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- Tax Saving Accountants
- 19 Jan 24
How to Run Payroll Services For a Small UK Business
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 […]
- Tax Saving Accountants
- 21 Dec 23
Tax Calendar 101: Stay Ahead of the Game with Key Dates for Sole Traders
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 […]
- Tax Saving Accountants
- 17 Nov 23
How to Organise Business Receipts for Financial Clarity
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 […]
- Tax Saving Accountants
- 15 Jun 23
Financial Planning for Small Businesses: Setting Goals for the Second Half of the Year
As we roll into the second half of the year, business owners are right in the throes of the business annum. However, it’s also the perfect point to review your financial performance so far so you make any necessary adjustments to achieve year-end objectives and stick the landing come Christmas. As a small business owner, […]
- Tax Saving Accountants
- 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 […]
- Tax Saving Accountants
- 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 […]
- Tax Saving Accountants
- 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 […]
- Tax Saving Accountants
- 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 […]
- Tax Saving Accountants
- 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 […]
- 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 […]