If the words “GDPR update” make you want to immediately switch off and find something more interesting to read, you’re not alone. Data protection legislation is hardly the most exciting topic for business owners. However, the latest changes to UK GDPR are worth understanding because they could affect how your business [...]
After 15 years of standing still, HMRC's approved mileage rate has finally increased. As part of the Government's Great British Summer Savings package, the tax free mileage allowance for cars and vans has increased from 45p to 55p per mile for the first 10,000 business miles travelled each year. Better still, [...]
One of the most common questions business owners ask is: “How much, or what percentage, should I be saving for Corporation Tax and VAT?” The honest answer is that there is no single fixed formula. But the good news is that there are sensible rules of thumb that work well for [...]
Management accounts are regular financial reports that show how a business is performing. They are usually prepared monthly or quarterly. They help, you as business owners understand your income costs and profit during the year instead of waiting until the end of the year. Management accounts often [...]
In my opinion, when you are looking for a referral or a recommendation, the route it comes through matters more than you might realise. Over the last twenty years, I have observed a clear hierarchy of trust, quality and value depending on where a referral originates. Some recommendations are rooted in [...]
Over the years, we’ve seen clients come and go for many different reasons. Some left for smaller accountancy firms that promised lower fees or a more hands-on approach, only to return when those firms struggled to keep up or failed to deliver. Others moved to much larger practices, attracted by big [...]
The Autumn Budget was full of big tax announcements, but only a handful really matter for small business owners. We have trawled through the detail so you don’t have to. Below is a clear and practical summary of the measures that will affect small business owner. The Good Faster Tax [...]
You may have seen a recent news story about a bookkeeper in Kent who stole nearly £100,000 from her employer. (see the link below if you didn’t) She did it over a couple of years, hiding behind emotional stories and clever use of company accounts. It’s the sort of tale that [...]
Xero are giving their navigation and homepage (what they used to call the dashboard) a bit of a makeover. It’s all about making it easier to find what you need and giving you more control over what you see. Here’s a quick heads-up on what’s new: Simpler navigation – things are [...]
If you're a small business owner, you might have heard about the potential changes to Companies House filing rules. The proposed regulations aimed to mandate smaller businesses to disclose more detailed financial data. These highly unpopular, potential change have been paused by the government. This decision is welcome relief for many small businesses, offering [...]
