Blog
Tax and Accounting News, Information for Small Businesses
Why I Hate Being Called a Bookkeeper, Volume 2: The Mundane Everyday
It’s possible that maybe some very bored bookkeepers ONLY do spend all their days looking at what’s coming in and out of a business. Crikey, that sounds mind-numbingly boring. I do deal with everyday transactions - but it’s by far the very minimum of what I do. And if that’s ALL I did, I’d be carted off to some sort of institution pretty quickly.
Why I Hate Being Called a Bookkeeper
I have a problem with the 'bookkeeper' title. People view bookkeepers as the less capable younger sibling to their high-flying accountant relatives. Times have changed my friends.
Coming in 2024 - Making Tax Digital for Income Tax and Self-Assessment (MTD for ITSA)
This is a bit of a biggie. From 6th April 2024, anyone with combined self-employed income (not profit) over £10,000 will need to comply with HMRC’s new MTD for ITSA tax scheme.
New Resources Page!
I've had a bit of a blogging lull over the last month. There was the rush of the tax returns at the end of January - and then I went a got pneumonia which knocked me for six, to put it mildly. I'm starting to recover now, so I've jumped straight back on the Ammonite horse and have create a new page for the website.
Self Assessment for Small Businesses and the Self-Employed
Every time I heard that "self-assessment - tax doesn't have to be taxing" tagline on the HMRC adverts - I wanted to scream. Not only was that ad REALLY annoying, but self-assessment IS taxing! Its hard work. The maths itself is pretty straight forward. But gathering all the information you need, leaving out information you don't need, sticking to all the deadlines, even signing up with HMRC...it's not straightforward! So I really hope this little guide helps, and I will be posting additional, more in-depth information in the future.
Which Tax Return is for You?
Yes, unfortunately all self-employed individuals, businesses, partners in LLP's, company directors, higher-rate tax payers earning over £100k, and some others do need to complete a tax return. If this doesn't happen, HMRC can issue fines, penalties and interest. The question is, which tax return is the one for you?
Bookkeeping in the Digital Age
Well, ok, it has been the digital age for quite a while - but the exponential growth of online retail and employment opportunities for small businesses and freelancers, and the fact that almost everyone in the developed world now seems to have a smartphone, means that the management of our finances really has to catch up.
In case you were wondering
Taking care of all of your day-to-day accounting needs, freeing up time for the more important things in your life. Our immediate local service area is Orpington, Bromley and all surrounding areas (Petts Wood, West Wickham, Beckenham, Chelsfield, Hayes, etc). However, we are pioneering Cloud bookkeeping - so we're really available to anyone with a computer and internet connection!