We are a Silver Partner with Xero!
We make no secret that we love Xero here at Flamingo Accounting! And we are also happy to continue as a Silver Partner with them. Our team of Certified Xero Advisers have been using and implementing this software for years and believe…
Top Ten Things to consider when choosing a new accountant
Whenever potential new clients approach us, it is often because they are not happy with their existing accountant, or because they are a new business and don’t know how to select an appropriate one that will suit them…
Do I have to pay tax on my cryptocurrency gains?
Do I have to pay tax on my cryptocurrency gains? Cryptocurrency, particularly Bitcoin, have risen in prominence over the last few years – with companies like Telsa accepting them as payment and countries like China banning them outright. …
Don’t be caught out by payments on account for personal tax – know what you need to pay!
What are payments on account? And who has to make them? So many business owners get caught out by payments on account, particularly in their first year of trading. When you become self employed, most of, if not…
How to stay on top of your emails
Ever feel overwhelmed by the amount of emails your receive in your inbox? You spend all day replying to them but at the end of the day you still have more than when you started? That needs to…
Cash and profit are not the same thing – forgetting that can cost you dearly
The vast majority of businesses, particularly those in their early stages, go bankrupt through lack of cash, not from lack of profits. However, many business owners don’t truly understand the difference between having cash and having profit, and…
Top ten bookkeeping mistakes and how to avoid them
Here are our Top 10 mistakes that people make when doing their own bookkeeping: Letting it all build up This seems obvious, but some people still leave everything to the very last minute and let the bookkeeping build up. …
What’s the difference between a realised gain and an unrealised gain?
Many businesses deal in more than one currency these days, both buying and selling, and this results in realised or unrealised gains or losses in their accounts. But what is the difference between realised and unrealised, and how…
What can HMRC find out about you?
What can HMRC find out about you? You’ll probably be surprised to find out it’s a lot more than you think. When meeting potential new clients we often hear “Well, HMRC won’t find out about that” – and…
COMPANY VS SOLE TRADER: BENEFITS AND DRAWBACKS
Should you be a sole trader or a company? We are often asked that question when people are setting up in business, and the truth is it depends on the individual scenario and what you are looking to…