Hiring a Bookkeeper may seem like an unnecessary expense in the current economic climate but, as is often the case, sometimes it is wiser to spend a little money to make a lot more. Not only does it take a great deal of stress and effort off your shoulders, but it allows you to focus […]
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Accounting dates are not something that should be treated lightly – the penalties for missing deadlines are severe. You need to be aware of them well in advance so that you can be sure of submitting the required information in time. Please note this list is not exhaustive and you should check with your Bookkeeper […]
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Recently there has been a huge increase in Phishing and Scams with criminals pretending to be HMRC. Some are easy to spot but some are very sophisticated, targeting businesses as well as individuals. HMRC has issued some guidance on what to look for and what to do if you think you are being targeted or […]
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Making Tax Digital is a much used phrase if you run any kind of business, self employed or otherwise. It already affects anyone who is VAT registered and will affect almost every business in the UK by the end of 2020. HMRC’s stated ambition is:- “to become one of the most digitally advanced tax administrations […]
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A P11D form is the means by which an employer notifies HMRC of any employment benefits given to employees. It allows employers to detail the cash equivalents of benefits and expenses that they have provided during the tax year to their directors, and employees earning above a fixed rate. The most common benefits include company […]
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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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