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accountancy jargon

The ultimate accountancy jargon buster: part 1

Not sure of the difference between amortisation and depreciation? Get confused by capital expenditure and capital gain? You’re not the only one! And while we really do believe in providing jargon-free accountancy services, sadly accountancy is littered with a host of terminology which, as much as we try, we can’t

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The Christmas jokes you didn’t know you needed

It’s that time of year again when we share some accountancy jokes with you, just to prove accountants really aren’t that boring. And while these won’t win any awards at the Edinburgh Festival Fringe, hopefully, they will make smirk a little. What’s an accountant’s favourite place in New York? Times

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business loans

The ins and outs of business loans

The last few years have been difficult for many businesses, and with recent news that 2023 is on track to see the highest numbers of companies going bust since 2009, it’s not surprising many businesses are looking for ways in which to stop themselves joining that sad statistic. One of

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Charitable donation

The best ways of making Charitable Donations

Many businesses want to give something back through charitable donations, but it can be tricky to know the best way to do it. After all, isn’t it just easier to make individual contributions through the Gift Aid scheme and have done with it? Not necessarily. In fact, if you do

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petty cash fund

Everything you need to know about petty cash

“Take it from the petty cash”. Admittedly, with credit cards now increasingly being used for smaller payments, this refrain isn’t quite as prevalent as it used to be, but that doesn’t mean petty cash funds have become extinct, far from it. Many businesses have one simply because it provides a

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Tax year changes

Key changes for the new tax year 2023/2024

A new tax year inevitably brings with it a number of changes to tax rules and regulations which could have an impact on your business as well as your personal finances. It can be a bit confusing keeping up to date with everything that’s going on, especially when you’re busy

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The woman behind Chimes Accountancy

Coronavirus has been a strange and stressful time for all of us, but one thing that it has done is bring us altogether. From the amazing work by NHS staff to taking part in the Thursday clap for carers with neighbours we barely ever see, it’s shown once again that

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Why you should use online accounting software

Over the last 6 years there has been a technological revolution in online accounting software. As an accountant, we need access to your bookkeeping information so that we can prepare limited company accounts or personal tax returns. Before online accounting software we would have to wait for a backup of

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What you need to know about self-assessment

Christmas is over for another year which means only one thing – the self-assessment deadline is upon us! Yes, if you haven’t already filed your self-assessment tax return for the year 2017/2018, then you only have until 31st January to both file it and pay what you owe. But don’t

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Tax planning before it’s too late

The tax return silly season has just finished and for some of us it was hell; however, it’s not too late to start tax planning for the end of the tax year which is still a month and a half away. There are certain things that anyone can do to

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Should I be VAT registered?

I am often asked what the advantages and disadvantages are of voluntarily registering for VAT. Whether you are a sole trader, partnership or limited company, you can voluntarily register for VAT as long as you make relevant taxable sales and have an income which is less than the VAT threshold

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Limited Company expenses – what can you claim?

Do you run a limited company? Have you ever wondered if you are claiming all the relevant expenses for your business without incurring any taxable benefits for yourself as director and/or your staff? Here are some of the lesser known limited company expenses that you could be claiming: Christmas parties

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Thinking of changing accountant?

Whether you’re a sole trader or are running a limited company, you should be asking yourself the following questions about your accountant on a regular basis: Are you happy with them? Do you feel like you are getting value for money? Do you feel you are always getting unexpected bills?

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Choosing the right business structure

When you decide to set up a business, one of your first decisions should be selecting a business structure that is right for you. Getting it right from the outset is a lot easier than changing your mind 6 months down the line. Getting it right from the outset is

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5 top tips for organising your paperwork

Fed up with looking at this every month?   Want to be more like this?   Here are our 5 top tips to help you get super-organised. 1. Each week set aside a couple of hours for paperwork – this could be for raising sales invoices, filing receipts or sending

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Chimes Accountancy Services

Please get in touch to discuss your accountancy needs 01494 439013