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Accounting & Compliance

Friend & Grant Chartered Accountants have been helping small and medium sized businesses in the Medway towns and North Kent for over 20 years

12th June 2019
builders

Important VAT Changes to the Construction Industry - Do Not Ignore!

In the Government’s ongoing campaign to eliminate the effects of fraud, HMRC are bringing in new legislation from 1 October 2019 that will significantly affect the construction industry. This new legislation is the “Construction Reverse Charge”. The changes are major and if you provide labour in the construction industry then you will be impacted!

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13th May 2019

The Importance of Good Corporate Governance

Good corporate governance is as crucial for SME’s as it is for large listed companies.Corporate governance refers to a set of internal policies, rules, and procedures that a company follows on a regular basis to make sure it operates in a fair, equitable, and appropriate manner.

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26th April 2019
building construction

One Minute Guide to R&D

Businesses are missing out on a huge tax windfall if they conduct Research & Development and don’t claim the additional tax relief – over 250,000 successful claims have been made to HMRC

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5th April 2019
Winstone Churchil - Fewer words better communication

Use Fewer Words for Clearer Communication

We waste so much time writing & reading long expansive sentences when a bullet point would be just as effective! Here is Winston Churchill’s memo to the War Cabinet about brevity.

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25th March 2019
Making Tax Digital - Cloud Accounting - Accountancy Firm Kent - Friend and Grant - Blog Image

Making Tax Digital – 1 week to go!

With less than a week to go until the 1 April 2019 Making Tax Digital (MTD) deadline we have written an update on what you need to know, now.

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5th March 2019
Startup Guide to VAT Registration

Startups VAT Registration Get it Right!

For all startups knowing when to register for VAT is fundamental. Get it right and you could save £’000s in tax, get it wrong and there could be penalties and additional costs. The rules are fairly straightforward but unfortunately many businesses still fail to register on time.

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26th February 2019
Tax saving calculations for company directors

5 Easy Tax Wins For Company Directors Looking To Grow Their Businesses and Save Tax!

As a company director are you looking to build a strong working relationship with a trusted advisor who will help you save tax and grow your business. If you are then why not speak to us about 5 easy tax wins which we can implement with you.

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14th February 2019
Making Tax Digital - Cloud Accounting - Accountancy Firm Kent - Friend and Grant - Blog Image

Making Tax Digital – Two months to go!

In a little under two months, the majority of VAT registered businesses with turnover exceeding the £85,000 threshold will be required to file VAT returns digitally.

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17th January 2019
Xero Gold Partner logo - Friend & Grant Achieves Gold Partner Status With Xero Cloud Accounting

Friend & Grant Achieves Gold in Cloud-Based Accounting

Friend & Grant are delighted to achieve Gold Champion Partner status with Xero, the global leader in cloud accounting software. With intuitive real-time, integrated software, more and more of the firm’s clients have been taking advantage of the flexibility and benefits that cloud accounting has to offer.

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16th January 2019
Making Tax Digital - Cloud Accounting - Accountancy Firm Kent - Friend and Grant - Blog Image

Making Tax Digital – Are You Ready?

From April this year, for the 2.55 million VAT registered businesses with a turnover exceeding the £85,000 VAT threshold, it will be mandatory to file VAT returns through Making Tax Digital compliant software and not via the current HMRC portal.

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13th January 2019
How Strong is Your Balance Sheet - Tax and Accounting Compliance Services - Friend and Grant

How Strong Is Your Balance Sheet?

Your balance sheet is important and shouldn’t be ignored. It’s visible to everyone if you’re a company so people can assess whether to do business with you or for a potential buyer to value the business.

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4th January 2019
Does Every Client Deserve Credit Terms? - Accounting Advice - Leading Kent Chartered Accountants - Friend and Grant

Does Every Client Deserve Credit terms?

Most business failures could be avoided with a little care and attention. No one has the right to credit so don’t give it away unless clients have earned it. Read our tips and make sure your cash flow and your business doesn’t suffer.

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7th November 2018
Budget Report 2018 - Friend and Grant - Financial and Tax Advisors Kent - Friend and Grant

Budget Report 2018

This is our special budget report following the Chancellor’s Autumn Budget announcements. As previously announced, these were the main themes of the Chancellor Phillip Hammond’s third budget but what we were waiting to hear was where the extra money was going to come from? Had he found a “Magic Money Tree”, or would tax and...

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23rd October 2018
Beef burger in a roll

Is My Big Mac Tax Deductible?

Subsistence is a big problem area in tax. Many clients incorrectly assume that if you are working and buy a lunch or grab a snack when re-fuelling the car or van that this is fine to claim against your tax bill.

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23rd October 2018
Horse Racing

Don't Let the Taxman Ruin Your Day Out!

Entertaining clients is a legitimate business expense and can be paid out of the business account. But, you will not be able to claim tax relief for the amounts spent nor can you claim back any VAT paid. But, if there is a sponsorship element to the expenditure then the position may be more favourable.

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23rd October 2018
Classic Car

Fancy a Classic Car as Your Company Car?

Will your next company car be a classic? How would you like to drive an MGB GT or a Triumph Spitfire? This is a serious question for car enthusiasts and one several of our clients have said a big YES to! Surprisingly, classic cars can be quite tax efficient if you pick the right one....

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23rd October 2018
workplace training in the classroom

Is Training Tax Deductible?

This question is asked a lot and it is usually along the lines of…. “I would like to learn about X and there is a great course. Could I put it through my business?” Most business owners think that training costs aimed at improving skills or business profits automatically qualify for tax relief, but that’s not...

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23rd October 2018
Basket of Flowers, Wine & chocolates

Maximise Tax Free Trivial Benefits

Tax Free Trivial Benefits – Make Sure You Make the Most of This Opportunity First announced in the spring 2015 budget, new legislation clarifying the tax treatment of trivial benefits came into force from 6th April 2016. But is this an easy opportunity to extract benefits tax free from your company? The simple answer is yes!...

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9th October 2018

Making Tax Digital - 5 Things To Do To Be Compliant

Despite there being no public news announcements from HMRC, like the TV advert about Auto-Enrolment with the 10ft furry monster, Making Tax Digital (MTD) for VAT is still going ahead from 1 April 2019. MTD for VAT will affect almost all VAT registered businesses in some way, meaning there could be more work to do...

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Are you hungry for success? If you run a small to medium size business and you want to grow your sales, increase profitability and pay less tax then you have come to the right place.