Blog

Unapproved options sound like a scary prospect! But they don’t need to be. Options are only called ‘unapproved’ because they don’t fit into the EMI (Enterprise Management Incentive) scheme. However they still have their place in high growth companies and can be an effective tool to attract, retain and reward...

Registering for VAT is a rite of passage for any successful start-up. It adds a layer of complexity to your tax arrangements, but also offers some very useful advantages. Barnes & Scott has a huge amount of experience helping start-ups become VAT registered. We usually act as agents for our...

At the Budget in November 2021, the government announced a number of proposed changes to the Research and Development Expenditure Credit (RDEC) and the SME R&D tax relief schemes. The government has said the changes are designed to support modern R&D methods, to refocus its support on R&D activity happening...

At Barnes & Scott, we are no strangers to working remotely. We have always been an office-free business and worked mostly remotely long before the pandemic. During lockdown, my work desk in the dining room has been relocated to  a desk in the corner of a bedroom. I guess you...

2021 is already flying by and festive celebrations are feeling a little more distant every day. As we get settle into a year of new opportunities, it’s time to ask the question: Did you set any resolutions and have you kept up with them? In 2018, fitness app, Strava, conducted...

The time and effort that it takes to find and hire employees can be significant for high growth technology businesses. However, holding onto workers is even harder. The job for life no longer exists, and increasingly the millennial workforce seeks to move around in their career or in many instances...

Business fraud is real, common and becoming increasingly less obvious to spot. Below is an example of a fraudulent invoice I received a few years ago when I first started out in business. I did not make the payment as I quickly realised that the invoice was fake. Red flags...

Taking on your first employee can be daunting, but is a task that must be overcome for businesses that have the ambition to grow. Hiring employees will allow you to be able to focus on what you are best at, as opposed to being a generalist covering all areas of...

Research & Development (R&D) tax credits were first introduced in the UK in 2000 (for SMEs) and in 2002 for larger companies. The scheme is hugely popular (recent stats reveal that HMRC currently pays out £1.8bn of R&D tax credits to SMEs annually), due to being a generous and effective...

Video Games Tax Relief (VGTR) was introduced by the government in 2014, in recognition of the value it creates to the economy.  Data from HMRC released in 2018 shows that the scheme has paid out £230 million to claimants to date. The sector is worth around £3 bn to the economy...

Back in 1983, the iconic Harvard Business Review published the five developmental stages that still apply to start-ups over 35 years later. Whether your company is launching a new app with minimal staff and infrastructure to consider, or a day-care nursery with over ten employees in a sprawling building, these...

This is a question I have been getting a lot from clients recently so I thought it would be worth looking at this in detail and mapping out some figures. The answer (as you would typically expect to receive from an accountant) is… MAYBE. Read below to find out more: