Payments on account are advance payments towards your tax bill in the UK’s self-assessment system, primarily for self-employed individuals, freelancers, and others with non-PAYE income. Here’s a detailed explanation: What Are Payments on Account? Purpose: These are designed to help spread the cost of your tax bill over the year, rather than paying a large […]

On April 1, 2023, new National Minimum Wage (NMW) and National Living Wage (NLW) rates will come into effect. The NLW, which is the minimum hourly rate that must be paid to those aged 23 or over, will increase to £10.42, representing a 92 pence increase over the current rate. The hourly rate of the […]

As an accountant firm that specialises in accountancy for small business enterprises (SME’s), providing a more comprehensive service that not only ensures that the accounts are taken care of but also enhances the overall back office of the business is key to helping businesses grow. CDC Accounting has collaborations and partnerships that can help businesses […]

In the running of a business, it is important to have a secure, dependable and easily-accessible system in place for the management of your company’s important content – from timed plans and business goals, to cash flow sheets and forecasts. Huddle is a cloud-based online collaboration platform, used by CDC Accounting – both internally and […]

As a business owner, the range of tax payments and information required of you each year can make the tax landscape feel intimidating, with the introduction of new systems like Making Tax Digital in 2019, or a lack of time to ensure money is set aside, to keep track of your tax deadlines, or to […]

It is of the upmost importance that you are diligent when sending or receiving invoices to ensure that the details contained within the invoice are correct.  Failure to do this can and most likely will result in late payments being made to your company, but what is more worrying is that an incorrectly named purchase […]