Accounting

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.

At some point in your journey as a small business, you’ll probably encounter a common dilemma - you need an accountant. But what's the best solution for your business? Should…

If you’re starting to employ people in your business, mastering payroll will become an essential part of your business. Get it wrong, and you risk unhappy employees and potential penalties…

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 your business is taking shape, you will need to start thinking about keeping up-to-date and accurate accounting details of your income and expenses. But what kind of records do you need to keep?

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 business owners are ultimately responsible for ensuring that tax liabilities are paid on time.

Few people start a new business so they can do paperwork. Spending time adding up receipts or pushing invoices around a desk is nobody’s idea of fun – unless you’re starting up as a book-keeper or accountant!

Here's an explanation of the travel and accommodation expenses rules for sole traders. It explains what you can and can't include in your business accounts.

In this guide, we take a look at the differences between financial and management accounts, and how each type of accounts can benefit your business.

Claiming business expenses can help you to cut your tax bill but, knowing what, and how much you can claim for isn’t straightforward. Fortunately, HMRC allow the self employed to use ‘simplified expenses’ to claim certain allowable business expenses without having to make complicated calculations.

While selecting an accountant can be a vexing process, especially for a new business startup, it's much simpler if you approach it systematically and ask the right questions. So, to…