Why small businesses need to use cloud bookkeeping?
Luckily, we do not have many clients that are still using spreadsheets for recording their business transactions but we have a few. Technology has moved on and nowadays it is really easy to record your business transactions and it’s far easier than going back and entering everything on to a spreadsheet Today you can use […]
How do I get a tax rebate?
As a taxpayer in the UK, you may be entitled to claim tax back if you have paid too much tax or if you have not used all of your tax-free allowance. This guide will provide you with a step-by-step process to help you claim your tax back in the UK. Introduction to Claiming Tax […]
Why Small Business Owners Need A Professional Accountant
As a small business owner, one of the most important decisions you will make is choosing who will handle your finances. While some entrepreneurs may try to handle their accounting themselves, it’s often better to hire a professional accountant. In this article, I will explain why hiring a small business accountant is important and how […]
Get your tax affairs in order from day 1
HMRC mistakes happen and the tax code really is not logical in many instances. Tax evasion is taken very seriously by HMRC and criminal proceedings can follow. Aggressive tax avoidence is also not allowable as well and HMRC can go back retrospectively. The penalty regime in many cases is extremely harsh for late filings and […]
Do I have to fill out a self-assessment Return
I was met a new client last week and they didn’t realise that they needed to fill out a self-assessment return HMRC had not approached them or asked them to submit one. They were completely oblivious to the fact that they should have been completing a return for the last few years. Not only that […]
Build a better business – Collect Your Debts
You wouldn’t believe how common a problem this is. It maybe that once the sale is made you move on to the next sale and also many people find collecting debts a distasteful exercise and so don’t prioritise it. Remember A SALE IS WORTHLESS UNTIL THE MONEY’S COMES IN! There are many businesses that run […]
Build a better business – Know How Much Profit You Are Making
Many businesses do not have adequate systems for identifying the amounts of profit or loss generated by different products and services, or even by the business as a whole, yet this information is absolutely essential if the business is to grow stronger. It is also important to know the costs of different areas of administration, […]
Build a better business – Keep proper financial records
Ignore this at you peril. In many cases it is a legal requirement to keep adequate accounting records and you could find yourself on the end of a hefty fine from HMRC if you don’t. The vast majority of businesses that fail didn’t keep proper financial records. Equally important is a business owners’ ability to […]
Build a better business – Cash is King – Sources of funds
Disclaimer: Paul Stankiewicz is the owner and principal at Paul Marks & Co Chartered Accountants which is the trading name of Paul Marks Ltd a Limited Company registered in England and Wales (registered number 4487645).This article is designed for the information of readers only and is the opinion of the author only. Readers should not […]
Build a better business – Have a plan
Fail to plan, plan to fail. All new business require a well thought out business plan and goals backed up by budgets, forecasts, projections, and a road map of how they are going to get there. Invariably these plans will have market research, competitor analysis, profit forecasts, and cash flow projections. If you don’t know […]
