Entrepreneurs are, by their very nature, interested in doing things differently. They want to embrace change and commit to tasks that go against the status quo. However, while this is a common approach for entrepreneurs and those looking to develop and build small businesses, it is...
Any small business or startup tends to rely on a few key employees or even just the business owner for most administrative functions. However, it's not always feasible for the business owner or key administrator to run a payroll effectively. This is even more critical...
If you're planning a startup or already running a small business, VAT and registering for VAT will be a major consideration. This is particularly the case if you're close to reaching the VAT threshold or know your startup will go over this limit in the...
As a startup, you're likely watching the pennies very closely. Startups generally want to keep as many essential business processes "in-house" as possible, because it cuts costs. While it can technically be cheaper, does that actually mean it's what's best for your business? The answer...
If your annual turnover exceeds £85,000, then you must register to pay VAT. However, VAT can be somewhat confusing for many small businesses. In order to avoid any penalties down the line, it's important to make sure you're following the rules on VAT. Here are...
UK startups across all business sectors face legal responsibilities to pay employees appropriately. Some factors to consider include ensuring payment of the national minimum wage at the very least and ensuring all essential deductions from salaries. Essential deductions include any necessary repayments of student loans...
Any existing VAT-registered business or UK startup planning to register for VAT needs to be fully aware of the new Making Tax Digital requirements and what this means for their business. 1 April 2019 was the deadline for digital VAT returns compliance. Although HMRC has indicated...
Running a payroll for any size of business can be a complex matter and government requirements for Real Time Information (RTI) can make this more difficult. Use of RTI means employers - including start-ups - need to report all gross pay, National Insurance (NI), tax...
When launching a business, it's inevitable that money will have to be spent. The key to success is understanding exactly what costs are necessary, and what you will get for your money. Most businesses will need to: acquire or rent office space; purchase day-to-day necessities and...
SQK Accountancy offers a variety of professional accounting services for startups, including VAT and PAYE. When is the right time to register for VAT is one of the most common client queries we address as a small business accountant in Manchester. This is why we've put...
When you're a small business or startup, it's tempting to look for ways to save money at every opportunity. One question that business owners or self-employed professionals often ask themselves is "do I really need to hire an accountant?" With SaaS accounting software so freely available online,...
One of the questions we get asked regularly is if you should register for VAT or not. Hopefully, with this blog, we’ll try and answer all the questions you may have. There are some considerations, but it’s not all bad! When should I register for...