What happens if I make a mistake on my tax return?

It’s that time of year when, for many small business owners, self-employed professionals and more, the impending deadline of the tax return looms large and heavy. It can be overwhelming for some, but it needn’t set you into a panic. The main thing to remember is to file it. If you’ve been informed that you need to file a self-assessment tax return, then you must file it - even if there is no tax … [Read more...]

Exporting tips for small businesses

When looking ahead to the new year, small business owners might want to dream big and look further afield to exporting. There are tremendous advantages to exporting; however it can be a minefield for first time exporters and small businesses.  Where do you start when you’re thinking about exporting? Peter Stamps, founder of FD Business gives his advice and shares some tips for small businesses … [Read more...]

Writing a flexible business plan

Business planning is an often underrated and misunderstood task. For some, it can seem daunting and feel a little like having to do your homework. But tackled with positivity and the right support, a business plan can be a helpful guiding tool for business growth and success. It’s rare that any small business starts with a clear business plan, typed up and laminated on the office wall. … [Read more...]

Should I use simplified cash basis?

Financial reporting for small businesses can feel like a burden. If you’re running your own accounts, then even more so. There are several ways that small business owners can make the daunting more manageable… In this blog, we take a look at the basics of the cash basis system and outline the key factors determining if it’s the right option for your business. What is the simplified cash … [Read more...]

Top 5 Cloud Accounting Questions

Cloud-based accountancy packages are better than ever, with good value options and up-to-date, easy to use software. All you need to make business accounting easier than ever, is advice on where to start and someone to recommend the best for you and your business. So here goes… Cloud accounting and digital accountancy packages can seem like a futuristic administrative nightmare - daunting, … [Read more...]

Bookkeeping basics for your small business

Running your small business is a big job. Whether or not you have one or two team-members, or you’re a sole operator, there are myriad tasks to be done every day, just to keep your business running. Admin - especially financial admin - can often get pushed to the bottom of the to do list and can add unwelcome pressure. In this blog post I’ll be looking at the basics of bookkeeping and outlining … [Read more...]