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Self Assessment Tax Returns 2024 / Bookkeeping

  • 2 June 2022
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HMRC have announced that from April 2024 all Self Assessment Tax Returns will have to be done quarterly. On top of this they are introducing MTD. Basically this means the returns will have to be done digitally ie. through Software….

Bank Reconciliation as part of bookkeeping

  • 28 May 2022
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When we do bookkeeping for our clients, we include a full bank reconciliation. This ensures all in your business bank account are recorded in your Accounts and your Bank Balance is reflected in your Accounts. This is just procedure to…

Business Tip

  • 25 November 2021
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A very good tip, especially for small business owners. Don’t take whatever money you have in your business whenever you need it for personal reasons. Pay yourself a wage and stay within its limit. Not only does it help keep…

SEISS (Self Employment Income Support Scheme Grants)

  • 5 November 2021
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There are lots of rumours going around how to enter SEISS grants in a Tax Return. The truth is HMRC states they are subject to Income Tax and National Insurance, so are required to be recorded on a tax return….

HMRC Tax Returns Deadlines

  • 28 October 2021
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The deadline for 2020/2021 Tax Returns which are submitted by Paper is 31st October 2021, if you’ve a HMRC Gateway Online Account the deadline is 31st January 2022. If you’ve not got your Accounts prepared as yet then ensure you’ve…

5th and Final Self Employment Income Support Grant

  • 27 June 2021
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A fifth grant covering May 2021 to September 2021 will be open to claims from late July 2021. The grant is taxable and will be paid out in a single instalment. Guidance about claiming the grant will be available from…

Does a business owner need a business bank account?

  • 26 June 2021
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Sole Trader, business Bank Account or no? A sole trader in the UK doesn’t legally need to have a business bank account. It is fine to use your personal bank account for both business and personal transactions or you can…

Bookkeeping Tips For Small Businesses

  • 26 April 2021
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As a small business owner it’s not easy to find time to keep records and keep your bookkeeping up to date. Here are some accounting ideas to  keep on top of your accounting, which in the long term will save…