What is a sole trader? A sole trader definition is a person that sets up business on their own and do not work for another business. In the UK this is one of the most popular small business formations. A sole trader will also be self-employed and will need to register with HMRC. They can Read More
Bookkeeping Blog
The Importance of Bookkeeping
Are you wondering what the importance of bookkeeping is? You may be an expert at running your business, getting new sales and dealing with suppliers. Some small businesses do not see the importance of bookkeeping and leave it all to the last minute. It is important to keep your bookkeeping up to date. There may Read More
Bookkeeping Tasks
There are many bookkeeping tasks to complete as either a bookkeeper or small business owner. Complete bookkeeping duties on either a daily, monthly, quarterly or annual basis depending on what they are. Getting into the routine of completing bookkeeping on a regular basis can save the time and heartache of having to rush it when Read More
House of Lords wants to slow down Making Tax Digital
The House of Lords wants to slow down Making Tax Digital (MTD). It is due to be introduced to businesses that are VAT registered from 1st April 2019. It is estimated that without the delay 1.2 million businesses will start MTD from next year. All businesses with an annual turnover of more than £85,000, or Read More
Bookkeeping Business Names
Are you looking for Bookkeeping Business Names? Trying to choose the best name for your new bookkeeping business is important. The name will be one of the first things that a potential client will see. Try coming up with a few different names and then choose the best one. Your name is all part of Read More
Bookkeeping Templates for Self Employed
Are you looking for bookkeeping templates for self employed? Business Accounting Basics have several Excel Spreadsheets that can help to improve your bookkeeping procedures. All templates are free to download and easy to use. As a small business owner, it is easy to put your accounts to one side and concentrate on the sales and Read More
Bookkeeping for Self Employed
Are you looking for bookkeeping for self employed? If you are either a sole trader or in a partnership, you will need to register as self-employed with HMRC. You will be required to complete a self assessment tax return on an annual basis. Read our information on registering as self employed. On a self-assessment tax Read More
Making Tax Digital VAT
The first phase of making tax digital VAT will come into force from April 2019. HMRC had delayed the date, but they are now working closely with software companies to achieve the new deadline. Table of Contents Making Tax Digital what does it mean for me?What costs are involved?Can I complete MTD VAT Myself?Making Tax Read More
Xero becoming popular accounting software
Xero is becoming a popular accounting software around the world. They have just announced their growth figures and have reported 43% growth. The UK market has seen an additional 79,000 users during the last year, with a total of 212,000 now using it. Worldwide there saw an additional 318,000 subscribers. Why is Xero so Popular Read More
Making Tax Digital for Business
Making tax digital for business will start affecting the smaller businesses which are not registered for VAT. It is expected to commence in April 2019. It is still unclear from HMRC if it will include all small businesses or if very small ones will be excluded. Small companies will have to submit their accounts online Read More
Online Banking Making Business Accounting Easier
Online banking making business accounting easier. With so many people now choosing to bank online and being able to see their banks statements each day, this can make business accounting much easier. When running your own business you get caught up in the day to day running of your business, trying to sell your products Read More
Self-Assessment Deadline for 2014
If you are self-employed the self assessment deadline for 2013 is fast approaching. If you run your own business, it can be very difficult finding the time to complete your accounts on time and filing the documentation to HMRC. For the year ending 5th April 2013, the deadline date is 31st January 2014. Even if Read More
Accounts Portal Software Review
I am always asked by people what is the best accounts package to use? The answer can vary from one customer to another depending on their requirements. The Accounts Portal software review is based on requirements from one of my customers and trying to find different software suitable for them. The customer requirements were that Read More