As an employer, it is your legal responsibility to complete all payroll tasks. Most businesses in the UK process payroll via PAYE, which is the system used by HMRC to calculate National Insurance and income tax deductions from employee wages. Below we answer some common questions...
The UK coronavirus shutdown has hit small businesses hard. But, there are ways to move forward and our latest blog posts discuss the kind of help that can be accessed during this crisis situation. The experts here at SQK Accountancy have been inundated with calls from payroll...
Did you have a Crisis Plan in place, including protocols for financial management in troubled times? The answer for many small businesses is no. Even those who did ‘plan for the worst’ will have been shocked by the massive repercussions of the Covid-19 pandemic. However, if you...
The current coronavirus crisis is hitting everyone in the UK, from employees and freelancers to small businesses and the largest multi-national corporations. While many of us may still struggle if the economy continues on its current downward turn and social distancing measures tighten further, the government...
Accounting is an essential part of any business. Ensuring that your cashflow, expenses, and company capital are all recorded accurately is necessary both for understanding how your business is working, as well as for HMRC and filing your tax return. However, many people who set up...
UK business start-ups can opt for two main types of recording for accounts; accrual or cash accounting. If you're planning to set up a business and are wondering how to record sales, debts, and purchases in your accounts, this short SQL summary offers a brief guide: What...
If you're planning a limited company start-up, it's a good idea to get your accounting function working from the outset. Your limited company will have its own legal status, and that means you'll have a legal obligation to produce annual accounts on a regular basis. Your...
No matter which way you voted in the EU referendum, the UK has now left the European Union. And, many hopeful entrepreneurs are querying just how this will impact their business start-ups. The professionals here at SQK Accountancy handle a variety of sole trader and business...
Business start-ups often consider payroll to be something to worry about later down the line. Payroll management seems like the preserve of large companies with multiple departments - so you, an entrepreneur with a single employee don't have to worry about it, right? Wrong! It makes...
Now that 2020 is well underway, all small businesses in the UK will be looking at how they can grow over the coming year. Many of the decisions here will rest on where any attention should fall within your organisation. As any business owner knows, there...
The complexities of accounting in the modern era make it important for all business owners to recognise the importance of cloud accounting. Many sole traders historically relied on paper accounts, but the introduction of UK government digital legislation means this is increasingly difficult to administer. Ultimately,...
[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text] When setting up your business, choosing how to structure it is key. This can often mean choosing to be registered as a limited company with the UK Government. Many businesses will also choose to or be required to register...