Claiming expenses – the ‘wholly and exclusively’ concept
We are often asked by our clients what expenses are allowable and which are not for tax purposes. Unfortunately, there is no comprehensive or definitive list of what is or what isn’t claimable as each business is different,…
How to stay on top of your emails
Ever feel overwhelmed by the amount of emails your receive into 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…
How to improve your business cash flow
When inflation rises and businesses are faced with increasing costs, cash flow can become a problem. There is more going out than coming in – but that cannot carry on forever. Most businesses that go bust do so…
Do I have to pay tax on my crypto 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. Their value has risen, fallen and risen again, but investors…
Do you need to charge VAT on recharged expenses?
Clients often ask us if they need to charge VAT on the expenses that they recharge onto their own customers. The simple answer is yes, you charge VAT if you benefit from the expense, and no, you don’t charge if…
Information to keep for your personal tax return
The 2023/24 tax year ended on 5th April 2024, for which many of us will need to produce and file a personal tax return . To make things easier, here is our list of the information you need…
Top Ten bookkeeping mistakes (and how to avoid them)
Here are our Top 10 Bookkeeping mistakes and how to avoid them This seems obvious, but there are people still leave everything to the last minute and let the bookkeeping build up. We know you didn’t go into business…
The Top Ten Things to consider when choosing your 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 choose one that will suit them and their…
What’s the difference between mark up and margin?
When pricing your services and products it is important that you do so in order to make a profit. Most businesses will look at either mark up or margin to come up with their prices but not everyone…
We are Certified Xero Advisors!
Once again, we have re-certified as Xero Advisors! Having first taken the course and passed the tests over a decade ago and continued to do so ever since, we have once again re-certified as Xero approved official Advisors.…