As business accountants, we regularly discuss with owners the issues surrounding the use of cars inside a limited company. Outside of the use of electric cars, company cars will cause …
Top 5 VAT Mistakes
As business accountants we review and submit many VAT returns for clients who do their own book-keeping. Book-keeping tends to be a misunderstood task that actually involves a lot of …
What is depreciation and how does it work in a small business?
In relation to a small business, depreciation means the decrease in value of something your business owns (an ‘Asset’). For example, you might own a Macbook Pro that cost £2100. …
The Super Deduction – 130% Tax Relief
Announced in the 2021 budget, the new Super Deduction measure allows you to get even more tax back than before when buying ‘the big stuff’, such as: New vans New …
Top 5 book-keeping mistakes to avoid!
Our book-keepers and accountants regularly see common mistakes made by business clients who do their own bookkeeping. If you’re making the same mistakes in your business bookkeeping, these will cost …
Can I pay for business expenses with cash?
As business accountants this is a question that pops up all the time. In this blog, we debunk some business expenses myths and give you some practical advice on making …
Transferring your Sole Trader to a Limited Company – Things to consider when you do
Being a limited company can be awesome for tax saving in the right circumstances. If you are already a sole trader business, then turning into a limited company creates opportunities …
Tax Trap: Website Costs
Thinking of spending big on a new website for your business? If so, there are some important tax points to consider. A website can be an amazing revenue-generating ‘asset’ for …
Making a loss in your business – is it OK?
Many new entrepreneurs worry about making a loss in their first year or so. Many others have heard it’s normal to make losses early. So is it OK for your …
What is a dividend?
You might feel like this is a silly question, but most of us don’t get taught this kind of thing at school. As business accountants, we spend all day helping …