Category: Bookkeeper

Personal Savings Allowance: What is it and how does it work?

The Personal Savings Allowance allows most individuals to earn up to £1,000 of income from their savings tax-free. Introduced on April 6th2016, The Personal Savings Allowance benefits those earning income from money in savings. Before this date, any income earned from savings was liable to income tax. As a result of the allowance, most people…




Income tax rates for the new 2019/2020 tax year

April marks the start of the new tax year, and all businesses and employees should ensure that they understand what has changed and how they will be affected. The changes to this year’s tax rates were announced by Chancellor Phillip Hammond in the Autumn 2018 Budget and came into effect on April 6th2019. Make sure…




What are the benefits of using accounting software?

Even if you’ve hired an accountant, accounting software is an invaluable tool for every business, no matter its size. Whether you’re a freelancer or an e-commerce business, accounting software will help you to record, manage, and analyse your business’ finances and performance. Having all your financial information stored in one organised, digital place makes your…




How Much is Your Business Worth?

As business owners we all value our businesses highly, however not every business owner can put a cash value on their business. This is because valuing a business is not as simple as it sounds. Even the great investor Warren Buffet described as much of an art as it is a science. The average small…




Avoid This Major Tax Mistake

Tax can be a source of anxiety for most business owners who prefer not to think to much about it until those dreaded deadlines come into view. This anxiety is not helped by myths and false beliefs about tax which can end up costing your business more than is necessary. With this in mind here…




Will There Be A World Cup Footy Bonus For UK Economy?

A lot is made of the benefits hosting a major sporting event can have on a national economy. If you are old enough to remember the excitement of England’s hosting of the European football championship in 1996 or the heady days when the national team had realistic hopes of winning subsequent tournaments, you may have…




Sole Trader or Umbrella Company – Which is Best For Freelancers?

If you work as a freelancer, there may be times where you consider contract work to generate more income. Some companies, however, will insist that they can only pay you direct if they are paying you via a limited company. This leaves the freelancer with a problem if they operate as a sole trader. The…




Government Targeting Cash In Hand Loopholes

Cash in hand has long been something accepted by people working as builders, plumbers, childminders and other tradespeople but the government has now released proposals to change the rules on the size of payments that can be received in cash without a receipt. While the practicalities of enforcing a blanket ban on cash in hand…




Government Targeting Cash In Hand Loopholes

Cash in hand has long been something accepted by people working as builders, plumbers, childminders and other tradespeople but the government has now released proposals to change the rules on the size of payments that can be received in cash without a receipt. While the practicalities of enforcing a blanket ban on cash in hand…




The Importance of Protecting Your Business From Bad Weather

The so-called ‘Beast from the East’ which blew in some extreme cold weather from Siberia may have cost the UK economy 1bn a day according to some estimates which could translate into 50% reduction in GDP growth for the quarter. If you did manage to venture out in some parts of the UK in early…