Chancellor Rachel Reeves has delivered Labour’s first Budget since 2010, after the party’s return to power in July’s general election. This latest Budget introduces a series of changes that will have a substantial impact on small businesses. Here’s a look at some of...
Essential bookkeeping tips for small businesses As a small business owner in the UK, managing your finances effectively is essential to your success. While you may be passionate about your products or services, keeping your financial records in order can often feel...
The Bookkeeping Process A Bookkeeper is responsible for recording and maintaining a business’ financial transactions, such as purchases, expenses, and sales revenue. They will record financial data into general ledgers, which are used to produce the balance sheet and...
Xero NEW Invoicing Did you know that the classic invoicing is retiring, and you will be prompted to use the new invoicing from 2nd September 2024. You will be able to temporarily switch back to the classic invoicing until 20th November but not after that. We know that...
Tax Return Information and TipsTime flies, doesn’t it? I know it’s a cliché, but it really is true. This time of year, seems to arrive before we know it, and suddenly, your to-do list feels endless. Amid all the chaos, don’t forget about one crucial task: your...
Is it better to work with a bookkeeper or do it yourself? Let’s be honest! There are pros and cons to both scenarios. You can definitely do your own bookkeeping and potentially save money. But and it is a big BUT! If doing your own bookkeeping takes valuable...
Do you find yourself hesitating to take risks or pursue new opportunities because you’re afraid of failing? You’re not alone! The fear of failure is a common barrier that holds many people back and understandably so. According to the Office for National Statistics,...
Understanding Basic Period Reform and How it May Affect YouThe term ‘Basis period reform’ involves changes to the rules governing the determination of the accounting period for which income is assessed and taxed. It relates to the timeframe used to calculate taxable...
A Step-by-Step Guide to Setting Up a Limited Company Are you ready to take your business to the next level? Setting up a limited company can provide numerous benefits, including limited liability protection and potential tax advantages. If you are...