When starting your new business, there are a million things to think about: your name, your business plan, your staff, your targets and your branding. Financials can seem like a huge challenge to any entrepreneur, and often get forgotten about until the letter from HMRC...
Let’s be honest – not many people in business like accounting. Accounting is necessary, however, and, when done right, can make your business stronger, more profitable, and agiler. As a starting point, you should follow these five essential rules of good accounting in your business. 1....
Cashflow is a major issue in business. Even six and seven figure businesses can run into trouble if their cashflow isn't managed properly. At first blush, VAT seems to be the enemy, but if you work it right you can actually improve your cashflow through...
The referendum vote in favour of leaving the European Union has left a lot of people wondering what will happen in different areas of business, tax and finance. As VAT is an EU centralised tax, this has left many businesses feeling the need for professional...
The faces in the Government might have changed but Making Tax Digital, one of former Chancellor George Osborne’s flagship policies, shows no signs of being derailed. It’s been described as the biggest shake-up in tax reporting since online tax returns were first introduced, but what...
Yes, you need an accountant for tax planning and administration - but your chosen firm can also save your business valuable money and time. Let's take a closer look: 1. Getting it right from the start A good accountant won't just deliver tax planning and administration services...
The traditional perception of an accountant is that they work with companies and individuals to ensure tax returns are filed on time and accurately. Perhaps, if you’ve watched too many films, you may also regard accountants as people that have eternally growing piles of unordered...
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 during...
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 the...
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...