What Taxes do Small Businesses Pay?

Small Business Tax

Taxes are an inevitable expense of any small business, but not all tax bills are equal. The amount of small business tax to be paid differs, for instance, between a sole trader and a limited company. Let’s take a look at the taxes that a small business can expect to encounter and which ones you […]

How long should an accountant keep client records?

How long do accountants keep client records

Keeping records is incredibly important for a business. They prove that you’ve met relevant obligations, and that the claims you make in regard to financial goings-in and out are substantiated. Accountants need to hold on to records after they’ve been sent to HMRC and Companies House for the purpose of annual accounts. But for how […]

Is it a legal requirement to have an accountant?

Do you need an accountant to file accounts

Having an accountant on side for your business can do so much for your financial health and organisation. However, despite the strengths of a chartered accountant, it isn’t a legal requirement to employ their services. What about your statutory obligations to HMRC and Companies House? Do you need an accountant to file accounts or to […]

What qualities should an accountant have?

What qualities should a good accountant have

When thinking of the qualities an accountant needs to have, one obvious requirement comes immediately to mind: good with numbers! Of course, this isn’t the only strength of a good accountant these days, and what an accountant should know for your SME comes down to much more than mathematics. Let’s take a closer look. What […]

What role does an accountant play in my business?

What is the role of an accountant in a business

Accountants are the people who know how to guide you through the complicated realm of taxes, VAT returns, and other statutory obligations your business has to meet. Having an accountant on your team isn’t a legal requirement, but they’re doubtless a strength that many businesses couldn’t do without. So, what do they actually do? What […]

Do you need an accountant to file your tax return?

Do I need an accountant

Nobody looks forward to paying taxes, but it is an inevitable part of business for any company. Tax returns must be filed with HMRC every year, and is a routine affair for those familiar with it, but for the uninitiated it can quickly get complex. The internet is rife with questions about the world of […]

What is a chartered accountant?

Chartered accountants

Accountants have historically bore an unfair reputation as bean counters, people who will only tell you how much money is going out and how you can hold on to more of it. While this is something an accountant can do, their true roles utilise infinitely more wisdom. Readers who have sought out the services of […]

Accounting Advice for Small Companies

Small company accounts

Managing financial affairs effectively is the lifeblood of small companies. Keeping abreast of those finances is crucial, not only for making sure you meet your compliance obligations but also to guide decision-making and planning. It’s difficult, if not impossible, to make informed decisions about the future direction of your company if you don’t have all […]

Do I Qualify as a Micro-Entity?

Micro accounts threshold

A micro-entity is the name given to UK-based private limited companies that are very small. Directors of micro-entities can save time when it comes to preparing and filing their accounts by submitting micro-entity accounts with Companies House. These accounts are in a vastly simplified format but contain all the key information that can be found […]

What Does an Accountant Do for a Limited Company?

Limited company accountants

The overwhelming majority of limited companies use the services of an accountant to prepare their financial accounts. While there is no legal requirement for a limited company to use an accountant, there are considerable benefits in doing so. Taking care of the financial affairs of a limited company can be both complex and time-consuming. It’s […]

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