One of the most important decisions you will make as a business owner is choosing an accountant to help you with your business.
Accounting is such a broad subject it can feel like a minefield you need to cross to take control of your business.
The first results of the 'Test and Learn' phase of the Business Records Check (BRC) that HMRC recently commenced have started to come through.
Download our free cashflow forecast template together with the instructions required to help you create and update an accurate guide to your business finances.
HMRC have a penalty regime for Tax Returns which results in a taxpayer facing penalties if they are submitted after the deadline.
Operating your business as a limited company instead of a sole trader or partnership can have a number of benefits, not least of these being a range of opportunities to save tax.
Completed a job and invoiced your client but haven't been paid? Sadly for many small businesses, this is a common occurrence.
Having your own business can be fantastic: lots of creative ideas, a new found energy and positivity, an opportunity to make some great business decisions with some financial reward!
In these challenging economic times, it is even more critical for SMEs to keep a tight rein on the finances and to plan accurately for the future.
The HMRC can come knocking on your door about any of the following government taxes: personal income tax and corporation tax, capital taxes (such as capital gains tax and inheritance tax), value added tax (VAT), excise duties and stamp duty land tax, environmental taxes such as Air Passenger Duty and the climate change levy, National Insurance contributions, child benefit and some other forms of state support including the Child Trust Fund, payments of Tax Credits and so on.