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For a lot of small business owners, bookkeeping is one of those boring chores you’ll do anything to put off until tomorrow. Of course, tomorrow never comes and the task becomes even more unappealing as the days go by. With the introduction of Making Tax Digital (the government’s scheme to move tax filing online, starting with VAT reporting), now […]

Jeremy Hunt announced his first Autumn Statement as Chancellor of the Exchequer to Parliament on 17th November, in a bid to bring economic stability to households, businesses and the financial markets. The Chancellor has pledged to meet the economic challenges facing the country, confirming several changes to fill a £55 billion gap in the UK’s public finances. […]

If you are already self-employed, you will be aware of self-assessments and your self-assessment tax bill. Many find it a stressful part of being self-employed, having to keep on top of incomings and outgoings throughout the year to ensure you submit an accurate assessment. What makes this even more difficult is if you are used […]

Your self-assessment is one of the most important things to take into account when you become self-employed. It’s critical that the return is filled out correctly and submitted on time, as there are penalties otherwise, so you’ll want to get it right the first time around. As contractor accountants with years of experience, we can help. […]

So, you’re thinking of becoming a sole trader? Fantastic. Not only does working this way offer you greater flexibility and the opportunity to take full control of your career. It also happens to be the simplest way to start providing your services as a self-employed person. In this guide, we touch on everything you need to […]

“AT Monday, the Chancellor announced the biggest package of tax cuts in 50 years. Without even a semblance of an effort to make the public finance numbers add up. Instead, the plan seems to be to borrow large sums at increasingly expensive rates, put government debt on an unsustainable rising path, and hope that we […]

Different set-ups require a different way of running things, so the right choice for one business could be completely different to another, even if they offer the same services within the same sector. When you are first starting out in business, many people believe that being a sole trader is the easiest route to take, […]

From 1 November 2022, VAT-registered businesses will have no choice. But to use Making Tax Digital (MTD) compatible software to file their VAT returns, unless they have a digital exclusion exemption. Businesses with a taxable turnover above the VAT registration limit of £85,000 have had to use MTD VAT rules since 2019. It became a […]

Xero as well as QuickBooks Online are two of the most well-known and effective accounting software options for small-scale entrepreneurs. While both are able to aid in managing complex processes such as billing, invoicing, financial reporting as well as tax management, they are more suited to various types of businesses. In this comparison of one-to-one, we’ll […]

Bookkeeping for healthcare and medical practices can be complicated. From working with insurance and third-party billing companies to preparing financial information for your board, bookkeeping for doctors and healthcare practices requires specialized knowledge. Here are some tips that can improve cash flow and provide timely & accurate data. Go paperless The move to paper-free is […]