From April 2023 individuals who submit a tax return to declare income outside of employed earnings will have to submit their accounts digitally to HMRC on a quarterly basis. …

Whilst this has been a tough year for many businesses there are some people who decided that this year was as good a time as any to set up a business …

As qualified bookkeepers and not qualified accountants we don't offer accountancy compliance services such as tax returns, partnership or limited company accounts. This is because, whilst we may have covered the foundation of these in our bookkeeping qualifications, we don't have the knowledge or experience to give our clients the advice they need on tax matters.
 
 Of course we know what can be claimed for both VAT and tax purposes but when it comes down to knowing how best to use the tax rules for your personal and business circumstances we leave that to accountants who work with tax matters frequently and for more clients and therefore have the knowledge and experience that we don't. 
 
 Because we choose not to do this work …

Do you keep track of your payments to suppliers and receipts from your customers?
 
 Not all suppliers are efficient in keeping track of the incoming payments from their customers and equally not all customers keep track of how much they have paid their supplier. …

When you start a business one of the things you need to arrange is a bank account to enable you to keep your personal and business spending separate.
 
 If you are starting as a sole trader/self-employed with just a little income initially it is tempting to …