Why Should Small Businesses Use Xero? Being your own boss, realising a dream, flexible working hours; these are just some of the many reasons for starting and running your own business. A passion for bookkeeping and accounting, however, is rarely a motivating factor. (With...
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How to successfully file your tax return Who needs to register as self-employed? Self employed/freelancersIf your savings and investments are £10,000 or more (before tax)If you have property income which is £2,500 or more Dividends of £10,000 or more (before tax)If you’...
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Business Expenses

August 27, 2019
Expenses you should be aware of It is impossible to run a business without spending money on it, no matter how big or small the business is. The allowable expenses that can go under the business expense category are payments made for the sake of business operation. To help e...
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Budgeting

August 27, 2019
Let’s first consider what budgeting means in simple words. The basic meaning of budgeting is to have an estimated idea of how much money is earned and how much needs to be spent both short and long term. It’s more like programming your spending. Although budgeting is con...
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Making Tax Digital

April 15, 2017
Always wanted to run your own business but couldn't due to complications with HMRC and earnings? Well maybe now is the best time for you to start! HMRC are bringing an end to all complications raised regarding your tax by simply requiring you to send quarterly updates of you...
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Making Tax Digital for individuals The Personal Tax Account enables individual's information to be stored in one online place. Individuals are entitled to access the service at any time that suits them best from a digital device of their choice. The Personal Tax Acco...
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The Flat Rate VAT Scheme (FRS) is Changing If you haven't already heard, changes to the Flat Rate VAT Scheme (FRS) will be coming into effect from April 2017. These changes will affect the majority of small businesses who currently rely on FRS to simplify the VAT process. ...
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