Not all bookkeepers and accountants are good at their job. Each has a different sets of skills. Bookkeepers do the day to day record keeping for your business, whilst accountants are better qualified to look at the overall picture of the business and advise on tax savings and planning. …
There is more to being in business than having a 9 to 5 job. Being your own boss seems idyllic when you are employed, have regular hours and a regular income. Being able to work as and when you want, where you want and how you want is the flexibility you crave when you are employed. Being able to be choosy about the people you work with and the work you do is an exciting prospect. …
Making Tax Digital for Business, now known as MTDfB, will begin in April 2019 but that doesn't mean you can forget it until then. Now is the time to start thinking about what you need to do in your business to meet the new reporting requirements. MTDfB starts with businesses which are …
The recent demise of Carillion and the possibility of Toys R Us going in to administration because they can't pay their £15m VAT bill highlights how large as well as small companies struggle with cash flow. All businesses rely on their customers to pay them for the work they have done so that they can pay their suppliers and their taxes. A sale is not a sale until it is paid for but unfortunately businesses are liable for their taxes whether they have been paid by their customer or not. …
I have been asked several times recently how much to pay someone both in terms of a new employee and as a pay rise. There are really 3 things to consider when you are deciding what to pay: …
