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Do I Need An Accountant (2024 Update)
Legally small businesses don’t need to have an accountant. As long as you file your statutory accounts with Companies House, and corporation tax return with HMRC, if you operate as a limited company, or file your self assessment with HMRC if you operate as a sole...
How to Choose the Right Accountant for Your Business
The finances of any small business are often an afterthought to the wider business activities – such as the actual operations, the ‘thing’ you do. However, the finances of any business make or break it. How do you know whether you have the right accountant for you...
2024/25 Tax Year Calendar
Here are the key tax dates and deadlines for 2024/25 tax year. Make payment on the previous working day where the due date falls on a weekend/bank holiday. Every month 19th Submit CIS contractors’ monthly return. 22nd PAYE/NICs/CIS deductions paid electronically...
8 Benefits of Cloud Accounting
Cloud accounting software is software accessible via the web, that supports businesses with the accounting function of their business. It covers everything from bookkeeping to management accounts and all the way to the statutory accounts and tax returns. Cloud...
How to Avoid the 8 Common Financial Mistakes made by Small Businesses
Common Mistake 1 – Not separating business and personal finances It’s true that, for most small businesses, there aren’t many degrees of separation between your personal finances, and the business. However, by not clearly separating the business’s finances from your...
Understand VAT: A Guide for UK Businesses
If you operate a business, chances are you’re going to come across VAT at some point. This article discusses all things VAT, to cut through the noise and help to make it make more sense. The VAT legislation is incredibly complex, but here we’re going to cover the...
Tax Deductible Business Expenses
What is a business expense? There are a lot of costs involved with running a business, from advertising to raw materials, stock and professional fees – a whole plethora. It’s important to know what you can claim as a tax deductible expense in your business, so you...
Spring Budget 2024 – Highlights
The Spring Budget was announced on 6th March 2024. Here’s some highlights that we think are pertinent to business, individuals and, most importantly, our clients. For Businesses VAT The VAT registration threshold is changing. This threshold is the amount of vatable...
The Importance of Good Accounting Data
Good quality, clean accounting data is the most important data in your business. What you put into your accounting system will determine what comes out of your accounting system. And if you put crap in, you’ll get crap out. By getting ‘crap’ out, we mean the...
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