Whatever your business is, there are two things you will do – make money and spend money. A Bookkeeper is the one who helps you keep track of that. Generally speaking most Bookkeepers used dedicated software to keep track of your finances though there is no reason why you should not use a manual system […]
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There are many reasons why an external Bookkeepers are a good investment for many businesses, not least among them is that they are independent. This can help your business move forward as you will have independent, detached advice and guidance about the state of your finances. Detachment Try as they might anyone who works for […]
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There are lots of tax deductible expenses that you can offset against your business turnover as well as the basic cost of sales such as materials, production, staff and marketing. However there are lots of different rules around them. ‘Allowable Expenses’ differ depending on how your business is set up – for example different rules […]
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Why should you hire a bookkeeping service, surely you can do something like that – but is it the best option for you and your business? Using a bookkeeping service allows you to put your time where it is the most valuable whilst still having all the information you need to run your business at […]
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We all do it – put off sending in our Tax Return until the last minute – but is it the good idea we think it is? Nearly 800,000 Self Assessment returns were filed on the last day in 2018, and hundreds of thousands missed the deadline which means substantial fines. The potential for overload […]
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The General Data Protection Regulation (GDPR) comes into effect on 25 May 2018 leaving little time to prepare if you have not already done so. The penalties for non-compliance are crippling so you must ensure you are prepared. A common response when many small business owners are asked about GDPR is ‘It doesn’t apply to […]
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Most people think outsourcing your bookkeeping is not an economic way forward. Keeping a grip on costs is difficult for any business, especially startups where everything seems to cost more than you budget for. Payroll and staff costs are always a major part of those costs and on the surface it often seems cheaper to […]
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The new National Minimum Wage and National Living Wage rates come into effect in April and must be paid to all qualifying staff. You should ensure that your Payroll systems take this into account. The New Rates The new rates are as follows:- 25 and Over – rises from £7.50 to £7.83 21 to 24 […]
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The minimum pension contributions for automatic enrolment pension schemes are due to increase at set times this year and next. All employers are required to make the minimum employer contributions to the workplace pension scheme for all qualifying staff. It is your responsibility as an employer to make sure that the correct increases are put […]
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Payment surcharges are often used by SME’s to offset the costs of payment processing. New amendments to the regulations come into effect on 13 January 2018. There are severe penalties for non-compliance in addition to any civil action that may be taken by the Consumer. Your Bookkeeper should be aware of the new regulations and […]
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