Managing Your Books (Hints & Tips)

Whether you are starting out or well established, we can guide and plan your growth alongside VAT responsibilities.

What is a Balance Sheet, and why is it more important than you might think?

Financial statements and accounts can be confusing, and it’s easy to focus on profit above everything else. It’s important to consider what your financial statements are telling you, as these can prove valuable insights into running your business, and can help you to...

National Insurance if you’re Self-Employed

National Insurance pays for certain state benefits and the State Pension. Almost everyone pays National Insurance on their earnings, but self-employed individuals need to make contributions too. What is National Insurance? National Insurance Contributions (NICs) are...

The Benefits of Submitting Your Tax Return Early

When it comes to submitting your tax return, it sometimes seems easier to put it off until the last minute, but it pays to submit your self-assessment tax return as early as you can. Read on to find out why. As someone who is self-employed, a sole trader or a...

Payroll Year-End – What do you need to do?

With the end of the tax year fast approaching on 5th April, make sure you know what payroll tasks you need to do to start the year right. Payroll is based on the tax year, which runs from 6th April to the following 5th April, and an employee’s pay details for the tax...

Tax for Small Landlords

Renting out a property can be a great way to earn some extra income, but residential and commercial landlords should make sure that they are aware of the tax implications and make sure that they get things right. Landlords who are not operating their business through...

Corporation Tax – What is it and do I need to pay it?

On 17 November 2022, the UK Government Chancellor, Jeremy Hunt, confirmed that the planned rise in corporation tax will go ahead on 1 April 2023. This means what the rate of corporation tax will increase to 25% for profits for the financial year 2023-24. But it’s not...

Self-Assessment Deadline – Are You Prepared?

With under 60 days until the self-assessment deadline, are your tax affairs in order? The deadline for online submission of self-assessment tax returns for individuals and sole traders is 31 January 2023. This applies to all sole traders, company directors and...

Choosing a Business Structure: Sole Trader

Choosing which type of business structure to operate can be confusing and difficult. In this series of articles, we look at the pros and cons of each structure to help you decide which one is best for you A sole trader is the simplest type of business structure. This...

Choosing a Business Structure: Partnerships

Choosing which type of business structure to operate can be confusing and difficult. In this series of articles, we look at the pros and cons of each structure to help you decide which one is best for you. A partnership – sometimes referred to as a general partnership...