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As a business owner, you cannot deny the importance of bookkeeping and accounting. It is your legal obligation. It is something that needs to be done within your company or outsourced to a reliable accounting firm. There are also other types of accounting. Some are designed to meet your legal obligations while others are designed…Read More
We live in a modern world filled with constant advances in technology. What used to be done manually can now be efficiently carried out online: many individuals and businesses prefer banking, bills payment and negotiating deals with customers or suppliers using the internet. This is a benefit of digitalisation and many people have come to…Read More
For most of us, bookkeeping is something that we do not want to pay attention to until the due date is near. Delaying this important task can lead to severe ramifications. If you are an entrepreneur, you need to track your income and expenses. This is the very reason why you need to pay attention…Read More
We are all required to pay taxes. It is part of our obligations as a citizen of the UK. Since 2019, paying taxes and filing VAT return has gone digital. It is a compulsory system initiated by our government requiring VAT payments to be made online. This is beneficial for individuals and companies who outsource…Read More
There are the things that you want to buy, and the things that you need to buy – the key is getting the right balance. Many of us in the UK aren’t great at spending wisely and end up struggling with money as a result. Here are some tips on how you can improve your…Read More
I hope you are all continuing to stay safe. Over the last week, daily updates have been announced and details regarding the various strategies implemented by the government to help businesses and individuals impacted by the Coronavirus financially. It has been difficult knowing just when to provide our clients with an update as things have…Read More
With the UK’s pre-Brexit transition period due to end on the 1st January 2021, many Brits are wondering how our exit from the EU will affect their finances. With so many variables, it’s impossible to say for sure what effect Brexit will have on our pockets, but we can make some educated guesses. Here are…Read More
Technology is constantly developing. Every problem you’ve ever encountered has almost certainly now got a computer-based solution. And leading the technological charge is the rise of cloud-based services. Photos, videos, music files, data, and documents can all be stored virtually, somewhere in ‘the cloud’. But how does cloud software deal with sensitive data? Should you…Read More
An accountant deals with the many financial aspects of an organisation. As there are different types of accountancy, the specific activities can vary according to each specialism. However, accounting generally covers the following primary roles. Preparing accounts An accountant uses a wide range of data to analyse and provide accurate accounting records of a business.…Read More
At first glance, bookkeeping and accounting seem to be more or less the same thing. Most of us would probably struggle to explain the difference if we were put on the spot. This is a big mistake though. The two jobs differ in a number of ways and each has its own important role to…Read More
When you are thinking about selling your business, the most important question and often the most overwhelming question is – how much is my business worth? Calculating a business’s value isn’t as simple as using a universal formula that reveals a precise value, and often the seller will want a higher price, while buyers want…Read More
PAYE can be a complicated and time-consuming process which often binds employers up in red tape. It is not only about the calculation of tax due, which is often managed through a payroll system, employers also have to be ready to implement any changes that HMRC deems fit, make payments of any tax deducted to…Read More
At some point in our lives, most people require the guidance of someone in financial services. Whether to arrange a mortgage, pension, to make investments in property or shares or navigating the HMRC self-assessment for small businesses. Of course, everything can be organised independently but with the aid of a third-party accounting service, you will…Read More
Tax is a part of life, like the weather, wasps and the common cold. We don’t necessarily like it but we have to pay it. As an employee in a company, tax payment is automatically deducted from your monthly salary. However, as a business owner it is necessary to complete a self-assessment form, and then…Read More
If you want to maximise your company’s chance of success, you should have a concrete plan in order to sustain the future of your business. Formalising your strategic plan for growth will enable you to achieve your long-term goals. Here are a few reasons to encourage you to do just that. Provide direction Without direction,…Read More