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...]

Should I hire a bookkeeper for my small business?

What does a bookkeeper do - and do you need one? Small businesses are run by people with a big passion, huge commitment and a dedication to what they love. Frequently, that passion doesn’t additionally extend to the everyday details and commitments required to stay on top of the books! If you’re not a fan of financials, or you’re just swamped with the day-to-day of running your business, … [Read more...]