Daniel Scott, Author at Daykin Scott

Daniel Scott

July 29, 2025
Published by Daniel Scott on July 29, 2025
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Understanding Penalties for Late Self-Assessment Submissions and Payments

Self-Assessment tax returns can feel like a chore, but missing the submission or payment deadlines can lead to penalties that could have been easily avoided. To help you stay informed and avoid unnecessary costs, here is a breakdown of the penalties HMRC imposes for late submissions and payments for Self-Assessment.
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January 13, 2025
Published by Daniel Scott on January 13, 2025
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Navigating Rising Business Costs in Sutton Coldfield and the West Midlands: Strategies for SMEs

Small and medium-sized enterprises (SMEs) in Sutton Coldfield and the West Midlands are currently facing significant challenges due to escalating operational costs. Factors such as increased energy prices, higher wages, and supply chain disruptions are exerting pressure on local businesses, leading to concerns about sustainability and profitability.
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December 1, 2024
Published by Daniel Scott on December 1, 2024
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Mastering UK GAAP Compliance: A Guide for SMEs

Compliance with the UK's Generally Accepted Accounting Practice (UK GAAP) is essential for small and medium-sized enterprises (SMEs). Beyond fulfilling legal obligations, adhering to these standards enhances financial transparency, boosts stakeholder confidence, and supports long-term growth. At Daykin Scott Accountants, we specialise in helping SMEs navigate the complexities of UK GAAP. This guide will explore the key requirements, challenges, and how your business can achieve compliance with ease.
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November 26, 2024
Published by Daniel Scott on November 26, 2024
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Companies House Simplifying Reporting Rules: A New Era for UK Small Businesses

At the heart of these changes is a proposal to raise the size threshold for what qualifies as a “small company”. This adjustment means more businesses will soon fall under a less stringent reporting framework.
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October 7, 2024
Published by Daniel Scott on October 7, 2024
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FRS 102 vs FRS 102 1A: Choosing the Right Accounting Standard for Your SME

Daykin Scott Chartered Accountants breaks down the key differences between FRS 102 and FRS 102 1A, helping you make an informed decision that aligns with your business needs.
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