Category Archives: Accountancy

How to Prepare for “Making Tax Digital”


What is “Making Tax Digital”? In March 2015, the government announced its plans to replace annual tax returns with digital tax accounts, in order to “modernise the tax system”. The initiative aims to eliminate the need for tax returns and simplify the tax system. Instead of filling out an annual tax return, small business owners, […]

What can I record as Expenses?


Most things that you buy for your business can be classed as expenses. Any Corporation Tax your business pays is calculated after your expenses have been taken into account. So accurately recording expenses means you can end up paying less tax. Startup Costs One of the first things your business can claim back are your company […]

Summer Budget Targets Contractors and Agency Workers


One of the biggest drivers of new limited company formations in the past couple of years has been contractors and agency workers. The use of limited companies by highly paid and skilled consultants and IT contractors has been well established for a number of years. In part these kind of high earning contractors have worked […]

6 Numbers Every Business Owner Needs to Know


We’ve all seen it on Dragon’s Den. The sight of budding entrepreneurs squirming in front of the panel as they try to recall the financial information about their fledgling businesses that will go a long way to determining whether they secure investment or not. But it’s not just your prospects for receiving a cash injection […]

Invoice Template v Invoice Software: Which is best for small businesses?


One of the first things many new businesses need to learn to do is how to issue an invoice. If you are selling to other businesses, doing building work or anything other than fairly straightforward retail sales you will need to give your customers an invoice before you get paid. According to the official government […]