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The dividend tax and NIC hike of 1.25% have hit the tax and accounting aspect of many employees, small business owners, and self-employed. As a matter of fact, one employee’s living wage would cost an extra 200 Euros per year, and if the number of employees is considerable, the sum would add up to a… Continue reading How can small businesses adjust to NIC and dividend tax changes?
Every small business accounting service is in diligent need of schemes that would allow businesses to get paid on time! When the payments are made adequately on time, it ensures better financial management and money flow. There are many ways in which companies can boost their payment processes to ensure stable financial management. It becomes… Continue reading How to get paid on time? Tips for accounts receivable
The ongoing variants of the virus have made the small business accounting world very unpredictable of the various contours and landscapes that fall into the limelight. Finances hold a very significant value in the functioning of all businesses. The organization whose finances are accurate, precise and well-managed always thrives. There have been various attempts to… Continue reading Signals of business change: Trends and Challenges in 2022
The word outsourcing has become a very common term in today’s world, where it becomes hard to imagine a world uncomprehending that. Outsourcing started as an economic movement as a result of capitalism’s evolving nature that soon became a cultural phenomenon uniting the whole globe. Despite the xenophobic displays of our worst personality trait, contradicting… Continue reading The History of Outsourcing: From Carpenters to accountants
Expense management in small business accounting services is such a task that it can be the best piece of the chore, but it can be the worst nightmare when taken for granted. The problem can increase to exponential times where there’s an in-house team of accountants working under you. In a large business firm, managing… Continue reading Tips to improve expense management in your business
The inflation rate in the British economy in the month of November was 5.1%. The expected increase for December was 5.2%, but the limits surpassed when the inflation rate rose to 5.4% in December, which is the highest in almost three decades. This has resulted in immense pressure on the bank of England to raise… Continue reading UK inflation rises to highest in nearly 30 years
The government’s decision to increase the national insurance and the dividend tax has had much controversy paving the way for more precise tax and accounting services. While there has been much going around with the impact of the decision on workers, the changes have a lot to do with employers costs as well. First, let’s… Continue reading What does the NIC and dividend tax hike mean for your business?
In a small business accounting environment, two things hold major accountability: income and expenses. While there’s a bound taxation scheme for incomes, there are expenses where businesses in the UK need to oblige the tax rules. What is a business expense? When simply put, business expenses are an outflow of resources that are put out… Continue reading Which business expenses are tax-deductible in the UK?
A very integral aspect of a smooth functioning business is the maintenance of liquidity. Accounts Receivable has been a very common subject for many dealing in various aspects of financial accounts, but there are different other kinds of receivables having significant importance. Notes receivable is one such type that is used for multiple purposes holding… Continue reading What is the difference between Notes Receivable and Accounts Receivable?
The tax deadline is 31st January that is looming, and HMRC has precisely stated that crypto holders will have a notable share. So, now is the time to gear up for a self-assessment tax return. Crypto holders have been receiving nudge letters around the UK where HMRC has clearly stated that Crypto holders need to… Continue reading UK Crypto Tax Prep: Save Tax in January
Explore small business finance options: Fast track your goals with multiple finance options Are you looking for finance options to finally kick-start your small scale business? Well, facing trouble in finding the best source of investment for your small business can be a daunting task. But, not anymore! Let’s take you through multiple options to… Continue reading Best finance option for your small business
When compared to other industries, the real estate business needs special expertise due to the dynamic structure. At the same time, effective accounting is a very functional need for all real estate businesses. A Real Estate business operates on hectic grounds. Thus, a need for expert accountants, software and tools or an efficient accounting outsourcing… Continue reading Best Accounting Softwares for Real Estate Business
Surveys conducted across the globe have revealed that almost 85% of companies outsource at least one task, and outsourcing tax and accounting services are the most common ones amongst all. What is outsourcing? Outsourcing is the process of handing over an entire curriculum of a specific area of work to another organisation to reduce costs… Continue reading Benefits of outsourcing your accounting and bookkeeping services
With Accounts Payable, a resonating fact persists: the longer you take to process an invoice, the higher the cost is affecting the firm’s pocket in the most unwanted manner. Mistakes in accounts payable can lead to: Inefficient handling of accounts payable can push the firm into various unwanted circumstances that can end up feeling like… Continue reading Accounts Payable risks faced by businesses: Ways to mitigate them
The coronavirus pandemic brought the world to a standstill, especially business. The global economy saw a drifting downfall due to multiple reasons. Now that the economy is gradually recovering, the businesses are slowly getting back onto their feet. This is a great sign for companies patiently waiting for a positive change. The recession phase that… Continue reading 4 best practices to optimise your accounts receivable process post covid
Payroll is an extremely time-consuming process; anyone doing it for quite some time now can understand that well! That’s a primary reason why companies need to ensure an efficient functioning payroll system that is precisely accurate. And if efficiency in the task isn’t maintained, one can end up spending extra hours trying to correct errors. … Continue reading How do payroll outsourcing services work?
2021 was a roller coaster year for all financial and business matters. The unforgiving second wave of the viral infection, the struggling companies and the coping laws; everything seemed to experience a shift to adjust well with the situation. Nevertheless, it’s a new year and a new beginning. Having optimism in thoughts and focusing on… Continue reading Taxation in the UK: Important dates for 2022
The staunch support of Accounts Payable automation has made the accounting world gawk over the technology with a lot of expectations. We have discussed the significance of digitized accounting operations in our previous blogs, and it seems like the elaboration isn’t close to any conclusion. The possibility of gaining numerous benefits and adapting best practices… Continue reading Top 4 Accounts Payable Automation Software in 2022
What new skills do accounting professionals need in today’s world? Digital transformations have long been a part of our daily lives, but they gained more attention during the pandemic, and people embraced the digital transition. The coronavirus outbreak hastened this requirement since individuals and small business accounting services have become more interested in the practice.… Continue reading What new skills do accounting professionals need in today’s world?
The Covid19 pandemic has accelerated the digital transformation of SMEs across the country. During the pandemic, virtual bookkeeping companies support has become an important factor in business survival and business success. SMEs face challenges and follow a digital-first approach. You’re jumping to digital, responding to changing consumer behaviour and expectations, adapting to new work standards,… Continue reading Digitalised methods that pave the way for virtual bookkeeping companies success
