Our Blog

The Abolition of Operating Leases for Lessees: Everything You Need To Know

Financial reporting is set to change in January 2026, which will see a radical update of the Financial Reporting Standard 102 (FRS 102), with one of the most notable shifts being the abolition of the operating lease for lessees.

Smooth Payroll Management: A Guide

Smooth payroll management is the secret ingredient of a small business’s internal happiness and well-being. Any disruption to this can drastically affect employee morale, and may well put a dent in the trust and loyalty your staff has for you. But how does a small business owner achieve this, on top of all of his/her other tasks required to keep the business afloat?

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Frequently asked VAT registration questions and answers

In this blog, we use the term ‘businesses’ often. But the word ‘businesses’ also covers sole traders.

Most businesses know that the threshold for compulsory VAT registration is a taxable annual turnover of £85,000. What this figure is made up of can often cause confusion on when and how a business should register for VAT. With all the advice, it can be difficult to know what to do.

Here, we will summarize obligations for VAT registration with a few answers to the most frequently asked questions by businesses.

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7 Common VAT Errors

As a fully qualified AAT member, I have been working on VAT for more than 20 years. Despite my experience, like others I’m sure, there are still areas where I need to look a little deeper into the rules for some advice.   

In this blog you’ll see me using the word ‘business’. This covers both companies and sole traders. Yes, that’s right, sole traders can also register for VAT! It is a common mistake that sole traders don’t register, and usually happens when they don’t receive the correct advice. 

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Tax Incentives for Electric Vehicles

There’s no denying it – environmentally-friendly electric cars are the future.

And as companies shift their focus towards greener ways of doing business, which includes looking into more eco-friendly ways of staff commuting, we can get acquainted with a number of tax incentives recently made available by the UK government for businesses looking to get in on the action.

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Employing as a Sole Trader

Employing as a sole traderIf you’re a sole trader, and the time has come to take on additional help to manage the workload, you might be wondering if you’re able to take on staff, and if so, how to go about getting a reliable and trustworthy pair of hands-on board....

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The Rise & Rise of Accounting Software Solutions

A combination of the digital age and the pandemic alike has seen a surge in technology-driven solutions for most industries, and the accounting world is no exception. As we slowly inch towards the light at the end of the tunnel and the world begins to open its doors again, will we see a decline in the dependency of computer-based solutions? We think it’s unlikely…

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Our qualified team are committed to ensuring that your business gets the best that it deserves when it comes to finances. Including VAT & Payroll.

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We exist to maximise productivity in your business. To release you from your pain points and give you tools to streamline your finances. We look after the numbers, giving you time to do the rest.

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Mercury Accounting & Finance Services South Wales

1 Wern Road, Garnant, Ammanford, SA18 1LN

hello@mercuryaccounting.co.uk