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It can be daunting having to file a First self assessment tax return for the first time. Read our guide to when you need to do it, the advantages of using an accountant and why submitting your tax return early is beneficial. You must submit a self-assessment tax return if you are self-employed as a […]

Bookkeeping is an essential part of managing a business’s financial health, but it might seem confusing at first. Our guide explains the accounts jargon that might trip you up, and includes advice on how to get your bookkeeping right. What is bookkeeping? The process of bookkeeping involves recording all daily transactions that take place within […]

What is self-employed accounting software? If you’re self-employed, you’ll need to make sure you’re keeping records of all of your income and expenditure in order to submit accurate tax returns. Self-employed accounting software helps you do this by providing an online platform to record and store all your digital paperwork. You’ll be able to explain […]

Small businesses play a major role in driving economic advancement and innovation within the business environment of the UK. They are the backbone of our economy and contribute significantly in terms of job creation, and innovation, adding to the country’s national income, and its export and import balance. Furthermore, small businesses not only augment economic […]

With what could be the final budget before the general election, Chancellor of the Exchequer Jeremy Hunt today delivered his Spring Budget to. The House of Commons to announce the Government’s tax and spending plans. After lots of speculation over the last few days around tax cuts ahead of the forthcoming election. Reports suggested that […]

VAT can be confusing for those who are self-employed, and it is understandable that they may overlook the issue. When you start your own business, you’ll be focused on getting established and growing the business. You will probably be below the £85,000 threshold for VAT registration when it becomes mandatory. You could of course register voluntarily […]

There are plenty of factors to take into account if you want to become a successful buy-to-let landlord, but one that often gets overlooked is tax efficiency. Putting a few tax saving strategies for landlords in place may not be quite as glamorous as hunting down the perfect property, but when it comes to saving […]

Running a successful sole trader business requires a lot of dedication and hard work. As a sole trader, you are responsible for all aspects of your business, including bookkeeping. While it may seem overwhelming, bookkeeping is an essential part of managing your business finances and ensuring compliance with tax laws. In this guide, we will […]

What’s the reason for Tax Digital? Making Tax Digital (MTD) is designed to make it simpler as well as more effective for companies as well as individuals to track and report the tax they owe to HMRC. In the new regulations, HMRC legally requires businesses that are eligible to keep records of transactions electronically and […]

There’s a lot to juggle as a sole trader in the UK, and a solid accounting foundation is just as important for sole traders as it is for larger businesses. As a sole trader, you need not only to  provide services in your area of expertise, but also to handle marketing and manage your own financial accounts […]