If you’re a new business that is under the VAT threshold, you may be thinking about whether you actually wish to be voluntarily VAT registered. It is a decision that a lot of small businesses face and the decision is, of course, yours. Some companies...
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Getting your payroll right isn’t as easy as it sounds. Many small businesses make regular payroll mistakes that can cause a massive headache. Here are a few of the mistakes we have encountered at SQK Accountancy, and how you can avoid them. Failing to pay...
Cloud Accounting / 23.02.2017
What exactly is cloud accountancy?
Chances are you're well equipped to know what an accountant does. From VAT advice to VAT registration, payroll to end-of-year tax returns, there's a lot that you can gain from hiring an accountant. But when you hear the words 'cloud accountancy', it can feel a...
Making Tax Digital, Small business accounting / 16.02.2017
Quarterly tax accounts will cost small traders £280, say HMRC
HM Revenue and Customs (HMRC) has admitted that the UK’s freelance and self-employed community are likely to have to fork out an extra £280 a year on their tax reporting costs in order to keep up with their impending quarterly digital reporting regime. As part of...
Accounting, Business / 09.02.2017
5 signs it’s time to change your accountant
When it comes to selecting an accountant to take care of your finances, the choice can be a little overwhelming and this can sometimes cause businesses to make the wrong decision. A good accountant should deliver on their promises. They should be able to make...
Self Assessment / 30.01.2017
Everything you need to know about self-assessment late filing penalties
If you've not yet finalised your personal tax affairs for the 2015-16 financial year, time is certainly running out to prepare and submit your tax return to HM Revenue and Customs (HMRC). The deadline for online tax returns to be submitted for the 2015-16 financial year...
Running a small business here in the UK in 2017 is no easy task, though with the right help, it can be both lucrative and exciting. Nonetheless, there is a good reason why so many of these fail in the first year. Here we look...
Payroll / 13.01.2017
Five essential payroll tips
Keeping up to date with your payroll can be extremely stressful and time-consuming. This is particularly true if you handle your payroll in house. Payroll can swiftly become a nightmare for business owners, but by following our essential tips you will quickly bid goodbye to...
According to the Institute of Chartered Accountants in England and Wales (ICAEW), many British businesses could be missing out on huge financial gains because they have either yet to consider exporting abroad, or because the idea of doing so causes concerns. Research recently carried out by...
Accounting, Business / 03.01.2017
3 tips to get your accounts sorted in 2017
An ice cream tub of receipts and a handful of bank statements is every accountant's nightmare. And often a self-assessment form can be every business owner's nightmare. But it doesn't need to be that way - there are some simple strategies that you can put...
There are only a few weeks left for you to file your tax return, or you're in danger of incurring some hefty fines. If you earn an income that doesn't fall under the PAYE system of an employer, you must file your tax return before...
Doing the books is a thorn in the side for most businesses, and whilst many try to do their own to save money, there may well come a time when it’s better to look to an expert for help. Whether you need to seek out...