Being a bookkeeper and a business owner means my day rarely runs to plan.  A full day of bookkeeping only happens when I visit clients because there are no telephone calls, emails, visitors, staff or other priorities requiring my attention.  When I am in the office for the day I start the day with good […]

With another new year fast approaching, one of your small business goals may be to catch up on your bookkeeping. Indeed, one of the most common mistakes that small business owners make in this regard is mixing personal and business expenses also known as piercing the corporate veil. Even if you’ve been comingling your transactions […]

With the changes to the National Living Wage and National Minimum Wage just around the corner HMRC have published the top ten ways an employer may not be paying the minimum wage even though they think they are. Here are the top ten common mistakes employers make: 1. Failure to apply the increase from 1 […]

Businesses fail for many reasons but nearly all of them cite outside forces working against them – rent or rate rises, parking charges, delays caused by suppliers, no support from the bank, etc, etc. What they don’t think about is that maybe they are selling the wrong product, or perhaps the right product for the […]

I am often asked by a new business owner what accounts software they should use. A simple question but of course it all depends ….. Today, for example, I was asked by a small charity what software I recommend they use because they want to change from spreadsheets.  It is important to know what they […]

In our most recent blog post, we shared tips for optimizing your accounts receivable in order to boost cash inflows. But when it comes to money leaving the business, you also need to have a solid plan in place especially in regards to accounts payable. What is Accounts Payable? Think of this as an IOU […]

I was chatting with a business owner today who said there are only two advantages to being self-employed – you can go on holiday when you like and you can work with who you want to. That started me thinking – are there really only two advantages and no disadvantages?  If that was the case why […]

Its that time of year when we may be thinking about how to reward our employees for their support during the year.  A Christmas meal, a bonus, a bottle of wine or some chocolates?  Whatever gift you decide on you should be aware of the tax and National Insurance implications of what you give them. […]

As an employer you may be unsure whether your employee can take holiday when they are off sick.  Employees can request that they use their holiday during periods of sickness instead of receiving sick pay.  Statutory Sick Pay (SSP) is paid after 3 days of sickness and is, in 2018-19, £92.05 per week.  As the […]

If you are a sole trader preparing to file your tax return did you know that some of your business expenses can be calculated using HMRC’s rules for simplified expenses?  This includes motor vehicle costs and working from home which can often be time consuming to keep records of. Simplified expenses for motor vehicle costs […]