Guides

13 January 2021

How to run a business from home

Running a business from home is a great way to keep costs low when you’re starting out. We’ll take you through what you need to know to make your home business a success. Make sure you’re registered When you start a business you need to make sure… Read more

4 January 2021

What are fixed assets? How to record them in accounting

If you’re purchasing assets for your business, it’s a great idea to know the different kinds of fixed assets you can have, and how to record them correctly in your accounting. What are fixed assets? An asset is something that you own in your… Read more

18 November 2020

Guide to late filing penalties

It’s really important to file your taxes on time! If you don’t, you can face penalties from HMRC. There are several different taxes you may need to pay if you run a small business or work self employed. You can find out more about the taxes you may… Read more

16 November 2020

Guide to Capital Gains Tax

Capital Gains Tax can seem complicated! We take you through it step-by-step so you know what to do if you dispose of your assets. What is Capital Gains Tax? When you dispose of an asset that has increased in value you’ll need to pay Capital Gains… Read more

26 October 2020

Guide to business rates

If you run a business in the UK, you’ll need to pay business rates on your business property. This guide takes you through what you need to know! What are business rates? You’ll need to pay business rates if you use a non-domestic property. This… Read more

13 October 2020

How to set up as a sole trader

Becoming a sole trader is a great way to start running your own business, but there’s lots to think about before you make that commitment. From how to become your own boss to what you need to consider before you start, find out what you need to… Read more

23 September 2020

How to run a side business

Starting a side business can be an exciting way to make some extra money. It’s also an opportunity to test your business idea without the pressure of making it your sole income. When you start a side business there are a few things you need to… Read more

22 September 2020

How to run a limited company

Starting a limited company is a great step to grow your business! But, there are some important practical steps you need to take to make sure your company is run the right way. Responsibilities of a limited company director As a limited company… Read more

9 September 2020

What is freelancing? How to be a freelancer

Becoming a freelancer is a great way to make your passion your job. From how to get started to what you need to consider, find out what you need to know. What is a freelancer? Being a freelancer is when you work for yourself, either as a full time… Read more

31 August 2020

What is liquidity and why is it important?

Liquidity is a common term used when discussing how healthy your business finances are. But what is liquidity, why is it so important for your business, and how will your cash flow affect it? What does liquidity mean? Liquidity is how much you could… Read more

24 August 2020

What is a bank reconciliation? And how to do one

Bank reconciliations are recommended to make sure all your accounting is correct and that your records match your bank balance. But what is a bank reconciliation, and how do you do one? In this comprehensive guide, you’ll find everything you need to… Read more

17 August 2020

What are opening balances?

Opening balances are the amount of money in an account. It is usually brought forward from an accounting period. This could be from the start of an accounting period, the end of the previous accounting period, or when you start a new company. How do… Read more

20 July 2020

What allowances can I claim as self employed?

There are several different allowances you can claim as a self employed person; a Personal Allowance, capital allowance, tax-free allowances and allowable expenses. What is a personal allowance? A Personal Allowance affects what amount of your… Read more

13 July 2020

When are VAT Returns due?

Paying your VAT Return on time is really important to avoid any penalties from HMRC. Your VAT Return payment deadline can be found in your HMRC VAT online account or MTD software, and it will vary between businesses. You can also find out when the… Read more