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- bravecreative
- 30 May 23
UK Tax Codes: Explained
As a sole trader in the UK, understanding the country’s tax system is essential for running a successful business. As a growing business, sorting and organising tax codes for your employees’ wage slips is no small feat. Through the PAYE (Pay As You Earn) system, businesses handle paying any income tax owed by their employees […]
- bravecreative
- 8 Mar 23
Why Petty Cash is Essential for Managing Small Business Expenses
When it comes to small business and sole trader bookkeeping, budgets can be tight and even small expenses can be a big blow to financial stability. This is why many businesses choose to have a petty cash system in the event of a surprise small expense. But what exactly is petty cash and how do […]
- bravecreative
- 6 Feb 23
How to Prepare for Year-End Accounts
As a sole trader, preparing for year-end accounts and tax filing can be a daunting task. After all, how can you be sure that you have everything you need? However, with the right know-how and appropriate steps taken throughout the year to prepare, it transforms tax filings into a relatively straightforward process. If you’ve started […]
- bravecreative
- 9 Jan 23
What Financial Records Do I Need to Keep as a Business?
As a sole trader business, getting to know the ropes of financial accounting means knowing what to keep and for how long. In the UK, HMRC can request to see any record that you’ve reported to them, and thus you have to be able to provide sufficient evidence of a transaction. Else, there could be […]
- bravecreative
- 26 Sep 22
What Is the Best Pay Frequency For Your Business?
For businesses, payday is one of the most important days of the month. It’s the time when your employees frantically refresh their banking app to check if their wages have gone through, making for a collective feel-good moment across your business. However, different businesses handle payroll with different schedules to benefit their business. They consider […]
- bravecreative
- 15 Aug 22
The Importance of Sustaining Business Credit Control
For sole traders and small businesses, one of the most critical yet asinine tasks they are faced with is collecting unpaid invoices. You may find yourself offering credit to clients to get a sale over the line, but the hassle of chasing up unpaid invoices may leave you considering if all that is worth the […]
- bravecreative
- 1 Jul 22
Why Bookkeeping Is Integral to Your Growing Business
The most gratifying thing as a business owner is seeing your company, your pride and joy, attracting more customers and generating more profit. Perhaps you’ve been in a rut lately or have been keeping stable but with little growth, but that is where a small business accountant near you can help. Look around at financial […]
- Tax Saving Accountants
- 21 Jun 22
The Basics Of UK Corporate Tax
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 […]
- Tax Saving Accountants
- 8 Jun 22
Advantages of a Sole Trader Accountant
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 […]
- Tax Saving Accountants
- 11 Apr 22
A Day In The Life Of A Business Accountant
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 […]