Accounts and Accounting

Accountancy advice tailored for small businesses

Accountancy is one of the most important areas of business. Every SME owner needs to have their finances in excellent shape – disorganized or inaccurate figures could harm business and impact the bottom line. Why not browse through articles in this section to polish up your knowledge on topics ranging from tax returns abd PAYE, to accountancy software and budgeting?

Introduction to VAT

Introduction to VAT

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Introduction to VAT

What's VAT? What's the threshold? What's exempt? We explain the basics here...

Dealing with HMRC for a Client

Dealing with HMRC for a Client

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Dealing with HMRC for a Client

If you're going to be dealing with HMRC on behalf of one of your clients, you need to obtain client authorisation. Here's how.

The Best Cloud Accounting Software for SMEs

The Best Cloud Accounting Software for SMEs

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The Best Cloud Accounting Software for SMEs

We've picked our favourite cloud accounting software that's currently available for small businesses.

How to Forecast Your Annual Profits

How to Forecast Your Annual Profits

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How to Forecast Your Annual Profits

Knowing how to forecast your profits is essential to small business. We share the basics of putting together an annual forecast.

Accountants: Outsourcing vs In-house

Accountants: Outsourcing vs In-house

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Accountants: Outsourcing vs In-house

Need to hire an accountant? Find out when you should recruit and if in-house is better.

Registering and Unregistering for VAT

Registering and Unregistering for VAT

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Registering and Unregistering for VAT

Want to register for VAT? We give you the ins and outs of registering, deregistration with a VAT 7 form, and handy online VAT software and tools.

Steps to Business Insolvency

Steps to Business Insolvency

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Steps to Business Insolvency

When your business goes beyond the brink, it can lead to insolvency. But just what is insolvency? Hint: It's got nothing to do with Bankruptcy.

Introduction to Not-For-Profits

Introduction to Not-For-Profits

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Introduction to Not-For-Profits

Top tips for starting and operating a not-for profit organisation, and turning a profit-making business into a not-for-profit

Separating Personal and Business Finances

Separating Personal and Business Finances

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Separating Personal and Business Finances

Keeping personal and business finances separate is essential - or you may end up in trouble with the tax man (or woman).

Busting Myths About Administrators (or Insolvency Practitioners)

Busting Myths About Administrators (or Insolvency Practitioners)

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Busting Myths About Administrators (or Insolvency Practitioners)

Putting right the myth that administrators are the bad buys. Read how they always try to salvage your business, not destroy.

Business ​Debt and Insolvency, and Tax

Business ​Debt and Insolvency, and Tax

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Business ​Debt and Insolvency, and Tax

Debt settlement to clear income tax debt, insolvency's effect on VAT, and bad debt relief.

How to Transfer Your Business Assets

How to Transfer Your Business Assets

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How to Transfer Your Business Assets

How can you transfer assets from one of your corporations to another? It's possible but can be tricky, so there are a few things you need to be aware of.

Appealing a VAT Penalty

Appealing a VAT Penalty

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Appealing a VAT Penalty

Appealing against a VAT penalty from HMRC means following the guidelines relating to an indirect tax appeal. This article outlines the appeals process.

Claiming Startup Expenses

Claiming Startup Expenses

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Claiming Startup Expenses

Got your startup up and running? Did you know that there are ways that you can reclaim the expenses of starting your business? Here's how...

HMRC Penalties for Self-Employed Workers

HMRC Penalties for Self-Employed Workers

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HMRC Penalties for Self-Employed Workers

​Tax rules on using self-employed workers have been tightened. Make sure you understand who's responsible for tax and NI if you have self-employed workers.

Here’s What to do When You’re Not Making a Profit

Here’s What to do When You’re Not Making a Profit

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Here’s What to do When You’re Not Making a Profit

Don't panic if you stop making a profit. Simply follow these easy steps to turn things around.

When Will Your Startup Start Making a Profit?

When Will Your Startup Start Making a Profit?

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When Will Your Startup Start Making a Profit?

It can take years to be profitable, but it doesn't mean you're a failure. Looking for positive signs and planning certainly helps.

Are Pay Slips Compulsory?

Are Pay Slips Compulsory?

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Are Pay Slips Compulsory?

It's Pay Day, so where do you stand legally on your current processes? By not providing a pay slip are you breaking the law? Here are the facts...

How Often Should I Submit a VAT Return?

How Often Should I Submit a VAT Return?

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How Often Should I Submit a VAT Return?

How often should you submit your VAT returns to HMRC? Should you consider using the Annual Accounting Scheme? What should you do if you make a mistake?

Mastering the Basics of Financial Management

Mastering the Basics of Financial Management

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Mastering the Basics of Financial Management

Read our quick tips on where to start if you want to improve skills in financial management.