, we hear a lot of frequently asked questions, and this one is possibly in the top ten!

At Ellacott Morris, we prioritise Anti-Money Laundering (AML) compliance to safeguard your financial interests. As licensed AAT accountants, we adhere to UK industry best practices, ensuring our AML responsibilities are at the forefront of our operations.

When directors use company funds, assuming it's their own, it can harm the business. Overdrawn director's loan accounts can lead to serious consequences. Directors must understand that just because the money is in the company's account, it doesn't automatically become their personal funds.

Running a small business can be both exhilarating and challenging. You have many responsibilities as an entrepreneur, and accurate bookkeeping might not be at the top of your priority list. However, it is crucial to recognise that maintaining precise financial records is the backbone of a successful small business.

For business success, keeping your business and personal finances separate is crucial. While it might be tempting to use your business account for personal expenses, it can lead to significant issues. Let's dive into why this separation is vital and the problems arising when the lines are blurred.

At Ellacott Morris, we love making life easier for our clients. That’s why Olivia Adams, one of our incredible accountants, has put together a series of videos demonstrating some of the main functions within Xero and Dext. These videos are handy Xero tutorials, taking you through each process. Follow Olivia’s guidance, and you’ll enjoy even more time-saving and efficiency-improving features from our recommended software.

Running a business means shelling out money before officially diving into VAT registration. These upfront expenses, aka "pre-registration VAT expenses," offer a silver lining – you can get back VAT on certain items by following a few rules.

If you choose to become a sole trader, you are your business. Your business isn’t a separate entity; therefore, any debts related to your business are your debts.

A sole trader arrangement is usually associated with ‘one-man (or woman) bands’ who work independently to offer their products/services.

There are lots of benefits to working in this way… Such as lower accountancy fees, less paperwork and added flexibility, to name but a few.

As expert accountants, we understand the importance of pension contributions and the tax benefits that come with them. We can help you understand the tax relief you're entitled to based on your employment status, whether you're self-employed, the owner of a Limited company, or employed.

Building an office at the bottom of your garden can be an excellent solution if you're looking for a separate workspace. However, before you get started, it's crucial to understand the accounting and tax implications of having a garden office. While you can claim tax relief on furniture and equipment you put inside your office, claiming tax relief on the structure itself requires more work.