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Welcome to the Ellacott Morris Accountancy Blog – Your Gateway to Financial Clarity!

Discover simplified insights and expert advice on tax, accounting, and financial management. At Ellacott Morris, we're not just number crunchers; we're your partners in prosperity.

Explore articles tailored for businesses and individuals, covering tax-saving tips, accounting essentials, and the latest financial trends. We break down complex topics into straightforward steps, making finance accessible to everyone.

Our friendly team of accountants is here to empower you with the knowledge needed to make informed decisions. Stay ahead in the financial game with Ellacott Morris by your side.

Prosperity begins with understanding. Let's navigate the world of finance together – welcome to the Ellacott Morris Accountancy Blog!

What Does An Accountant Do?

MichelleMorris
Sunday, February 18, 2024

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!

How Much Does an Accountant Charge?

AnjuliSymonds
Sunday, February 18, 2024

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.

Why You Need a Government Gateway Account

OliviaAdams
Friday, January 26, 2024

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

Keeping your Company Healthy

JamesMorris
Thursday, January 25, 2024

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…. 

To Buy or not to Buy

BimalaWyatt
Thursday, January 25, 2024

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… 

Making Tax Digital – Are you Ready?

JordanWyatt
Thursday, January 25, 2024

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). 

Let’s talk Crypto…

KarenRai
Thursday, January 25, 2024

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

IR35 – What’s it all about?

AnjuliSymonds
Thursday, January 25, 2024

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.

Side Hustle - Online Sales

MichelleMorris
Tuesday, January 23, 2024

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 ...

Xero’s New 90 Day Re-Consent Process – Now Live!

BimalaWyatt
Thursday, January 18, 2024

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.  

Expenses Allowable Against Rental Income

JordanWyatt
Thursday, January 18, 2024

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.

Self-employed allowable expenses

AlisonWoodcraft
Thursday, January 18, 2024

If you’re self-employed, you only pay tax on the profit you make, known as taxable profit. Therefore, it’s important to understand which expenses you can claim, ensuring you don’t pay too much or too little tax.  

When can I Claim Food & Drink as a Business Expense?

KarenRai
Thursday, January 18, 2024

Now, here’s a question we get asked A LOT by our self-employed clients… 

Q - When can I claim food and drink as a business expense?  

Let us provide you with the answers – although, sadly it’s not as straight forward as you might have hoped…. 

Important HMRC Dates for your Diary

JasmineCox
Thursday, January 18, 2024

If you’re in the process of populating your new 2023 diary, then here are some crucial dates not to be missed…. 

Letting Out Your Property as a Holiday Home

JamesMorris
Thursday, January 18, 2024

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… 

Managing Multiple Income Streams…

EdwardFisher
Thursday, January 18, 2024

Gone are the days when simply having a job was enough… In our 21st century working world, entrepreneurial-minded professionals no longer want to be limited to just one job or career path, or just one source of income… 

PAYE tax by DD

JaimeBeaver
Thursday, January 18, 2024

Here at Ellacott Morris, we love it when HMRC make things easier! Their recent introduction of a new function that enables businesses to pay PAYE tax by direct debit has done just that.  

What are Payments on Account?

AnjuliSymonds
Thursday, January 18, 2024

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.  

Get ahead of your Self-Assessment Tax Bill

MichelleMorris
Thursday, January 18, 2024

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!  

Group Company Structures

BimalaWyatt
Thursday, January 18, 2024

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.  

 

Super-deduction is coming to an end…

JordanWyatt
Thursday, January 18, 2024

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.

The Best Way to Go Electric

KarenRai
Thursday, January 18, 2024

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.  

Understanding Director Liabilities for Small Businesses in the UK: A Comprehensive Guide

OliviaAdams
Thursday, January 18, 2024

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.  

What does HMRC know about you?

AlisonWoodcraft
Thursday, January 18, 2024

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… 

What is Disaggregation?

JasmineCox
Thursday, January 18, 2024

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.  

When should you Register for VAT?

JaimeBeaver
Thursday, January 18, 2024

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… 

Xero & Dext Demonstration Videos by Olivia

OliviaAdams
Thursday, January 18, 2024

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.

Furnished Holiday Lets (FHL)

BimalaWyatt
Thursday, January 4, 2024

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.

Debtors and Creditors

AnjuliSymonds
Friday, November 17, 2023

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.

A Pixie Success Story

ellacottmorris
Thursday, November 16, 2023

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.