What is ‘turnover’ and how do you calculate it?
Turnover is one key indicator and profit another although the two are not be confused. Our quick guide will explain exactly what turnover is, why it matters, and how to differentiate it from profit.
Limited company annual accounts – when are they due?
Every limited company must submit accounts to HMRC and Companies House each financial year. In this article, we look at what statutory accounts are, and how to work out your filing deadlines.
Do you need an in-house accountant or bookkeeper?
At some point in your journey as a small business, you’ll probably come across a common dilemma – you need an accountant. But what’s the best solution for your business? Should you hire an in-house…
Guide to bookkeeping for new business owners
If you’re starting a new business, then the bookkeeping requirements are unlikely to be at the forefront of your mind. At this stage there are more pressing things for you to think about. However, once…
Annual and Monthly PAYE and NIC tax deadlines for small businesses
The table below highlights some of the key dates to look out for when making income tax and NIC payments to HMRC. Chances are, your accountant will be well aware of all tax deadlines, however…
Setting up accounts for a sole trader – a beginner’s guide
If you decide to work for yourself and begin trading as a sole trader, (self-employed) you will need to set up your accounts to record your income and expenses. In order to do this, you will…