The ever changing world we live in brings a new set of challenges to all industries, with accountancy being no different. So what are the main focus points accountants and businesses must embrace to remain competitive? Cloud adoption The ability to access data anytime, anywhere and...
The life of a small business owner is largely centred around balancing the books and ensuring the company can survive another year. To remain on a sound financial footing, seeking advice and support from professionals is essential; but what exactly should you ask an accountant...
The stereotype of accountants being number-loving, grey jacket-wearing, soft-spoken middle-aged men is fading fast. The sector is changing by moving with the times, and the next generation of accountants will be required to have a wider range of skills and abilities. In the past, accountancy has...
When starting a new business, hiring the right staff for your accounting and payroll department can be a difficult and daunting prospect, especially if you aren't from a financial background yourself. How do you know where to begin? How do you know whether candidates have...
Most small business owners tend to get stressed at the prospect of an inspection from Her Majesty’s Revenue & Customs. At best, it can be an inconvenience which takes up time when you could be otherwise getting on with day-to-day business, and at worst it...
As your business grows, you must remember to register for VAT. Does your company need to do it, if so, when, and what else do you need to know about it? Here are the basics. Does your company need to register for VAT? Some companies have to...
You've just started a new business, and you've already conquered some of the more difficult problems that come with getting established. Yet now that you're ready to begin trading, you need to consider a long term approach to your accounting and staff payroll. Maybe you've...
As the owner of a small business, there will always be some administrative work waiting on your desk, whether it’s running the monthly payroll or dealing with the end of year accounts, and often these can be left until the last minute. Rather than trying...
From the 1st April 2016 and during 2017, there are some new changes coming into effect which will impact people buying Buy to Let properties. The new rules cover stamp duty, mortgage relief, wear and tear costs and safety rules. Here the changes are explained,...
Have you submitted your VAT Return to the HMRC and just realised you made a mistake? How can you tell HRMC about it, when, and how can you make adjustment to your accounts and, of course, your return? All that and more will be discussed...
Paper Sometimes using loads of paper can’t be helped, but if you do use paper then make sure you use both sides. If you can’t then cut up any spare pieces and use them for taking notes. You can bundle some up and staple them together....
If you missed the deadline for filling a paper tax, which is 31 October, or online self-assessment submissions (SA100 or SA200), which is 31 January, there is not much you can do. However, know that the more you delay, the more fine you’ll have to...
