Whether you’re launching a completely new business or thinking about the next phase of growth, you may be wondering, “Do I need an accountant?”
In this article, we consider the three key areas that may influence your decision to employ an accountant to help in your business.
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Running an accurate payroll is central to the smooth running and success of your business. The truth is, your employees don’t notice that things are going well as long as their pay arrives in their bank account on time each payday. But if it goes wrong, you’ll certainly know about it! In addition to upsetting your staff, if payroll goes wrong you face hefty fines and penalties that can seriously damage the financial wellbeing of your business.
Auto-enrolment, rolling RTI deadlines, and changes to legislation all combine to create a complex administrative process for running accurate payrolls. To be honest, payroll is complicated for professionals like us – never mind business owners like you who just want to focus on the sustainable growth of your business.
With this in mind, let’s take a look at five common payroll mistakes and how to avoid them.
Read moreYou can’t have missed that the Chancellor of the Exchequer announced his 2021 Budget last week but have you taken a moment to work out what it means for you?
If you haven’t – don’t worry! Simon has created this short summary for you including handy links to find more information on specific subjects.
Read moreThis article takes into account the government’s Pay as You Grow support initially announced in September 2020 and the full details released in February 2021. The details were correct at the time of writing (26/2/21).
Please also note that this article relates only to Bounce Back Loans, not to CBILs or other government backed financial support in response to the pandemic.
Read moreWithout wishing to rehash all the 2020 cliches, it’s fair to say that it was nothing if not memorable! Indeed, whilst it was the most challenging year for many, it was also a year that saw the creation of record numbers of new businesses. In fact, according to research by shl.com estimates suggest more than 85,000 new businesses were created in the UK in 2020.
Read moreChristmas – in whatever guise it takes this year – is looming large on the horizon. For many sole traders, partnerships, self employed people and anyone who has to submit a self assessment tax return for any other reason, it’s also about now that panic will be starting to gently simmer…
Read moreWhen you started your business did you expect that you would need an expert insight into the workings of Companies House and HMRC? Or, did you think you’d be able to spend more time doing something you love and getting paid for it? Our money’s on the latter. But we’d also be willing to bet the the ins and outs of Statutory Accounts and Corporation Tax are something that takes up more time than you would like. Unless you’re already an Accountancy Solutions client of course! With this in mind, this article takes a look at some of the important information you need to know about Statutory Accounts and Corporation Tax but written with you in mind…
Read moreAsk any employer and they will often tell you their biggest headache, and most valuable asset, is their staff. Staff tend to be equal parts the reason your business is as successful as it is AND an administrative nightmare. Facts that are certainly true when it comes to managing your payroll!
Read moreOctober through to January tends to be silly season for accountants and bookkeepers. Faced with the rapidly approaching self assessment deadlines, business owners and individuals suddenly realise it’s time to get their paperwork in order. In fact, if you’re still submitting paper self-assessments, you really need to focus as your deadline is 31st October! (On that note, if you are still submitting paper self assessments, please give me a call to fix that!).
Read moreSince its inception, many businesses have reaped the benefits of cloud accounting. However, if you are using spreadsheets or server-based accounting systems, the thought of migrating your entire business finance operations to the cloud might well be daunting.
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