How to do bookkeeping

How to do bookkeeping

When you run your own business, bookkeeping becomes an important part of keeping your finances in check. Here’s what you need to know to get started. What is bookkeeping? Bookkeeping is when you record your transactions. This includes purchases,… Read more
Making Tax Digital

What is Making Tax Digital?

As of April 2019, VAT-registered businesses with a turnover of more than £85,000 are required to use the Making Tax Digital (MTD) service to keep records digitally and use accounting software to submit their VAT Returns. This will enable businesses… Read more
Flat Rate VAT Scheme guide

Flat Rate VAT Scheme guide

When you submit your VAT Return, there are different methods you can use. The Flat Rate VAT Return is a popular method with small businesses, but what is the Flat Rate Scheme and why could it be a good option for your business? What is the Flat Rate… Read more
How to do a Self Assessment tax return

How to do a Self Assessment tax return

Find out what you need to know about your tax return, from if you should submit one to some tips to make completing one quick and easy. What is a Self Assessment tax return? A Self Assessment tax return is submitted to HMRC so that they receive… Read more
  • Category:
  • Tax
What are trade debtors?

What are trade debtors?

What is a trade debtor? Trade debtors are customers who are yet to pay you for the goods or services you have provided. So, on your balance sheet, the amount for trade debtors is the total money your customers or other third parties owe you, such as… Read more
What VAT can be reclaimed?

What VAT can be reclaimed?

If you’re a business that charges VAT on your sales, and you’re registered for VAT, then you can reclaim the VAT charged on your purchases and expenses. Find out what you need to know about reclaiming VAT in this guide. How VAT works There are 3… Read more
  • Category:
  • Tax