Accountancy Articles

18 Tips on How to Choose an Accountant
Accountants: 18 Tips on How to Choose an Accountant

One of the most important decisions you will make as a business owner is choosing an accountant to help you with your business. You need to find one that matches your needs, you feel comfortable with, can trust and whose fee levels are fair.

Why Use an Accountant?
Accountants: Why Use an Accountant?

You may feel that you can keep your own financial records, and calculate your own tax liability. Wouldn't it be better however to concentrate on doing what you do best in your business? Elizabeth Tapley of TaxAssist Accountants explains why most people turn to the expertise of an accountant.

What is the difference between a bookkeeper and an accountant?
Accountants: What is the difference between a bookkeeper and an accountant?

Good question. My first thought was "I wish I knew the answer" and my second was "I wonder how many times I will be shot" by fellow professionals for the definition I am about to volunteer!

3 Common Accounting Errors to Avoid
Accounting Errors: 3 Common Accounting Errors to Avoid

Accounting is such a broad subject it can feel like a minefield you need to cross to take control of your business.

What are Key Performance Indicators (KPI's)?
Accounts: What are Key Performance Indicators (KPI's)?

How many of you would drive a car whilst only looking in the rear view mirror? I'm guessing none. So why do some business owners do the equivalent in their businesses?

Choosing a Bookkeeper
Bookkeeping: Choosing a Bookkeeper

"Life doesn't give us what we need. Life gives us what we deserve." Jim Rohn

Business Structure - Limited Company, Partnership or Sole Trader?
Business Structure: Business Structure - Limited Company, Partnership or Sole Trader?

Limited Company, Partnership, Sole Trader? Which is best for you?

3 simple ways to maintaining your business cashflow
Cashflow: 3 simple ways to maintaining your business cashflow

Maintaining your business cashflow – 3 simple ways in which you can do this

11 Reasons to a Choose Cloud Accounting Solution
Cloud Accounting: 11 Reasons to a Choose Cloud Accounting Solution

You're starting a business. You're scared but really excited. You finally get to be your own boss and focus on what you're good at and be free from office politics, the bureaucracy of filling in endless forms or being sent in all directions. Often the scary bit is dealing with the finances. You've never had to do that part before and it's doing your head in. Well, here's a suggestion. Get your head in the cloud.

What expenses can I claim now that I am self employed?
Expenses: What expenses can I claim now that I am self employed?

The rather glib answer is "Anything that relates to your business". Whilst this is generally true, there are some expenses which, although genuine business expenses, are specifically excluded from tax relief, such as:

What is a Finance Director?
Finance: What is a Finance Director?

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. Employing a part time FD will make a real difference to your business

Starting a New Business: The First Sturdy Timbers
Planning Ahead: Starting a New Business: The First Sturdy Timbers

The sturdy oak posts were at least 10 feet long. They had been hewn from mature oak trees that had all been felled in the Spring of 2049 BC.

Tips on to help you launch your business start up successfully.
Profit: Tips on to help you launch your business start up successfully.

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!

Research & Development: can you benefit? (UK)
R & D Grant: Research & Development: can you benefit? (UK)

The Government is continuing to promote research and development (R&D) with a range of tax incentives. R&D capital expenditure is liable to an automatic 100% deduction under capital allowances so it is worth considering the possible benefits to your business.

Important Tax Dates
Tax: Important Tax Dates

The main submission dates which must be adhered for individuals and Limited Companies

HMRC Self Assessment Penalty Regime
Tax: HMRC Self Assessment Penalty Regime

HMRC have a penalty regime for Tax Returns which results in a taxpayer facing penalties if they are submitted after the deadline.

End of Year Tax Planning
Tax: End of Year Tax Planning

How to make use of your annual tax-free allowances.

When the Taxman Calls
Tax: When the Taxman Calls

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.

How Can Company Owners Pay Less Tax?
Tax: How Can Company Owners Pay Less Tax?

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.

Avoidance or Evasion?
Tax: Avoidance or Evasion?

I am regularly asked the difference between tax avoidance and tax evasion. The simple answer is about 18 months at Her Majesty's pleasure, as an ex-Vantis tax director recently found out.

Schemes that seem too good to be true.
Tax: Schemes that seem too good to be true.

I hear a number of contradictory messages when it comes to tax.

Business Records Check
Tax: Business Records Check

The first results of the 'Test and Learn' phase of the Business Records Check (BRC) that HMRC recently commenced have started to come through.

Why Use An Accountant?
Using an Accountant: Why Use An Accountant?

The reasons for using an accountant rather than doing your own accounts.

How To Calculate VAT
VAT: How To Calculate VAT

How to calculate your VAT payment. An explanation for new small business start ups.

How can I simplify VAT in my business (and save myself money)
VAT (UK): How can I simplify VAT in my business (and save myself money)

Special VAT accounting schemes have been available for several years but are still underused. Designed to make compliance easier, there are several schemes available. Here we look at one particularly suitable for small businesses, the Flat-rate VAT scheme (FRS).