You’re a busy business owner, you’re spinning loads of plates and doing everything in your business, including your bookkeeping and staying on top of your accounts and financial information. Do you ever stop and evaluate the impact managing your own bookkeeping and...

The dictionary definition of a false economy is: An action that saves money at the beginning but, over a longer period of time, results in more money being wasted than being saved. So, why is doing your own bookkeeping and, thus, saving money by not paying someone...

2020/21 has been an unprecedented year of turbulence, between the pandemic and Brexit there have been lots of ups and, more so, downs. In the wake of the government’s roadmap out of lockdown and restrictions last week, this week the 2021 Budget has been...

Whether you’re a sole trader or limited company, electrician or web designer, there is one thing true for all businesses…you’re going to pay tax. At some point, in some way, you and/or your business is going to have to pay tax to HMRC.  For limited companies it’s...

This article doesn’t need much introduction, does it?  Who doesn’t want to improve the finances of their business? If you’re in business, regardless of your personal and business goals, you want to succeed.  Well, your finances have a lot to do with the success of...

About VAT Value added tax – VAT.  The majority of things we purchase have VAT on them and, if you’re in business, charging, recording and paying VAT is something you’ll need to do. The current standard VAT rate in the UK is 20%, which is applicable to most goods and...

We’re 8 days into the new year, and quite a lot has happened already!  Here’s some interesting, and important, things you may want to know this week. New Government Support As we enter lockdown 3 Rishi Sunak, again, announced a new support package for businesses...

Coronavirus Job Retention Scheme (CRJS) In our last update we detailed the changes and extension of the CJRS – here’s a quick overview to recap: From 1st July flexible furlough is in place; employees can work hours at full pay, and still be furloughed for hours they...

Big company accounting for small businesses is a term we at Elite Accounting sometimes use when describing ourselves – this is what we provide. But, what the heck does that actually mean? Well, here are some practices medium, large and corporate companies do from an...