by Angela Taffs | Jul 2, 2024 | General news, Starting a Business
What is cash basis accounting? Under cash basis accounting, an individual carrying on a trade may currently elect to calculate their profits on a ‘cash in, cash out’ basis rather than using the traditional accruals method of accounting. This method ignores any bills...
by Admin | Jun 7, 2024 | General news, HMRC, Self assessment, Starting a Business
The Risks of Tax Evasion When Self-Employed Within the self-employment sector in the UK, some individuals are tempted to underreport their profits for tax evasion purposes. This practice may appear attractive for short-term gains but can have significant long-term...
by Admin | Feb 19, 2024 | Bookkeeping, Business Advice and Tax, General news, Starting a Business
Accounting errors and how to avoid them Accounting errors are all too frequent which can have a detrimental impact upon any business. From incorrect financial statements affecting business decisions to penalties from HMRC, errors must be avoided at all costs. Below,...
by Admin | Jan 4, 2024 | Business Advice and Tax, HMRC, Personal and Inheritance Tax, Self assessment, Starting a Business
Have you paid your tax liability for the year ended 5 April 2023? This a reminder that any unpaid Self-Assessment tax for the year ended 5 April 2023 is due by 31 January 2024. If your total liability was over £1,000, the amount due will also include a payment on...
by Admin | Sep 5, 2023 | General news, Starting a Business
North Devon Business Support Are you in North Devon and thinking of starting a business? Are you unsure of some aspects, such as whether to start as a sole trader or incorporate as a limited company? Would you like startup business support and advice on pricing and...
by Admin | Feb 3, 2023 | Business Advice and Tax, General news, Starting a Business
Let’s rephrase that. It’s not a question of what does an accountant do, but what does a good accountant do. And how do you know if your accountant is good enough? Is your accountant doing enough for you? Like many businesses, your accountant will by now have submitted...
