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So, you’re starting out as a sole trader. Exciting times. There’s a lot to think about when you go it alone and set up your own business, but among your top priorities should be bookkeeping. Why? Well, bookkeeping is an essential part of running a business. In a nutshell, it involves recording financial transactions that […]
Your accountant plays an instrumental role in your business. From providing financial projections to handling your tax returns on time, an accountant can have a dramatic effect on the day-to-day running of your business – and its future growth prospects. Pick the right accountant and you’ll be setting yourself up for success. Pick the wrong […]
Setting up a small business can be a tremendously rewarding and satisfying experience, but it isn’t without its challenges. As a business owner, you’ll have to wear all kinds of different hats: not only will you be the company’s director, but you’ll also have to deal with things like statutory accounts. Completed annually, statutory accounts […]
There are a number of key milestones that every successful business will experience. Making the first sale, for instance. Securing a lucrative contract with an established business. Making a profit for the first time. And, of course, hiring the first member of staff. Building a team is undoubtedly one of the most exciting and rewarding […]
Going self-employed is a major milestone in anyone’s career, and there’s a whole lot to think about before you make the leap. Aside from setting up and running the business itself, you’ll have an array of other responsibilities to consider… responsibilities like paying your taxes on time. Whether you plan to hire an accountant or […]
In the dynamic world of business, one often overlooked aspect is the art of receipt retention. For the self-employed, sole traders, and finance managers alike, maintaining a well-organised record of business receipts is not just a matter of compliance, but a key ingredient for financial success. In this guide, we’ll explore the optimal duration for […]
When managing your own business in the UK, one of the biggest but most essential bugbears is corporate tax. In the UK, corporate tax is kept track of and sent to Her Majesty’s Revenue & Customs (HMRC, formerly Inland Revenue), and taxes businesses based on their earnings throughout the year. It’s similar to income tax […]
If you’re thinking of starting your own sole trader business, it can be daunting to set it up in a way that will deliver the best results to you. However, there are solutions for you that will take a huge amount of workload away from managing finances, paperwork and sole trader bookkeeping associated with running […]
Whether you’re looking to join the world of accounting or you’re looking for a new accountant to help you with your business finances, it is certainly worth knowing what happens in the life of an accountant before you make your decision. Many assume that the day of a business accountant is sitting at a desk […]
Put simply, Payroll outsourcing is the act of transferring, subcontracting or outsourcing your payroll processing to another company or accountant. Payroll outsourcing is for businesses that don’t have the time or resources to take on the daunting responsibility and hairy hassle of processing payroll in-house. Outsourcing of payroll gives businesses an opportunity to not only […]