The ultimate accountancy jargon buster: part 3
Welcome to the last part of our ultimate accountancy jargon buster, where you’ll gain a deeper understanding of some of the common accountancy terms you’ll potentially come across while running your business. In this final part, we’ll be getting to grips with the difference between tax avoidance and tax evasion (an important distinction!) and finding […]
The ultimate accountancy jargon buster: part 2
Welcome back to our ultimate accountancy buster. Now, you confidently know the difference between amortisation and accruals (if you’re still unsure, check out part 1!), we continue our look at some of the common accountancy terms you’ll potentially come across while running your business. Liabilities How much money your company owes, such as short-term debts […]
How to deal with the biggest bugbear of small businesses – late payments
Frustrating, annoying, inconsiderate. It’s hard enough to run a business without the added pressure of clients who always pay late, or even worse, don’t pay at all. Not only can it take up an inordinate amount of your time chasing them for payment, but it can also have a devastating impact on your cashflow. And […]
7 surprising tax-deductible purchases you may not know about
Anyone who runs a business will be keen to make sure their Corporation Tax bill is as small as possible, which is where tax-deductible purchases come in. Basically, they are purchases you make on behalf of your business on which you can claim tax relief. According to HMRC this covers anything which is used ‘wholly […]
Confused about VAT? Here’s everything you need to know
VAT. A tax that fills many people with an awful feeling of dread! But if you’re self-employed or run a limited company or partnership it’s something you should really have more than a passing knowledge about. After all, you need to know whether your business should register for VAT, what you need to do if […]
Key accountancy deadlines and dates for small businesses in 2024
If you’re anything like us, then you probably think New Year’s Resolutions are a bit old hat, but we can think of one that could be great for your business – make sure you know and keep on top of all the key accountancy deadlines and dates. Not only will it help you be super-organised, […]
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 the most common options is […]
7 easy ways to cut business costs during the cost of living crisis
With soaring interest rates and rising inflation, the last year has been tricky for all of us and none more so than for those running a business with many smaller businesses folding due to higher costs. But while the cost of living crisis is a concern for businesses of all sizes, there are some easy […]
7 reasons why having a separate business bank account is essential
One of the worst things about setting up a new business is all the decisions you have to make. Should you set up as a limited company or a sole trader? What should you be charging? Do you need an accountant? (YES!) But one question people often forget to ask themselves is whether they need […]
We don’t just file tax returns! 7 things a good accountant will do for you and your business
Most people think that accountants just sit around all day waiting in fervent anticipation for the next VAT form to land on their desk, but that just isn’t the case. Of course, a large part of our job is completing and submitting tax forms, but that’s not all we do. In fact, we’d be tempted […]