When you start out in business everything you do is exciting and new, and the duller aspects such as doing your expenses are even fun.
But what about when the bookkeeping stops being new and exciting and becomes repetitive and mundane?
Little and often
Bookkeeping can be a chore and there’s no getting away from it. You should
Blog
Bookkeeping tips for small businesses
How to maximise the childcare tax break
The tax break for company-paid childcare was scaled back a while ago, but it’s still possible to get a tax and NI exemption on up to £55 per week. How can you achieve this and possibly do better?
Tax break recap
Until 6 April 2011 Companies could give directors and employees tax and NI-free financial support for
Companies face fines if they aren’t ready for RTI
RTI is imminent
RTI is just around the corner. Although some headlines indicate that RTI will apply to all employers from October 2013, those with 250 or fewer employees will be required to operate RTI from the start of the next tax year.
What will RTI change?
RTI is essentially a change in the way that employers
Record checks to be re-launched
HMRC have announced the re-launch of business record checks (BRCs). They have reportedly been improved and are now more focused.
Background – Last year HMRC started a programme of business record checks (BRCs). They aimed to review the bookkeeping of 50,000 businesses, but they encountered problems from the start. This was mainly due to their idea
Why use an accountant?
When you’re starting up a new business an accountant may seem like an added expense that you could do without. You may feel like you don’t need an accountant as after all how hard can it be? Think again – a good accountant isn’t just a number cruncher, it’s someone who understands how to run
Tips on how to choose an accountant
One of the most important decisions you will make as a business owner is choosing an accountant to help you with the financial aspect of your business. Here are a few things to consider when making that all important decision:
Personal Recommendation – Word of mouth is a great place to start, ask any trusted friends or
Tax tips regarding training costs
Training
The treatment of training costs for tax purposes is a “grey area” and each separate case should be assessed on its own merits. However, we have provided some guidance to help you clarify what the situation will be for you and your business if certain types of training are undertaken.
Training costs if self employed
Obtaining
Does a sole trader have to have a separate business bank account?
The simple answer is no. A separate bank account is not needed, and by not using a business bank account the sole trader may be able to save on the bank charges that are usually applied to business accounts.
This follows on from the fact that the business is not legally separate from the self-employed person
Is that VAT number valid?
The use of false or hijacked VAT numbers is on the rise, yet you could be the one left to pick up the pieces with HMRC. How can you check the numbers of new customers and suppliers?
Why should you check?
If you set up a new account, its good practice to check the supplier’s VAT
Top tips for financing your business
Access to finance is vital for all growing businesses. Whether you need to manage cash flow, buy time to make adjustments or fund growth, if your business is seeking finance then it is important that you present yourself, your business and your requirements in the right way. This will help increase your chances of obtaining
