Lead #2036

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Find out more about our team members below, and come and say hello if you see us out and about. Chris Vickers and Angus Parkers Chris is the Director and founder of SQK accountancy. He is a fully qualified Accountant; and started SQK in 2015 as he saw there was a gap in the market for an approachable, young, accountancy team to help small and micro-businesses to get started. He also helps small businesses to understand the ever so slightly confusing tax system! Chris has close links with the business community in Manchester, and has partnerships with a variety of business support services. He can often be found working in Use.Space When he is not working, he is interested all things nerdy including playing board games and drinking good quality ale where ever it can be found in Manchester (though not always at the same time). Angus is the chief of relaxation and distractions from work alongside being the family member of Chris. He enjoys eating everything within sight (with a particular taste for rugs) and loves to meet new people. Joe Hayes Joe is a Manager who has been part of the team since February 2020 Joe is a Senior Accountant who possesses a strong grasp of multiple branches of Accountancy. His technical knowledge and extensive experience help ease the transition for new clients looking to develop their own financial system. He is passionate about helping start-ups grow to the best of their ability. In his spare time, he can be found hunched over a good book and is particularly fond of travelling. Chantelle Norcross Chantelle is a Senior Accountant and joined the team in early 2021. She comes from a contractor background so is excited to expand her knowledge with the variety of clients at SQK. She is ready to start her professional qualifications, with the goal of reaching a chartered status within the next few years. In her own time, she enjoys socialising with friends and binge watching tv shows. Arminda Correia Arminda joined SQK Accountancy as a Payroll Assistant and bookkeeper in August 2022. She handles most of the payrolls and She also performs some monthly bookkeeping activities. She plans to start her AAT Level 4 soon with the goal of reaching a full AAT accountant qualification. Outside work, she enjoys spending quality time with her family as she is a mother of three kids. Sam Hodkinson Sam joined SQK Accountancy as an Assistant Accountant Apprentice in October 2022 and is now a Semi-Senior Accountant. Sam has completed his AAT qualification and is currently working towards chartered status. He enjoys working with clients and has experience in the accounts process from start to finish. Outside of work he enjoys travelling and going to the gym. Chris Twell Chris has joined as an apprentice and is working to achieve his level 3 in AAT. He enjoys learning new skills both on the job and through his studies. He is currently learning how to handle everything from wages to annual accounts. Outside of work he enjoys football, golf and spending time with his family and friends. Read the lastest accountancy articles FOR SMALL BUSINESSES Cloud Accounting Benefits for Small Businesses Managing your business finances might not be the most exciting part of running your own company, but it’s one of the most important. Whether you’re just getting started or you’ve been in business for a while, staying on top of your books can feel like... November 12, 2025 Tax Changes in 2026: What You Need to Know About Making Tax Digital Let’s be honest, when you hear the words “tax changes,” your brain probably starts to switch off. We get it. You’ve already got enough on your plate running your business. But there’s a big change coming in April 2026 that you really can’t afford to... November 5, 2025 Could You Have Paid Too Much Tax? When you’re running your own business, tax can feel like one of those things you just want to get out of the way. You file your return, make the payments, and hope it’s all correct. But what if you’ve actually paid too much tax without... October 29, 2025 Business Record Keeping: What to Keep and For How Long When you run a business, you hear a lot about the importance of keeping records and paperwork. We know what you’re thinking. “Surely I don’t need to keep every single receipt, do I?” Business record keeping isn’t the most glamorous part of running your business,... October 22, 2025 Onboarding Your First Employee: A Step-by-Step Guide Onboarding your first employee is a big milestone. It usually means your business is growing, you’re getting busier, and it’s time for some much-needed help. But the process of bringing someone on board can feel overwhelming, especially when it’s all brand new. We’re here to... October 15, 2025 Hiring Your First Employee? Here’s What You Need to Know Bringing someone new into your business is a big moment. It usually means you’re growing and need more hands on deck, which is a fantastic sign of progress. But before you dive into hiring your first employee, there are a few things to consider to... October 8, 2025 Changing Your Company Year End Date? Here’s What You Need to Know Running a business means keeping an eye on your finances all year round, but your company’s official financial year doesn’t always line up neatly with how you actually trade or plan. If your current year end doesn’t work for you anymore, you might be wondering... October 1, 2025 Should You Change from Sole Trader to LLP? When you’re running a business on your own, setting up as a sole trader is often the simplest and quickest route. You’ve got full control, less paperwork, and you can get going straight away. But as your business grows, things might start to feel a... September 24, 2025 Hidden Costs of Running a Small Business: What to Watch Out For When you’re running a small business or working as a sole trader, every penny matters. You know your turnover, you check your bank balance regularly, and you’ve got a rough idea of your biggest outgoings (we hope). But what about the ones that creep in... September 17, 2025 How To Organise Your Business Receipts: Take Charge of The Chaos If you’re running a small business or working as a sole trader, you’re probably juggling a lot and organising your business receipts might be one of the balls you are dropping (we presume so if you are reading this blog). But we’re not judging, in... September 10, 2025 Basic Bookkeeping: A Small Business Owner’s Guide If you’re running a small business or working for yourself, you’ve probably already discovered that there’s more to it than doing the job you love. There’s admin, emails, chasing payments… and yes, bookkeeping. We know it’s not the most exciting part of your day. But... September 3, 2025 How to Separate Personal and Business Finances (Without the Stress) When you’re running a small business or working for yourself, it’s easy for personal and business finances to start blending together. One minute you’re buying a coffee with your personal card, the next you’re paying a supplier from your personal bank account. It feels quicker... August 27, 2025 Salary or Dividends: What Should you Pay Yourself? When you’re running your own business, one of the big decisions you’ll face is how to pay yourself. Should you pay yourself a salary or dividends, or a mix of the two? It might sound like a technical choice, but it can make a real... August 20, 2025 5 Tips To Protect Yourself From Late Payments. If you’ve had clients running late on invoices, you’re not alone. In fact, a survey has found that 77 per cent of SMEs are owed money from late payments. Late payments cause delays to your cash flow, make planning harder, and can cause financial stress... August 13, 2025 Late Payment Protection – Support For Small Businesses Every day, dozens of small businesses close because they aren’t paid on time. That’s set to change. The government is preparing tough reforms to make sure small firms are treated more fairly and are protected from the devastation that comes from consistent late payment. In... August 6, 2025 Why Online Payroll Makes Life Easier If you’re juggling clients, invoices, and marketing, the last thing you need is payroll taking up hours every month. That’s where online payroll steps in. SQK is here to show how switching to an online payroll service can reduce stress, cut errors, and give you... July 30, 2025 Starting a Business? Here’s What You Need to Know So, you’re thinking about starting a business? First off, congratulations! Whether you’re going solo or launching a small venture, getting your business off the ground is a big (and exciting) step. At SQK, we know there’s a lot to think about. From registrations to finances,... July 23, 2025 How to Build a Flexible Business Strategy to Grow and Scale When you run a small business or operate as a sole trader, success often depends on your ability to change with the times. Building a flexible business strategy ensures you’re ready to adapt when markets shift, costs fluctuate, or new opportunities arise. Here’s how to... July 16, 2025 Managing Your Own Business Accounts? Outsourcing Could Be The Key When you’re running a small business or working as a sole trader, it’s tempting to keep everything in-house, including managing your own business accounts. After all, who knows your business better than you? And how hard can it be to keep track of your income... July 9, 2025 Payment on Account: Are You Prepared For The Deadline? If you’re self-employed or running your own small business, this is your friendly reminder to check to see if you need to make a second payment on account (POA) by the 31st July 2025. It’s one of those dates that can sneak up if you’re... July 2, 2025 How to Find a Good Accountant for Your Small Business Finding the right accountant is one of the best things you can do for your business. A great accountant saves you time, helps you avoid costly mistakes, and becomes a trusted part of your team. But how can you make sure you pick a good... June 25, 2025 Making Tax Digital: It’s Time to Prepare, Are You Compliant? If you’re a sole trader or small business owner with self-employment or property income, you must start preparing now for Making Tax Digital (MTD). This isn’t something you can leave until the last minute—HMRC is tightening the rules, and non-compliance could cost you big. Making... June 18, 2025 Messy Bookkeeping: 7 Steps To Take For A Stress Free Tidy-up Running a small business is incredibly rewarding. However, it is also incredibly busy. You are juggling a hundred things at once. Because of this, sometimes your bookkeeping isn’t as slick as it could be and you end up with messy bookeeping that is a nightmare... June 11, 2025 Cash and Accrual Accounting: What Difference and Why It Matters. If you’re running a small business, you’ve likely come across the terms cash accounting and accrual accounting — and wondered what on earth they actually mean. Don’t worry, you’re not alone. Most business owners don’t start out as accountants, and with so many financial terms... June 4, 2025 Bookkeeper and an Accountant: What’s the Difference? If you’re a small business owner, you’ve probably asked yourself this at some point: “Do I need a bookkeeper, an accountant, or both?” It’s a fair question — and one that confuses many business owners. After all, both deal with your finances, right? But while... May 28, 2025 Can You Use an ISA for Business? Here’s What You Need to Know If you run your own business, you’ll likely be thinking about how to grow your money — both for the business and for yourself personally. One option many people turn to is the ISA (Individual Savings Account). But can you use an ISA for business?... May 21, 2025 Charity VAT: What Every Non-Profit Needs to Know VAT rules can be confusing at the best of times. If you’re running a charity, you’ve probably wondered how charity VAT rules apply to you — or if they apply at all. The answer? It depends on what you do, how you earn income, and... May 14, 2025 How To Manage Difficult Customers And When To Say Goodbye Dealing with difficult customers is an inevitable part of running a small business or working as a sole trader. While most clients are a pleasure to work with, some can pose challenges that impact not only your peace of mind but also your financial health.... May 7, 2025 Manage Income Fluctuations With These 5 Super Stratagies Managing income fluctuations is one of the biggest challenges small business owners and sole traders face. When cash flow becomes unpredictable, it can quickly make paying bills difficult, slow down your plans for growth, and even affect your ability to take a salary. The good... April 30, 2025 Bookkeeping for Self-Employed: Weekly Check-Ins Make Tax Time Easier Running your own business means wearing a lot of hats—salesperson, customer service, admin, even cleaner some days. However, you can’t afford to ignore your “finance” hat. As a self-employed person, you must manage your bookkeeping as carefully as the work that brings in income. That’s... April 23, 2025 Wills for Business? Why Every Business Owner Needs One When most people think of a will, they think of personal belongings or property. But if you’re self-employed or run a business, having wills for your business is just as important—if not more so. Without a plan, your business could be left in legal limbo,... April 16, 2025 3 Marriage Tax Allowance Strategies To Improve Your Income Every penny counts when you’re self-employed or running a small business. One often-overlooked way to legally increase your household income is by using the Marriage Tax Allowance. Many small business owners don’t realise they qualify, and that’s money left on the table. In this blog,... April 9, 2025 Business Expenses for Self Employed: Surprising Deductions and Common Mistakes When you’re self-employed, every penny counts. One of the smartest ways to keep your tax bill down is to make the most of business expenses for self employed people. These are the costs you incur while running your business — and claiming them can reduce... April 2, 2025 Tackle The NIC Increase With 3 Winning Business Strategies Starting April 6, 2025, businesses will face a notable NIC increase (National Insurance Contributions) from 13.8% to 15%, with the earnings threshold reduced from £9,100 to £5,000. In other words, employers will pay NIC on more of each employee’s earnings at a higher rate, raising... March 26, 2025 Essential End-of-Year Tax Planning Strategies for Small Businesses As the end of the tax year nears, strategic tax planning becomes crucial for small business owners aiming to optimize financial efficiency and ensure compliance. This comprehensive guide explores essential strategies and considerations to help you navigate the complexities of end-of-year tax planning. Understanding End-of-Year... March 19, 2025 New Statutory Sick Pay Regulations: A Guide for Business Owners As a business owner, it’s crucial to understand and adapt to changes in statutory regulations. This way you ensure compliance and maintain a supportive work environment. The recent adjustments to the Statutory Sick Pay (SSP) system aim to provide clearer and more supportive frameworks for... March 12, 2025 Minimise Tax Liability With These 6 Strategic Planning Methods As the tax year draws to a close on April 5th, it’s crucial for small business owners to consider strategic tax planning. Minimising tax liability not only complies with legal obligations but also enhances financial efficiency. This guide delves into several practical strategies that small... March 5, 2025 The Construction Industry Scheme: Who Needs To Register and Why? The Construction Industry Scheme (CIS) is a pivotal tax deduction scheme in the construction sector, which governs how payments to subcontractors for construction work must be handled by contractors. Understanding whether your business needs to register, and how to manage this process, is crucial for... February 26, 2025 5 Key Questions to Ask Before Hiring an Accounting Firm Selecting the right accounting firm is pivotal for the financial health of your small business. When hiring an accounting firm, the decision should extend beyond surface factors like cost or proximity. This blog discusses crucial questions to ask when hiring an accounting firm and why... February 19, 2025 6 Money Saving Accounting Tips for Small Business Owners Running a small business efficiently involves managing your finances with precision and foresight. Below are our top 6 money saving accounting tips that can help small business owners like you save both time and money, enhancing overall financial management and stability. Our 6 Money Saving... February 12, 2025 Cash Flow Management Mastery in 7 Steps Managing cash flow effectively poses a unique challenge for seasonal businesses, where income fluctuates significantly throughout the year. Understanding how to navigate these ups and downs is crucial to maintaining financial stability and ensuring business continuity. Here are practical strategies to help you optimise cash... February 5, 2025 Tax Saving Tips: 3 Strategic Ways to Reduce Your Tax Bill Navigating tax responsibilities can be complex, but with the right strategies, you can effectively reduce your liabilities. This blog outlines three lesser-known but effective ways to save on taxes, tailored specifically for small business owners. Understanding and implementing these tax saving tips for small business... January 29, 2025 Self-Assessment for New Firms: Master Your Taxes & Avoid Common Pitfalls Starting a new firm is an exciting journey, but it also introduces several responsibilities, including managing your tax affairs through self-assessment. Many new business owners find this process daunting. This blog discusses the common challenges and mistakes associated with self-assessment for new firms, offers solutions,... January 22, 2025 Navigating HMRC Tax Rules for Sole Traders Being self-employed as a sole trader means taking on various responsibilities, with tax management at the forefront. Understanding HMRC’s tax rules is crucial for compliance and financial planning. This guide delves into HMRC tax rules for sole traders. We’ll cover everything you need to know... January 16, 2025 HMRC Audit Why Your Small Business Might Get One: Key Triggers and Preparation Tips Dealing with an HMRC audit can be a daunting prospect for any small business owner. Understanding why audits are conducted and how you can prepare for them is crucial in ensuring that your business remains compliant and avoids potential penalties. This blog will guide you... January 8, 2025 New Year, New Business: Discover Why Outsourcing Your Accounting Makes Sense The start of a new year often brings reflections and resolutions, not just personally but also for your business. If you’re a small business owner, one of the strategic decisions you might consider is outsourcing your accounting. This move can streamline your operations, save costs,... January 1, 2025 Understanding the Critical Difference Between Bookkeeping and Accounting Navigating the financial management of a business involves understanding many critical components, among which bookkeeping and accounting are fundamental. Although these terms are often used interchangeably, they encompass distinct processes and serve different functions within a business. This blog highlights the differences between bookkeeping and... December 18, 2024 Tax-Deductible Expenses Mastery to Maximise Savings The complexities of what classes as tax-deductible expenses can be a daunting task for self-employed individuals. Understanding what qualifies as a deductible expense and how to calculate certain costs, such as gas and electricity if working from home, is essential for maximising your tax return.... December 11, 2024 Unexpected Tax Bill Statement? Take These Proactive Steps Receiving an unexpected tax bill from HM Revenue and Customs (HMRC) can unsettle any small business owner. Such events may lead to financial strain if not addressed promptly and effectively. This guide provides a structured approach to dealing with an unexpected tax bill, ensuring you... December 4, 2024 Weighing the Benefits: Should Your Business Hire an External Accounting Firm? Deciding whether to hire an external accounting firm is a significant decision for any business owner. While the internal team may handle daily financial tasks, the complexities of financial reporting, tax compliance, and strategic financial planning often require specialist knowledge. This blog examines the pros... November 27, 2024 Inheritance Tax Planning: Essential Strategies for Small Business Owners The recent changes to Inheritance Tax (IHT) announced in the 2024 Autumn budget have significant implications for small business owners, particularly those involved in farming. These changes mainly revolve around modifications to Agricultural Property Relief (APR) and Business Property Relief (BPR), aiming to target these... November 20, 2024 How to Pay Yourself as a Business Owner: Strategies for Tax Efficiency Deciding how to pay yourself as a business owner is more than a mere reward for your hard work; it’s a strategic decision that impacts your personal finances and the financial health of your business. This guide outlines the best practices for drawing an income... November 13, 2024 Balance Sheet 101: Mastering Financial Statements for Success One of the most crucial tools in financial management is the balance sheet. This blog will explore what a balance sheet is, its importance, and how small business owners can correctly complete and file this vital document. What is a Balance Sheet? A balance sheet... November 6, 2024 Getting Small Business Accounting Right: Essential Tips and Tools Mastering the basics of small business accounting is crucial for maintaining the financial health of your business. Effective accounting not only helps in complying with legal requirements but also provides you with insights necessary for making informed business decisions. This blog will explore foundational accounting... October 30, 2024 Using VAT for Improved Cash Flow Understanding how to leverage VAT for improved cash flow is crucial for any small business. This guide delves into the strategies that can help you use VAT not just as a compliance measure, but as a tool to enhance your business’s financial health. Understanding VAT... October 23, 2024 Why VAT Registration Can Benefit Your Small Business Value Added Tax (VAT) might seem daunting for small business owners. However, understanding the benefits of VAT registration can shift your perspective. Even if it’s not mandatory, registering for VAT offers several advantages that can support your business’s growth and financial health. The Benefits of... October 16, 2024 VAT for Small Businesses: Everything You Need to Know Understanding VAT for small businesses in the UK is crucial for both compliance and financial health. This guide provides a deep dive into everything from VAT registration to effective management strategies. What is VAT for Small Businesses? Value Added Tax (VAT) Explained: The UK government... October 9, 2024 Understanding Small Business Taxes: A Guide for Business Owners Navigating the landscape of small business taxes in the UK might seem daunting, but understanding it is crucial for compliance and optimal financial management. Here’s a friendly guide to help you understand various taxes, why keeping accurate records is crucial, and what to do if... October 1, 2024 Essential Tips for Maintaining Accurate Financial Records Accurate financial record-keeping is crucial for any business, but it is especially critical for small businesses where resources are often limited, and financial agility is necessary. This guide will provide you with practical tips on how to keep accurate financial records as a small business,... September 24, 2024 How to Calculate Overtime Payments: A Guide for Employers Managing and calculating overtime can be complex, yet it’s crucial for businesses to handle it correctly to ensure compliance with employment laws and to maintain financial health. This guide provides employers with a comprehensive overview of calculating overtime, the importance of accuracy, and the potential... September 17, 2024 What Does a Small Business Accounting Firm Actually Do? Running a small business involves juggling various responsibilities, among which managing finances is crucial yet often challenging. This is where a small business accounting firm steps in, providing expert services tailored to streamline, enhance, and simplify your financial operations. Let’s explore what these firms do,... September 10, 2024 How to Change Your Financial Year-End Date Changing your company’s financial year-end date can be a strategic decision that may lead to significant advantages in terms of tax planning, cash flow management, and administrative convenience. This guide will walk you through the process of changing your year-end date and explain why it... September 3, 2024 7 Common Self-Assessment Tax Return Questions Answered Navigating Self-Assessment Tax Return Filing a self-assessment tax return can be a daunting task, especially for those who are new to the process. Whether you’re self-employed, a landlord, or earning additional income, understanding the ins and outs of self-assessment is crucial to avoid mistakes and... August 27, 2024 Top 8 Questions You Should Ask Your Accountant As a small business owner, you know that having a trusted accountant is vital for your business’s financial health. However, the value of your accountant goes beyond just number-crunching. Asking the right questions can help you make informed decisions, stay compliant with regulations, and ultimately,... August 20, 2024 Accurate Payroll Management for Small Businesses Why Payroll Management Matters Payroll is the lifeblood of any organisation, and getting it right is crucial for small businesses. In this blog post, we’ll delve into why accurate payroll management is so critical, the common mistakes business owners may make when handling payroll themselves,... August 13, 2024 How to Guide to Setting Up PAYE for a New Employee Employee PAYE Setup Essentials Hiring a new employee is an exciting milestone for any small business. However, it comes with a host of responsibilities, particularly in terms of accounting and legal requirements. One crucial aspect is setting up PAYE (Pay As You Earn) for your... August 6, 2024 Understanding VAT guidelines on Gifts, Benefits, and Entertaining Navigating the Value Added Tax (VAT) implications on gifts, benefits, and entertaining expenses can be a challenging aspect of tax compliance for UK businesses. Misunderstandings or mismanagement of the VAT guidelines can lead to unintended tax liabilities or missed opportunities for tax relief. This guide... July 30, 2024 5 Essential Steps for Payroll for Small Businesses. Payroll is often perceived as a daunting task for small business owners. Understanding the intricacies of payroll is essential not only for ensuring accurate payments to employees but also for adhering to legal requirements and avoiding costly penalties. This guide aims to simplify the payroll... July 22, 2024 8 Common Self-Employed Accounting Mistakes Being self-employed comes with a host of responsibilities, one of which is managing your own accounts. Without accounting experience, it’s easy to make mistakes that can cost you time and money. This blog will highlight some common self-employed accounting mistakes individuals make, why they are... July 15, 2024 Inherited Property? Avoid Capital Gains Tax for Business Owners For business owners, inherited property can introduce significant financial implications due to Capital Gains Tax (CGT). This tax can impact your financial planning and the overall growth trajectory of your business, especially when it intersects with your personal and business assets. Understanding how to manage... July 9, 2024 Optimising Tax Strategies: 5 Essential Tips to Maximise Returns Tax season can be a source of stress for many small business owners. However, with the right strategies in place, it’s possible to turn this annual chore into an opportunity to enhance your financial health. Optimising tax strategies isn’t just about compliance; it’s about making... July 2, 2024 Top 4 Best Cloud Accounting Software for Small Businesses Navigating the Best Cloud Accounting Software Options Over recent years, accountancy has seen significant changes in how the sector operates. Many clients and accountants have turned to online cloud-based accounting for its numerous benefits. From increased security to cost reductions and a more efficient way... July 1, 2024 Cloud Accounting Software Top 10 Benefits Revolutionise Your Business with Cloud Accounting Software Cloud accounting software has transformed how small businesses manage their finances. It offers numerous benefits that enhance efficiency and accuracy. This blog explores the top 10 benefits of using cloud accounting for your small business. The 10 Benefits... June 24, 2024 Financial Forecasting 7 Crucial Reasons it’s Vital The Importance of Financial Forecasting Financial forecasting is a critical tool for small businesses. It helps in planning, decision-making, and avoiding financial pitfalls. In this blog, we will explore seven reasons why financial forecasting is crucial for small businesses. 1. Plan for the Future Firstly,... June 17, 2024 Improve Cash Flow Management for Startups in 5 Effective Ways Boost Your Startup with Better Cash Flow Management Cash flow is vital for the survival and growth of startups. Without proper cash flow management, even profitable businesses can face financial difficulties. This blog explores five effective ways to improve cash flow management for startups. 1.... June 10, 2024 Mastering Corporation Tax Filing: The Ultimate Guide Corporation tax is a significant obligation for small businesses. Understanding and managing this tax is crucial. This blog offers a comprehensive guide to mastering corporation tax filing efficiently and accurately. Understanding Corporation Tax Corporation tax is a tax on the profits of limited companies. It... June 3, 2024 7 Accounting Tips Essential for Limited Company Financial Success Running a limited company can be rewarding. However, managing the finances is often challenging. This blog offers seven essential accounting tips for limited companies. Follow these tips to avoid costly mistakes and ensure financial stability. 7 Essential Accounting Tips 1. Separate Personal and Business Finances... May 27, 2024 5 Compelling Reasons Why Businesses Should Outsource Payroll Payroll management can be complex and time-consuming. For many small businesses, it’s a significant challenge. Outsourcing payroll offers a solution that can save time, reduce costs, and ensure compliance. This blog explores the key reasons why small businesses should outsource payroll. Why Outsource Payroll? 1.... May 20, 2024 Avoid These 7 Costly Accounting Mistakes Small Businesses Make Accounting is crucial for the success of any business. Yet, many small businesses struggle with it. Simple errors can lead to significant problems. This blog highlights common accounting mistakes small businesses tend to make and how to avoid them. Common Accounting Mistakes 1. Poor Record-Keeping... May 13, 2024 Navigating VAT Exempt Goods: A Guide for Small Business Owners For small business owners, understanding VAT exemptions can significantly impact financial management and pricing strategies. This blog explores the intricacies of VAT exempt goods, providing clear guidance to help you navigate this complex area of tax law. The Importance of Understanding VAT Exemptions Value Added... May 6, 2024 Financial Forecasting: Empowering Small Businesses Navigating the complexities of the business landscape requires more than intuition; it demands strategic planning and insight. Financial forecasting offers small businesses a roadmap to future growth and stability, allowing owners to anticipate changes, allocate resources efficiently, and secure funding more easily. This guide explores... April 29, 2024 Mastering Cash Flow Management: A Lifeline for Small Businesses Cash flow management is crucial for the health of any small business. It’s all about knowing when, where, and how your money is moving. This guide dives deep into why cash flow management is essential and how to do it right. Why Cash Flow Management... April 22, 2024 Navigating R&D Tax Credits for Small Businesses Innovation is the lifeblood of growth for small businesses. Yet, the financial burden of research and development can be substantial. Here is where R&D tax credits come into play, offering a significant opportunity to recoup some of these expenditures. This blog explores how small businesses... April 16, 2024 Small Business Accounting Essentials: A Comprehensive Guide For small business owners, mastering the art of accounting and bookkeeping is not just about keeping accurate records; it’s about laying a strong foundation for business growth and success. Understanding the intricacies of small business accounting can be the difference between merely surviving and thriving... April 15, 2024 Financial Record-Keeping: Your Guide to Success Far from a basic administrative task, diligent record-keeping is the cornerstone of accurate tax filing. Accurate records are a robust defence in audits, and a critical tool for financial analysis and decision-making. Embedding this practice into your daily operations ensures every transaction is meticulously recorded... April 8, 2024 Small Business Tax Strategy: Maximising Benefits Crafting a small business tax strategy is a crucial step toward financial optimisation and growth. It’s not just about fulfilling tax obligations; it’s about leveraging tax allowances and incentives to bolster your business’s bottom line. This guide explores how small businesses can navigate tax planning... April 1, 2024 Cash Flow Analysis: Key Things to Look Out For At the heart of financial management lies cash flow analysis. This is a critical tool that sheds light on the health of your business by revealing patterns, trends, and potential issues in your operations. By mastering cash flow analysis, you equip your business with the... March 25, 2024 Preparing for Minimum Wage Updates in April As the clock ticks towards April 2024, small business owners stand on the brink of a significant shift in the landscape of employee compensation. April will see Minimum Wage updates (National Minimum Wage) and National Living Wage (NLW) updates. If you employ staff it’s imperative... March 18, 2024 5 Financial Management Challenges in the Hospitality Sector The path to financial stability is often strewn with obstacles. These can undermine the prosperity of even the most flourishing ventures. This guide aims to shed light on five prevalent financial management challenges encountered by hospitality businesses. We provide insights to help you navigate these... March 14, 2024 Tax Planning for Small Businesses: Navigating the New Tax Year With the arrival of the new tax year on 6th April, it’s a pivotal time for tax planning for small businesses. This period usually marks the introduction of new tax regulations, adjustments in rates, and shifts in thresholds, all of which can significantly impact the... March 4, 2024 Accounting and Payroll Tools: The top 7 Managing accounting and payroll tasks efficiently is paramount for small businesses aiming for financial stability and growth. Fortunately, the digital age has ushered in a range of tools and apps for accounting and payroll. These tools and apps are tailored to streamline these processes, empowering... February 28, 2024 Revolutionise Your Finances: Embracing Technology for Success Staying on top of your finances is crucial for success. As a small business owner managing your accounts effectively can be challenging, but with the right tools and strategies, it’s entirely achievable. One key strategy? Embracing technology. In this blog post, we’ll discuss how leveraging... February 19, 2024 Reasons you should outsource your accounting. Managing finances can be a daunting task. Navigating through tax regulations, payroll, and financial reporting demands a level of expertise that can be challenging for business owners to handle on their own. This is where hiring a dedicated accountancy firm, and deciding to outsource your... February 12, 2024 Key Considerations when Hiring A Freelancer So, this year you have made the decision to give yourself a break from wearing all the hats in your business and are making steps to hiring a freelancer. The utilization of freelancers has become an integral aspect of many companies’ operations. The flexibility, expertise,... February 5, 2024 A Comprehensive Guide to Writing Business Plans A business plan is not just a document; it’s the strategic compass that guides your journey toward financial triumph. Crafting a compelling business plan involves meticulous planning and the art of transforming entrepreneurial visions into tangible, strategic roadmaps. This comprehensive guide is your go-to resource... January 29, 2024 Completing Your Tax Return: A Step-by-Step Handbook As the deadline approaches, the mere thought of completing your tax return can induce stress for many individuals. However, with a well-organized approach and a clear understanding of the process, filing your tax return can be a manageable and even stress-free task. In this step-by-step... January 22, 2024 Pros and Cons of Alternative Financing for SMEs In the dynamic realm of Small and Medium-sized Enterprises (SMEs), securing the right financing is paramount for sustainable growth. Traditional avenues like bank loans are still prevalent, but alternative financing options, including crowdfunding and venture capital, have emerged as compelling choices. In this detailed exploration,... January 15, 2024 SME Funding Strategies Launching or expanding your Small and Medium-sized Enterprise (SME) is an exhilarating venture that demands not only a robust business plan but also secure funding. In this comprehensive guide, we will delve into various SME Funding Strategies, from traditional loans to cutting-edge crowdfunding platforms, all... January 8, 2024 SME Setup: Your BiteSize Guide Setting up a Small and Medium-sized Enterprise (SME) is an exciting venture that requires careful planning and consideration. As a professional accountancy firm specializing in SME Setup, we understand the intricacies involved in navigating the complex landscape of business establishment, taxation, and accounting. In this... January 1, 2024 Navigating Your Finances in the New Year If you are a small business, now is most certainly the time to think about gearing up for the challenges and opportunities that lie ahead for your finances in the new year. The beginning of 2024 presents a crucial time for financial planning and preparation,... December 25, 2023 Limited Liability and Sole Trader: Making the Right Choice For business owners, making the right choice between being a limited liability and sole trader is a pivotal decision that can have far-reaching implications for your financial well-being. In this blog post, we’ll explore the differences between these two accounting approaches and outline the pros... December 18, 2023 Top 5 Cloud Accounting Software for Small Businesses Cloud accounting software has emerged as a game-changer in this regard, offering accessibility, convenience, and robust features to help businesses of all sizes. In the UK, cloud accounting software is gaining popularity, and small businesses are reaping the benefits. In this blog post, we will... December 11, 2023 Cloud Accounting Software for Small Businesses Cloud accounting software has emerged as a game-changer, simplifying financial processes and offering real-time insights into a company’s financial health. In the ever-evolving world of business, staying up-to-date with financial management practices is crucial for small businesses to thrive. This blog post will explore the... December 4, 2023 Small business finance: Navigating the Maze In today’s dynamic business landscape, small and medium-sized enterprises (SMEs) play a vital role in driving economic growth and innovation. In this blog post, we’ll explore the availability of small business finance, the regulatory environment, the role of the UK government in supporting business growth,... November 27, 2023 A Stress-Free Guide to Preparing Your Tax Return Tax season can be a stressful time for small business owners and self-employed individuals in the UK. The thought of filing your tax return with HMRC can often induce a sense of panic. However, with careful preparation and the right guidance, you can navigate this... November 20, 2023 Writing a Business Plan and why you need one One of the key tasks that many small business owners often overlook is writing a business plan. In this blog post, we’ll explore why small businesses should write one, how to create one, and the benefits of having one. Why Should You Write a Business... November 13, 2023 Navigating Value Added Tax When Selling to EU Countries Selling to EU countries from the UK has undergone significant changes since Brexit, and one of the crucial aspects businesses need to understand and manage is Value Added Tax (VAT). In this blog post, we’ll delve into what companies should be aware of, what they... November 6, 2023 Dealing with late payers and cash flow issues In the world of small businesses, cash flow issues are a nightmare nobody wants to experience. Without a healthy cash flow, you can’t run your business smoothly, pay bills, invest in growth, and keep your business afloat. The most common issue small businesses seem to... October 30, 2023 What to Expect from the 2023 November Budget As Halloween approaches we thought we’d explore something scary…the 2023 November Budget! Scheduled for the 22nd of November, the Autumn Budget is poised to be a critical event for small businesses in the UK. It’s the time when the government outlines its fiscal plans for... October 23, 2023 Do you really need a small business loan? Whether you’re starting a new venture or looking to expand your existing business, there often comes a time when you might need a small business loan to achieve your goals. In this blog post, we’ll explore the signs that indicate you may need a loan,... October 16, 2023 Selecting the Ideal Financing Solution for Your Small Business Starting and running a small business in the UK is no small feat, and one of the most critical aspects of its success is finding the right Financing Solution. Proper financing is essential for growth, stability, and managing day-to-day operations. In this blog post, we... October 9, 2023 Cost Savings for Small Businesses: Thrive Amidst the Cost of Living Crisis Cost Savings and the cost of living crisis has been a pressing concern for individuals and businesses alike recently. Small businesses, sole traders, and limited companies are no exception. However, with careful planning and smart financial management, they can weather the storm and even find... October 2, 2023 Tax Forms you Need to For Business Taxes What Tax Forms do you Need to Fill out For Business Taxes in the UK? When it comes to running a small business in the United Kingdom, understanding your tax obligations is essential. Navigating the world of business taxes can be a complex task, but... September 25, 2023 Understanding Small Business Taxation: A Comprehensive Guide When it comes to running a small business in the UK, understanding your tax obligations is crucial. From taxable income to deadlines and potential penalties, navigating the world of business taxation can be daunting. In this guide, we’ll break down everything you need to know... September 20, 2023 Tax Implications for Small Businesses: A Comprehensive Guide In the intricate landscape of business operations, tax implications are a constant presence. Small businesses, in particular, are often at the forefront of changes in tax policies that can significantly impact their bottom line. In this article, we will delve into a recent tax implication... September 4, 2023 How to find a Reputable Accountancy Firm Finding a Reputable Accountancy Firm isn’t always as easy as it seems. And with so many options out there, how do you choose the right one? Don’t worry; we’ve got your back! In this blog post, we’ll walk you through the qualifications to look for,... August 28, 2023 The Vital Role of Accurate Payroll Accurate Payroll is the lifeline of any organization, and getting it right is of paramount importance. In this blog post, we’ll explore why payroll is so critical for small UK businesses, the common mistakes business owners may make when handling payroll themselves, and how outsourcing... August 21, 2023 How to Ace Your Year-End Accounts Submission Ah, year-end accounts submission, that dreaded but necessary task that comes around every year. As a business owner or self-employed individual in the UK, it’s essential to be well-prepared to navigate through this process smoothly. In this blog post, we’ll delve into the main important... August 14, 2023 5 Top Accounting Mistakes and How to Avoid Them Accounting mistakes for any business are costly, but especially so for small businesses. Making accounting mistakes can have serious consequences for your business, including financial losses and potential legal issues. In this blog post, we’ll explore some common accounting mistakes made by small businesses and... August 7, 2023 Overcoming financial challenges in a Small Business. There are a fair share of challenges to be faced when starting a small business, including many financial challenges to consider. If you have decided to venture into the world of entrepreneurship and set up your small business. Congratulations, and don’t let our opening sentence... July 31, 2023 Accountant Firm: Why Small Businesses Should Use One Thinking about hiring an external accountant firm or an internal finance team for your small business? As a business owner, managing your finances can be a daunting task, especially when you have multiple responsibilities to juggle. Keeping track of income, expenses, and tax obligations is... July 24, 2023 Cloud Accounting Security: What You Need to Know Our growing reliance on cloud technology means it’s crucial to understand cloud accounting security. In recent years, cloud computing has completely transformed how businesses manage their financial information. Cloud accounting solutions offer numerous benefits but our growing reliance on cloud technology means it’s crucial to... July 17, 2023 Payroll Management – What Businesses Need to Know Payroll management is a critical aspect of running a business. Whether you’re a small startup or a large corporation, understanding the basics of payroll is essential for ensuring compliance, maintaining employee satisfaction, and managing your finances effectively. In this article, we will delve into the... July 10, 2023 Understanding the Role of an Accountant in Limited Company Accounting The role of an Accountant is so important as managing the financial aspects of a limited company is vital. Accountants play a pivotal role in ensuring the accurate recording, analysis, and reporting of financial transactions within a limited company. In this article, we will delve... July 3, 2023 Cloud Accounting Pros and Cons for Small Businesses What are Cloud Accounting Pros and Cons for Small Businesses? Cloud accounting has revolutionised the way businesses manage their financial records and transactions. Small businesses, in particular, have greatly benefited from the convenience and accessibility offered by cloud-based accounting software such as Quickbooks and Xero.... June 27, 2023 Compliance and Best Practices for Payroll in the UK Compliance and Best Practices for Payroll in the UK is essential for any Small Business. Payroll management is an essential aspect of business, and non-compliance can result in significant legal and financial consequences. The process of payroll management includes handling employee wages, taxes, benefits, and... June 12, 2023 Common Accounting Mistakes Small Businesses Make and How to Avoid Them There are some Common Accounting Mistakes Small Businesses often make. Whilst running a small business is an exciting venture, it’s not without risk and often involves a steep learning curve. One area in particular that causes new business owners trouble is the accounting side of... June 5, 2023 How to Set Up a Payroll System for a Small Business As a small business owner, you have to set up a payroll system, but all the complexities around payroll can make it seem daunting, however, it doesn’t have to be. A payroll system ensures that your employees are paid accurately and on time and that... May 29, 2023 Cloud Accounting Solutions for Your Business: How to Evaluate and Choose the Right One Cloud Accounting Solutions have quickly grown into indispensable assets for many businesses and their financial processes. They enable businesses to access real-time financial information and make informed decisions from anywhere at any time. However, choosing the right cloud accounting solutions can be a complex task... May 22, 2023 Automate your Small Business Accounting in 4 Ways If you Automate your Small Business Accounting you’ll save time and money when it comes to accounting. You can reduce manual tasks and free up your time to focus on tasks that help you grow and develop your business. Here are some ways to automate... April 24, 2023 Financial Statements – How to Prepare them for Your Small Business Financial Statements are an integral part of any small business, as they provide a snapshot of the financial health of the company. Preparing these statements can be a daunting task, but it is essential for the success of the business. Here are some tips for preparing... April 17, 2023 Real-Time Reporting – What is it and How Does it Impact Cloud Accounting? Real-Time Reporting is the ability to access and analyse the latest financial data points with the help of cloud-based accounting software. It also allows businesses to access real-time financial data whenever they need it, without waiting for it to be processed by a third party.... April 10, 2023 Accounting Software – What to Look for in a Limited Company As a business owner, finding the right Accounting Software can be a daunting task. It’s important to find Accounting Software that fits your business needs, is user-friendly and is affordable. For limited companies, certain features should be considered when choosing an accounting solution. An easy-to-use... April 3, 2023 Utilising Payroll Software to Streamline Processes Payroll software is a great way to streamline your business processes and save money. If you’re running a small business, payroll software will help increase efficiency and accuracy by allowing you to file tax returns online, calculate statutory PAYE and National Insurance contributions automatically, handle... March 27, 2023 Calculating Payroll – How to do it Accurately and Efficiently in the UK Calculating payroll is a complex task, but it doesn’t have to be difficult. There are various ways you can make calculating employees’ income easier for yourself. This guide will show you how to calculate pay accurately and efficiently in the UK so that when it... March 20, 2023 Outsourcing Payroll Pros and Cons Outsourcing Payroll, should you do it? Payroll is an important part of any business. It’s also time and labour-intensive, which can make it difficult for small businesses to keep up with all the regulations and requirements. If you want to outsource your payroll, here are... March 13, 2023 Key Trends in Cloud Accounting for Business Owners Cloud accounting is one of the most popular and effective ways to save time and money for businesses in all industries. Although transitioning may seem daunting at first, cloud accounting has many benefits for small businesses in particular. It’s useful for business owners to understand... March 6, 2023 Small Business Tips for Setting Up an Efficient Accounting System Your small business needs to stay organised in order to succeed. That means having an accounting system that works for you and your small business. The good news is that accounting software has come a long way since it started being used in the 1950s.... January 9, 2023 Limited Company Accounting and The Benefits of Automating them As a Limited Company, you have to complete a number of regular accounting tasks to effectively manage finances and fulfil tax obligations. While these Limited Company tasks are necessary and not necessarily difficult to do manually, they can become very time-consuming if you’re not using... January 2, 2023 Taxes – Understanding Payroll Taxes and Deductions in the UK In the UK, you must pay taxes and National Insurance contributions (NICs) on your income. This guide explains what these taxes are, how they’re calculated and why they’re important to understand. Introduction to payroll taxes Payroll taxes are levied on employers based on how much... December 26, 2022 The Benefits of Automating Payroll Payroll is the process of managing employee compensation, and it’s one of the most important functions in any business. It’s also a massive time sink that requires you to pay close attention to every detail if you want to stay compliant with tax laws. Fortunately,... December 19, 2022 Small businesses tell government: ‘We won’t survive’ Millions of small businesses fear the UK economy will never recover from the effects of Brexit and the Covid-19 pandemic. A staggering 3.5 million SMEs are worried they won’t survive even the next 12 months. Around one-quarter of Britain’s 5.5 million small and medium enterprises... December 5, 2022 Do I need to keep accounts as a sole trader? Do I need to keep accounts as a sole trader? The answer is YES. Sole traders need to keep accounts just like any other business, in order to work out how much tax is due to be paid. This makes it essential to keep business... November 29, 2022 Why Small business accounting is vital for your firm Small business accounting is one of those jobs that is very important to get right. Establishing a business enterprise from the ground up is a thrilling time for entrepreneurs, but the role of a business owner also involves many new obligations. If, in the past,... November 21, 2022 What help is there for a start up business? If you have recently set up a business, or are trying to set up a start up business you’ll know it is a monumental task. This is especially the case if it is something you don’t have much experience in. So, to take some of... November 14, 2022 3 benefits of hiring an accountant externally If you are hiring an accountant it is important to make sure you get it right, especially if you are a small business owner. An external accountant can be a great solution vs hiring in-house. The truth is that not all accountants are created equal.... November 7, 2022 3 reasons for hiring an accountant as sole trader? When you run a business on your own and are used to doing everything yourself. It can be hard to see the need to hire another person to complete a service for you, such as hiring an accountant. Especially if your business is doing well,... November 1, 2022 3 start-up business tips for your small business Your start-up business could be extremely successful if you get the basics right. However, trying to juggle all the different parts of a start-up business can be very overwhelming. So, if you are thinking of making the move from employee to entrepreneur, read on to... October 24, 2022 Self-assessment tax bill worries, what can you do about them? Anyone who operates as a sole trader knows that you must complete a self-assessment tax return each year and submit it by the 31st of January of the following year. This means that many sole traders are now eagerly working away on their self-assessment return,... October 17, 2022 How to get started with self-employment As either a freelancer or a contracted supplier for a company, working on a self-employment basis has several benefits. Certain expenses become tax-free as they are part of your work, and you have a greater degree of financial freedom than others. However, getting started can... October 11, 2022 What 3 accounting services are the most important for startups? Accounting is essential for start-ups looking to grow their businesses. Utilising accounting services as a start-up is important for getting your business on track to productivity and profitability, especially if you’ve never handled business finances before. Below are some of the key reasons why start-up... October 1, 2022 Why should small businesses use cloud accounting? Cloud accounting is an increasingly popular choice for small and medium-sized businesses. Understanding what cloud accounting is and how it can benefit your small business is key to reaping the benefits and securely storing your important data and information. Here at SQK Accountancy, we want... September 24, 2022 Three top tips for finding start up support Starting a small business can be incredibly overwhelming. You have a great idea and you want to share it with the world and grow it into something real. But what should you do first? Here are three top tips that can help you as you... September 19, 2022 What taxes do you pay as a freelancer? When working on a freelance basis, organising your tax payments is a difficult process. This entails understanding the taxes that you pay, the right time to pay them and just how much you owe. Without knowing all of this, you run the risk of a... September 12, 2022 What are the three most important types of accounting? While there are as many as twelve branches of accounting, not all of them will be relevant for you or your business. Here are the three main types which may be essential for you to be aware of. Tax accounting Tax accounting involves ensuring that... August 29, 2022 A guide to managing cashflow as a freelancer Cashflow management as a freelancer can be a challenge. The ultimate responsibility for getting paid is yours and yours alone. While a regular payday is the highlight of most employed people’s months, as a freelancer it’s often not a certainty. There are some principles and... August 21, 2022 4 accountancy tips for your start up Starting a business is an exciting time for any entrepreneur, but it’s also a very important one, so you have to stay focused and organised. If you’re not careful, you may find that your start-up fails before it even has a chance to get off... August 13, 2022 Three tips for improving your startup accountancy When you run a start-up business, you want to be as competitive as possible, which means keeping on top of your finances and knowing what you’re spending your money on. Learn three tips for improving your start-up accountancy and how each one provides you with... August 7, 2022 What kind of help is available for small business accounting? Small business accounting is something that is critical to success and crucial for sustainable growth. If you run a small business, looking after your accounts must be a central part of your overall business plan. This can often mean looking for expert help in this... July 31, 2022 What is Making Tax Digital and why should your small business be aware of it? Although there are many important parts to any successful business, keeping on top of your accounts is perhaps the most crucial. If you do not keep tabs on your cash flow, track expenses or run the payroll on time, for example, things could soon get... July 21, 2022 Should I outsource my bookkeeping? Small business owners have plenty of things on their plates, from attracting new customers and keeping profits high to hiring the best talent and building a brand. Sorting out tax records and invoices can sometimes feel like the last mountain you want to climb. Outsourcing... July 17, 2022 5 benefits of cloud accounting The use of desktop accounting packages and spreadsheets for accounting is declining as more and more start-up businesses take to cloud accounting for all their bookkeeping needs. There are lots of benefits to cloud accounting, including the fact that you can work from anywhere to... July 10, 2022 Responsibilities for limited company accounting If you run a limited company in Manchester, you must take on various responsibilities. UK law sees company directors as stewards for the firms they operate, rather than outright owners. They must also comply with UK tax law. Directors’ responsibilities Directors have various responsibilities. These... July 2, 2022 Be honest: Do you really understand VAT accounting? Many sole traders and limited companies that earn over a certain amount need to file separate VAT accounts to HMRC. Unfortunately, many firms and individuals don’t understand how it works, particularly when they’re just starting out. Therefore, in this post we take a look at... June 23, 2022 The three benefits of better payroll support When you’re operating a small business or limited company, knowing where to start with your documentation is nearly impossible. That’s why having all of the right payroll support in place is one of the most important parts of getting started. Learn more about the three... June 16, 2022 4 tips to make small business taxes less stressful Before you set up your own firm, you have no idea how stressful small business accounting can be. You go into it thinking that the government will provide you with easy-to-use, intuitive services to calculate what you owe… but nothing of the sort happens. Instead,... June 10, 2022 Early stage accountancy tips for budding entrepreneurs The SME market is continuing to grow, despite the fact that 50% of start-up businesses will fail in their first year. Getting your new business off to the right start means taking on board accountancy solutions from the outset. Accounting sits at the very heart... June 6, 2022 Risks of cloud accountancy and how to avoid them Cloud-based accounting software is growing in popularity due to its compatibility with remote working, reducing admin workloads and making paying taxes online so much easier. With all of its benefits come some drawbacks and risks too, which is the case with all new technologies. Here,... June 6, 2022 3 Accounting Tips Every Freelancer Should Know The world of work is constantly evolving and changing. This is especially true when you take a look at how people work now and the rise of freelancing. Offering freedom, a chance to be your own boss and to work in an area you love,... May 23, 2022 Why is a professional accountancy service vital for start-ups? Setting up an enterprise from scratch can be an exciting time for those with entrepreneurial intentions. However, such an endeavour includes a wide range of new responsibilities. If you have previously worked as a Pay As You Earn employee, you’re likely used to your firm... May 10, 2022 Ways to improve cash flow in 2022 2022 has not been the best year so far for most businesses. Businesses are still struggling with the effects of the coronavirus pandemic, which led to less foot traffic, low spending among consumers, and the current employment crisis. When these were starting to be well... April 24, 2022 Taking on your first employee? Consider online payroll One key element of small business accounting that is often not explored until the last minute is payroll. It’s a defining moment in any small business when you go from being a solo trader to a business with employees. Even one employee can present difficulties... April 18, 2022 A simple guide to account reconciliation in business Most businesses rely on financial statements to understand the financial health of their outfit. It’s using statements that businesses gain indications of profitability, liquidity, and solvency of the enterprise. However, the statements are only as good as can be verified from reconciliation. Reconciliation is all... April 10, 2022 UK SME accounting deadlines explained If you run a private company in the UK, you must prepare two documents at the end of the financial year: Statutory annual accounts and a Company Tax Return. HMRC puts various deadlines in place for both of these documents. In most cases, they relate... April 2, 2022 4 accounting tips for start-ups Accounting is an important subject for all business owners, especially as it’s often considered the “language of business”. Here are some of the main things to consider to help your business grow and remain profitable. 1. Separate personal and business expenses Just as it’s... April 2, 2022 What expenses can I claim as a sole trader? As a sole trader, the cost of anything necessary for running your business can be considered an expense. That means you’ll pay less tax and keep more of your hard-earned money. Understanding how to handle expenses is important to ensure you pay the right amount... March 13, 2022 3 key areas most small businesses need support in Small businesses are key to the whole UK economy – be it in Manchester or anywhere else in the country. Due to the nature of these companies, they do not always have large numbers of staff to handle every task or huge departments to focus... March 6, 2022 The accounting glossary for new business owners Are you a new business owner worried about how you’re going to manage your accounts? Have you been wondering what all those financial terms mean? Take a look at this breakdown of common accounting terms. After reading this list, you’ll have a better grasp of... February 26, 2022 5 payroll tips for small businesses Payroll, it’s a bit of a nightmare. Not only is it complex, but the consequences of getting it wrong can be severe. HMRC and other authorities regularly audit firms that fail to meet statutory requirements. Fortunately, we’re here to help. In this blog, we take... February 13, 2022 What is voluntary disclosure and why is it important? Accountancy is very important when it comes to running your own business. A major part of this is completing annual tax returns to HMRC and quarterly VAT returns for VAT registered companies. It goes without saying that getting the right figures in these returns is... January 30, 2022 What are the dangers of not hiring a small business accountant in 2022? Small businesses are the backbone of the UK economy and crucial to the overall success of the nation. It is not always easy to set up and establish a thriving small business, however, and there is lots for any entrepreneur to think about in 2022.... January 17, 2022 Should my SME make the switch to cloud accounting? Cloud accounting refers to the process of moving traditional accounting online – more specifically, to the cloud. It can do everything that traditional accounting does but uses third-party APIs so that businesses can make better and easier use of their finances. Cloud accounting is especially... January 11, 2022 3 things SMEs should consider when choosing an accountant in 2022 SMEs represent the hidden key to the UK’s financial health and economy. That’s why it’s so vital that SMEs are equipped with qualified and experienced accountants going into 2022. The financial trend is moving more firmly towards cloud accounting and offering more support to SMEs... January 11, 2022 How changes to national insurance will impact SMEs The UK government announced that National Insurance Contributions for employers, employees and the self-employed would increase by 1.25% from April 2022. SMEs in the UK will need to be aware of what this means for them, so we have broken down the key considerations in... January 2, 2022 Sole trader or start-up? How hiring an accountant saves you valuable time If you’re a sole trader or start-up, every opportunity to secure a client or make another sale is crucial. The last thing you want to do is waste precious time that could be spent chasing leads trying to get your business finances in order. If... December 27, 2021 3 key benefits of Cloud accounting for UK small businesses All small business owners know how vital it is to keep a track of their accounts. This not only helps you to be in control of key things like cash flow but also means you can run payroll effectively and set realistic goals for future... December 19, 2021 3 key areas to focus on in 2022 for any small business Small businesses are key to the UK economy and help to keep the nation going. They not only provide vital services and goods but also employment too. If you run your own small business, you will no doubt be starting to review what happened in... December 8, 2021 Why is accounting so important for start-ups? Whether you choose to be a limited company or a sole trader, all new businesses start somewhere. All new businesses also need to pay attention to a few crucial areas if they are to succeed in the long term. Start-up accounting is certainly something any... December 6, 2021 Claiming expenses as a sole trader If you’re considering embarking on a new career as a sole trader, or if you’re about to launch a start-up as a sideline to your existing occupation, you might be apprehensive with regard to how taxes and expenses work. As a sole trader, your company... December 4, 2021 The dangers of DIY small business accounting It’s no secret that most small businesses face numerous financial challenges, including limited cash flow and inadequate capital. As a result, many small business owners opt to DIY most of their tasks, including small business accounting, to save money. Unfortunately, they only end up losing... December 1, 2021 How to find a good accountant for your limited company Choosing the right accountant for your limited company can mean the difference between success and failure. A reliable accountant will help with the initial setup process, such as forming your limited company and advising you on various financial matters. Here are four tips that can... November 28, 2021 Payroll and small businesses: Why is it so important to get right? When it comes to key areas involved in running a business, payroll is often near the top of the list. This is because it is vitally important to get right for any organisation which employs staff. But what does it involve exactly? In simple terms,... November 24, 2021 How can you find the support your small business start-up needs? Starting your own small business is exciting but can also feel a bit daunting. This is especially true if you are a new entrepreneur and have never run your own company before. As with everything in life, it is often worth looking for additional support... November 22, 2021 How long do I need to keep my business records? When you start a business, whether freelance or a limited company, it’s easy to forget about all the statutory accounting obligations, including retaining business records. Unfortunately, this can result in fixed penalties, fines and interests that cost your business significantly. So, it’s vital to know... November 20, 2021 What a limited company accountant can do for your company Hiring an accountant for your limited company is an excellent investment. They can oversee your accounts and tax, ensuring every aspect is compliant, which allows you to focus on day-to-day operations and developing your business. Keep reading to find out some of the main tasks... September 28, 2021 A beginners guide to payroll in business One of the key concerns if your company employs staff is running payroll. This is important for a number of reasons and something you must not only do on time each month but also get right. If not, your employees will not be paid on... September 16, 2021 What is payment on account for the self-employed? Anyone who is self-employed knows that accounting and tax are very important considerations. When it comes to tax, all self-employed people need to complete a self-assessment return each year for HMRC. This tells the Government what you earned, how much profit you made and enables... September 10, 2021 Which accounting apps are best for payroll? As a small business, we’re sure you’ve got a lot on your plate when it comes to finances. While it’s always best to invest in a reliable accountant, there are some areas that may be more suited to accounting software. One such area is payroll.... September 6, 2021 3 freelance accounting mistakes to avoid The world of work is a fast-moving place and this is more true than ever when you consider how people work now. Freelancing has really grown over recent years to become a popular career choice. When you look at the freedom, flexibility and chance to... August 27, 2021 4 tips for sole traders that can help their business Being a sole trader has a range of benefits – not only do you have a lot of freedom when it comes to the type of work that you accept, but you can also work on a more flexible schedule. Saying that though, there are... August 9, 2021 The benefits of bringing your payroll to the cloud Payroll has always been a problematic concept for businesses, largely due to the complex nature of the work and how easy it is to make a mistake. Thanks to innovations in cloud-based accounting software, payroll can be accomplished in a much more convenient and less... August 2, 2021 Is cloud accounting right for your business? Cloud accounting can be an excellent approach to accounting for many businesses, as it migrates all of the manual accounting duties into an online portal. We’re going to take a look at whether or not cloud accounting is right for your business by looking at... July 27, 2021 Why is getting payroll correct every time still important in 2021? Whether it is in terms of small business accounting or accounting for larger limited companies, payroll is a key piece of the pie. It is hugely important for any business which employs staff and is something which you must get right. In simple terms, it... July 20, 2021 How to manage start-up funding A lack of capital is often a death knell for small businesses, which makes it more important than ever to keep on top of your finances. Simple mistakes could prevent you from getting the income and support you need to survive. Here are just a... July 2, 2021 Why cloud accounting is the right choice for your business Accounting software has been a crucial tool for businesses for quite a while now, offering a host of features that traditional bookkeeping can’t offer. From real-time reporting to automatic tax returns, accounting software streamlines a lot of the laborious accounting processes for small businesses, start-ups,... June 28, 2021 What should I keep for sole trader accounting? Working as a sole trader is often a unique experience, but from an accounting perspective, you need to do much the same as any other business. This means keeping hold of your business records to accurately pay taxes. Although often thought of as self-employed... June 21, 2021 Starting your new business? It’s never too early to find an accountant When starting a business, many entrepreneurs envisage outsourced accountancy as something to think about later down the line. They think this for a number of reasons; whether it’s the perception that small business accountancy is easy enough that they don’t need help, or that they... June 8, 2021 Three things to remember when accounting for your small business Completing your accounts can be one of the most intimidating things for any new company to do. As someone new to the world of accounting, you don’t want to risk getting anything wrong as that could land you in legal trouble. Let’s take a look... June 4, 2021 What are the benefits of voluntary VAT registration? VAT registration becomes mandatory for your business if your annual turnover has been over £85,000 or is predicted to be so over the following 30 days. If your turnover is under that, VAT registration is not legally required. Many smaller businesses still choose to become... May 24, 2021 How does limited company accounting differ from sole trader accounting? When you first set up a business, you will need to decide on the structure. For many people, this comes down to deciding whether setting up as a limited company or a sole trader is best. here are key differences in how each type of... May 18, 2021 Outsourcing your accounts: 3 reasons all small businesses should do it Any small business owner is always looking for ways to grow, work more efficiently and make their life easier. One of the best ways to achieve this is by outsourcing certain key tasks. This basically sees you pay a professional, external company to carry out... May 11, 2021 3 accounting mistakes to avoid as a new start-up Starting your own business is an exciting thing and something that will hopefully grow to meet your expectations. It is not always easy though and you need to do all you can to help it flourish. Looking after your accounts as a new company is... May 4, 2021 4 things you should consider before starting your business Whether you have a great business idea or dream of becoming your own boss, starting a business is an exciting time. Running your own business will take time, hard work and energy, but there are great rewards available in terms of your own freedom, flexibility,... April 26, 2021 How cloud accounting services can benefit small businesses A small business or start-up must be extremely vigilant of its finances in order to ensure that profits are maximised and any losses or unnecessary outgoings are minimised. Cloud accounting services are ideally suited to the running of small businesses because they allow access to... April 20, 2021 Top 5 benefits of hiring a cloud accounting company Whether you are a small start-up struggling to manage your finances or a large, limited company, our cloud accounting services will streamline your bookkeeping. Our experienced team of accountants combined with our online bookkeeping software allows us to provide a simple, efficient and cost-effective service... April 8, 2021 What are scalable accountancy services, and why should they matter to you? When you’re considering the services of a financial specialist to help you with your start-up accounting, there are many things to consider. Something you may not have thought about is scalability – but scalability is one of the most important things you need to be... March 30, 2021 This is why every small business needs to work with an accountant Small businesses across the country have had a traumatic last 12 months, and with coronavirus restrictions set to be lifted in the coming months, every business owner will be looking to consolidate throughout 2021 and will be doing all they can to operate safely and... March 24, 2021 Operating as a sole trader? Key tips for handling your accounts While there are a few different ways to structure any UK business, setting up as a sole trader is still very popular. This is naturally a great choice for smaller ventures who do not expect to generate large turnover figures. It is also suitable for... March 17, 2021 Three tips for managing your small business payroll For most small business owners, doing payroll is one of the most time-consuming and tedious tasks that bring no strategic value to their business – but it’s also one of the most important ones too. Problems in this aspect of business can reduce employee morale,... March 10, 2021 3 myths around small business accounting Choosing to set up your own small business is a huge decision and one that will change your life. Of course, if you get it right then this will be in a positive way. Many people running successful small businesses love the chance to be... March 3, 2021 Three reasons why your start-up business needs an accountant So you have written your business plan and you’ve developed your brand and marketing campaign, but what about your finances? Many start-up businesses try to manage their own accounts when starting out, only seeking advice when it gets too complicated, or when their first tax... March 2, 2021 How a modern accountant can help you on the road to recovery It goes without saying that the coronavirus pandemic has had a far-reaching economic impact, buckling businesses of all sizes across all sectors, and in the midst of this economic uncertainty, SMEs are most at risk. As we navigate the turbulence of 2021, it’s more important... February 18, 2021 How do you know it’s time to start looking for a new accountant? Most businesses understand the importance of small business accounting. What most don’t understand, however, is when the time is right to change their accountant. Staying with the wrong accountant can cause stress, delays, and ultimately cost you money. We’ve already discussed 3 things to consider... February 9, 2021 Looking for a new accountant in 2021? 3 key things to consider Keeping on top of your accounts is crucial for any business in Manchester – whether you are a brand new startup or an established limited company. Knowing how much money you have, what your cash flow is like and keeping track of expenses is vital.... February 1, 2021 The benefits of hiring a business accountant We all know that accountants can help with important financial tasks such as calculating tax returns, however, there are many other benefits to your business when you hire an accountant. Whether you are starting a business and need help with forming a company or an... January 25, 2021 How cloud accounting can keep your business running smoothly during a pandemic 2021 is going to see a continuation of the difficult times we all experienced in 2020. While New Year’s optimism is essential, it’s also important to be realistic about challenges your business is going to face this year and going forward. How can cloud accounting... January 19, 2021 Small business accounting errors to avoid Managing your accounts is an essential part of any small business, and small errors can have big consequences. It may feel like getting to grips with your business finances is a bit of a minefield, but we’re here to help you avoid these common small... January 6, 2021 Four tips for start-up and small business accounting Starting a new business is an exciting time, and undoubtedly there are lots of things to think about. It’s easy to forget about certain areas like accountancy. If you’re launching a new business and want to make sure nothing gets neglected, read on for our... December 30, 2020 5 benefits of cloud accounting for small businesses Cloud services have revolutionised software procurement for small businesses. Cloud-based software enables startups to access the same advanced features usually reserved for expensive enterprise software packages. Below are five important ways that cloud-based software benefits small businesses. Save time It can be difficult for... December 29, 2020 Starting a business in 2021? 3 accountancy tips to take on-board While 2020 has been a difficult year for many around the UK, this does not mean people are looking ahead to 2021 with a gloomy outlook. Many will be planning to make the most of the new year by opening their own business. If this... December 18, 2020 Think you can’t afford outsourced accountancy? Think again As a small business owner, you know the importance of making every expenditure work for you. Many business owners feel that accounting is something they simply can’t justify outsourcing – but the reality is that small business accounting is always affordable, no matter your circumstances.... December 11, 2020 3 tips to make running payroll easier in 2021 With 2021 fast approaching, many businesses will be starting to look at how they can grow and improve in the New Year. This involves looking into specific areas within the company and drilling down to see where processes can be revamped. One key thing many... December 1, 2020 Should a business register for VAT voluntarily? VAT can cause a lot of confusion for business owners and if you are not earning above the minimum threshold to automatically be VAT registered, it may not seem worthwhile to understand it in detail. However, there are benefits that can come with being a... November 24, 2020 What should you know about outsourcing accountancy as a start-up? There are many important elements of business development to consider as a start-up, but one that few are able to maximise their potential with is accounting and bookkeeping. Many small business owners and entrepreneurs feel they either have control of their finances when they don’t,... November 17, 2020 3 accounting tips for limited companies Did you know that as of 2019, there were reportedly around 2 million limited companies actively trading in the UK? These figures show that this type of business is just as key to the national economy as sole traders or non-limited SMEs. If you are... November 5, 2020 Guiding your employees through tax relief on WFH expenses If you’re a small business owner whose staff have gone remote due to the pandemic, then no doubt you’ve already had to navigate the pitfalls of ensuring they’re set up to work and stay in touch. Or maybe you are a consultant or sole trader... October 30, 2020 Why outsourced accountancy is a scalable investment If you’re interested in investing in freelance accounting services to outsource your general small business accounting and payroll, you want to make sure it’s an investment that will provide continual returns. To do that, you need to be sure you’re going to get something back... October 21, 2020 Why should a freelancer hire an accountant? A key part of the UK workforce are the freelancers. Government figures show that around 2 million people in the UK now work in this manner. If you work in this way, then you will know how vital these businesses are to the economy and... October 15, 2020 3 payroll mistakes to avoid Payroll might seem like a straightforward process, but there are a number of common mistakes that can lead to unexpected costs and wasted time. In this blog, we’ve put together a list of three payroll mistakes to avoid. Missing deadlines Most small business owners are... October 5, 2020 Why should you embrace outsourced online payroll? Payroll is a key accounting service, but many businesses still think investing in the services of a specialist in small business accounting is beyond their reach. The reality is that nothing could be further from the truth. Not only is it affordable, but using... September 28, 2020 Optimise your business cashflow by outsourcing your accountancy Every business wants to optimise cashflow as much as possible, but when you’re in the midst of building and running your small business it can be difficult to set aside the time required to develop and implement those strategies. An affordable investment in the... September 21, 2020 Starting out as a sole trader? What to look for in an accountant Sole traders are a key part of the UK business landscape. As of 2019, figures from the UK Government found that there were 3.5 million businesses of this type in operation. This clearly shows how common and how vital sole traders are to the... September 15, 2020 What can you do to help your accountant deliver a better service? Getting a professional and experienced accountant to handle your financial situation is essential if you want to make sure your business is truly primed for growth. The truth is, however, that small business accounting is most successful when both client and accountant are working together.... September 3, 2020 Myths about cloud accounting In today’s business environment, financial management via the cloud is one of the best ways of keeping up with changing market demands. However, a number of companies across the country are resistant to change due to fear of the unknown, so we’ve debunked three of... August 27, 2020 Here’s why a business is never too small to benefit from an accountant Many small and freshly started businesses fall into the trap of thinking that outsourced accountancy is not something they need to consider – they think an accountant is something only bigger businesses need. The truth of it is, however, that small business accounting, when handled... August 19, 2020 Drastically minimise the risk of costly accounting mistakes by outsourcing to a professional One element of small business accounting that few mention, is the propensity for mistakes to happen. There’s nothing to be ashamed about when it comes to making mistakes. When you have a busy blossoming business to run, time is always in short supply. Those mistakes... August 14, 2020 Financial errors that could impact your start-up Starting your own business is an exciting yet often overwhelming task, so it’s important to make sure that you are making the right financial decisions throughout the process. In this blog, we’ll be taking a look at a few of the most common financial errors... July 28, 2020 The importance of a tailored approach to small business accounting Small business accounting is not a “one size fits all” proposition. When you are looking to invest in outsourced accountancy services for your small business, it’s essential that you choose an accountant who can tailor their services directly to you. Services tailored to you No... July 20, 2020 How an outsourced accountant can help prime your business for growth Outsourcing to a specialist well versed in small business accounting makes sense for a lot of reasons. They can help keep your finances in order, ensuring that your business is free to operate as efficiently as possible. This outsourced accountancy also serves as a prime... July 14, 2020 Which key areas should you focus on as a small business owner? If you live in Manchester and have recently set-up your own small business in the city, you know there is a lot to look after. Running your own company involves keeping an eye on many different things and normally sees you with a long to-do... July 3, 2020 Outsourcing services for your new business Starting a new business can be a very stressful time. There are so many things to think about and remember, and so many things that could go wrong if you don’t. You don’t need to take on everything yourself. There are many tasks that can... June 29, 2020 Embracing the convenience of cloud accounting The cloud is becoming one of the most popular aspects of modern small business accounting. You’ve no doubt already heard about the cloud, and you may have thought about what it can offer you. The truth of the matter is that cloud accounting can offer... June 22, 2020 Is outsourcing to an accountant worth it for a sole trader? If you’re a sole trader it can be easy to think you’re better off handling your finances yourself. But the reality is that investing in the services of a professional well versed in sole trader accounting can be one of the most valuable and beneficial... June 15, 2020 Why is cloud accounting so useful for small businesses? Cloud accounting is becoming increasingly popular amongst all aspects of business accounting – but many small businesses don’t understand the many reasons it can benefit them specifically. There are lots of ways in which embracing the cloud is the right choice for small business accounting... June 2, 2020 Why should you choose a specialist small/medium sized business accountant? When choosing the best accountancy firm to help your small or medium-sized business, you have a lot to choose from. It can be tempting to choose a firm with a degree of international pedigree. But, the reality of it is that you should be looking... May 27, 2020 Taking on your first employee? It’s time to outsource your payroll Many businesses think that payroll is something they only need to consider outsourcing when they have a team of employees. The reality is, however, that you don’t need to wait until you have a whole department before considering the benefits of outsourcing payroll. Whether you... May 19, 2020 What makes outsourced accountancy such a smart long-term investment? Small business accounting is a compelling and very valuable investment, for all manner of established businesses and new-starts. Many still see outsourcing their accounting as a pure cost, however, and one they can’t manage. In truth, outsourced accounting is actually a long-term investment that gets... May 13, 2020 3 myths about outsourcing payroll debunked Some businesses are hesitant to trust outsourced payroll services due to the number of myths and misconceptions that circulate the industry. In order to shed some light on the benefits of outsourcing your payroll, we’ve debunked some of the most common myths about payroll outsourcing.... May 4, 2020 Tech start-ups may have problems accessing coronavirus loans from the Future Fund If you own and operate a tech start-up business, the coronavirus crisis is likely to be causing immense stress. Access to operational finance may be a big issue, despite the launch of the UK government’s Future Fund and Job Retention Scheme. One of the major... April 28, 2020 National Insurance contributions: understanding payroll deductions As an employer, it is your legal responsibility to complete all payroll tasks. Most businesses in the UK process payroll via PAYE, which is the system used by HMRC to calculate National Insurance and income tax deductions from employee wages. Below we answer some common... April 17, 2020 Common payroll queries about the UK Coronavirus Job Retention Scheme The UK coronavirus shutdown has hit small businesses hard. But, there are ways to move forward and our latest blog posts discuss the kind of help that can be accessed during this crisis situation. The experts here at SQK Accountancy have been inundated with calls... April 15, 2020 How can accountants help in a crisis? Did you have a Crisis Plan in place, including protocols for financial management in troubled times? The answer for many small businesses is no. Even those who did ‘plan for the worst’ will have been shocked by the massive repercussions of the Covid-19 pandemic. However,... April 1, 2020 COVID-19: What help is available for small businesses and sole traders? The current coronavirus crisis is hitting everyone in the UK, from employees and freelancers to small businesses and the largest multi-national corporations. While many of us may still struggle if the economy continues on its current downward turn and social distancing measures tighten further, the... March 24, 2020 Getting small business accounting right from the start Accounting is an essential part of any business. Ensuring that your cashflow, expenses, and company capital are all recorded accurately is necessary both for understanding how your business is working, as well as for HMRC and filing your tax return. However, many people who set... March 18, 2020 Cash or accrual accounting for my UK startup: which is best? UK business start-ups can opt for two main types of recording for accounts; accrual or cash accounting. If you’re planning to set up a business and are wondering how to record sales, debts, and purchases in your accounts, this short SQL summary offers a brief... March 11, 2020 Basic accounting considerations for limited company start-ups in the UK If you’re planning a limited company start-up, it’s a good idea to get your accounting function working from the outset. Your limited company will have its own legal status, and that means you’ll have a legal obligation to produce annual accounts on a regular basis.... February 25, 2020 Can I get my business start-up launched after Brexit? No matter which way you voted in the EU referendum, the UK has now left the European Union. And, many hopeful entrepreneurs are querying just how this will impact their business start-ups. The professionals here at SQK Accountancy handle a variety of sole trader and... February 19, 2020 Outsourcing payroll makes sense even when you have a single employee Business start-ups often consider payroll to be something to worry about later down the line. Payroll management seems like the preserve of large companies with multiple departments – so you, an entrepreneur with a single employee don’t have to worry about it, right? Wrong! It... February 11, 2020 Which key areas should your small business focus on in 2020? Now that 2020 is well underway, all small businesses in the UK will be looking at how they can grow over the coming year. Many of the decisions here will rest on where any attention should fall within your organisation. As any business owner knows,... February 5, 2020 Sole traders in the UK benefit from cloud accounting The complexities of accounting in the modern era make it important for all business owners to recognise the importance of cloud accounting. Many sole traders historically relied on paper accounts, but the introduction of UK government digital legislation means this is increasingly difficult to administer.... January 24, 2020 3 handy accounting tips for limited companies January 20, 2020 The single most important skill you need for successful accountancy Accounting forms the backbone of your business; whether you’re an entrepreneur working alone or a multi-national corporation, accountancy is an essential consideration. Making it as easy, efficient, and accurate as possible is of the utmost importance, and to do that you need to learn and... January 13, 2020 How to streamline your small business accounting in 2020 2020 has well and truly arrived, making now the perfect time to streamline your small business accounting to ensure this year is your most profitable yet. Make 2020 the year you beat your competitors and exceed your yearly targets by following these tips… 1. Optimise... January 9, 2020 The main advantages of setting up as a sole trader A new year heralds a new start and is a time when many consider setting up a new business venture. When you start a business, the first thing to decide upon is whether to create a limited company or go in as a sole trader.... December 27, 2019 3 awesome payroll tips for small businesses For any small business, payroll is one of the key tasks to get on top of each month. This is basically the process of paying your employees but also involves sending the relevant NI and tax contributions to HMRC for each one. Getting this key... December 18, 2019 Starting a business in the New Year? 3 reasons to use a professional accountant As 2020 begins to draw nearer, you may be thinking of branching out in your career and setting up your own business. Business start-ups are the lifeblood of the UK economy and the New Year is the perfect time to make a fresh start. One... December 11, 2019 Why does cloud accounting make sense for start-ups in the UK? Start-ups are the lifeblood of the UK economy and vital to the country’s success. Running this kind of business can sometimes bring its own challenges though – usually around budgets and money! This means that finding the best way to look after your key business... December 5, 2019 UK start-ups payroll and accounting advice: What benefits and expenses are tax exempt? If you’re starting your own business, payroll affordability could be one major issue causing worry about ongoing operations. Retaining the best people in your business isn’t always about paying top dollar, though. There are a variety of benefits/expenses that could be offered new hires and... November 26, 2019 Top accountancy tip for UK business start-ups If you’re planning any kind of business start-up in the UK, it’s always a good idea to get in touch with professional accountants at the earliest stage. Many small business leaders do prefer to “go it alone” for the first few weeks or months, however.... November 21, 2019 Why business start-ups need to outsource more Starting your own business is a great way to take control of your destiny and career. However, owners of business start-ups often underestimate how much work there is in building a business. As a result, they tend to work long hours, often without much time... November 13, 2019 Five myths of business start-ups There are numerous myths when it comes to business start-ups. While some of these are harmless and can be quickly dismissed, others can be damaging to the potential success of your future venture. So, what are the top five myths of business start-ups and what... November 7, 2019 Why businesses have it easy when outsourcing accounting and payroll services Businesses nowadays outsource several mundane tasks to independent professionals who are better skilled and experienced in their respective fields. Small businesses and business start-ups have a lot to gain from outsourcing critical tasks such as accounting and payroll. Here are five reasons why financial management... October 28, 2019 Understanding tax and National Insurance contributions as a sole trader Many business start-ups will be registered as sole traders, certainly during their initial phase of growth. This is understandable as being a sole trader is simpler in many aspects than setting up as a limited company. Accounting and paperwork are generally less time-consuming for example... October 18, 2019 Do you need a professional accountant? These five signs say you do Business start-ups and small businesses are often slow at delegating certain tasks within the business. Accounting is one of the vital roles that many new entrepreneurs seem to take lightly. Some business owners assume that their enterprise is not large enough or ready for professional... October 10, 2019 Top five qualities of an excellent accountant Accounting is a critical area in any organisation. Besides handling crucial tasks such as payroll management, tax compliance, and preparation of financial documents, an accountant is also responsible for providing valuable financial insights to inform business decisions. Clearly, only a competent, highly-skilled professional is well-suited... October 8, 2019 The top three accounting problems facing business start-ups Launching a new business is an exciting venture. However, running a successful start-up has proven difficult for many entrepreneurs. 30% of business start-ups fail within the first two years, only a few grow to dominate their niche and become established brands. Financial problems are identified... September 24, 2019 Corporation tax for start-ups Staying on top of business accounting can be time-consuming and difficult, and that’s particularly true for new business start-ups. If you’re planning to set up a limited company, corporation tax is just one of the regular taxes your business will need to pay. As small... September 17, 2019 Top payroll tips for start ups and small businesses Operating a payroll is challenging for business startups and existing small businesses, and one important early task to ensure the tools are in place to make running payrolls a routine matter. Some top payroll tips from the expert payroll team here at SQK Accountancy include:... September 9, 2019 What three things should business start-ups be looking for in accountancy professionals? For business start-ups, outsourced accountancy is one of the most practical investments available. They allow you as a business owner to focus on growing your business, safe in the knowledge that your finances are being professionally handled. The more your business grows, the better an... September 4, 2019 Is it time for you to start outsourcing your business payroll? All business start-ups are going to have to deal with payroll at one point or another. While it might seem daunting, it’s actually a good thing, as your ability to have employees is a symptom of your business growth. The question that sits before you... August 23, 2019 Will Brexit impact on UK business start-ups? Many business start-ups have expressed considerable concern over Brexit and the ways it could impact on their trading and profitability. So, we’ve taken a few minutes to round up some key aspects of Brexits to provide some degree of reassurance for existing small businesses and... August 19, 2019 Ways Making Tax Digital impacts on your startup The government’s shake-up of the tax system – Making Tax Digital – will impact on all businesses; including startups. This major change to the way taxes are reported and administered means any business start-ups need to ensure compliance from the launch date. If you’ve never... August 9, 2019 The three golden rules for business start-up accounting An accountant is an excellent investment for business start-ups from day one, however, there are always things you can do as a business owner to improve the overall quality and efficiency of your accounting. Following these three golden rules will help you to make sure... August 5, 2019 Why startups need to opt for cloud accounting All UK business start-ups or existing small businesses will find using cloud accounting software offers a variety of benefits. There is a range of software on the market, some of it free to end-users, giving business accounts a head start when it comes to speed... July 24, 2019 A step-by-step guide to changing your SME’s accountant When running a small business or start-up, every penny counts. There’s no place for excessive spending or inefficient budgeting, which is why it’s absolutely essential to ensure you work with an accountant that helps you save money, rather than one that hampers your finances. So,... July 16, 2019 Three basics companies need to know about VAT For many people, VAT is rarely thought about. It’s an additional cost on products, but as it is incorporated into the displayed price for many items in the UK, it almost becomes an invisible tax. As such, many people don’t know much about it or... July 10, 2019 Why should your business consider voluntary VAT registration? You will probably already know that becoming a VAT registered company is a legal requirement after your business reaches a taxable turnover of £85,000 (as of 2018/2019). But businesses can actually register for VAT before that – are there any benefits of doing so? Well,... July 3, 2019 Why it’s best for small businesses and startups to hire accountants Whether you’re a sole trader, planning a business startup, or a small business owner, it’s likely you recognise that funding your trading can be very difficult when you have to cope with a limited budget. Perhaps you’re already considering ways to reduce business costs in... June 24, 2019 Why does my UK tech startup need professional accountants? Starting a business in the competitive UK tech market means staying on track with all the latest innovations within your field. One vital consideration for any UK tech startup is accountancy and ensuring the business is up-to-speed with all legal obligations relating to payroll, PAYE,... June 14, 2019 How to handle PAYE as a small business owner For any small business owner, continuous growth and an increased customer base is part of the long-term plan. However, this will also eventually mean you need to hire staff to cope with this extra demand. If you have not done this before then it can... June 10, 2019 Missed the PAYE deadline? Here’s how to get back on track This year’s PAYE deadline for employers with payroll was Friday 31 May. So, if you’re reading this and have yet to get round to it, you’re probably a little behind. Every year hundreds of people miss such deadlines, so what happens when a deadline is... June 3, 2019 Three payroll mistakes your startup should not make If you have recently started your own company, then there will be lots to get done. Just getting a foothold in your sector and attracting customers is enough for any startup to be going on with. Alongside this, looking after your payroll is crucial if... May 22, 2019 Why a focus on accounting should be key for all entrepreneurs Entrepreneurs are, by their very nature, interested in doing things differently. They want to embrace change and commit to tasks that go against the status quo. However, while this is a common approach for entrepreneurs and those looking to develop and build small businesses, it... May 18, 2019 Dealing with PAYE is far easier for businesses that outsource their payroll Any small business or startup tends to rely on a few key employees or even just the business owner for most administrative functions. However, it’s not always feasible for the business owner or key administrator to run a payroll effectively. This is even more critical... May 8, 2019 A startup and small business VAT planning strategy If you’re planning a startup or already running a small business, VAT and registering for VAT will be a major consideration. This is particularly the case if you’re close to reaching the VAT threshold or know your startup will go over this limit in the... May 2, 2019 When should a startup business invest in outsourced accountancy? As a startup, you’re likely watching the pennies very closely. Startups generally want to keep as many essential business processes “in-house” as possible, because it cuts costs. While it can technically be cheaper, does that actually mean it’s what’s best for your business? The answer... April 23, 2019 4 VAT mistakes to avoid If your annual turnover exceeds £85,000, then you must register to pay VAT. However, VAT can be somewhat confusing for many small businesses. In order to avoid any penalties down the line, it’s important to make sure you’re following the rules on VAT. Here are... April 18, 2019 PAYE and payroll tips for UK startups UK startups across all business sectors face legal responsibilities to pay employees appropriately. Some factors to consider include ensuring payment of the national minimum wage at the very least and ensuring all essential deductions from salaries. Essential deductions include any necessary repayments of student loans... April 9, 2019 Is your startup or small business ready for digital VAT returns? Any existing VAT-registered business or UK startup planning to register for VAT needs to be fully aware of the new Making Tax Digital requirements and what this means for their business. 1 April 2019 was the deadline for digital VAT returns compliance. Although HMRC has... April 1, 2019 Do you understand RTI reporting for payroll purposes? Running a payroll for any size of business can be a complex matter and government requirements for Real Time Information (RTI) can make this more difficult. Use of RTI means employers – including start-ups – need to report all gross pay, National Insurance (NI), tax... March 25, 2019 For startups, there’s no room for accountancy errors When launching a business, it’s inevitable that money will have to be spent. The key to success is understanding exactly what costs are necessary, and what you will get for your money. Most businesses will need to: acquire or rent office space; purchase day-to-day necessities... March 18, 2019 VAT registration tips for startups SQK Accountancy offers a variety of professional accounting services for startups, including VAT and PAYE. When is the right time to register for VAT is one of the most common client queries we address as a small business accountant in Manchester. This is why we’ve... March 8, 2019 Do you need to hire an accountant or not? When you’re a small business or startup, it’s tempting to look for ways to save money at every opportunity. One question that business owners or self-employed professionals often ask themselves is “do I really need to hire an accountant?” With SaaS accounting software so freely... March 4, 2019 Should I register for VAT? One of the questions we get asked regularly is if you should register for VAT or not. Hopefully, with this blog, we’ll try and answer all the questions you may have. There are some considerations, but it’s not all bad! When should I register... February 28, 2019 Why you need a UTR It’s that time of year when people who are already self-employed are breathing a sigh of relief after filling in their returns, but it’s also the time when a lot of employed people starting thinking about starting their own business too. There are so many... February 11, 2019 VAT efficiency tips Taxes take up a considerable amount of time! They can also cost your business more money than necessary if you’re not submitting your VAT returns in the correct manner. So, with that in mind, read on to discover how to handle VAT more efficiently. Have... February 4, 2019 Are ‘bookkeeping’ and ‘accounting’ one and the same? More often than not, ‘bookkeeping’ and ‘accounting’ are used interchangeably. The truth, however, is that there is a considerable difference between these two practices. So exactly how are they different from each other? To better understand how these two terms vary, it is essential that... January 29, 2019 What every start-up entrepreneur should know… Small and micro businesses are integral to the UK’s economy. In 2018, there were 5.4mn UK micro-businesses, which was a total of 96% of all UK business organisations. A micro business employs between zero and nine workers. Though that might not sound like a lot,... January 21, 2019 Choosing the right VAT scheme for your business Planning for VAT can be difficult for any business. This is a complex tax which is currently being revolutionised due to the UK government’s Making Tax Digital initiative. It’s quite possible for business organisations to under or overpays VAT, and this can cause problems. Any... January 14, 2019 Business payroll administrators need to be aware of income tax changes for 2019-2020 If you run your own payroll system, you need to be aware of all relevant legislation coming into effect in 2019. One of the most important income tax changes which will impact all your workers is the increase in personal allowances which takes effect from... January 3, 2019 Why cloud accounting is safe in the age of cybercrime With more and more businesses performing nearly all of their tasks digitally, it makes sense that instances of cybercrime are on the rise. However, though this is the case, the latest research has discovered that barely half of SMEs in the UK are actually well-versed... December 28, 2018 How to make your Christmas party a tax-allowable expense: 6 top tips The Christmas season is here again and there’s no better time to treat your staff and customers. You may, however, be concerned about the costs involved in throwing a Christmas party. However, if you follow HMRC’s rules and regulations, you may get be eligible for... December 19, 2018 Who should you trust for VAT advice? Here’s how you find the right accountant Taxation, in general, can be a minefield for the inexperienced. Specifically, understanding VAT is something a lot of businesses struggle with. It makes sense, then, for you to contact a specialist for VAT advice. But with so many out there claiming to be experts, how... December 13, 2018 3 accountancy tips for small business owners Small businesses are the very backbone of the UK’s economy. For example, in 2017 over 99% of businesses in the UK were small to mid sized companies (SMEs) with total employees of 249 or less. Although there is so much potential in the UK for... December 3, 2018 A guide to HMRC tax penalties Tax inaccuracies and missed deadlines can lead to companies having a high price to pay. In this blog post, we take a look at HMRC tax penalties in further detail. Late tax returns One of the main reasons why people find themselves facing a fine... November 26, 2018 Should you add yourself to the payroll system? All business owners have a number of different options available when it comes to paying themselves. It can be tricky to make the right decision, as you need to find the perfect balance between your needs and the needs of your business. One option is... November 20, 2018 Use all available business tax breaks to save money on taxes If your startup or existing small business is not making use of all available tax breaks, you could struggle to show profits. These tax saving tips for small businesses may offer the assistance you need: Tax saving tips The following simple tips may provide some... November 2, 2018 The benefits of choosing cloud account accountancy With increasing numbers of services being offered through the cloud, and ever more businesses integrating themselves into this revolutionary technology, it is no surprise that accounting and accountancy have also discovered the benefits. Cutting edge accountancy firms are choosing to incorporate the cloud into their... October 25, 2018 VAT inspections – don’t panic! 3 tips to help any business deal with them If your business is registered for VAT then one thing that will probably stress you out more than anything else is the prospect of HMRC coming to do a VAT inspection! However, this really shouldn’t be the case. As long as your VAT accounts are... October 18, 2018 Need to change accountants? Here’s how to do it An accountant plays a key role in ensuring your long-term financial success. Whether you run a small business, or work for yourself, it’s absolutely essential to have the correct support network in place to keep everything ticking over properly. So what do you do if... October 12, 2018 Here’s a quick solution to your accounting crisis Accounting is an indispensable part of business. It is the source of critical information such as performance records, financial positions and cash flows. With this data, enterprises have an easier time making decisions on how to get ahead of their completion. But for small and... October 3, 2018 Why SMEs shouldn’t do their own accounting Small business often fall into the trap of believing that they’re better off doing their own accounting than outsourcing to a specialist. It’s easy to understand why, if it’s just you and a few employees then surely it’s quicker and easier to just do it... September 24, 2018 3 common VAT misconceptions explained VAT, the dreaded Value Added Tax, is something which can often befuddle and mystify business owners, to the point where it’s worth outsourcing to a professional VAT specialist just to avoid the headaches. While VAT can be a complex beast, there are several long-standing misconceptions... September 18, 2018 3 key qualities your financial services provider must have The benefits of outsourcing your accountancy requirements are well known, but in order to avail yourself of those benefits you need to make sure that you choose the right firm. Remember you’re literally trusting them with your business, so it’s important that any accountancy firm... September 11, 2018 3 most common accountancy mistakes businesses are still making Accountancy in business is a process that’s as difficult or as simple as you want to make it. Businesses of all sizes often complain about the trouble they have balancing their books, but at the same time all too often they’re making one, or all,... August 31, 2018 VAT registration and why you should consider it VAT registration becomes a legal requirement if your business is turning over in excess of £85,000. VAT registration can be done, relatively easily, online through the HRMC website. Though VAT registration is often the cause of headaches and confusion, the reality of the matter is... August 24, 2018 Common payroll system mistakes SMEs make all the time Having an effectively managed payroll system is essential for all businesses. They act as records of wages, taxes and verification of contractor or freelance worker payments, and can be inspected by HMRC at any time. As such, companies must have an efficient and accurate system... August 17, 2018 Cloud accountancy: managing multiple users Having to deal with many employees can prove to be a difficult task. You may want to automate a few things to smoothly run your business. Cloud accountancy enables you to control how your staff accesses your company’s accounting data. It also gives your team... August 14, 2018 Top 3 accountancy tips for new small businesses Starting a new business is both an exciting time and a nerve-wracking one. You’ve taken a giant leap and it’s only right that you have a little support to get you started. At SQK Accountancy, we understand and we want to ensure you have the... July 30, 2018 3 benefits of outsourcing accountancy and payroll services In a modern economy where competition in the market is greater than ever, firms need to take every available opportunity to gain an edge over their competition. Whilst recent trends tend to focus on previously neglected concerns, such as employee welfare and technological innovations, it... July 24, 2018 VAT and your business – the basics explained Many new and small businesses are confused when it comes to fully understanding and working out their VAT. Below we offer some VAT advice with our simple VAT guide. What is VAT? VAT stands for Value Added Tax. This is the tax that is levied... July 16, 2018 VAT tips for SMEs and small business owners Reclaiming VAT is not difficult and is well worth doing, after all if your business is due some money back it does make good sense to reclaim it. Many business owners or finance directors think some aspects of VAT are too time consuming or tedious... July 10, 2018 What are the best cloud-based accountancy software options? Over recent years, accountancy has seen big changes in the way the sector operates. Many clients and accountants have turned to online cloud-based accounting for the many benefits it brings. From increased security to cost reductions and offering a more efficient way to keep your... June 28, 2018 5 payroll tips for small business owners Payroll can be a top concern for small business owners, after all it needs to be correct and employees need to be paid on time. If your business payroll causes you major headaches any time a run is due, follow these simple tips to make... June 25, 2018 The accountancy industry over the next ten years We live in a time where most industries are undergoing massive changes. Technology is continuously evolving, globalisation is making the world increasing more connected, and companies are moving towards commoditisation. All of these factors, and more, are going to have profound impacts on the accountancy... June 15, 2018 Outsourcing accountancy as a non-profit organisation Managing a non-profit organisation is a challenge. Not only do executives need to ensure the organisation is making progress towards achieving their mission, but they also need to comply with growing regulatory requirements, balance the books and leverage resources effectively, amongst many other things. Yet,... June 11, 2018 Why cloud accountancy software is good for startups Starting up in business is an exciting, hectic period in your life when all your time and energies are focused on building up your new company. But, it’s important to put good accountancy habits in place right from the outset of your startup, in order... May 30, 2018 3 costly payroll mistakes for any SME to avoid When it comes to running an SME, looking after your payroll is a key concern. This vital area is not only important for employees but also for your business. Mistakes made here can prove very costly when HMRC pick up on them. For many businesses,... May 24, 2018 Common VAT myths debunked One of the worst things you can do as a business owner or sole trader is to follow incorrect information when basically your business depends on it. However, the internet is home to a plethora of self-proclaimed ‘experts’ that are giving inaccurate advice and information.... May 16, 2018 3 disastrous tax blunders to avoid as a sole trader When it comes to being a sole trader, you need to have all your bases covered financially. Sole traders are held personally liable by the government which means your personal assets could be claimed in relation to any business debts. As such, no distinction is... May 10, 2018 6 tax saving tips for SMEs Small business owners need to make the most of all available tax breaks, and taking utmost advantage of professional advice can help identify some of these. It’s often the case that SMEs manage their own finances and don’t spend enough time researching some of the... April 30, 2018 Accountancy tips for startups Starting your own business is an exciting time, but, beware, it’s important to keep financial records from the very start of business operations. Failing to maintain accurate accountancy records could result in hefty fines from HM Revenue & Customs or even cause your business to... April 23, 2018 Looking to cut costs? Enhance your accounting For small and medium-sized businesses, saving money is always a priority. And, while things like reducing overheads and minimising unnecessary spend on equipment are often at the top of the agenda when it comes to finding areas ripe for improvement, assessing accounting practices can very... April 16, 2018 Introduction to PAYE and payroll for employers As an employer you will generally need to operate the HM Revenue & Customs (HMRC) PAYE system in order to collect the income tax and national insurance due via your payroll operations. If everybody that works for your business earns less than £116 weekly, you... April 10, 2018 Which VAT accounting system should I choose for my business? Any business with a turnover in excess of £79,000 will need to register for VAT purposes, businesses under this threshold can also register for VAT on a voluntary basis. There are three VAT accounting systems in place, so choosing the best system to suit your... March 29, 2018 5 reasons to choose cloud accountancy Much like your photos, your documents and your music, accountancy too is moving to the cloud. This is a common choice for companies around the world since cloud accountancy is internet-based, doesn’t require complex software and is easily accessible from all kinds of devices. Here... March 22, 2018 Accounting tips for bloggers Many bloggers are unaware of the accounting that is required for their business, which leads to the inevitable panic at tax return time! To help avoid this, we are outlining the fundamental concepts that bloggers should be aware of: Tax registration If you are new... March 15, 2018 Common VAT mistakes to avoid VAT can be a time-consuming and confusing task. When trying to run a business, getting to grips with all aspects of VAT can be a bit of a nightmare. With that in mind, read on to discover some of the most common VAT mistakes businesses... March 12, 2018 Why cloud accountancy is the future When something comes along which fundamentally changes the way people think, it can lead to hesitancy and scepticism. This is what has happened with “the cloud” as it’s commonly known, where data and software are held on remote servers. A better way of accounting With... February 20, 2018 GDRP and the importance of security Hardly a day goes by without an article appearing in a national newspaper detailing a data leak, some kind of digital security flaw, or the latest cybercriminal activity to be on the lookout for. Taking care of important and sensitive documentation can be a complicated... February 13, 2018 How to get the most out of financial planning for your business Get your financial planning right, and you can ensure the longevity of your business. Decisions are based on sound knowledge and research, and performance maximised through efficiency and clarity of direction. Get it wrong, and it could spell disaster for your company. Basic financial planning... February 6, 2018 5 key accountancy tips for small business owners When running a small business it is important to get the finances right. Many small business fall short because of mistakes and commonly these relate to accountancy, VAT and import or export duties. Following these 5 key accountancy tips will help you to keep your... February 1, 2018 3 ways to simplify your bookkeeping as a sole trader Bookkeeping and accountancy are dirty words to a lot of sole traders. You’re already putting a huge strain on your time and effort to keep your business afloat without having to worry about managing your cash flow. Though bookkeeping may seem daunting when you’re self-employed,... January 19, 2018 Should you register as a limited company in 2018? If you’ve had a good year trading as a sole trader in 2017 then it might be time to look ahead and consider registering as a limited company in the 2018-2019 tax year. There are accountancy benefits to registering as a limited company but it... January 12, 2018 Top tips to get your accounts sorted in 2018 2018 is here, so it’s time to get organised and ready. There is nothing worse than an overflowing bag of receipts or piles of bank statements that seem like they’re never-ending. Take control so your 2018 is less stressful in the office than your 2017.... January 5, 2018 Why accountants can help SMEs prosper and grow Many small businesses in the UK are currently going through an extended period of uncertainty. Worries over the long-term effects of Brexit, combined with an economy that is growing slower than many experts had predicted, has resulted in ambitions for business growth being put on... January 2, 2018 How to choose an accountant for your new business in 2018 If you have recently started a new business, or are planning to in 2018, then there are lots of different things to think about. In amongst all the nuts and bolts of the core business that takes place, the subject of accountancy can become lost.... December 20, 2017 Why shoud you consider using an online payroll solution? There is little doubt that payroll is one of the most essential areas within a business that employs staff. Not only will your employees not be happy if their pay is late or incorrect, but it is vital in terms of your legal responsibilities. Correct... December 12, 2017 Why you should seek VAT advice Taxes and VAT are a nuisance that every business owner has to deal with. While paying taxes is an accepted part of life, having to spend time and money working out how to pay taxes can be beyond frustrating. It is, however, worth taking the... December 6, 2017 3 accountancy tips for freelancers If you have just set-up as a freelance worker then there is no doubt it is an exciting time. The ability to work in a career you love and the flexibility it brings is superb, as is the chance to say goodbye to that morning... November 29, 2017 3 superb book-keeping tips For any company, a key consideration lies in ensuring accurate accountancy for your business. Registering with HMRC along with making sure you maintain excellent business records to complete your tax return are essential. Most businesses will use an accountancy firm to do this as it... November 21, 2017 Key accountancy considerations for sole traders Setting up as a sole trader means that you will become responsible for your own accounts, taxes and books. For many this is an unwanted side effect of turning self-employed, but it is vitally important that you get it right. Failing to manage your accounts... November 13, 2017 A Guide to VAT MOSS You may have come across the term VAT MOSS if you run a company that provides services online. In this blog post, we will reveal exactly what it is, as well as details on VAT registration for MOSS. What is VAT MOSS? If you supply... November 7, 2017 Why thinking big means assisting the small The world of accounting is full of stereotypes – most of them outdated and redundant – that give a false impression of what accountants do and where they can add value to companies. The films and TV shows would have us believe that accountants are... November 1, 2017 Common VAT Mistakes Even if you have a clear system for monitoring VAT administration, and staff trained to use it, in reality, you are susceptible to slip-ups, especially at times of pressure. Errors can slip through that could be insidiously costing your company money. Worse still, you could... October 16, 2017 What business expenses are tax deductible as a sole trader? If there is one area around accountancy as a sole trader that can seem complicated, it is which expenses are tax deductible. Most sole traders will find this area tricky to navigate when completing their tax return for the year. In a very simplified form,... October 9, 2017 The top five benefits of cloud accountancy If you are fed up of spending vast amounts of time sorting financial paperwork and battling with a slow computer, cloud accounting could streamline your accounting process. Not only will your accounting be much more simple, you will also be far more up to date... October 2, 2017 What are the key payroll management mistakes businesses make? Payroll management is absolutely vital for any modern business. As with any accounting task, however, it’s important to ensure you steer clear of the main pitfalls associated with managing payroll. Here are the main mistakes to avoid: Misclassifying employees Modern businesses can be complicated, especially... September 26, 2017 VAT challenges for a growing business Rapid growth in any company is something that most business owners would want to be associated with. Ultimately it means you’re doing something right, but it can also throw up its fair share of challenges. Businesses undergoing rapid growth will need to acknowledge that they... September 18, 2017 The importance of financial statements in business accounting One of the most important aspects of accounting for small businesses is producing annual financial statements. But what types of financial statements should you produce and why? Types of financial statements 1. Invoices Invoices record incoming and outgoing financial transactions between you, your clients, and... August 3, 2017 Accountancy solutions for sole traders As sole traders manage their businesses alone, they are responsible for the administrative, legal and environmental aspects of their operation. With numerous laws and guidelines applicable to businesses, including sole traders, it can be hard to ensure you’re fully compliant. Without specific advice and assistance,... July 27, 2017 The role of accountancy in hotel managment As an accountancy firm that specialises in small and hospitality businesses, we know first hand how important accounting is when it comes to proper hotel management. Without proper knowledge of where money was being spent or how much was left, it would be impossible for... July 18, 2017 Increasing efficiency with cloud accounting For businesses of any size, it’s vital to be as tax efficient as possible. Structuring your business and operations with your tax liability in mind will ensure that you aren’t overpaying when it comes to corporation tax and VAT. Whilst all businesses are liable for... July 13, 2017 4 top payroll management tips for small businesses Efficient payroll management is a major concern for small business owners. Here are a few top tips on making payroll easier. 1. Know important deadlines If you want to retain control of your payroll, it’s important that you know when accounting deadlines and employee returns... June 30, 2017 The changing shape of VAT post-Brexit Who should take the credit (or the blame) for good-old Value Added Tax (VAT)? Our French friends put it down to an idea they had back in the 50s, while our German cousins believe they first come up with the notion many years earlier. The... June 26, 2017 Is your business prepared for digital tax returns? In light of upcoming changes to the revenue process, businesses are facing more regulation than ever. While tax rates will continue to change, there are also practical considerations for companies when it comes to submitting their accounts to HMRC. With many businesses now required to... June 19, 2017 Essential accounting skills for 2017 With the advent of cloud accounting and advances in accounting technology, the landscape of the accounting industry has undergone vast changes – including the skills an accountant is expected to have. So what are the essential accounting skills for 2017? 1. Accounting for knowledge New... June 13, 2017 Three reasons you need cloud accounting software this year The days of Excel spreadsheets and piles of papers are over. With the introduction of cloud accountancy software, businesses are progressing into a new era filled with more accurate data and more manageable finances. Even the government is supporting the introduction of cloud accountancy with... May 23, 2017 Accountancy in 2017: 3 technology trends Accountancy has seen some significant developments over the past few years, some of them hand in hand with technology. Our own organisation has endeavoured to select the most effective of the new technologies available to us, for the benefit of our clients. But which trends... May 17, 2017 SME payroll and new pension laws Every employer in the UK, no matter what size they are or what business sector they operate in, must comply with new pension legislation. The government has created new laws to ensure that everyone saves for their retirement throughout their career – relieving the burden... May 11, 2017 May vows not to increase VAT Theresa May has vowed not to increase VAT, but has not ruled out increases in either income tax or national insurance should the Conservative Party win the upcoming general election. The Prime Minister has also indicated she may scrap the ‘tax lock’ which promised no... May 3, 2017 Make your new accountancy firm fit your business needs! Selecting a new accountant doesn’t have to be a challenge. All you need to have is a firm idea of what is best for your business. Whether you’re a small business that is growing quickly, or a larger firm that needs a breath of fresh... April 24, 2017 The most common reasons why small businesses need an accountant Whether you’re deciding to start up a new company or you’ve been going a few years, it’s likely that there are countless times you have considered hiring an accountant to assist you in the multitude of complex legal issues that you could face. If you’re... April 19, 2017 Should I hire an accountant or get accountancy software? Whether or not you should hire an accountant or use accountancy software is a big question a lot of people ask in business, especially when they’re just starting out and trying to minimise costs. Here we run through the benefits of both to help you... April 18, 2017 4 accountancy mistakes to avoid if you’re self-employed Accounting is a key part of being self-employed. If you get it right you will save money, ensure you meet your tax obligations, and save time. To help you achieve this, here are four accountancy mistakes to avoid if you’re self-employed. 1. Mixing personal and... March 30, 2017 The new flat-rate VAT: what you need to know From 1st April, 2017, a VAT flat rate of 16.5% will apply to limited cost traders. As a result, the VAT owed by affected businesses will rise from this date. Businesses affected will continue to charge customers 20% VAT. How will the new scheme work?... March 24, 2017 The big questions startups should always ask a new accountancy firm Maybe you have just realised you need an accountant. Or maybe your current accountancy firm isn’t delivering. Either way, when you’re a startup business it is essential to ensure you are working with the right accountants. You need to know that the people you are... March 17, 2017 Why your small business should be voluntarily VAT registered If you’re a new business that is under the VAT threshold, you may be thinking about whether you actually wish to be voluntarily VAT registered. It is a decision that a lot of small businesses face and the decision is, of course, yours. Some companies... March 10, 2017 3 simple payroll mistakes made by small businesses Getting your payroll right isn’t as easy as it sounds. Many small businesses make regular payroll mistakes that can cause a massive headache. Here are a few of the mistakes we have encountered at SQK Accountancy, and how you can avoid them. Failing to pay... March 2, 2017 What exactly is cloud accountancy? Chances are you’re well equipped to know what an accountant does. From VAT advice to VAT registration, payroll to end-of-year tax returns, there’s a lot that you can gain from hiring an accountant. But when you hear the words ‘cloud accountancy’, it can feel a... February 23, 2017 Quarterly tax accounts will cost small traders £280, say HMRC HM Revenue and Customs (HMRC) has admitted that the UK’s freelance and self-employed community are likely to have to fork out an extra £280 a year on their tax reporting costs in order to keep up with their impending quarterly digital reporting regime. As part... February 16, 2017 5 signs it’s time to change your accountant When it comes to selecting an accountant to take care of your finances, the choice can be a little overwhelming and this can sometimes cause businesses to make the wrong decision. A good accountant should deliver on their promises. They should be able to make... February 9, 2017 Everything you need to know about self-assessment late filing penalties If you’ve not yet finalised your personal tax affairs for the 2015-16 financial year, time is certainly running out to prepare and submit your tax return to HM Revenue and Customs (HMRC). The deadline for online tax returns to be submitted for the 2015-16 financial... January 30, 2017 3 common business mistakes a good accountant can help you to avoid Running a small business here in the UK in 2017 is no easy task, though with the right help, it can be both lucrative and exciting. Nonetheless, there is a good reason why so many of these fail in the first year. Here we look... January 23, 2017 Five essential payroll tips Keeping up to date with your payroll can be extremely stressful and time-consuming. This is particularly true if you handle your payroll in house. Payroll can swiftly become a nightmare for business owners, but by following our essential tips you will quickly bid goodbye to... January 13, 2017 Confused about exporting? An accountant could help According to the Institute of Chartered Accountants in England and Wales (ICAEW), many British businesses could be missing out on huge financial gains because they have either yet to consider exporting abroad, or because the idea of doing so causes concerns. Research recently carried out... January 9, 2017 3 tips to get your accounts sorted in 2017 An ice cream tub of receipts and a handful of bank statements is every accountant’s nightmare. And often a self-assessment form can be every business owner’s nightmare. But it doesn’t need to be that way – there are some simple strategies that you can put... January 3, 2017 4 easy tips for filling out your self assessment form There are only a few weeks left for you to file your tax return, or you’re in danger of incurring some hefty fines. If you earn an income that doesn’t fall under the PAYE system of an employer, you must file your tax return before... December 23, 2016 Three signs that it’s time to hire an accountant Doing the books is a thorn in the side for most businesses, and whilst many try to do their own to save money, there may well come a time when it’s better to look to an expert for help. Whether you need to seek out... December 15, 2016 How to choose the right accountant for your SME Picking an accountant is like picking a business partner: the right one will support you, encourage you, and help you to thrive, whilst the wrong one will drain your resources and do little to assist your venture. Here at SQK Accountancy, we like to think... December 9, 2016 Why tech is the future of accountancy The world of accountancy is in flux. The industry is in transition, and accountants worth their salt are adapting to new methods and ideas to remain relevant going forward. Traditionally accountancy has been a secure sector. The key tasks carried out by accountants – namely... November 28, 2016 The benefits of letting an accountant handle your payroll When you run a small business, you’ll often find yourself spinning a lot of different plates in order to keep your company running smoothly. From frontline sales and marketing to HR and account management, you won’t necessarily be in a position to have a dedicated... November 22, 2016 What’s the difference between an LLP and a limited company? Selecting an appropriate legal structure for your business is very important, but choosing a structure ultimately depends on the type of operation you wish to run now and in the future. If you’re not a one-man-band and you’re setting up in business with a partner... November 15, 2016 Freelancers: should you become a limited company? At first glance, many freelancers might see becoming a limited company as overkill. A load of paperwork and extra stress, and for what? We often see limited companies as something for people with offices and employees, but for the right freelancer, the switch could save... November 9, 2016 DIY accountancy for small businesses: is it worth it? When you’re a small business owner, multitasking is often a way of life; if margins are tight, you have to roll up your sleeves and become a one-person sales team, admin assistant and marketing manager. After all, if you can fit in a quick round... October 28, 2016 Accountants: a start-up’s best friend When starting your new business, there are a million things to think about: your name, your business plan, your staff, your targets and your branding. Financials can seem like a huge challenge to any entrepreneur, and often get forgotten about until the letter from HMRC... October 21, 2016 5 essential rules of good accounting Let’s be honest – not many people in business like accounting. Accounting is necessary, however, and, when done right, can make your business stronger, more profitable, and agiler. As a starting point, you should follow these five essential rules of good accounting in your business.... October 14, 2016 How to use VAT to improve your cashflow Cashflow is a major issue in business. Even six and seven figure businesses can run into trouble if their cashflow isn’t managed properly. At first blush, VAT seems to be the enemy, but if you work it right you can actually improve your cashflow through... October 10, 2016 What could Brexit mean for VAT? The referendum vote in favour of leaving the European Union has left a lot of people wondering what will happen in different areas of business, tax and finance. As VAT is an EU centralised tax, this has left many businesses feeling the need for professional... September 28, 2016 What does Making Tax Digital mean for your business? The faces in the Government might have changed but Making Tax Digital, one of former Chancellor George Osborne’s flagship policies, shows no signs of being derailed. It’s been described as the biggest shake-up in tax reporting since online tax returns were first introduced, but what... September 22, 2016 9 ways your accountant will save your business money Yes, you need an accountant for tax planning and administration – but your chosen firm can also save your business valuable money and time. Let’s take a closer look: 1. Getting it right from the start A good accountant won’t just deliver tax planning and... September 14, 2016 How exactly can an accountant help me? The traditional perception of an accountant is that they work with companies and individuals to ensure tax returns are filed on time and accurately. Perhaps, if you’ve watched too many films, you may also regard accountants as people that have eternally growing piles of unordered... September 8, 2016 What is the future focus for accountancy? The ever changing world we live in brings a new set of challenges to all industries, with accountancy being no different. So what are the main focus points accountants and businesses must embrace to remain competitive? Cloud adoption The ability to access data anytime, anywhere... August 30, 2016 6 questions to ask your accountant The life of a small business owner is largely centred around balancing the books and ensuring the company can survive another year. To remain on a sound financial footing, seeking advice and support from professionals is essential; but what exactly should you ask an accountant... August 22, 2016 The accountancy landscape is changing The stereotype of accountants being number-loving, grey jacket-wearing, soft-spoken middle-aged men is fading fast. The sector is changing by moving with the times, and the next generation of accountants will be required to have a wider range of skills and abilities. In the past, accountancy... August 15, 2016 4 common problems start-ups experience when hiring in-house accountants When starting a new business, hiring the right staff for your accounting and payroll department can be a difficult and daunting prospect, especially if you aren’t from a financial background yourself. How do you know where to begin? How do you know whether candidates have... August 9, 2016 Handling a HMRC inspection for small-medium enterprises Most small business owners tend to get stressed at the prospect of an inspection from Her Majesty’s Revenue & Customs. At best, it can be an inconvenience which takes up time when you could be otherwise getting on with day-to-day business, and at worst it... July 28, 2016 The basics of VAT registration As your business grows, you must remember to register for VAT. Does your company need to do it, if so, when, and what else do you need to know about it? Here are the basics. Does your company need to register for VAT? Some companies... July 20, 2016 4 reasons why new businesses should outsource their accounting and payroll You’ve just started a new business, and you’ve already conquered some of the more difficult problems that come with getting established. Yet now that you’re ready to begin trading, you need to consider a long term approach to your accounting and staff payroll. Maybe you’ve... July 13, 2016 Benefits of cloud accountancy systems for small businesses As the owner of a small business, there will always be some administrative work waiting on your desk, whether it’s running the monthly payroll or dealing with the end of year accounts, and often these can be left until the last minute. Rather than trying... July 6, 2016 Changes Buy to Let Owners Need to Know About From the 1st April 2016 and during 2017, there are some new changes coming into effect which will impact people buying Buy to Let properties. The new rules cover stamp duty, mortgage relief, wear and tear costs and safety rules. Here the changes are explained,... February 12, 2016 Do you make errors on your VAT return? Have you submitted your VAT Return to the HMRC and just realised you made a mistake? How can you tell HRMC about it, when, and how can you make adjustment to your accounts and, of course, your return? All that and more will be discussed... February 10, 2016 How your business can save money by being green! Paper Sometimes using loads of paper can’t be helped, but if you do use paper then make sure you use both sides. If you can’t then cut up any spare pieces and use them for taking notes. You can bundle some up and staple them... February 2, 2016 What to do if you miss the tax deadline If you missed the deadline for filling a paper tax, which is 31 October, or online self-assessment submissions (SA100 or SA200), which is 31 January, there is not much you can do. However, know that the more you delay, the more fine you’ll have to... January 23, 2016 Registering with HMRC for the first time If you decide to work for yourself, you are called a sole trader. A sole trader must register for Tax and National Insurance. A trader is someone that sells, makes items or offers a service for profit. Working for yourself means being responsible for your... January 22, 2016 More ways to Finance your Start-up Business If you are still trying to get a loan for your start-up, here are some additional ways you could finance your business. Grants Whether you are eligible for a grant or not will depend on your business or background. Bear in mind that it’s very... January 14, 2016 How to Finance a Start-Up Business Most aspiring entrepreneurs are concerned about the lack of capital that could help them back up their viable idea to start a business. However, once you know where to look, securing funding won’t be as daunting as you thought it would be! There are lots... January 8, 2016 How the Marriage Allowance Works The Marriage Allowance enables you to reduce your tax by up to £212. This is achieved by transferring up to £1,060 of your personal allowance to your husband, your wife, or your civil partner. Your personal allowance is the part of your earnings that you... December 22, 2015 How a Small Company can Win its First Contract with the Big League Landing your first contract with one of the biggest firms out here can be difficult, especially if you are self-employed or a small business. Of course, signing a big client will open doors for you and bring credibility. But, getting there seems rather far-fetched. Or... December 22, 2015 Dealing with Difficult Clients Unfortunately, all small businesses have difficult clients. They contact you out of office hours, they want a blow by blow account of the work you’re doing for them, they know better or they want the job doing yesterday. Here are four ways to make your... December 15, 2015 Payroll Questions Answered: Employees’ Pay & Deductions As an employer, you are obliged to operate PAYE, as part of your payroll, unless none of your employees is paid more than £112 a week, has another job, gets expenses and benefits or gets a pension. However, you do need to record their wages... December 13, 2015 VAT Record Keeping A VAT Registered business must issue VAT invoices. These rules are for businesses which don’t use the VAT Margin Scheme. Valid invoices must be on paper, or issued electronically. You must keep a record of the invoices issued, even if you write one out by... December 7, 2015 Small Businesses: VAT-related FAQs Small business and start-ups have lots to think about regarding their operations, especially when it comes to VAT and related issues. For that reason, we have compiled a list of the most frequently asked questions, answered by our experts in a simple fashion saving difficult-to-understand... October 31, 2015 How to change your Year End Date and how it can benefit you? If you want your financial year to run for more, or less than 12 months, you can change your company’s financial year end. You can apply online, by post or ask a company like SQK Accountancy in Manchester to help you with your application. You... October 28, 2015 What information do you need for new starters? If you have a new employee, you will need certain information from him or her, in order to set up PAYE and in order that the new employee’s first wage slip contains all the appropriate information. If the new employee has a P45 this will... October 25, 2015 VAT for property: Zero-rated & Exempt If you are considering to make a property transaction, it is critical to understand the difference between exempt and zero-rated VAT. Here are the basics for your reference. Residential Property If you have an existing residential property (i.e. a house) that you rent or... October 17, 2015 Flat Rate VAT: What you Need to Know In the middle of a rather confusing landscape surrounding the VAT changes and the impact it could have on the Flat Rate Scheme, it is best to navigate through the potential traps, possible savings, and, of course, benefits. Although it appears to be attractively simple... October 3, 2015 Starting your business (Part 3) Now that you have sorted things out, it’s time to deal with the legalities around your business and decide which legal structure will best suit your business. This has to be done prior registering for tax and, of course, start trading. In brief, there are... September 26, 2015 Setting up a Small Business (Part 2) In our previous article, we covered aspects related to how you can turn your idea into a business, and also discussed funding sources that you could use. This article will show you how to research your market, develop a business plan that actually works, and... September 15, 2015 VAT and Selling to EU Countries If you are selling, supplying or transferring goods from the UK into another country, it may well be that you have to charge VAT. If the goods are going to someone else who is registered for VAT in their own country or you are exporting... September 13, 2015 Setting up a Small Business: Step-by-Step Guide (Part 1) Starting a small business involves immaculate planning and critical financial decisions, alongside a series of legal activities. To help you plan, prepare, and manage your new business, here is the first part of a guide with all the essentials you need to know. Of course,... September 10, 2015 VAT Recharge Scheme: FAQs Following our article regarding the VAT Recharge Scheme put in action January 1, 2015, where we provided you with the basics of the new legislation, here are the most frequently asked questions answered by our accounting specialists. Q: I have a small business that sells... September 4, 2015 Starting your own Business Tax and Vat If you are thinking about starting a business, you should begin by writing a business plan. This outlines the ideas you have for your product or service. You can get help for your business ideas from: The National Enterprise Network (England) Business Gateway (Scotland) NI... August 24, 2015 The EU Reverse Charge Scheme: How does it work? From 1 January 2015, the EU reverse charge scheme has caused great controversy and opposition, especially among micro-businesses that are now seriously reconsidering trading in Europe. According to the new legislation, VAT is charged in the country that products are purchased, rather than the country... August 24, 2015 The Importance of Management Accounting Education on SME Performance Considering that SMEs (99% of all UK enterprises) employ about 60% of the country’s workforce, they are the backbone of the UK economy. However, what most entrepreneurs don’t realise is the importance of accounting management and how it can contribute to their business growth, helping... August 23, 2015 Do I Need to Register for CIS? If you pay sub-contractors to do building work for you and you are for example a: • Builder • Labour Agency • Gang Master • Property Developer You must register as a contractor with the Construction Industry Scheme (CIS). You should also register even if... August 18, 2015 5 Accounting Mistakes SMEs Make Running a business is never easy. As a matter of fact, it can be quite challenging at times. We occasionally meet business owners that have placed crucial tasks on the backburner and dedicate all their time and their energy in the daily functions of their... August 17, 2015 The Importance of Payroll Most small business owners find themselves performing multiple roles for their company. With their plate always full, completing payroll can be a real challenge considering the fact that they need to be well versed in accounting, remember all the deadlines, and be willing to research... August 15, 2015 VAT Exempt goods VAT Exempt Goods There are some goods and services that are exempt from VAT and this means that if you sell these goods, you can’t claim the VAT on the purchases or any expenses. Below is an example of goods and services that are exempt... August 15, 2015 Contact UsSQK Accountancy Ltd Jactin House, 24 Hood Street, Manchester, M4 6WX Phone: 0161 706 0444 Email: Info@sqkaccountancy.co.uk Next Workshop There are currently no events. Request A Call Back I consent to my data being held for the purposes of communication Copyright © 2015 - Present. SQK Accountancy Ltd. 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Send us a message or come and say hi Your Message Your Name (required) Your Email (required) Subject Your Message I consent to my data being held for the purposes of communication Registered Office SQK Accountancy Ltd Jactin House, 24 Hood Street, Manchester, M4 6WX Phone: 0161 706 0444 Email: Info@sqkaccountancy.co.uk Contact UsSQK Accountancy Ltd Jactin House, 24 Hood Street, Manchester, M4 6WX Phone: 0161 706 0444 Email: Info@sqkaccountancy.co.uk Next Workshop There are currently no events. Request A Call Back I consent to my data being held for the purposes of communication Copyright © 2015 - Present. SQK Accountancy Ltd. 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var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-65045388-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); Small Business Accounting Starting a business For New Businesses For Existing businesses Need help as a sole trader? VAT Online Payroll Free Resources Workshops Blog About Us Contact Small Business Accounting Starting a business For New Businesses For Existing businesses Need help as a sole trader? VAT Online Payroll Free Resources Workshops Blog About Us Contact Tax Changes in 2026: What You Need to Know About Making Tax Digital 05 Nov Tax Changes in 2026: What You Need to Know About Making Tax Digital Posted at 08:00h in Making Tax Digital by SQK Accountancy 0 Comments Let’s be honest, when you hear the words “tax changes,” your brain probably starts to switch off. We get it. You’ve already got enough on your plate running your business. But there’s a big change coming in April 2026 that you really can’t afford to ignore. It’s called Making Tax Digital, and if you’re a sole trader earning over £50,000 a year, it’s going to affect how you keep your records and report your income. But don’t panic! We’re here to walk you through it. Here is our clear guide to what’s changing and what you need to do to get ready. What Are These Tax Changes All About Then? From April 2026, the way you handle your taxes is going digital. That means: If your income from self-employment or property is over £50,000 in the tax year before, you’ll be required to keep digital records You’ll need to send quarterly updates to HMRC using approved software Paper records and once-a-year tax returns will be a thing of the past (at least for those who meet the threshold) And just so you know, this is only the beginning. The £50,000 threshold is just the first wave. Eventually, many more sole traders will be brought into the new system, so it’s worth knowing what’s ahead even if you’re not caught up in it just yet. Why These Tax Changes Matter You might be thinking, “Why the sudden shift?” These tax changes are all about improving accuracy and reducing last-minute panic. But for you, the biggest reasons to pay attention are: Avoiding penalties: the new system has rules and deadlines you’ll need to stick to Saving time in the long run: quarterly updates mean less of a mad rush every January Better visibility over your finances: which is never a bad thing when you’re trying to grow And look, if you’re already someone who prefers to stay organised and on top of things, Making Tax Digital can actually be a positive shift. Steps You Can Take to Get Ready Let’s break it down. Here’s what you can do now to get ahead of these tax changes so they don’t sneak up on you. 1. Work Out If You’ll Be Affected Check your last tax return. If you earned over £50,000 from self-employment or property, you’re in the first wave. If you’re close to the threshold, best to get prepared anyway. 2. Get Familiar with Digital Bookkeeping If you’re still using spreadsheets (or worse, a shoebox full of receipts), it’s time to upgrade. You’ll need Making Tax Digital-compatible software. We can help recommend and set this up with you. 3. Start Organising Your Records Get into the habit of logging income and expenses regularly, not just at the end of the year. The better your records, the easier your quarterly submissions will be. 4. Set Up a Routine You’ll be required to send updates every three months. That’s not too scary if you’ve got a system in place. Add a recurring calendar reminder now (future you will thank you). 5. Ask for Help Early This is a big shift, especially if you’ve always handled your taxes in a certain way. Don’t leave it to the last minute. Ask questions, test out software, and get support before it becomes urgent. What Could Go Wrong (And How to Avoid It) Some common hiccups we’ve seen when it comes to new tax changes: Leaving it until the deadline: Bad idea. It’ll be stressful and costly if you get it wrong. Thinking the software does everything: Even the best software still needs good data going in. Not budgeting for new tools or support: There might be a small cost upfront, but getting it wrong could cost more in the long run. If you’re not sure what you need, just ask. You don’t need to guess your way through it. How SQK Can Help We work with sole traders and small businesses just like you every single day. We know that tax changes can feel overwhelming, especially when you’re trying to keep everything else ticking along. Here’s what we can do to make life easier: Help you work out if and when you’re affected by the new rules Set you up with easy-to-use, compliant software that works for your business Keep your records clean and up to date, so those quarterly updates are a breeze Give you real, human support when you’ve got questions or just need to double-check something Make sure you’re not overpaying, under-prepared, or scrambling to catch up So, if you’re feeling unsure or want a hand getting started with the upcoming tax changes, just get in touch. We’re happy to talk it through. Related Posts:Making Tax Digital: It’s Time to Prepare, Are You Compliant?Tax Saving Tips: 3 Strategic Ways to Reduce Your Tax BillTax Planning for Small Businesses: Navigating the… Share Print page 0 Likes No Comments Sorry, the comment form is closed at this time. Search for: Categories Accounting Accounting Software Bookkeeping Business Cloud Accounting Finance Law freelancer and sole trading accounting General Hospitality accounting Limited company accounting Making Tax Digital Payroll Saving Money Self Assessment Small business accounting Start up business accounting Start-Ups Tax penalties VAT Year End Accounts Recent Posts Cloud Accounting Benefits for Small Businesses Tax Changes in 2026: What You Need to Know About Making Tax Digital Could You Have Paid Too Much Tax? Business Record Keeping: What to Keep and For How Long Onboarding Your First Employee: A Step-by-Step Guide Archives Archives Select Month November 2025 October 2025 September 2025 August 2025 July 2025 June 2025 May 2025 April 2025 March 2025 February 2025 January 2025 December 2024 November 2024 October 2024 September 2024 August 2024 July 2024 June 2024 May 2024 April 2024 March 2024 February 2024 January 2024 December 2023 November 2023 October 2023 September 2023 August 2023 July 2023 June 2023 May 2023 April 2023 March 2023 January 2023 December 2022 November 2022 October 2022 September 2022 August 2022 July 2022 June 2022 May 2022 April 2022 March 2022 February 2022 January 2022 December 2021 November 2021 September 2021 August 2021 July 2021 June 2021 May 2021 April 2021 March 2021 February 2021 January 2021 December 2020 November 2020 October 2020 September 2020 August 2020 July 2020 June 2020 May 2020 April 2020 March 2020 February 2020 January 2020 December 2019 November 2019 October 2019 September 2019 August 2019 July 2019 June 2019 May 2019 April 2019 March 2019 February 2019 January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017 July 2017 June 2017 May 2017 April 2017 March 2017 February 2017 January 2017 December 2016 November 2016 October 2016 September 2016 August 2016 July 2016 February 2016 January 2016 December 2015 October 2015 September 2015 August 2015 /* <![CDATA[ */ (function() { var dropdown = document.getElementById( "archives-dropdown-2" ); function onSelectChange() { if ( dropdown.options[ dropdown.selectedIndex ].value !== '' ) { document.location.href = this.options[ this.selectedIndex ].value; } } dropdown.onchange = onSelectChange; })(); /* ]]> */ Contact UsSQK Accountancy Ltd Jactin House, 24 Hood Street, Manchester, M4 6WX Phone: 0161 706 0444 Email: Info@sqkaccountancy.co.uk Next Workshop There are currently no events. 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Find out more about our team members below, and come and say hello if you see us out and about. Chris Vickers and Angus Parkers Chris is the Director and founder of SQK accountancy. He is a fully qualified Accountant; and started SQK in 2015 as he saw there was a gap in the market for an approachable, young, accountancy team to help small and micro-businesses to get started. He also helps small businesses to understand the ever so slightly confusing tax system! Chris has close links with the business community in Manchester, and has partnerships with a variety of business support services. He can often be found working in Use.Space When he is not working, he is interested all things nerdy including playing board games and drinking good quality ale where ever it can be found in Manchester (though not always at the same time). Angus is the chief of relaxation and distractions from work alongside being the family member of Chris. He enjoys eating everything within sight (with a particular taste for rugs) and loves to meet new people. Joe Hayes Joe is a Manager who has been part of the team since February 2020 Joe is a Senior Accountant who possesses a strong grasp of multiple branches of Accountancy. His technical knowledge and extensive experience help ease the transition for new clients looking to develop their own financial system. He is passionate about helping start-ups grow to the best of their ability. In his spare time, he can be found hunched over a good book and is particularly fond of travelling. Chantelle Norcross Chantelle is a Senior Accountant and joined the team in early 2021. She comes from a contractor background so is excited to expand her knowledge with the variety of clients at SQK. She is ready to start her professional qualifications, with the goal of reaching a chartered status within the next few years. In her own time, she enjoys socialising with friends and binge watching tv shows. Arminda Correia Arminda joined SQK Accountancy as a Payroll Assistant and bookkeeper in August 2022. She handles most of the payrolls and She also performs some monthly bookkeeping activities. She plans to start her AAT Level 4 soon with the goal of reaching a full AAT accountant qualification. Outside work, she enjoys spending quality time with her family as she is a mother of three kids. Sam Hodkinson Sam joined SQK Accountancy as an Assistant Accountant Apprentice in October 2022 and is now a Semi-Senior Accountant. Sam has completed his AAT qualification and is currently working towards chartered status. He enjoys working with clients and has experience in the accounts process from start to finish. Outside of work he enjoys travelling and going to the gym. Chris Twell Chris has joined as an apprentice and is working to achieve his level 3 in AAT. He enjoys learning new skills both on the job and through his studies. He is currently learning how to handle everything from wages to annual accounts. Outside of work he enjoys football, golf and spending time with his family and friends. Read the lastest accountancy articles FOR SMALL BUSINESSES Cloud Accounting Benefits for Small Businesses Managing your business finances might not be the most exciting part of running your own company, but it’s one of the most important. Whether you’re just getting started or you’ve been in business for a while, staying on top of your books can feel like... November 12, 2025 Tax Changes in 2026: What You Need to Know About Making Tax Digital Let’s be honest, when you hear the words “tax changes,” your brain probably starts to switch off. We get it. You’ve already got enough on your plate running your business. But there’s a big change coming in April 2026 that you really can’t afford to... November 5, 2025 Could You Have Paid Too Much Tax? When you’re running your own business, tax can feel like one of those things you just want to get out of the way. You file your return, make the payments, and hope it’s all correct. But what if you’ve actually paid too much tax without... October 29, 2025 Business Record Keeping: What to Keep and For How Long When you run a business, you hear a lot about the importance of keeping records and paperwork. We know what you’re thinking. “Surely I don’t need to keep every single receipt, do I?” Business record keeping isn’t the most glamorous part of running your business,... October 22, 2025 Onboarding Your First Employee: A Step-by-Step Guide Onboarding your first employee is a big milestone. It usually means your business is growing, you’re getting busier, and it’s time for some much-needed help. But the process of bringing someone on board can feel overwhelming, especially when it’s all brand new. We’re here to... October 15, 2025 Hiring Your First Employee? Here’s What You Need to Know Bringing someone new into your business is a big moment. It usually means you’re growing and need more hands on deck, which is a fantastic sign of progress. But before you dive into hiring your first employee, there are a few things to consider to... October 8, 2025 Changing Your Company Year End Date? Here’s What You Need to Know Running a business means keeping an eye on your finances all year round, but your company’s official financial year doesn’t always line up neatly with how you actually trade or plan. If your current year end doesn’t work for you anymore, you might be wondering... October 1, 2025 Should You Change from Sole Trader to LLP? When you’re running a business on your own, setting up as a sole trader is often the simplest and quickest route. You’ve got full control, less paperwork, and you can get going straight away. But as your business grows, things might start to feel a... September 24, 2025 Hidden Costs of Running a Small Business: What to Watch Out For When you’re running a small business or working as a sole trader, every penny matters. You know your turnover, you check your bank balance regularly, and you’ve got a rough idea of your biggest outgoings (we hope). But what about the ones that creep in... September 17, 2025 How To Organise Your Business Receipts: Take Charge of The Chaos If you’re running a small business or working as a sole trader, you’re probably juggling a lot and organising your business receipts might be one of the balls you are dropping (we presume so if you are reading this blog). But we’re not judging, in... September 10, 2025 Basic Bookkeeping: A Small Business Owner’s Guide If you’re running a small business or working for yourself, you’ve probably already discovered that there’s more to it than doing the job you love. There’s admin, emails, chasing payments… and yes, bookkeeping. We know it’s not the most exciting part of your day. But... September 3, 2025 How to Separate Personal and Business Finances (Without the Stress) When you’re running a small business or working for yourself, it’s easy for personal and business finances to start blending together. One minute you’re buying a coffee with your personal card, the next you’re paying a supplier from your personal bank account. It feels quicker... August 27, 2025 Salary or Dividends: What Should you Pay Yourself? When you’re running your own business, one of the big decisions you’ll face is how to pay yourself. Should you pay yourself a salary or dividends, or a mix of the two? It might sound like a technical choice, but it can make a real... August 20, 2025 5 Tips To Protect Yourself From Late Payments. If you’ve had clients running late on invoices, you’re not alone. In fact, a survey has found that 77 per cent of SMEs are owed money from late payments. Late payments cause delays to your cash flow, make planning harder, and can cause financial stress... August 13, 2025 Late Payment Protection – Support For Small Businesses Every day, dozens of small businesses close because they aren’t paid on time. That’s set to change. The government is preparing tough reforms to make sure small firms are treated more fairly and are protected from the devastation that comes from consistent late payment. In... August 6, 2025 Why Online Payroll Makes Life Easier If you’re juggling clients, invoices, and marketing, the last thing you need is payroll taking up hours every month. That’s where online payroll steps in. SQK is here to show how switching to an online payroll service can reduce stress, cut errors, and give you... July 30, 2025 Starting a Business? Here’s What You Need to Know So, you’re thinking about starting a business? First off, congratulations! Whether you’re going solo or launching a small venture, getting your business off the ground is a big (and exciting) step. At SQK, we know there’s a lot to think about. From registrations to finances,... July 23, 2025 How to Build a Flexible Business Strategy to Grow and Scale When you run a small business or operate as a sole trader, success often depends on your ability to change with the times. Building a flexible business strategy ensures you’re ready to adapt when markets shift, costs fluctuate, or new opportunities arise. Here’s how to... July 16, 2025 Managing Your Own Business Accounts? Outsourcing Could Be The Key When you’re running a small business or working as a sole trader, it’s tempting to keep everything in-house, including managing your own business accounts. After all, who knows your business better than you? And how hard can it be to keep track of your income... July 9, 2025 Payment on Account: Are You Prepared For The Deadline? If you’re self-employed or running your own small business, this is your friendly reminder to check to see if you need to make a second payment on account (POA) by the 31st July 2025. It’s one of those dates that can sneak up if you’re... July 2, 2025 How to Find a Good Accountant for Your Small Business Finding the right accountant is one of the best things you can do for your business. A great accountant saves you time, helps you avoid costly mistakes, and becomes a trusted part of your team. But how can you make sure you pick a good... June 25, 2025 Making Tax Digital: It’s Time to Prepare, Are You Compliant? If you’re a sole trader or small business owner with self-employment or property income, you must start preparing now for Making Tax Digital (MTD). This isn’t something you can leave until the last minute—HMRC is tightening the rules, and non-compliance could cost you big. Making... June 18, 2025 Messy Bookkeeping: 7 Steps To Take For A Stress Free Tidy-up Running a small business is incredibly rewarding. However, it is also incredibly busy. You are juggling a hundred things at once. Because of this, sometimes your bookkeeping isn’t as slick as it could be and you end up with messy bookeeping that is a nightmare... June 11, 2025 Cash and Accrual Accounting: What Difference and Why It Matters. If you’re running a small business, you’ve likely come across the terms cash accounting and accrual accounting — and wondered what on earth they actually mean. Don’t worry, you’re not alone. Most business owners don’t start out as accountants, and with so many financial terms... June 4, 2025 Bookkeeper and an Accountant: What’s the Difference? If you’re a small business owner, you’ve probably asked yourself this at some point: “Do I need a bookkeeper, an accountant, or both?” It’s a fair question — and one that confuses many business owners. After all, both deal with your finances, right? But while... May 28, 2025 Can You Use an ISA for Business? Here’s What You Need to Know If you run your own business, you’ll likely be thinking about how to grow your money — both for the business and for yourself personally. One option many people turn to is the ISA (Individual Savings Account). But can you use an ISA for business?... May 21, 2025 Charity VAT: What Every Non-Profit Needs to Know VAT rules can be confusing at the best of times. If you’re running a charity, you’ve probably wondered how charity VAT rules apply to you — or if they apply at all. The answer? It depends on what you do, how you earn income, and... May 14, 2025 How To Manage Difficult Customers And When To Say Goodbye Dealing with difficult customers is an inevitable part of running a small business or working as a sole trader. While most clients are a pleasure to work with, some can pose challenges that impact not only your peace of mind but also your financial health.... May 7, 2025 Manage Income Fluctuations With These 5 Super Stratagies Managing income fluctuations is one of the biggest challenges small business owners and sole traders face. When cash flow becomes unpredictable, it can quickly make paying bills difficult, slow down your plans for growth, and even affect your ability to take a salary. The good... April 30, 2025 Bookkeeping for Self-Employed: Weekly Check-Ins Make Tax Time Easier Running your own business means wearing a lot of hats—salesperson, customer service, admin, even cleaner some days. However, you can’t afford to ignore your “finance” hat. As a self-employed person, you must manage your bookkeeping as carefully as the work that brings in income. That’s... April 23, 2025 Wills for Business? Why Every Business Owner Needs One When most people think of a will, they think of personal belongings or property. But if you’re self-employed or run a business, having wills for your business is just as important—if not more so. Without a plan, your business could be left in legal limbo,... April 16, 2025 3 Marriage Tax Allowance Strategies To Improve Your Income Every penny counts when you’re self-employed or running a small business. One often-overlooked way to legally increase your household income is by using the Marriage Tax Allowance. Many small business owners don’t realise they qualify, and that’s money left on the table. In this blog,... April 9, 2025 Business Expenses for Self Employed: Surprising Deductions and Common Mistakes When you’re self-employed, every penny counts. One of the smartest ways to keep your tax bill down is to make the most of business expenses for self employed people. These are the costs you incur while running your business — and claiming them can reduce... April 2, 2025 Tackle The NIC Increase With 3 Winning Business Strategies Starting April 6, 2025, businesses will face a notable NIC increase (National Insurance Contributions) from 13.8% to 15%, with the earnings threshold reduced from £9,100 to £5,000. In other words, employers will pay NIC on more of each employee’s earnings at a higher rate, raising... March 26, 2025 Essential End-of-Year Tax Planning Strategies for Small Businesses As the end of the tax year nears, strategic tax planning becomes crucial for small business owners aiming to optimize financial efficiency and ensure compliance. This comprehensive guide explores essential strategies and considerations to help you navigate the complexities of end-of-year tax planning. Understanding End-of-Year... March 19, 2025 New Statutory Sick Pay Regulations: A Guide for Business Owners As a business owner, it’s crucial to understand and adapt to changes in statutory regulations. This way you ensure compliance and maintain a supportive work environment. The recent adjustments to the Statutory Sick Pay (SSP) system aim to provide clearer and more supportive frameworks for... March 12, 2025 Minimise Tax Liability With These 6 Strategic Planning Methods As the tax year draws to a close on April 5th, it’s crucial for small business owners to consider strategic tax planning. Minimising tax liability not only complies with legal obligations but also enhances financial efficiency. This guide delves into several practical strategies that small... March 5, 2025 The Construction Industry Scheme: Who Needs To Register and Why? The Construction Industry Scheme (CIS) is a pivotal tax deduction scheme in the construction sector, which governs how payments to subcontractors for construction work must be handled by contractors. Understanding whether your business needs to register, and how to manage this process, is crucial for... February 26, 2025 5 Key Questions to Ask Before Hiring an Accounting Firm Selecting the right accounting firm is pivotal for the financial health of your small business. When hiring an accounting firm, the decision should extend beyond surface factors like cost or proximity. This blog discusses crucial questions to ask when hiring an accounting firm and why... February 19, 2025 6 Money Saving Accounting Tips for Small Business Owners Running a small business efficiently involves managing your finances with precision and foresight. Below are our top 6 money saving accounting tips that can help small business owners like you save both time and money, enhancing overall financial management and stability. Our 6 Money Saving... February 12, 2025 Cash Flow Management Mastery in 7 Steps Managing cash flow effectively poses a unique challenge for seasonal businesses, where income fluctuates significantly throughout the year. Understanding how to navigate these ups and downs is crucial to maintaining financial stability and ensuring business continuity. Here are practical strategies to help you optimise cash... February 5, 2025 Tax Saving Tips: 3 Strategic Ways to Reduce Your Tax Bill Navigating tax responsibilities can be complex, but with the right strategies, you can effectively reduce your liabilities. This blog outlines three lesser-known but effective ways to save on taxes, tailored specifically for small business owners. Understanding and implementing these tax saving tips for small business... January 29, 2025 Self-Assessment for New Firms: Master Your Taxes & Avoid Common Pitfalls Starting a new firm is an exciting journey, but it also introduces several responsibilities, including managing your tax affairs through self-assessment. Many new business owners find this process daunting. This blog discusses the common challenges and mistakes associated with self-assessment for new firms, offers solutions,... January 22, 2025 Navigating HMRC Tax Rules for Sole Traders Being self-employed as a sole trader means taking on various responsibilities, with tax management at the forefront. Understanding HMRC’s tax rules is crucial for compliance and financial planning. This guide delves into HMRC tax rules for sole traders. We’ll cover everything you need to know... January 16, 2025 HMRC Audit Why Your Small Business Might Get One: Key Triggers and Preparation Tips Dealing with an HMRC audit can be a daunting prospect for any small business owner. Understanding why audits are conducted and how you can prepare for them is crucial in ensuring that your business remains compliant and avoids potential penalties. This blog will guide you... January 8, 2025 New Year, New Business: Discover Why Outsourcing Your Accounting Makes Sense The start of a new year often brings reflections and resolutions, not just personally but also for your business. If you’re a small business owner, one of the strategic decisions you might consider is outsourcing your accounting. This move can streamline your operations, save costs,... January 1, 2025 Understanding the Critical Difference Between Bookkeeping and Accounting Navigating the financial management of a business involves understanding many critical components, among which bookkeeping and accounting are fundamental. Although these terms are often used interchangeably, they encompass distinct processes and serve different functions within a business. This blog highlights the differences between bookkeeping and... December 18, 2024 Tax-Deductible Expenses Mastery to Maximise Savings The complexities of what classes as tax-deductible expenses can be a daunting task for self-employed individuals. Understanding what qualifies as a deductible expense and how to calculate certain costs, such as gas and electricity if working from home, is essential for maximising your tax return.... December 11, 2024 Unexpected Tax Bill Statement? Take These Proactive Steps Receiving an unexpected tax bill from HM Revenue and Customs (HMRC) can unsettle any small business owner. Such events may lead to financial strain if not addressed promptly and effectively. This guide provides a structured approach to dealing with an unexpected tax bill, ensuring you... December 4, 2024 Weighing the Benefits: Should Your Business Hire an External Accounting Firm? Deciding whether to hire an external accounting firm is a significant decision for any business owner. While the internal team may handle daily financial tasks, the complexities of financial reporting, tax compliance, and strategic financial planning often require specialist knowledge. This blog examines the pros... November 27, 2024 Inheritance Tax Planning: Essential Strategies for Small Business Owners The recent changes to Inheritance Tax (IHT) announced in the 2024 Autumn budget have significant implications for small business owners, particularly those involved in farming. These changes mainly revolve around modifications to Agricultural Property Relief (APR) and Business Property Relief (BPR), aiming to target these... November 20, 2024 How to Pay Yourself as a Business Owner: Strategies for Tax Efficiency Deciding how to pay yourself as a business owner is more than a mere reward for your hard work; it’s a strategic decision that impacts your personal finances and the financial health of your business. This guide outlines the best practices for drawing an income... November 13, 2024 Balance Sheet 101: Mastering Financial Statements for Success One of the most crucial tools in financial management is the balance sheet. This blog will explore what a balance sheet is, its importance, and how small business owners can correctly complete and file this vital document. What is a Balance Sheet? A balance sheet... November 6, 2024 Getting Small Business Accounting Right: Essential Tips and Tools Mastering the basics of small business accounting is crucial for maintaining the financial health of your business. Effective accounting not only helps in complying with legal requirements but also provides you with insights necessary for making informed business decisions. This blog will explore foundational accounting... October 30, 2024 Using VAT for Improved Cash Flow Understanding how to leverage VAT for improved cash flow is crucial for any small business. This guide delves into the strategies that can help you use VAT not just as a compliance measure, but as a tool to enhance your business’s financial health. Understanding VAT... October 23, 2024 Why VAT Registration Can Benefit Your Small Business Value Added Tax (VAT) might seem daunting for small business owners. However, understanding the benefits of VAT registration can shift your perspective. Even if it’s not mandatory, registering for VAT offers several advantages that can support your business’s growth and financial health. The Benefits of... October 16, 2024 VAT for Small Businesses: Everything You Need to Know Understanding VAT for small businesses in the UK is crucial for both compliance and financial health. This guide provides a deep dive into everything from VAT registration to effective management strategies. What is VAT for Small Businesses? Value Added Tax (VAT) Explained: The UK government... October 9, 2024 Understanding Small Business Taxes: A Guide for Business Owners Navigating the landscape of small business taxes in the UK might seem daunting, but understanding it is crucial for compliance and optimal financial management. Here’s a friendly guide to help you understand various taxes, why keeping accurate records is crucial, and what to do if... October 1, 2024 Essential Tips for Maintaining Accurate Financial Records Accurate financial record-keeping is crucial for any business, but it is especially critical for small businesses where resources are often limited, and financial agility is necessary. This guide will provide you with practical tips on how to keep accurate financial records as a small business,... September 24, 2024 How to Calculate Overtime Payments: A Guide for Employers Managing and calculating overtime can be complex, yet it’s crucial for businesses to handle it correctly to ensure compliance with employment laws and to maintain financial health. This guide provides employers with a comprehensive overview of calculating overtime, the importance of accuracy, and the potential... September 17, 2024 What Does a Small Business Accounting Firm Actually Do? Running a small business involves juggling various responsibilities, among which managing finances is crucial yet often challenging. This is where a small business accounting firm steps in, providing expert services tailored to streamline, enhance, and simplify your financial operations. Let’s explore what these firms do,... September 10, 2024 How to Change Your Financial Year-End Date Changing your company’s financial year-end date can be a strategic decision that may lead to significant advantages in terms of tax planning, cash flow management, and administrative convenience. This guide will walk you through the process of changing your year-end date and explain why it... September 3, 2024 7 Common Self-Assessment Tax Return Questions Answered Navigating Self-Assessment Tax Return Filing a self-assessment tax return can be a daunting task, especially for those who are new to the process. Whether you’re self-employed, a landlord, or earning additional income, understanding the ins and outs of self-assessment is crucial to avoid mistakes and... August 27, 2024 Top 8 Questions You Should Ask Your Accountant As a small business owner, you know that having a trusted accountant is vital for your business’s financial health. However, the value of your accountant goes beyond just number-crunching. Asking the right questions can help you make informed decisions, stay compliant with regulations, and ultimately,... August 20, 2024 Accurate Payroll Management for Small Businesses Why Payroll Management Matters Payroll is the lifeblood of any organisation, and getting it right is crucial for small businesses. In this blog post, we’ll delve into why accurate payroll management is so critical, the common mistakes business owners may make when handling payroll themselves,... August 13, 2024 How to Guide to Setting Up PAYE for a New Employee Employee PAYE Setup Essentials Hiring a new employee is an exciting milestone for any small business. However, it comes with a host of responsibilities, particularly in terms of accounting and legal requirements. One crucial aspect is setting up PAYE (Pay As You Earn) for your... August 6, 2024 Understanding VAT guidelines on Gifts, Benefits, and Entertaining Navigating the Value Added Tax (VAT) implications on gifts, benefits, and entertaining expenses can be a challenging aspect of tax compliance for UK businesses. Misunderstandings or mismanagement of the VAT guidelines can lead to unintended tax liabilities or missed opportunities for tax relief. This guide... July 30, 2024 5 Essential Steps for Payroll for Small Businesses. Payroll is often perceived as a daunting task for small business owners. Understanding the intricacies of payroll is essential not only for ensuring accurate payments to employees but also for adhering to legal requirements and avoiding costly penalties. This guide aims to simplify the payroll... July 22, 2024 8 Common Self-Employed Accounting Mistakes Being self-employed comes with a host of responsibilities, one of which is managing your own accounts. Without accounting experience, it’s easy to make mistakes that can cost you time and money. This blog will highlight some common self-employed accounting mistakes individuals make, why they are... July 15, 2024 Inherited Property? Avoid Capital Gains Tax for Business Owners For business owners, inherited property can introduce significant financial implications due to Capital Gains Tax (CGT). This tax can impact your financial planning and the overall growth trajectory of your business, especially when it intersects with your personal and business assets. Understanding how to manage... July 9, 2024 Optimising Tax Strategies: 5 Essential Tips to Maximise Returns Tax season can be a source of stress for many small business owners. However, with the right strategies in place, it’s possible to turn this annual chore into an opportunity to enhance your financial health. Optimising tax strategies isn’t just about compliance; it’s about making... July 2, 2024 Top 4 Best Cloud Accounting Software for Small Businesses Navigating the Best Cloud Accounting Software Options Over recent years, accountancy has seen significant changes in how the sector operates. Many clients and accountants have turned to online cloud-based accounting for its numerous benefits. From increased security to cost reductions and a more efficient way... July 1, 2024 Cloud Accounting Software Top 10 Benefits Revolutionise Your Business with Cloud Accounting Software Cloud accounting software has transformed how small businesses manage their finances. It offers numerous benefits that enhance efficiency and accuracy. This blog explores the top 10 benefits of using cloud accounting for your small business. The 10 Benefits... June 24, 2024 Financial Forecasting 7 Crucial Reasons it’s Vital The Importance of Financial Forecasting Financial forecasting is a critical tool for small businesses. It helps in planning, decision-making, and avoiding financial pitfalls. In this blog, we will explore seven reasons why financial forecasting is crucial for small businesses. 1. Plan for the Future Firstly,... June 17, 2024 Improve Cash Flow Management for Startups in 5 Effective Ways Boost Your Startup with Better Cash Flow Management Cash flow is vital for the survival and growth of startups. Without proper cash flow management, even profitable businesses can face financial difficulties. This blog explores five effective ways to improve cash flow management for startups. 1.... June 10, 2024 Mastering Corporation Tax Filing: The Ultimate Guide Corporation tax is a significant obligation for small businesses. Understanding and managing this tax is crucial. This blog offers a comprehensive guide to mastering corporation tax filing efficiently and accurately. Understanding Corporation Tax Corporation tax is a tax on the profits of limited companies. It... June 3, 2024 7 Accounting Tips Essential for Limited Company Financial Success Running a limited company can be rewarding. However, managing the finances is often challenging. This blog offers seven essential accounting tips for limited companies. Follow these tips to avoid costly mistakes and ensure financial stability. 7 Essential Accounting Tips 1. Separate Personal and Business Finances... May 27, 2024 5 Compelling Reasons Why Businesses Should Outsource Payroll Payroll management can be complex and time-consuming. For many small businesses, it’s a significant challenge. Outsourcing payroll offers a solution that can save time, reduce costs, and ensure compliance. This blog explores the key reasons why small businesses should outsource payroll. Why Outsource Payroll? 1.... May 20, 2024 Avoid These 7 Costly Accounting Mistakes Small Businesses Make Accounting is crucial for the success of any business. Yet, many small businesses struggle with it. Simple errors can lead to significant problems. This blog highlights common accounting mistakes small businesses tend to make and how to avoid them. Common Accounting Mistakes 1. Poor Record-Keeping... May 13, 2024 Navigating VAT Exempt Goods: A Guide for Small Business Owners For small business owners, understanding VAT exemptions can significantly impact financial management and pricing strategies. This blog explores the intricacies of VAT exempt goods, providing clear guidance to help you navigate this complex area of tax law. The Importance of Understanding VAT Exemptions Value Added... May 6, 2024 Financial Forecasting: Empowering Small Businesses Navigating the complexities of the business landscape requires more than intuition; it demands strategic planning and insight. Financial forecasting offers small businesses a roadmap to future growth and stability, allowing owners to anticipate changes, allocate resources efficiently, and secure funding more easily. This guide explores... April 29, 2024 Mastering Cash Flow Management: A Lifeline for Small Businesses Cash flow management is crucial for the health of any small business. It’s all about knowing when, where, and how your money is moving. This guide dives deep into why cash flow management is essential and how to do it right. Why Cash Flow Management... April 22, 2024 Navigating R&D Tax Credits for Small Businesses Innovation is the lifeblood of growth for small businesses. Yet, the financial burden of research and development can be substantial. Here is where R&D tax credits come into play, offering a significant opportunity to recoup some of these expenditures. This blog explores how small businesses... April 16, 2024 Small Business Accounting Essentials: A Comprehensive Guide For small business owners, mastering the art of accounting and bookkeeping is not just about keeping accurate records; it’s about laying a strong foundation for business growth and success. Understanding the intricacies of small business accounting can be the difference between merely surviving and thriving... April 15, 2024 Financial Record-Keeping: Your Guide to Success Far from a basic administrative task, diligent record-keeping is the cornerstone of accurate tax filing. Accurate records are a robust defence in audits, and a critical tool for financial analysis and decision-making. Embedding this practice into your daily operations ensures every transaction is meticulously recorded... April 8, 2024 Small Business Tax Strategy: Maximising Benefits Crafting a small business tax strategy is a crucial step toward financial optimisation and growth. It’s not just about fulfilling tax obligations; it’s about leveraging tax allowances and incentives to bolster your business’s bottom line. This guide explores how small businesses can navigate tax planning... April 1, 2024 Cash Flow Analysis: Key Things to Look Out For At the heart of financial management lies cash flow analysis. This is a critical tool that sheds light on the health of your business by revealing patterns, trends, and potential issues in your operations. By mastering cash flow analysis, you equip your business with the... March 25, 2024 Preparing for Minimum Wage Updates in April As the clock ticks towards April 2024, small business owners stand on the brink of a significant shift in the landscape of employee compensation. April will see Minimum Wage updates (National Minimum Wage) and National Living Wage (NLW) updates. If you employ staff it’s imperative... March 18, 2024 5 Financial Management Challenges in the Hospitality Sector The path to financial stability is often strewn with obstacles. These can undermine the prosperity of even the most flourishing ventures. This guide aims to shed light on five prevalent financial management challenges encountered by hospitality businesses. We provide insights to help you navigate these... March 14, 2024 Tax Planning for Small Businesses: Navigating the New Tax Year With the arrival of the new tax year on 6th April, it’s a pivotal time for tax planning for small businesses. This period usually marks the introduction of new tax regulations, adjustments in rates, and shifts in thresholds, all of which can significantly impact the... March 4, 2024 Accounting and Payroll Tools: The top 7 Managing accounting and payroll tasks efficiently is paramount for small businesses aiming for financial stability and growth. Fortunately, the digital age has ushered in a range of tools and apps for accounting and payroll. These tools and apps are tailored to streamline these processes, empowering... February 28, 2024 Revolutionise Your Finances: Embracing Technology for Success Staying on top of your finances is crucial for success. As a small business owner managing your accounts effectively can be challenging, but with the right tools and strategies, it’s entirely achievable. One key strategy? Embracing technology. In this blog post, we’ll discuss how leveraging... February 19, 2024 Reasons you should outsource your accounting. Managing finances can be a daunting task. Navigating through tax regulations, payroll, and financial reporting demands a level of expertise that can be challenging for business owners to handle on their own. This is where hiring a dedicated accountancy firm, and deciding to outsource your... February 12, 2024 Key Considerations when Hiring A Freelancer So, this year you have made the decision to give yourself a break from wearing all the hats in your business and are making steps to hiring a freelancer. The utilization of freelancers has become an integral aspect of many companies’ operations. The flexibility, expertise,... February 5, 2024 A Comprehensive Guide to Writing Business Plans A business plan is not just a document; it’s the strategic compass that guides your journey toward financial triumph. Crafting a compelling business plan involves meticulous planning and the art of transforming entrepreneurial visions into tangible, strategic roadmaps. This comprehensive guide is your go-to resource... January 29, 2024 Completing Your Tax Return: A Step-by-Step Handbook As the deadline approaches, the mere thought of completing your tax return can induce stress for many individuals. However, with a well-organized approach and a clear understanding of the process, filing your tax return can be a manageable and even stress-free task. In this step-by-step... January 22, 2024 Pros and Cons of Alternative Financing for SMEs In the dynamic realm of Small and Medium-sized Enterprises (SMEs), securing the right financing is paramount for sustainable growth. Traditional avenues like bank loans are still prevalent, but alternative financing options, including crowdfunding and venture capital, have emerged as compelling choices. In this detailed exploration,... January 15, 2024 SME Funding Strategies Launching or expanding your Small and Medium-sized Enterprise (SME) is an exhilarating venture that demands not only a robust business plan but also secure funding. In this comprehensive guide, we will delve into various SME Funding Strategies, from traditional loans to cutting-edge crowdfunding platforms, all... January 8, 2024 SME Setup: Your BiteSize Guide Setting up a Small and Medium-sized Enterprise (SME) is an exciting venture that requires careful planning and consideration. As a professional accountancy firm specializing in SME Setup, we understand the intricacies involved in navigating the complex landscape of business establishment, taxation, and accounting. In this... January 1, 2024 Navigating Your Finances in the New Year If you are a small business, now is most certainly the time to think about gearing up for the challenges and opportunities that lie ahead for your finances in the new year. The beginning of 2024 presents a crucial time for financial planning and preparation,... December 25, 2023 Limited Liability and Sole Trader: Making the Right Choice For business owners, making the right choice between being a limited liability and sole trader is a pivotal decision that can have far-reaching implications for your financial well-being. In this blog post, we’ll explore the differences between these two accounting approaches and outline the pros... December 18, 2023 Top 5 Cloud Accounting Software for Small Businesses Cloud accounting software has emerged as a game-changer in this regard, offering accessibility, convenience, and robust features to help businesses of all sizes. In the UK, cloud accounting software is gaining popularity, and small businesses are reaping the benefits. In this blog post, we will... December 11, 2023 Cloud Accounting Software for Small Businesses Cloud accounting software has emerged as a game-changer, simplifying financial processes and offering real-time insights into a company’s financial health. In the ever-evolving world of business, staying up-to-date with financial management practices is crucial for small businesses to thrive. This blog post will explore the... December 4, 2023 Small business finance: Navigating the Maze In today’s dynamic business landscape, small and medium-sized enterprises (SMEs) play a vital role in driving economic growth and innovation. In this blog post, we’ll explore the availability of small business finance, the regulatory environment, the role of the UK government in supporting business growth,... November 27, 2023 A Stress-Free Guide to Preparing Your Tax Return Tax season can be a stressful time for small business owners and self-employed individuals in the UK. The thought of filing your tax return with HMRC can often induce a sense of panic. However, with careful preparation and the right guidance, you can navigate this... November 20, 2023 Writing a Business Plan and why you need one One of the key tasks that many small business owners often overlook is writing a business plan. In this blog post, we’ll explore why small businesses should write one, how to create one, and the benefits of having one. Why Should You Write a Business... November 13, 2023 Navigating Value Added Tax When Selling to EU Countries Selling to EU countries from the UK has undergone significant changes since Brexit, and one of the crucial aspects businesses need to understand and manage is Value Added Tax (VAT). In this blog post, we’ll delve into what companies should be aware of, what they... November 6, 2023 Dealing with late payers and cash flow issues In the world of small businesses, cash flow issues are a nightmare nobody wants to experience. Without a healthy cash flow, you can’t run your business smoothly, pay bills, invest in growth, and keep your business afloat. The most common issue small businesses seem to... October 30, 2023 What to Expect from the 2023 November Budget As Halloween approaches we thought we’d explore something scary…the 2023 November Budget! Scheduled for the 22nd of November, the Autumn Budget is poised to be a critical event for small businesses in the UK. It’s the time when the government outlines its fiscal plans for... October 23, 2023 Do you really need a small business loan? Whether you’re starting a new venture or looking to expand your existing business, there often comes a time when you might need a small business loan to achieve your goals. In this blog post, we’ll explore the signs that indicate you may need a loan,... October 16, 2023 Selecting the Ideal Financing Solution for Your Small Business Starting and running a small business in the UK is no small feat, and one of the most critical aspects of its success is finding the right Financing Solution. Proper financing is essential for growth, stability, and managing day-to-day operations. In this blog post, we... October 9, 2023 Cost Savings for Small Businesses: Thrive Amidst the Cost of Living Crisis Cost Savings and the cost of living crisis has been a pressing concern for individuals and businesses alike recently. Small businesses, sole traders, and limited companies are no exception. However, with careful planning and smart financial management, they can weather the storm and even find... October 2, 2023 Tax Forms you Need to For Business Taxes What Tax Forms do you Need to Fill out For Business Taxes in the UK? When it comes to running a small business in the United Kingdom, understanding your tax obligations is essential. Navigating the world of business taxes can be a complex task, but... September 25, 2023 Understanding Small Business Taxation: A Comprehensive Guide When it comes to running a small business in the UK, understanding your tax obligations is crucial. From taxable income to deadlines and potential penalties, navigating the world of business taxation can be daunting. In this guide, we’ll break down everything you need to know... September 20, 2023 Tax Implications for Small Businesses: A Comprehensive Guide In the intricate landscape of business operations, tax implications are a constant presence. Small businesses, in particular, are often at the forefront of changes in tax policies that can significantly impact their bottom line. In this article, we will delve into a recent tax implication... September 4, 2023 How to find a Reputable Accountancy Firm Finding a Reputable Accountancy Firm isn’t always as easy as it seems. And with so many options out there, how do you choose the right one? Don’t worry; we’ve got your back! In this blog post, we’ll walk you through the qualifications to look for,... August 28, 2023 The Vital Role of Accurate Payroll Accurate Payroll is the lifeline of any organization, and getting it right is of paramount importance. In this blog post, we’ll explore why payroll is so critical for small UK businesses, the common mistakes business owners may make when handling payroll themselves, and how outsourcing... August 21, 2023 How to Ace Your Year-End Accounts Submission Ah, year-end accounts submission, that dreaded but necessary task that comes around every year. As a business owner or self-employed individual in the UK, it’s essential to be well-prepared to navigate through this process smoothly. In this blog post, we’ll delve into the main important... August 14, 2023 5 Top Accounting Mistakes and How to Avoid Them Accounting mistakes for any business are costly, but especially so for small businesses. Making accounting mistakes can have serious consequences for your business, including financial losses and potential legal issues. In this blog post, we’ll explore some common accounting mistakes made by small businesses and... August 7, 2023 Overcoming financial challenges in a Small Business. There are a fair share of challenges to be faced when starting a small business, including many financial challenges to consider. If you have decided to venture into the world of entrepreneurship and set up your small business. Congratulations, and don’t let our opening sentence... July 31, 2023 Accountant Firm: Why Small Businesses Should Use One Thinking about hiring an external accountant firm or an internal finance team for your small business? As a business owner, managing your finances can be a daunting task, especially when you have multiple responsibilities to juggle. Keeping track of income, expenses, and tax obligations is... July 24, 2023 Cloud Accounting Security: What You Need to Know Our growing reliance on cloud technology means it’s crucial to understand cloud accounting security. In recent years, cloud computing has completely transformed how businesses manage their financial information. Cloud accounting solutions offer numerous benefits but our growing reliance on cloud technology means it’s crucial to... July 17, 2023 Payroll Management – What Businesses Need to Know Payroll management is a critical aspect of running a business. Whether you’re a small startup or a large corporation, understanding the basics of payroll is essential for ensuring compliance, maintaining employee satisfaction, and managing your finances effectively. In this article, we will delve into the... July 10, 2023 Understanding the Role of an Accountant in Limited Company Accounting The role of an Accountant is so important as managing the financial aspects of a limited company is vital. Accountants play a pivotal role in ensuring the accurate recording, analysis, and reporting of financial transactions within a limited company. In this article, we will delve... July 3, 2023 Cloud Accounting Pros and Cons for Small Businesses What are Cloud Accounting Pros and Cons for Small Businesses? Cloud accounting has revolutionised the way businesses manage their financial records and transactions. Small businesses, in particular, have greatly benefited from the convenience and accessibility offered by cloud-based accounting software such as Quickbooks and Xero.... June 27, 2023 Compliance and Best Practices for Payroll in the UK Compliance and Best Practices for Payroll in the UK is essential for any Small Business. Payroll management is an essential aspect of business, and non-compliance can result in significant legal and financial consequences. The process of payroll management includes handling employee wages, taxes, benefits, and... June 12, 2023 Common Accounting Mistakes Small Businesses Make and How to Avoid Them There are some Common Accounting Mistakes Small Businesses often make. Whilst running a small business is an exciting venture, it’s not without risk and often involves a steep learning curve. One area in particular that causes new business owners trouble is the accounting side of... June 5, 2023 How to Set Up a Payroll System for a Small Business As a small business owner, you have to set up a payroll system, but all the complexities around payroll can make it seem daunting, however, it doesn’t have to be. A payroll system ensures that your employees are paid accurately and on time and that... May 29, 2023 Cloud Accounting Solutions for Your Business: How to Evaluate and Choose the Right One Cloud Accounting Solutions have quickly grown into indispensable assets for many businesses and their financial processes. They enable businesses to access real-time financial information and make informed decisions from anywhere at any time. However, choosing the right cloud accounting solutions can be a complex task... May 22, 2023 Automate your Small Business Accounting in 4 Ways If you Automate your Small Business Accounting you’ll save time and money when it comes to accounting. You can reduce manual tasks and free up your time to focus on tasks that help you grow and develop your business. Here are some ways to automate... April 24, 2023 Financial Statements – How to Prepare them for Your Small Business Financial Statements are an integral part of any small business, as they provide a snapshot of the financial health of the company. Preparing these statements can be a daunting task, but it is essential for the success of the business. Here are some tips for preparing... April 17, 2023 Real-Time Reporting – What is it and How Does it Impact Cloud Accounting? Real-Time Reporting is the ability to access and analyse the latest financial data points with the help of cloud-based accounting software. It also allows businesses to access real-time financial data whenever they need it, without waiting for it to be processed by a third party.... April 10, 2023 Accounting Software – What to Look for in a Limited Company As a business owner, finding the right Accounting Software can be a daunting task. It’s important to find Accounting Software that fits your business needs, is user-friendly and is affordable. For limited companies, certain features should be considered when choosing an accounting solution. An easy-to-use... April 3, 2023 Utilising Payroll Software to Streamline Processes Payroll software is a great way to streamline your business processes and save money. If you’re running a small business, payroll software will help increase efficiency and accuracy by allowing you to file tax returns online, calculate statutory PAYE and National Insurance contributions automatically, handle... March 27, 2023 Calculating Payroll – How to do it Accurately and Efficiently in the UK Calculating payroll is a complex task, but it doesn’t have to be difficult. There are various ways you can make calculating employees’ income easier for yourself. This guide will show you how to calculate pay accurately and efficiently in the UK so that when it... March 20, 2023 Outsourcing Payroll Pros and Cons Outsourcing Payroll, should you do it? Payroll is an important part of any business. It’s also time and labour-intensive, which can make it difficult for small businesses to keep up with all the regulations and requirements. If you want to outsource your payroll, here are... March 13, 2023 Key Trends in Cloud Accounting for Business Owners Cloud accounting is one of the most popular and effective ways to save time and money for businesses in all industries. Although transitioning may seem daunting at first, cloud accounting has many benefits for small businesses in particular. It’s useful for business owners to understand... March 6, 2023 Small Business Tips for Setting Up an Efficient Accounting System Your small business needs to stay organised in order to succeed. That means having an accounting system that works for you and your small business. The good news is that accounting software has come a long way since it started being used in the 1950s.... January 9, 2023 Limited Company Accounting and The Benefits of Automating them As a Limited Company, you have to complete a number of regular accounting tasks to effectively manage finances and fulfil tax obligations. While these Limited Company tasks are necessary and not necessarily difficult to do manually, they can become very time-consuming if you’re not using... January 2, 2023 Taxes – Understanding Payroll Taxes and Deductions in the UK In the UK, you must pay taxes and National Insurance contributions (NICs) on your income. This guide explains what these taxes are, how they’re calculated and why they’re important to understand. Introduction to payroll taxes Payroll taxes are levied on employers based on how much... December 26, 2022 The Benefits of Automating Payroll Payroll is the process of managing employee compensation, and it’s one of the most important functions in any business. It’s also a massive time sink that requires you to pay close attention to every detail if you want to stay compliant with tax laws. Fortunately,... December 19, 2022 Small businesses tell government: ‘We won’t survive’ Millions of small businesses fear the UK economy will never recover from the effects of Brexit and the Covid-19 pandemic. A staggering 3.5 million SMEs are worried they won’t survive even the next 12 months. Around one-quarter of Britain’s 5.5 million small and medium enterprises... December 5, 2022 Do I need to keep accounts as a sole trader? Do I need to keep accounts as a sole trader? The answer is YES. Sole traders need to keep accounts just like any other business, in order to work out how much tax is due to be paid. This makes it essential to keep business... November 29, 2022 Why Small business accounting is vital for your firm Small business accounting is one of those jobs that is very important to get right. Establishing a business enterprise from the ground up is a thrilling time for entrepreneurs, but the role of a business owner also involves many new obligations. If, in the past,... November 21, 2022 What help is there for a start up business? If you have recently set up a business, or are trying to set up a start up business you’ll know it is a monumental task. This is especially the case if it is something you don’t have much experience in. So, to take some of... November 14, 2022 3 benefits of hiring an accountant externally If you are hiring an accountant it is important to make sure you get it right, especially if you are a small business owner. An external accountant can be a great solution vs hiring in-house. The truth is that not all accountants are created equal.... November 7, 2022 3 reasons for hiring an accountant as sole trader? When you run a business on your own and are used to doing everything yourself. It can be hard to see the need to hire another person to complete a service for you, such as hiring an accountant. Especially if your business is doing well,... November 1, 2022 3 start-up business tips for your small business Your start-up business could be extremely successful if you get the basics right. However, trying to juggle all the different parts of a start-up business can be very overwhelming. So, if you are thinking of making the move from employee to entrepreneur, read on to... October 24, 2022 Self-assessment tax bill worries, what can you do about them? Anyone who operates as a sole trader knows that you must complete a self-assessment tax return each year and submit it by the 31st of January of the following year. This means that many sole traders are now eagerly working away on their self-assessment return,... October 17, 2022 How to get started with self-employment As either a freelancer or a contracted supplier for a company, working on a self-employment basis has several benefits. Certain expenses become tax-free as they are part of your work, and you have a greater degree of financial freedom than others. However, getting started can... October 11, 2022 What 3 accounting services are the most important for startups? Accounting is essential for start-ups looking to grow their businesses. Utilising accounting services as a start-up is important for getting your business on track to productivity and profitability, especially if you’ve never handled business finances before. Below are some of the key reasons why start-up... October 1, 2022 Why should small businesses use cloud accounting? Cloud accounting is an increasingly popular choice for small and medium-sized businesses. Understanding what cloud accounting is and how it can benefit your small business is key to reaping the benefits and securely storing your important data and information. Here at SQK Accountancy, we want... September 24, 2022 Three top tips for finding start up support Starting a small business can be incredibly overwhelming. You have a great idea and you want to share it with the world and grow it into something real. But what should you do first? Here are three top tips that can help you as you... September 19, 2022 What taxes do you pay as a freelancer? When working on a freelance basis, organising your tax payments is a difficult process. This entails understanding the taxes that you pay, the right time to pay them and just how much you owe. Without knowing all of this, you run the risk of a... September 12, 2022 What are the three most important types of accounting? While there are as many as twelve branches of accounting, not all of them will be relevant for you or your business. Here are the three main types which may be essential for you to be aware of. Tax accounting Tax accounting involves ensuring that... August 29, 2022 A guide to managing cashflow as a freelancer Cashflow management as a freelancer can be a challenge. The ultimate responsibility for getting paid is yours and yours alone. While a regular payday is the highlight of most employed people’s months, as a freelancer it’s often not a certainty. There are some principles and... August 21, 2022 4 accountancy tips for your start up Starting a business is an exciting time for any entrepreneur, but it’s also a very important one, so you have to stay focused and organised. If you’re not careful, you may find that your start-up fails before it even has a chance to get off... August 13, 2022 Three tips for improving your startup accountancy When you run a start-up business, you want to be as competitive as possible, which means keeping on top of your finances and knowing what you’re spending your money on. Learn three tips for improving your start-up accountancy and how each one provides you with... August 7, 2022 What kind of help is available for small business accounting? Small business accounting is something that is critical to success and crucial for sustainable growth. If you run a small business, looking after your accounts must be a central part of your overall business plan. This can often mean looking for expert help in this... July 31, 2022 What is Making Tax Digital and why should your small business be aware of it? Although there are many important parts to any successful business, keeping on top of your accounts is perhaps the most crucial. If you do not keep tabs on your cash flow, track expenses or run the payroll on time, for example, things could soon get... July 21, 2022 Should I outsource my bookkeeping? Small business owners have plenty of things on their plates, from attracting new customers and keeping profits high to hiring the best talent and building a brand. Sorting out tax records and invoices can sometimes feel like the last mountain you want to climb. Outsourcing... July 17, 2022 5 benefits of cloud accounting The use of desktop accounting packages and spreadsheets for accounting is declining as more and more start-up businesses take to cloud accounting for all their bookkeeping needs. There are lots of benefits to cloud accounting, including the fact that you can work from anywhere to... July 10, 2022 Responsibilities for limited company accounting If you run a limited company in Manchester, you must take on various responsibilities. UK law sees company directors as stewards for the firms they operate, rather than outright owners. They must also comply with UK tax law. Directors’ responsibilities Directors have various responsibilities. These... July 2, 2022 Be honest: Do you really understand VAT accounting? Many sole traders and limited companies that earn over a certain amount need to file separate VAT accounts to HMRC. Unfortunately, many firms and individuals don’t understand how it works, particularly when they’re just starting out. Therefore, in this post we take a look at... June 23, 2022 The three benefits of better payroll support When you’re operating a small business or limited company, knowing where to start with your documentation is nearly impossible. That’s why having all of the right payroll support in place is one of the most important parts of getting started. Learn more about the three... June 16, 2022 4 tips to make small business taxes less stressful Before you set up your own firm, you have no idea how stressful small business accounting can be. You go into it thinking that the government will provide you with easy-to-use, intuitive services to calculate what you owe… but nothing of the sort happens. Instead,... June 10, 2022 Early stage accountancy tips for budding entrepreneurs The SME market is continuing to grow, despite the fact that 50% of start-up businesses will fail in their first year. Getting your new business off to the right start means taking on board accountancy solutions from the outset. Accounting sits at the very heart... June 6, 2022 Risks of cloud accountancy and how to avoid them Cloud-based accounting software is growing in popularity due to its compatibility with remote working, reducing admin workloads and making paying taxes online so much easier. With all of its benefits come some drawbacks and risks too, which is the case with all new technologies. Here,... June 6, 2022 3 Accounting Tips Every Freelancer Should Know The world of work is constantly evolving and changing. This is especially true when you take a look at how people work now and the rise of freelancing. Offering freedom, a chance to be your own boss and to work in an area you love,... May 23, 2022 Why is a professional accountancy service vital for start-ups? Setting up an enterprise from scratch can be an exciting time for those with entrepreneurial intentions. However, such an endeavour includes a wide range of new responsibilities. If you have previously worked as a Pay As You Earn employee, you’re likely used to your firm... May 10, 2022 Ways to improve cash flow in 2022 2022 has not been the best year so far for most businesses. Businesses are still struggling with the effects of the coronavirus pandemic, which led to less foot traffic, low spending among consumers, and the current employment crisis. When these were starting to be well... April 24, 2022 Taking on your first employee? Consider online payroll One key element of small business accounting that is often not explored until the last minute is payroll. It’s a defining moment in any small business when you go from being a solo trader to a business with employees. Even one employee can present difficulties... April 18, 2022 A simple guide to account reconciliation in business Most businesses rely on financial statements to understand the financial health of their outfit. It’s using statements that businesses gain indications of profitability, liquidity, and solvency of the enterprise. However, the statements are only as good as can be verified from reconciliation. Reconciliation is all... April 10, 2022 UK SME accounting deadlines explained If you run a private company in the UK, you must prepare two documents at the end of the financial year: Statutory annual accounts and a Company Tax Return. HMRC puts various deadlines in place for both of these documents. In most cases, they relate... April 2, 2022 4 accounting tips for start-ups Accounting is an important subject for all business owners, especially as it’s often considered the “language of business”. Here are some of the main things to consider to help your business grow and remain profitable. 1. Separate personal and business expenses Just as it’s... April 2, 2022 What expenses can I claim as a sole trader? As a sole trader, the cost of anything necessary for running your business can be considered an expense. That means you’ll pay less tax and keep more of your hard-earned money. Understanding how to handle expenses is important to ensure you pay the right amount... March 13, 2022 3 key areas most small businesses need support in Small businesses are key to the whole UK economy – be it in Manchester or anywhere else in the country. Due to the nature of these companies, they do not always have large numbers of staff to handle every task or huge departments to focus... March 6, 2022 The accounting glossary for new business owners Are you a new business owner worried about how you’re going to manage your accounts? Have you been wondering what all those financial terms mean? Take a look at this breakdown of common accounting terms. After reading this list, you’ll have a better grasp of... February 26, 2022 5 payroll tips for small businesses Payroll, it’s a bit of a nightmare. Not only is it complex, but the consequences of getting it wrong can be severe. HMRC and other authorities regularly audit firms that fail to meet statutory requirements. Fortunately, we’re here to help. In this blog, we take... February 13, 2022 What is voluntary disclosure and why is it important? Accountancy is very important when it comes to running your own business. A major part of this is completing annual tax returns to HMRC and quarterly VAT returns for VAT registered companies. It goes without saying that getting the right figures in these returns is... January 30, 2022 What are the dangers of not hiring a small business accountant in 2022? Small businesses are the backbone of the UK economy and crucial to the overall success of the nation. It is not always easy to set up and establish a thriving small business, however, and there is lots for any entrepreneur to think about in 2022.... January 17, 2022 Should my SME make the switch to cloud accounting? Cloud accounting refers to the process of moving traditional accounting online – more specifically, to the cloud. It can do everything that traditional accounting does but uses third-party APIs so that businesses can make better and easier use of their finances. Cloud accounting is especially... January 11, 2022 3 things SMEs should consider when choosing an accountant in 2022 SMEs represent the hidden key to the UK’s financial health and economy. That’s why it’s so vital that SMEs are equipped with qualified and experienced accountants going into 2022. The financial trend is moving more firmly towards cloud accounting and offering more support to SMEs... January 11, 2022 How changes to national insurance will impact SMEs The UK government announced that National Insurance Contributions for employers, employees and the self-employed would increase by 1.25% from April 2022. SMEs in the UK will need to be aware of what this means for them, so we have broken down the key considerations in... January 2, 2022 Sole trader or start-up? How hiring an accountant saves you valuable time If you’re a sole trader or start-up, every opportunity to secure a client or make another sale is crucial. The last thing you want to do is waste precious time that could be spent chasing leads trying to get your business finances in order. If... December 27, 2021 3 key benefits of Cloud accounting for UK small businesses All small business owners know how vital it is to keep a track of their accounts. This not only helps you to be in control of key things like cash flow but also means you can run payroll effectively and set realistic goals for future... December 19, 2021 3 key areas to focus on in 2022 for any small business Small businesses are key to the UK economy and help to keep the nation going. They not only provide vital services and goods but also employment too. If you run your own small business, you will no doubt be starting to review what happened in... December 8, 2021 Why is accounting so important for start-ups? Whether you choose to be a limited company or a sole trader, all new businesses start somewhere. All new businesses also need to pay attention to a few crucial areas if they are to succeed in the long term. Start-up accounting is certainly something any... December 6, 2021 Claiming expenses as a sole trader If you’re considering embarking on a new career as a sole trader, or if you’re about to launch a start-up as a sideline to your existing occupation, you might be apprehensive with regard to how taxes and expenses work. As a sole trader, your company... December 4, 2021 The dangers of DIY small business accounting It’s no secret that most small businesses face numerous financial challenges, including limited cash flow and inadequate capital. As a result, many small business owners opt to DIY most of their tasks, including small business accounting, to save money. Unfortunately, they only end up losing... December 1, 2021 How to find a good accountant for your limited company Choosing the right accountant for your limited company can mean the difference between success and failure. A reliable accountant will help with the initial setup process, such as forming your limited company and advising you on various financial matters. Here are four tips that can... November 28, 2021 Payroll and small businesses: Why is it so important to get right? When it comes to key areas involved in running a business, payroll is often near the top of the list. This is because it is vitally important to get right for any organisation which employs staff. But what does it involve exactly? In simple terms,... November 24, 2021 How can you find the support your small business start-up needs? Starting your own small business is exciting but can also feel a bit daunting. This is especially true if you are a new entrepreneur and have never run your own company before. As with everything in life, it is often worth looking for additional support... November 22, 2021 How long do I need to keep my business records? When you start a business, whether freelance or a limited company, it’s easy to forget about all the statutory accounting obligations, including retaining business records. Unfortunately, this can result in fixed penalties, fines and interests that cost your business significantly. So, it’s vital to know... November 20, 2021 What a limited company accountant can do for your company Hiring an accountant for your limited company is an excellent investment. They can oversee your accounts and tax, ensuring every aspect is compliant, which allows you to focus on day-to-day operations and developing your business. Keep reading to find out some of the main tasks... September 28, 2021 A beginners guide to payroll in business One of the key concerns if your company employs staff is running payroll. This is important for a number of reasons and something you must not only do on time each month but also get right. If not, your employees will not be paid on... September 16, 2021 What is payment on account for the self-employed? Anyone who is self-employed knows that accounting and tax are very important considerations. When it comes to tax, all self-employed people need to complete a self-assessment return each year for HMRC. This tells the Government what you earned, how much profit you made and enables... September 10, 2021 Which accounting apps are best for payroll? As a small business, we’re sure you’ve got a lot on your plate when it comes to finances. While it’s always best to invest in a reliable accountant, there are some areas that may be more suited to accounting software. One such area is payroll.... September 6, 2021 3 freelance accounting mistakes to avoid The world of work is a fast-moving place and this is more true than ever when you consider how people work now. Freelancing has really grown over recent years to become a popular career choice. When you look at the freedom, flexibility and chance to... August 27, 2021 4 tips for sole traders that can help their business Being a sole trader has a range of benefits – not only do you have a lot of freedom when it comes to the type of work that you accept, but you can also work on a more flexible schedule. Saying that though, there are... August 9, 2021 The benefits of bringing your payroll to the cloud Payroll has always been a problematic concept for businesses, largely due to the complex nature of the work and how easy it is to make a mistake. Thanks to innovations in cloud-based accounting software, payroll can be accomplished in a much more convenient and less... August 2, 2021 Is cloud accounting right for your business? Cloud accounting can be an excellent approach to accounting for many businesses, as it migrates all of the manual accounting duties into an online portal. We’re going to take a look at whether or not cloud accounting is right for your business by looking at... July 27, 2021 Why is getting payroll correct every time still important in 2021? Whether it is in terms of small business accounting or accounting for larger limited companies, payroll is a key piece of the pie. It is hugely important for any business which employs staff and is something which you must get right. In simple terms, it... July 20, 2021 How to manage start-up funding A lack of capital is often a death knell for small businesses, which makes it more important than ever to keep on top of your finances. Simple mistakes could prevent you from getting the income and support you need to survive. Here are just a... July 2, 2021 Why cloud accounting is the right choice for your business Accounting software has been a crucial tool for businesses for quite a while now, offering a host of features that traditional bookkeeping can’t offer. From real-time reporting to automatic tax returns, accounting software streamlines a lot of the laborious accounting processes for small businesses, start-ups,... June 28, 2021 What should I keep for sole trader accounting? Working as a sole trader is often a unique experience, but from an accounting perspective, you need to do much the same as any other business. This means keeping hold of your business records to accurately pay taxes. Although often thought of as self-employed... June 21, 2021 Starting your new business? It’s never too early to find an accountant When starting a business, many entrepreneurs envisage outsourced accountancy as something to think about later down the line. They think this for a number of reasons; whether it’s the perception that small business accountancy is easy enough that they don’t need help, or that they... June 8, 2021 Three things to remember when accounting for your small business Completing your accounts can be one of the most intimidating things for any new company to do. As someone new to the world of accounting, you don’t want to risk getting anything wrong as that could land you in legal trouble. Let’s take a look... June 4, 2021 What are the benefits of voluntary VAT registration? VAT registration becomes mandatory for your business if your annual turnover has been over £85,000 or is predicted to be so over the following 30 days. If your turnover is under that, VAT registration is not legally required. Many smaller businesses still choose to become... May 24, 2021 How does limited company accounting differ from sole trader accounting? When you first set up a business, you will need to decide on the structure. For many people, this comes down to deciding whether setting up as a limited company or a sole trader is best. here are key differences in how each type of... May 18, 2021 Outsourcing your accounts: 3 reasons all small businesses should do it Any small business owner is always looking for ways to grow, work more efficiently and make their life easier. One of the best ways to achieve this is by outsourcing certain key tasks. This basically sees you pay a professional, external company to carry out... May 11, 2021 3 accounting mistakes to avoid as a new start-up Starting your own business is an exciting thing and something that will hopefully grow to meet your expectations. It is not always easy though and you need to do all you can to help it flourish. Looking after your accounts as a new company is... May 4, 2021 4 things you should consider before starting your business Whether you have a great business idea or dream of becoming your own boss, starting a business is an exciting time. Running your own business will take time, hard work and energy, but there are great rewards available in terms of your own freedom, flexibility,... April 26, 2021 How cloud accounting services can benefit small businesses A small business or start-up must be extremely vigilant of its finances in order to ensure that profits are maximised and any losses or unnecessary outgoings are minimised. Cloud accounting services are ideally suited to the running of small businesses because they allow access to... April 20, 2021 Top 5 benefits of hiring a cloud accounting company Whether you are a small start-up struggling to manage your finances or a large, limited company, our cloud accounting services will streamline your bookkeeping. Our experienced team of accountants combined with our online bookkeeping software allows us to provide a simple, efficient and cost-effective service... April 8, 2021 What are scalable accountancy services, and why should they matter to you? When you’re considering the services of a financial specialist to help you with your start-up accounting, there are many things to consider. Something you may not have thought about is scalability – but scalability is one of the most important things you need to be... March 30, 2021 This is why every small business needs to work with an accountant Small businesses across the country have had a traumatic last 12 months, and with coronavirus restrictions set to be lifted in the coming months, every business owner will be looking to consolidate throughout 2021 and will be doing all they can to operate safely and... March 24, 2021 Operating as a sole trader? Key tips for handling your accounts While there are a few different ways to structure any UK business, setting up as a sole trader is still very popular. This is naturally a great choice for smaller ventures who do not expect to generate large turnover figures. It is also suitable for... March 17, 2021 Three tips for managing your small business payroll For most small business owners, doing payroll is one of the most time-consuming and tedious tasks that bring no strategic value to their business – but it’s also one of the most important ones too. Problems in this aspect of business can reduce employee morale,... March 10, 2021 3 myths around small business accounting Choosing to set up your own small business is a huge decision and one that will change your life. Of course, if you get it right then this will be in a positive way. Many people running successful small businesses love the chance to be... March 3, 2021 Three reasons why your start-up business needs an accountant So you have written your business plan and you’ve developed your brand and marketing campaign, but what about your finances? Many start-up businesses try to manage their own accounts when starting out, only seeking advice when it gets too complicated, or when their first tax... March 2, 2021 How a modern accountant can help you on the road to recovery It goes without saying that the coronavirus pandemic has had a far-reaching economic impact, buckling businesses of all sizes across all sectors, and in the midst of this economic uncertainty, SMEs are most at risk. As we navigate the turbulence of 2021, it’s more important... February 18, 2021 How do you know it’s time to start looking for a new accountant? Most businesses understand the importance of small business accounting. What most don’t understand, however, is when the time is right to change their accountant. Staying with the wrong accountant can cause stress, delays, and ultimately cost you money. We’ve already discussed 3 things to consider... February 9, 2021 Looking for a new accountant in 2021? 3 key things to consider Keeping on top of your accounts is crucial for any business in Manchester – whether you are a brand new startup or an established limited company. Knowing how much money you have, what your cash flow is like and keeping track of expenses is vital.... February 1, 2021 The benefits of hiring a business accountant We all know that accountants can help with important financial tasks such as calculating tax returns, however, there are many other benefits to your business when you hire an accountant. Whether you are starting a business and need help with forming a company or an... January 25, 2021 How cloud accounting can keep your business running smoothly during a pandemic 2021 is going to see a continuation of the difficult times we all experienced in 2020. While New Year’s optimism is essential, it’s also important to be realistic about challenges your business is going to face this year and going forward. How can cloud accounting... January 19, 2021 Small business accounting errors to avoid Managing your accounts is an essential part of any small business, and small errors can have big consequences. It may feel like getting to grips with your business finances is a bit of a minefield, but we’re here to help you avoid these common small... January 6, 2021 Four tips for start-up and small business accounting Starting a new business is an exciting time, and undoubtedly there are lots of things to think about. It’s easy to forget about certain areas like accountancy. If you’re launching a new business and want to make sure nothing gets neglected, read on for our... December 30, 2020 5 benefits of cloud accounting for small businesses Cloud services have revolutionised software procurement for small businesses. Cloud-based software enables startups to access the same advanced features usually reserved for expensive enterprise software packages. Below are five important ways that cloud-based software benefits small businesses. Save time It can be difficult for... December 29, 2020 Starting a business in 2021? 3 accountancy tips to take on-board While 2020 has been a difficult year for many around the UK, this does not mean people are looking ahead to 2021 with a gloomy outlook. Many will be planning to make the most of the new year by opening their own business. If this... December 18, 2020 Think you can’t afford outsourced accountancy? Think again As a small business owner, you know the importance of making every expenditure work for you. Many business owners feel that accounting is something they simply can’t justify outsourcing – but the reality is that small business accounting is always affordable, no matter your circumstances.... December 11, 2020 3 tips to make running payroll easier in 2021 With 2021 fast approaching, many businesses will be starting to look at how they can grow and improve in the New Year. This involves looking into specific areas within the company and drilling down to see where processes can be revamped. One key thing many... December 1, 2020 Should a business register for VAT voluntarily? VAT can cause a lot of confusion for business owners and if you are not earning above the minimum threshold to automatically be VAT registered, it may not seem worthwhile to understand it in detail. However, there are benefits that can come with being a... November 24, 2020 What should you know about outsourcing accountancy as a start-up? There are many important elements of business development to consider as a start-up, but one that few are able to maximise their potential with is accounting and bookkeeping. Many small business owners and entrepreneurs feel they either have control of their finances when they don’t,... November 17, 2020 3 accounting tips for limited companies Did you know that as of 2019, there were reportedly around 2 million limited companies actively trading in the UK? These figures show that this type of business is just as key to the national economy as sole traders or non-limited SMEs. If you are... November 5, 2020 Guiding your employees through tax relief on WFH expenses If you’re a small business owner whose staff have gone remote due to the pandemic, then no doubt you’ve already had to navigate the pitfalls of ensuring they’re set up to work and stay in touch. Or maybe you are a consultant or sole trader... October 30, 2020 Why outsourced accountancy is a scalable investment If you’re interested in investing in freelance accounting services to outsource your general small business accounting and payroll, you want to make sure it’s an investment that will provide continual returns. To do that, you need to be sure you’re going to get something back... October 21, 2020 Why should a freelancer hire an accountant? A key part of the UK workforce are the freelancers. Government figures show that around 2 million people in the UK now work in this manner. If you work in this way, then you will know how vital these businesses are to the economy and... October 15, 2020 3 payroll mistakes to avoid Payroll might seem like a straightforward process, but there are a number of common mistakes that can lead to unexpected costs and wasted time. In this blog, we’ve put together a list of three payroll mistakes to avoid. Missing deadlines Most small business owners are... October 5, 2020 Why should you embrace outsourced online payroll? Payroll is a key accounting service, but many businesses still think investing in the services of a specialist in small business accounting is beyond their reach. The reality is that nothing could be further from the truth. Not only is it affordable, but using... September 28, 2020 Optimise your business cashflow by outsourcing your accountancy Every business wants to optimise cashflow as much as possible, but when you’re in the midst of building and running your small business it can be difficult to set aside the time required to develop and implement those strategies. An affordable investment in the... September 21, 2020 Starting out as a sole trader? What to look for in an accountant Sole traders are a key part of the UK business landscape. As of 2019, figures from the UK Government found that there were 3.5 million businesses of this type in operation. This clearly shows how common and how vital sole traders are to the... September 15, 2020 What can you do to help your accountant deliver a better service? Getting a professional and experienced accountant to handle your financial situation is essential if you want to make sure your business is truly primed for growth. The truth is, however, that small business accounting is most successful when both client and accountant are working together.... September 3, 2020 Myths about cloud accounting In today’s business environment, financial management via the cloud is one of the best ways of keeping up with changing market demands. However, a number of companies across the country are resistant to change due to fear of the unknown, so we’ve debunked three of... August 27, 2020 Here’s why a business is never too small to benefit from an accountant Many small and freshly started businesses fall into the trap of thinking that outsourced accountancy is not something they need to consider – they think an accountant is something only bigger businesses need. The truth of it is, however, that small business accounting, when handled... August 19, 2020 Drastically minimise the risk of costly accounting mistakes by outsourcing to a professional One element of small business accounting that few mention, is the propensity for mistakes to happen. There’s nothing to be ashamed about when it comes to making mistakes. When you have a busy blossoming business to run, time is always in short supply. Those mistakes... August 14, 2020 Financial errors that could impact your start-up Starting your own business is an exciting yet often overwhelming task, so it’s important to make sure that you are making the right financial decisions throughout the process. In this blog, we’ll be taking a look at a few of the most common financial errors... July 28, 2020 The importance of a tailored approach to small business accounting Small business accounting is not a “one size fits all” proposition. When you are looking to invest in outsourced accountancy services for your small business, it’s essential that you choose an accountant who can tailor their services directly to you. Services tailored to you No... July 20, 2020 How an outsourced accountant can help prime your business for growth Outsourcing to a specialist well versed in small business accounting makes sense for a lot of reasons. They can help keep your finances in order, ensuring that your business is free to operate as efficiently as possible. This outsourced accountancy also serves as a prime... July 14, 2020 Which key areas should you focus on as a small business owner? If you live in Manchester and have recently set-up your own small business in the city, you know there is a lot to look after. Running your own company involves keeping an eye on many different things and normally sees you with a long to-do... July 3, 2020 Outsourcing services for your new business Starting a new business can be a very stressful time. There are so many things to think about and remember, and so many things that could go wrong if you don’t. You don’t need to take on everything yourself. There are many tasks that can... June 29, 2020 Embracing the convenience of cloud accounting The cloud is becoming one of the most popular aspects of modern small business accounting. You’ve no doubt already heard about the cloud, and you may have thought about what it can offer you. The truth of the matter is that cloud accounting can offer... June 22, 2020 Is outsourcing to an accountant worth it for a sole trader? If you’re a sole trader it can be easy to think you’re better off handling your finances yourself. But the reality is that investing in the services of a professional well versed in sole trader accounting can be one of the most valuable and beneficial... June 15, 2020 Why is cloud accounting so useful for small businesses? Cloud accounting is becoming increasingly popular amongst all aspects of business accounting – but many small businesses don’t understand the many reasons it can benefit them specifically. There are lots of ways in which embracing the cloud is the right choice for small business accounting... June 2, 2020 Why should you choose a specialist small/medium sized business accountant? When choosing the best accountancy firm to help your small or medium-sized business, you have a lot to choose from. It can be tempting to choose a firm with a degree of international pedigree. But, the reality of it is that you should be looking... May 27, 2020 Taking on your first employee? It’s time to outsource your payroll Many businesses think that payroll is something they only need to consider outsourcing when they have a team of employees. The reality is, however, that you don’t need to wait until you have a whole department before considering the benefits of outsourcing payroll. Whether you... May 19, 2020 What makes outsourced accountancy such a smart long-term investment? Small business accounting is a compelling and very valuable investment, for all manner of established businesses and new-starts. Many still see outsourcing their accounting as a pure cost, however, and one they can’t manage. In truth, outsourced accounting is actually a long-term investment that gets... May 13, 2020 3 myths about outsourcing payroll debunked Some businesses are hesitant to trust outsourced payroll services due to the number of myths and misconceptions that circulate the industry. In order to shed some light on the benefits of outsourcing your payroll, we’ve debunked some of the most common myths about payroll outsourcing.... May 4, 2020 Tech start-ups may have problems accessing coronavirus loans from the Future Fund If you own and operate a tech start-up business, the coronavirus crisis is likely to be causing immense stress. Access to operational finance may be a big issue, despite the launch of the UK government’s Future Fund and Job Retention Scheme. One of the major... April 28, 2020 National Insurance contributions: understanding payroll deductions As an employer, it is your legal responsibility to complete all payroll tasks. Most businesses in the UK process payroll via PAYE, which is the system used by HMRC to calculate National Insurance and income tax deductions from employee wages. Below we answer some common... April 17, 2020 Common payroll queries about the UK Coronavirus Job Retention Scheme The UK coronavirus shutdown has hit small businesses hard. But, there are ways to move forward and our latest blog posts discuss the kind of help that can be accessed during this crisis situation. The experts here at SQK Accountancy have been inundated with calls... April 15, 2020 How can accountants help in a crisis? Did you have a Crisis Plan in place, including protocols for financial management in troubled times? The answer for many small businesses is no. Even those who did ‘plan for the worst’ will have been shocked by the massive repercussions of the Covid-19 pandemic. However,... April 1, 2020 COVID-19: What help is available for small businesses and sole traders? The current coronavirus crisis is hitting everyone in the UK, from employees and freelancers to small businesses and the largest multi-national corporations. While many of us may still struggle if the economy continues on its current downward turn and social distancing measures tighten further, the... March 24, 2020 Getting small business accounting right from the start Accounting is an essential part of any business. Ensuring that your cashflow, expenses, and company capital are all recorded accurately is necessary both for understanding how your business is working, as well as for HMRC and filing your tax return. However, many people who set... March 18, 2020 Cash or accrual accounting for my UK startup: which is best? UK business start-ups can opt for two main types of recording for accounts; accrual or cash accounting. If you’re planning to set up a business and are wondering how to record sales, debts, and purchases in your accounts, this short SQL summary offers a brief... March 11, 2020 Basic accounting considerations for limited company start-ups in the UK If you’re planning a limited company start-up, it’s a good idea to get your accounting function working from the outset. Your limited company will have its own legal status, and that means you’ll have a legal obligation to produce annual accounts on a regular basis.... February 25, 2020 Can I get my business start-up launched after Brexit? No matter which way you voted in the EU referendum, the UK has now left the European Union. And, many hopeful entrepreneurs are querying just how this will impact their business start-ups. The professionals here at SQK Accountancy handle a variety of sole trader and... February 19, 2020 Outsourcing payroll makes sense even when you have a single employee Business start-ups often consider payroll to be something to worry about later down the line. Payroll management seems like the preserve of large companies with multiple departments – so you, an entrepreneur with a single employee don’t have to worry about it, right? Wrong! It... February 11, 2020 Which key areas should your small business focus on in 2020? Now that 2020 is well underway, all small businesses in the UK will be looking at how they can grow over the coming year. Many of the decisions here will rest on where any attention should fall within your organisation. As any business owner knows,... February 5, 2020 Sole traders in the UK benefit from cloud accounting The complexities of accounting in the modern era make it important for all business owners to recognise the importance of cloud accounting. Many sole traders historically relied on paper accounts, but the introduction of UK government digital legislation means this is increasingly difficult to administer.... January 24, 2020 3 handy accounting tips for limited companies January 20, 2020 The single most important skill you need for successful accountancy Accounting forms the backbone of your business; whether you’re an entrepreneur working alone or a multi-national corporation, accountancy is an essential consideration. Making it as easy, efficient, and accurate as possible is of the utmost importance, and to do that you need to learn and... January 13, 2020 How to streamline your small business accounting in 2020 2020 has well and truly arrived, making now the perfect time to streamline your small business accounting to ensure this year is your most profitable yet. Make 2020 the year you beat your competitors and exceed your yearly targets by following these tips… 1. Optimise... January 9, 2020 The main advantages of setting up as a sole trader A new year heralds a new start and is a time when many consider setting up a new business venture. When you start a business, the first thing to decide upon is whether to create a limited company or go in as a sole trader.... December 27, 2019 3 awesome payroll tips for small businesses For any small business, payroll is one of the key tasks to get on top of each month. This is basically the process of paying your employees but also involves sending the relevant NI and tax contributions to HMRC for each one. Getting this key... December 18, 2019 Starting a business in the New Year? 3 reasons to use a professional accountant As 2020 begins to draw nearer, you may be thinking of branching out in your career and setting up your own business. Business start-ups are the lifeblood of the UK economy and the New Year is the perfect time to make a fresh start. One... December 11, 2019 Why does cloud accounting make sense for start-ups in the UK? Start-ups are the lifeblood of the UK economy and vital to the country’s success. Running this kind of business can sometimes bring its own challenges though – usually around budgets and money! This means that finding the best way to look after your key business... December 5, 2019 UK start-ups payroll and accounting advice: What benefits and expenses are tax exempt? If you’re starting your own business, payroll affordability could be one major issue causing worry about ongoing operations. Retaining the best people in your business isn’t always about paying top dollar, though. There are a variety of benefits/expenses that could be offered new hires and... November 26, 2019 Top accountancy tip for UK business start-ups If you’re planning any kind of business start-up in the UK, it’s always a good idea to get in touch with professional accountants at the earliest stage. Many small business leaders do prefer to “go it alone” for the first few weeks or months, however.... November 21, 2019 Why business start-ups need to outsource more Starting your own business is a great way to take control of your destiny and career. However, owners of business start-ups often underestimate how much work there is in building a business. As a result, they tend to work long hours, often without much time... November 13, 2019 Five myths of business start-ups There are numerous myths when it comes to business start-ups. While some of these are harmless and can be quickly dismissed, others can be damaging to the potential success of your future venture. So, what are the top five myths of business start-ups and what... November 7, 2019 Why businesses have it easy when outsourcing accounting and payroll services Businesses nowadays outsource several mundane tasks to independent professionals who are better skilled and experienced in their respective fields. Small businesses and business start-ups have a lot to gain from outsourcing critical tasks such as accounting and payroll. Here are five reasons why financial management... October 28, 2019 Understanding tax and National Insurance contributions as a sole trader Many business start-ups will be registered as sole traders, certainly during their initial phase of growth. This is understandable as being a sole trader is simpler in many aspects than setting up as a limited company. Accounting and paperwork are generally less time-consuming for example... October 18, 2019 Do you need a professional accountant? These five signs say you do Business start-ups and small businesses are often slow at delegating certain tasks within the business. Accounting is one of the vital roles that many new entrepreneurs seem to take lightly. Some business owners assume that their enterprise is not large enough or ready for professional... October 10, 2019 Top five qualities of an excellent accountant Accounting is a critical area in any organisation. Besides handling crucial tasks such as payroll management, tax compliance, and preparation of financial documents, an accountant is also responsible for providing valuable financial insights to inform business decisions. Clearly, only a competent, highly-skilled professional is well-suited... October 8, 2019 The top three accounting problems facing business start-ups Launching a new business is an exciting venture. However, running a successful start-up has proven difficult for many entrepreneurs. 30% of business start-ups fail within the first two years, only a few grow to dominate their niche and become established brands. Financial problems are identified... September 24, 2019 Corporation tax for start-ups Staying on top of business accounting can be time-consuming and difficult, and that’s particularly true for new business start-ups. If you’re planning to set up a limited company, corporation tax is just one of the regular taxes your business will need to pay. As small... September 17, 2019 Top payroll tips for start ups and small businesses Operating a payroll is challenging for business startups and existing small businesses, and one important early task to ensure the tools are in place to make running payrolls a routine matter. Some top payroll tips from the expert payroll team here at SQK Accountancy include:... September 9, 2019 What three things should business start-ups be looking for in accountancy professionals? For business start-ups, outsourced accountancy is one of the most practical investments available. They allow you as a business owner to focus on growing your business, safe in the knowledge that your finances are being professionally handled. The more your business grows, the better an... September 4, 2019 Is it time for you to start outsourcing your business payroll? All business start-ups are going to have to deal with payroll at one point or another. While it might seem daunting, it’s actually a good thing, as your ability to have employees is a symptom of your business growth. The question that sits before you... August 23, 2019 Will Brexit impact on UK business start-ups? Many business start-ups have expressed considerable concern over Brexit and the ways it could impact on their trading and profitability. So, we’ve taken a few minutes to round up some key aspects of Brexits to provide some degree of reassurance for existing small businesses and... August 19, 2019 Ways Making Tax Digital impacts on your startup The government’s shake-up of the tax system – Making Tax Digital – will impact on all businesses; including startups. This major change to the way taxes are reported and administered means any business start-ups need to ensure compliance from the launch date. If you’ve never... August 9, 2019 The three golden rules for business start-up accounting An accountant is an excellent investment for business start-ups from day one, however, there are always things you can do as a business owner to improve the overall quality and efficiency of your accounting. Following these three golden rules will help you to make sure... August 5, 2019 Why startups need to opt for cloud accounting All UK business start-ups or existing small businesses will find using cloud accounting software offers a variety of benefits. There is a range of software on the market, some of it free to end-users, giving business accounts a head start when it comes to speed... July 24, 2019 A step-by-step guide to changing your SME’s accountant When running a small business or start-up, every penny counts. There’s no place for excessive spending or inefficient budgeting, which is why it’s absolutely essential to ensure you work with an accountant that helps you save money, rather than one that hampers your finances. So,... July 16, 2019 Three basics companies need to know about VAT For many people, VAT is rarely thought about. It’s an additional cost on products, but as it is incorporated into the displayed price for many items in the UK, it almost becomes an invisible tax. As such, many people don’t know much about it or... July 10, 2019 Why should your business consider voluntary VAT registration? You will probably already know that becoming a VAT registered company is a legal requirement after your business reaches a taxable turnover of £85,000 (as of 2018/2019). But businesses can actually register for VAT before that – are there any benefits of doing so? Well,... July 3, 2019 Why it’s best for small businesses and startups to hire accountants Whether you’re a sole trader, planning a business startup, or a small business owner, it’s likely you recognise that funding your trading can be very difficult when you have to cope with a limited budget. Perhaps you’re already considering ways to reduce business costs in... June 24, 2019 Why does my UK tech startup need professional accountants? Starting a business in the competitive UK tech market means staying on track with all the latest innovations within your field. One vital consideration for any UK tech startup is accountancy and ensuring the business is up-to-speed with all legal obligations relating to payroll, PAYE,... June 14, 2019 How to handle PAYE as a small business owner For any small business owner, continuous growth and an increased customer base is part of the long-term plan. However, this will also eventually mean you need to hire staff to cope with this extra demand. If you have not done this before then it can... June 10, 2019 Missed the PAYE deadline? Here’s how to get back on track This year’s PAYE deadline for employers with payroll was Friday 31 May. So, if you’re reading this and have yet to get round to it, you’re probably a little behind. Every year hundreds of people miss such deadlines, so what happens when a deadline is... June 3, 2019 Three payroll mistakes your startup should not make If you have recently started your own company, then there will be lots to get done. Just getting a foothold in your sector and attracting customers is enough for any startup to be going on with. Alongside this, looking after your payroll is crucial if... May 22, 2019 Why a focus on accounting should be key for all entrepreneurs Entrepreneurs are, by their very nature, interested in doing things differently. They want to embrace change and commit to tasks that go against the status quo. However, while this is a common approach for entrepreneurs and those looking to develop and build small businesses, it... May 18, 2019 Dealing with PAYE is far easier for businesses that outsource their payroll Any small business or startup tends to rely on a few key employees or even just the business owner for most administrative functions. However, it’s not always feasible for the business owner or key administrator to run a payroll effectively. This is even more critical... May 8, 2019 A startup and small business VAT planning strategy If you’re planning a startup or already running a small business, VAT and registering for VAT will be a major consideration. This is particularly the case if you’re close to reaching the VAT threshold or know your startup will go over this limit in the... May 2, 2019 When should a startup business invest in outsourced accountancy? As a startup, you’re likely watching the pennies very closely. Startups generally want to keep as many essential business processes “in-house” as possible, because it cuts costs. While it can technically be cheaper, does that actually mean it’s what’s best for your business? The answer... April 23, 2019 4 VAT mistakes to avoid If your annual turnover exceeds £85,000, then you must register to pay VAT. However, VAT can be somewhat confusing for many small businesses. In order to avoid any penalties down the line, it’s important to make sure you’re following the rules on VAT. Here are... April 18, 2019 PAYE and payroll tips for UK startups UK startups across all business sectors face legal responsibilities to pay employees appropriately. Some factors to consider include ensuring payment of the national minimum wage at the very least and ensuring all essential deductions from salaries. Essential deductions include any necessary repayments of student loans... April 9, 2019 Is your startup or small business ready for digital VAT returns? Any existing VAT-registered business or UK startup planning to register for VAT needs to be fully aware of the new Making Tax Digital requirements and what this means for their business. 1 April 2019 was the deadline for digital VAT returns compliance. Although HMRC has... April 1, 2019 Do you understand RTI reporting for payroll purposes? Running a payroll for any size of business can be a complex matter and government requirements for Real Time Information (RTI) can make this more difficult. Use of RTI means employers – including start-ups – need to report all gross pay, National Insurance (NI), tax... March 25, 2019 For startups, there’s no room for accountancy errors When launching a business, it’s inevitable that money will have to be spent. The key to success is understanding exactly what costs are necessary, and what you will get for your money. Most businesses will need to: acquire or rent office space; purchase day-to-day necessities... March 18, 2019 VAT registration tips for startups SQK Accountancy offers a variety of professional accounting services for startups, including VAT and PAYE. When is the right time to register for VAT is one of the most common client queries we address as a small business accountant in Manchester. This is why we’ve... March 8, 2019 Do you need to hire an accountant or not? When you’re a small business or startup, it’s tempting to look for ways to save money at every opportunity. One question that business owners or self-employed professionals often ask themselves is “do I really need to hire an accountant?” With SaaS accounting software so freely... March 4, 2019 Should I register for VAT? One of the questions we get asked regularly is if you should register for VAT or not. Hopefully, with this blog, we’ll try and answer all the questions you may have. There are some considerations, but it’s not all bad! When should I register... February 28, 2019 Why you need a UTR It’s that time of year when people who are already self-employed are breathing a sigh of relief after filling in their returns, but it’s also the time when a lot of employed people starting thinking about starting their own business too. There are so many... February 11, 2019 VAT efficiency tips Taxes take up a considerable amount of time! They can also cost your business more money than necessary if you’re not submitting your VAT returns in the correct manner. So, with that in mind, read on to discover how to handle VAT more efficiently. Have... February 4, 2019 Are ‘bookkeeping’ and ‘accounting’ one and the same? More often than not, ‘bookkeeping’ and ‘accounting’ are used interchangeably. The truth, however, is that there is a considerable difference between these two practices. So exactly how are they different from each other? To better understand how these two terms vary, it is essential that... January 29, 2019 What every start-up entrepreneur should know… Small and micro businesses are integral to the UK’s economy. In 2018, there were 5.4mn UK micro-businesses, which was a total of 96% of all UK business organisations. A micro business employs between zero and nine workers. Though that might not sound like a lot,... January 21, 2019 Choosing the right VAT scheme for your business Planning for VAT can be difficult for any business. This is a complex tax which is currently being revolutionised due to the UK government’s Making Tax Digital initiative. It’s quite possible for business organisations to under or overpays VAT, and this can cause problems. Any... January 14, 2019 Business payroll administrators need to be aware of income tax changes for 2019-2020 If you run your own payroll system, you need to be aware of all relevant legislation coming into effect in 2019. One of the most important income tax changes which will impact all your workers is the increase in personal allowances which takes effect from... January 3, 2019 Why cloud accounting is safe in the age of cybercrime With more and more businesses performing nearly all of their tasks digitally, it makes sense that instances of cybercrime are on the rise. However, though this is the case, the latest research has discovered that barely half of SMEs in the UK are actually well-versed... December 28, 2018 How to make your Christmas party a tax-allowable expense: 6 top tips The Christmas season is here again and there’s no better time to treat your staff and customers. You may, however, be concerned about the costs involved in throwing a Christmas party. However, if you follow HMRC’s rules and regulations, you may get be eligible for... December 19, 2018 Who should you trust for VAT advice? Here’s how you find the right accountant Taxation, in general, can be a minefield for the inexperienced. Specifically, understanding VAT is something a lot of businesses struggle with. It makes sense, then, for you to contact a specialist for VAT advice. But with so many out there claiming to be experts, how... December 13, 2018 3 accountancy tips for small business owners Small businesses are the very backbone of the UK’s economy. For example, in 2017 over 99% of businesses in the UK were small to mid sized companies (SMEs) with total employees of 249 or less. Although there is so much potential in the UK for... December 3, 2018 A guide to HMRC tax penalties Tax inaccuracies and missed deadlines can lead to companies having a high price to pay. In this blog post, we take a look at HMRC tax penalties in further detail. Late tax returns One of the main reasons why people find themselves facing a fine... November 26, 2018 Should you add yourself to the payroll system? All business owners have a number of different options available when it comes to paying themselves. It can be tricky to make the right decision, as you need to find the perfect balance between your needs and the needs of your business. One option is... November 20, 2018 Use all available business tax breaks to save money on taxes If your startup or existing small business is not making use of all available tax breaks, you could struggle to show profits. These tax saving tips for small businesses may offer the assistance you need: Tax saving tips The following simple tips may provide some... November 2, 2018 The benefits of choosing cloud account accountancy With increasing numbers of services being offered through the cloud, and ever more businesses integrating themselves into this revolutionary technology, it is no surprise that accounting and accountancy have also discovered the benefits. Cutting edge accountancy firms are choosing to incorporate the cloud into their... October 25, 2018 VAT inspections – don’t panic! 3 tips to help any business deal with them If your business is registered for VAT then one thing that will probably stress you out more than anything else is the prospect of HMRC coming to do a VAT inspection! However, this really shouldn’t be the case. As long as your VAT accounts are... October 18, 2018 Need to change accountants? Here’s how to do it An accountant plays a key role in ensuring your long-term financial success. Whether you run a small business, or work for yourself, it’s absolutely essential to have the correct support network in place to keep everything ticking over properly. So what do you do if... October 12, 2018 Here’s a quick solution to your accounting crisis Accounting is an indispensable part of business. It is the source of critical information such as performance records, financial positions and cash flows. With this data, enterprises have an easier time making decisions on how to get ahead of their completion. But for small and... October 3, 2018 Why SMEs shouldn’t do their own accounting Small business often fall into the trap of believing that they’re better off doing their own accounting than outsourcing to a specialist. It’s easy to understand why, if it’s just you and a few employees then surely it’s quicker and easier to just do it... September 24, 2018 3 common VAT misconceptions explained VAT, the dreaded Value Added Tax, is something which can often befuddle and mystify business owners, to the point where it’s worth outsourcing to a professional VAT specialist just to avoid the headaches. While VAT can be a complex beast, there are several long-standing misconceptions... September 18, 2018 3 key qualities your financial services provider must have The benefits of outsourcing your accountancy requirements are well known, but in order to avail yourself of those benefits you need to make sure that you choose the right firm. Remember you’re literally trusting them with your business, so it’s important that any accountancy firm... September 11, 2018 3 most common accountancy mistakes businesses are still making Accountancy in business is a process that’s as difficult or as simple as you want to make it. Businesses of all sizes often complain about the trouble they have balancing their books, but at the same time all too often they’re making one, or all,... August 31, 2018 VAT registration and why you should consider it VAT registration becomes a legal requirement if your business is turning over in excess of £85,000. VAT registration can be done, relatively easily, online through the HRMC website. Though VAT registration is often the cause of headaches and confusion, the reality of the matter is... August 24, 2018 Common payroll system mistakes SMEs make all the time Having an effectively managed payroll system is essential for all businesses. They act as records of wages, taxes and verification of contractor or freelance worker payments, and can be inspected by HMRC at any time. As such, companies must have an efficient and accurate system... August 17, 2018 Cloud accountancy: managing multiple users Having to deal with many employees can prove to be a difficult task. You may want to automate a few things to smoothly run your business. Cloud accountancy enables you to control how your staff accesses your company’s accounting data. It also gives your team... August 14, 2018 Top 3 accountancy tips for new small businesses Starting a new business is both an exciting time and a nerve-wracking one. You’ve taken a giant leap and it’s only right that you have a little support to get you started. At SQK Accountancy, we understand and we want to ensure you have the... July 30, 2018 3 benefits of outsourcing accountancy and payroll services In a modern economy where competition in the market is greater than ever, firms need to take every available opportunity to gain an edge over their competition. Whilst recent trends tend to focus on previously neglected concerns, such as employee welfare and technological innovations, it... July 24, 2018 VAT and your business – the basics explained Many new and small businesses are confused when it comes to fully understanding and working out their VAT. Below we offer some VAT advice with our simple VAT guide. What is VAT? VAT stands for Value Added Tax. This is the tax that is levied... July 16, 2018 VAT tips for SMEs and small business owners Reclaiming VAT is not difficult and is well worth doing, after all if your business is due some money back it does make good sense to reclaim it. Many business owners or finance directors think some aspects of VAT are too time consuming or tedious... July 10, 2018 What are the best cloud-based accountancy software options? Over recent years, accountancy has seen big changes in the way the sector operates. Many clients and accountants have turned to online cloud-based accounting for the many benefits it brings. From increased security to cost reductions and offering a more efficient way to keep your... June 28, 2018 5 payroll tips for small business owners Payroll can be a top concern for small business owners, after all it needs to be correct and employees need to be paid on time. If your business payroll causes you major headaches any time a run is due, follow these simple tips to make... June 25, 2018 The accountancy industry over the next ten years We live in a time where most industries are undergoing massive changes. Technology is continuously evolving, globalisation is making the world increasing more connected, and companies are moving towards commoditisation. All of these factors, and more, are going to have profound impacts on the accountancy... June 15, 2018 Outsourcing accountancy as a non-profit organisation Managing a non-profit organisation is a challenge. Not only do executives need to ensure the organisation is making progress towards achieving their mission, but they also need to comply with growing regulatory requirements, balance the books and leverage resources effectively, amongst many other things. Yet,... June 11, 2018 Why cloud accountancy software is good for startups Starting up in business is an exciting, hectic period in your life when all your time and energies are focused on building up your new company. But, it’s important to put good accountancy habits in place right from the outset of your startup, in order... May 30, 2018 3 costly payroll mistakes for any SME to avoid When it comes to running an SME, looking after your payroll is a key concern. This vital area is not only important for employees but also for your business. Mistakes made here can prove very costly when HMRC pick up on them. For many businesses,... May 24, 2018 Common VAT myths debunked One of the worst things you can do as a business owner or sole trader is to follow incorrect information when basically your business depends on it. However, the internet is home to a plethora of self-proclaimed ‘experts’ that are giving inaccurate advice and information.... May 16, 2018 3 disastrous tax blunders to avoid as a sole trader When it comes to being a sole trader, you need to have all your bases covered financially. Sole traders are held personally liable by the government which means your personal assets could be claimed in relation to any business debts. As such, no distinction is... May 10, 2018 6 tax saving tips for SMEs Small business owners need to make the most of all available tax breaks, and taking utmost advantage of professional advice can help identify some of these. It’s often the case that SMEs manage their own finances and don’t spend enough time researching some of the... April 30, 2018 Accountancy tips for startups Starting your own business is an exciting time, but, beware, it’s important to keep financial records from the very start of business operations. Failing to maintain accurate accountancy records could result in hefty fines from HM Revenue & Customs or even cause your business to... April 23, 2018 Looking to cut costs? Enhance your accounting For small and medium-sized businesses, saving money is always a priority. And, while things like reducing overheads and minimising unnecessary spend on equipment are often at the top of the agenda when it comes to finding areas ripe for improvement, assessing accounting practices can very... April 16, 2018 Introduction to PAYE and payroll for employers As an employer you will generally need to operate the HM Revenue & Customs (HMRC) PAYE system in order to collect the income tax and national insurance due via your payroll operations. If everybody that works for your business earns less than £116 weekly, you... April 10, 2018 Which VAT accounting system should I choose for my business? Any business with a turnover in excess of £79,000 will need to register for VAT purposes, businesses under this threshold can also register for VAT on a voluntary basis. There are three VAT accounting systems in place, so choosing the best system to suit your... March 29, 2018 5 reasons to choose cloud accountancy Much like your photos, your documents and your music, accountancy too is moving to the cloud. This is a common choice for companies around the world since cloud accountancy is internet-based, doesn’t require complex software and is easily accessible from all kinds of devices. Here... March 22, 2018 Accounting tips for bloggers Many bloggers are unaware of the accounting that is required for their business, which leads to the inevitable panic at tax return time! To help avoid this, we are outlining the fundamental concepts that bloggers should be aware of: Tax registration If you are new... March 15, 2018 Common VAT mistakes to avoid VAT can be a time-consuming and confusing task. When trying to run a business, getting to grips with all aspects of VAT can be a bit of a nightmare. With that in mind, read on to discover some of the most common VAT mistakes businesses... March 12, 2018 Why cloud accountancy is the future When something comes along which fundamentally changes the way people think, it can lead to hesitancy and scepticism. This is what has happened with “the cloud” as it’s commonly known, where data and software are held on remote servers. A better way of accounting With... February 20, 2018 GDRP and the importance of security Hardly a day goes by without an article appearing in a national newspaper detailing a data leak, some kind of digital security flaw, or the latest cybercriminal activity to be on the lookout for. Taking care of important and sensitive documentation can be a complicated... February 13, 2018 How to get the most out of financial planning for your business Get your financial planning right, and you can ensure the longevity of your business. Decisions are based on sound knowledge and research, and performance maximised through efficiency and clarity of direction. Get it wrong, and it could spell disaster for your company. Basic financial planning... February 6, 2018 5 key accountancy tips for small business owners When running a small business it is important to get the finances right. Many small business fall short because of mistakes and commonly these relate to accountancy, VAT and import or export duties. Following these 5 key accountancy tips will help you to keep your... February 1, 2018 3 ways to simplify your bookkeeping as a sole trader Bookkeeping and accountancy are dirty words to a lot of sole traders. You’re already putting a huge strain on your time and effort to keep your business afloat without having to worry about managing your cash flow. Though bookkeeping may seem daunting when you’re self-employed,... January 19, 2018 Should you register as a limited company in 2018? If you’ve had a good year trading as a sole trader in 2017 then it might be time to look ahead and consider registering as a limited company in the 2018-2019 tax year. There are accountancy benefits to registering as a limited company but it... January 12, 2018 Top tips to get your accounts sorted in 2018 2018 is here, so it’s time to get organised and ready. There is nothing worse than an overflowing bag of receipts or piles of bank statements that seem like they’re never-ending. Take control so your 2018 is less stressful in the office than your 2017.... January 5, 2018 Why accountants can help SMEs prosper and grow Many small businesses in the UK are currently going through an extended period of uncertainty. Worries over the long-term effects of Brexit, combined with an economy that is growing slower than many experts had predicted, has resulted in ambitions for business growth being put on... January 2, 2018 How to choose an accountant for your new business in 2018 If you have recently started a new business, or are planning to in 2018, then there are lots of different things to think about. In amongst all the nuts and bolts of the core business that takes place, the subject of accountancy can become lost.... December 20, 2017 Why shoud you consider using an online payroll solution? There is little doubt that payroll is one of the most essential areas within a business that employs staff. Not only will your employees not be happy if their pay is late or incorrect, but it is vital in terms of your legal responsibilities. Correct... December 12, 2017 Why you should seek VAT advice Taxes and VAT are a nuisance that every business owner has to deal with. While paying taxes is an accepted part of life, having to spend time and money working out how to pay taxes can be beyond frustrating. It is, however, worth taking the... December 6, 2017 3 accountancy tips for freelancers If you have just set-up as a freelance worker then there is no doubt it is an exciting time. The ability to work in a career you love and the flexibility it brings is superb, as is the chance to say goodbye to that morning... November 29, 2017 3 superb book-keeping tips For any company, a key consideration lies in ensuring accurate accountancy for your business. Registering with HMRC along with making sure you maintain excellent business records to complete your tax return are essential. Most businesses will use an accountancy firm to do this as it... November 21, 2017 Key accountancy considerations for sole traders Setting up as a sole trader means that you will become responsible for your own accounts, taxes and books. For many this is an unwanted side effect of turning self-employed, but it is vitally important that you get it right. Failing to manage your accounts... November 13, 2017 A Guide to VAT MOSS You may have come across the term VAT MOSS if you run a company that provides services online. In this blog post, we will reveal exactly what it is, as well as details on VAT registration for MOSS. What is VAT MOSS? If you supply... November 7, 2017 Why thinking big means assisting the small The world of accounting is full of stereotypes – most of them outdated and redundant – that give a false impression of what accountants do and where they can add value to companies. The films and TV shows would have us believe that accountants are... November 1, 2017 Common VAT Mistakes Even if you have a clear system for monitoring VAT administration, and staff trained to use it, in reality, you are susceptible to slip-ups, especially at times of pressure. Errors can slip through that could be insidiously costing your company money. Worse still, you could... October 16, 2017 What business expenses are tax deductible as a sole trader? If there is one area around accountancy as a sole trader that can seem complicated, it is which expenses are tax deductible. Most sole traders will find this area tricky to navigate when completing their tax return for the year. In a very simplified form,... October 9, 2017 The top five benefits of cloud accountancy If you are fed up of spending vast amounts of time sorting financial paperwork and battling with a slow computer, cloud accounting could streamline your accounting process. Not only will your accounting be much more simple, you will also be far more up to date... October 2, 2017 What are the key payroll management mistakes businesses make? Payroll management is absolutely vital for any modern business. As with any accounting task, however, it’s important to ensure you steer clear of the main pitfalls associated with managing payroll. Here are the main mistakes to avoid: Misclassifying employees Modern businesses can be complicated, especially... September 26, 2017 VAT challenges for a growing business Rapid growth in any company is something that most business owners would want to be associated with. Ultimately it means you’re doing something right, but it can also throw up its fair share of challenges. Businesses undergoing rapid growth will need to acknowledge that they... September 18, 2017 The importance of financial statements in business accounting One of the most important aspects of accounting for small businesses is producing annual financial statements. But what types of financial statements should you produce and why? Types of financial statements 1. Invoices Invoices record incoming and outgoing financial transactions between you, your clients, and... August 3, 2017 Accountancy solutions for sole traders As sole traders manage their businesses alone, they are responsible for the administrative, legal and environmental aspects of their operation. With numerous laws and guidelines applicable to businesses, including sole traders, it can be hard to ensure you’re fully compliant. Without specific advice and assistance,... July 27, 2017 The role of accountancy in hotel managment As an accountancy firm that specialises in small and hospitality businesses, we know first hand how important accounting is when it comes to proper hotel management. Without proper knowledge of where money was being spent or how much was left, it would be impossible for... July 18, 2017 Increasing efficiency with cloud accounting For businesses of any size, it’s vital to be as tax efficient as possible. Structuring your business and operations with your tax liability in mind will ensure that you aren’t overpaying when it comes to corporation tax and VAT. Whilst all businesses are liable for... July 13, 2017 4 top payroll management tips for small businesses Efficient payroll management is a major concern for small business owners. Here are a few top tips on making payroll easier. 1. Know important deadlines If you want to retain control of your payroll, it’s important that you know when accounting deadlines and employee returns... June 30, 2017 The changing shape of VAT post-Brexit Who should take the credit (or the blame) for good-old Value Added Tax (VAT)? Our French friends put it down to an idea they had back in the 50s, while our German cousins believe they first come up with the notion many years earlier. The... June 26, 2017 Is your business prepared for digital tax returns? In light of upcoming changes to the revenue process, businesses are facing more regulation than ever. While tax rates will continue to change, there are also practical considerations for companies when it comes to submitting their accounts to HMRC. With many businesses now required to... June 19, 2017 Essential accounting skills for 2017 With the advent of cloud accounting and advances in accounting technology, the landscape of the accounting industry has undergone vast changes – including the skills an accountant is expected to have. So what are the essential accounting skills for 2017? 1. Accounting for knowledge New... June 13, 2017 Three reasons you need cloud accounting software this year The days of Excel spreadsheets and piles of papers are over. With the introduction of cloud accountancy software, businesses are progressing into a new era filled with more accurate data and more manageable finances. Even the government is supporting the introduction of cloud accountancy with... May 23, 2017 Accountancy in 2017: 3 technology trends Accountancy has seen some significant developments over the past few years, some of them hand in hand with technology. Our own organisation has endeavoured to select the most effective of the new technologies available to us, for the benefit of our clients. But which trends... May 17, 2017 SME payroll and new pension laws Every employer in the UK, no matter what size they are or what business sector they operate in, must comply with new pension legislation. The government has created new laws to ensure that everyone saves for their retirement throughout their career – relieving the burden... May 11, 2017 May vows not to increase VAT Theresa May has vowed not to increase VAT, but has not ruled out increases in either income tax or national insurance should the Conservative Party win the upcoming general election. The Prime Minister has also indicated she may scrap the ‘tax lock’ which promised no... May 3, 2017 Make your new accountancy firm fit your business needs! Selecting a new accountant doesn’t have to be a challenge. All you need to have is a firm idea of what is best for your business. Whether you’re a small business that is growing quickly, or a larger firm that needs a breath of fresh... April 24, 2017 The most common reasons why small businesses need an accountant Whether you’re deciding to start up a new company or you’ve been going a few years, it’s likely that there are countless times you have considered hiring an accountant to assist you in the multitude of complex legal issues that you could face. If you’re... April 19, 2017 Should I hire an accountant or get accountancy software? Whether or not you should hire an accountant or use accountancy software is a big question a lot of people ask in business, especially when they’re just starting out and trying to minimise costs. Here we run through the benefits of both to help you... April 18, 2017 4 accountancy mistakes to avoid if you’re self-employed Accounting is a key part of being self-employed. If you get it right you will save money, ensure you meet your tax obligations, and save time. To help you achieve this, here are four accountancy mistakes to avoid if you’re self-employed. 1. Mixing personal and... March 30, 2017 The new flat-rate VAT: what you need to know From 1st April, 2017, a VAT flat rate of 16.5% will apply to limited cost traders. As a result, the VAT owed by affected businesses will rise from this date. Businesses affected will continue to charge customers 20% VAT. How will the new scheme work?... March 24, 2017 The big questions startups should always ask a new accountancy firm Maybe you have just realised you need an accountant. Or maybe your current accountancy firm isn’t delivering. Either way, when you’re a startup business it is essential to ensure you are working with the right accountants. You need to know that the people you are... March 17, 2017 Why your small business should be voluntarily VAT registered If you’re a new business that is under the VAT threshold, you may be thinking about whether you actually wish to be voluntarily VAT registered. It is a decision that a lot of small businesses face and the decision is, of course, yours. Some companies... March 10, 2017 3 simple payroll mistakes made by small businesses Getting your payroll right isn’t as easy as it sounds. Many small businesses make regular payroll mistakes that can cause a massive headache. Here are a few of the mistakes we have encountered at SQK Accountancy, and how you can avoid them. Failing to pay... March 2, 2017 What exactly is cloud accountancy? Chances are you’re well equipped to know what an accountant does. From VAT advice to VAT registration, payroll to end-of-year tax returns, there’s a lot that you can gain from hiring an accountant. But when you hear the words ‘cloud accountancy’, it can feel a... February 23, 2017 Quarterly tax accounts will cost small traders £280, say HMRC HM Revenue and Customs (HMRC) has admitted that the UK’s freelance and self-employed community are likely to have to fork out an extra £280 a year on their tax reporting costs in order to keep up with their impending quarterly digital reporting regime. As part... February 16, 2017 5 signs it’s time to change your accountant When it comes to selecting an accountant to take care of your finances, the choice can be a little overwhelming and this can sometimes cause businesses to make the wrong decision. A good accountant should deliver on their promises. They should be able to make... February 9, 2017 Everything you need to know about self-assessment late filing penalties If you’ve not yet finalised your personal tax affairs for the 2015-16 financial year, time is certainly running out to prepare and submit your tax return to HM Revenue and Customs (HMRC). The deadline for online tax returns to be submitted for the 2015-16 financial... January 30, 2017 3 common business mistakes a good accountant can help you to avoid Running a small business here in the UK in 2017 is no easy task, though with the right help, it can be both lucrative and exciting. Nonetheless, there is a good reason why so many of these fail in the first year. Here we look... January 23, 2017 Five essential payroll tips Keeping up to date with your payroll can be extremely stressful and time-consuming. This is particularly true if you handle your payroll in house. Payroll can swiftly become a nightmare for business owners, but by following our essential tips you will quickly bid goodbye to... January 13, 2017 Confused about exporting? An accountant could help According to the Institute of Chartered Accountants in England and Wales (ICAEW), many British businesses could be missing out on huge financial gains because they have either yet to consider exporting abroad, or because the idea of doing so causes concerns. Research recently carried out... January 9, 2017 3 tips to get your accounts sorted in 2017 An ice cream tub of receipts and a handful of bank statements is every accountant’s nightmare. And often a self-assessment form can be every business owner’s nightmare. But it doesn’t need to be that way – there are some simple strategies that you can put... January 3, 2017 4 easy tips for filling out your self assessment form There are only a few weeks left for you to file your tax return, or you’re in danger of incurring some hefty fines. If you earn an income that doesn’t fall under the PAYE system of an employer, you must file your tax return before... December 23, 2016 Three signs that it’s time to hire an accountant Doing the books is a thorn in the side for most businesses, and whilst many try to do their own to save money, there may well come a time when it’s better to look to an expert for help. Whether you need to seek out... December 15, 2016 How to choose the right accountant for your SME Picking an accountant is like picking a business partner: the right one will support you, encourage you, and help you to thrive, whilst the wrong one will drain your resources and do little to assist your venture. Here at SQK Accountancy, we like to think... December 9, 2016 Why tech is the future of accountancy The world of accountancy is in flux. The industry is in transition, and accountants worth their salt are adapting to new methods and ideas to remain relevant going forward. Traditionally accountancy has been a secure sector. The key tasks carried out by accountants – namely... November 28, 2016 The benefits of letting an accountant handle your payroll When you run a small business, you’ll often find yourself spinning a lot of different plates in order to keep your company running smoothly. From frontline sales and marketing to HR and account management, you won’t necessarily be in a position to have a dedicated... November 22, 2016 What’s the difference between an LLP and a limited company? Selecting an appropriate legal structure for your business is very important, but choosing a structure ultimately depends on the type of operation you wish to run now and in the future. If you’re not a one-man-band and you’re setting up in business with a partner... November 15, 2016 Freelancers: should you become a limited company? At first glance, many freelancers might see becoming a limited company as overkill. A load of paperwork and extra stress, and for what? We often see limited companies as something for people with offices and employees, but for the right freelancer, the switch could save... November 9, 2016 DIY accountancy for small businesses: is it worth it? When you’re a small business owner, multitasking is often a way of life; if margins are tight, you have to roll up your sleeves and become a one-person sales team, admin assistant and marketing manager. After all, if you can fit in a quick round... October 28, 2016 Accountants: a start-up’s best friend When starting your new business, there are a million things to think about: your name, your business plan, your staff, your targets and your branding. Financials can seem like a huge challenge to any entrepreneur, and often get forgotten about until the letter from HMRC... October 21, 2016 5 essential rules of good accounting Let’s be honest – not many people in business like accounting. Accounting is necessary, however, and, when done right, can make your business stronger, more profitable, and agiler. As a starting point, you should follow these five essential rules of good accounting in your business.... October 14, 2016 How to use VAT to improve your cashflow Cashflow is a major issue in business. Even six and seven figure businesses can run into trouble if their cashflow isn’t managed properly. At first blush, VAT seems to be the enemy, but if you work it right you can actually improve your cashflow through... October 10, 2016 What could Brexit mean for VAT? The referendum vote in favour of leaving the European Union has left a lot of people wondering what will happen in different areas of business, tax and finance. As VAT is an EU centralised tax, this has left many businesses feeling the need for professional... September 28, 2016 What does Making Tax Digital mean for your business? The faces in the Government might have changed but Making Tax Digital, one of former Chancellor George Osborne’s flagship policies, shows no signs of being derailed. It’s been described as the biggest shake-up in tax reporting since online tax returns were first introduced, but what... September 22, 2016 9 ways your accountant will save your business money Yes, you need an accountant for tax planning and administration – but your chosen firm can also save your business valuable money and time. Let’s take a closer look: 1. Getting it right from the start A good accountant won’t just deliver tax planning and... September 14, 2016 How exactly can an accountant help me? The traditional perception of an accountant is that they work with companies and individuals to ensure tax returns are filed on time and accurately. Perhaps, if you’ve watched too many films, you may also regard accountants as people that have eternally growing piles of unordered... September 8, 2016 What is the future focus for accountancy? The ever changing world we live in brings a new set of challenges to all industries, with accountancy being no different. So what are the main focus points accountants and businesses must embrace to remain competitive? Cloud adoption The ability to access data anytime, anywhere... August 30, 2016 6 questions to ask your accountant The life of a small business owner is largely centred around balancing the books and ensuring the company can survive another year. To remain on a sound financial footing, seeking advice and support from professionals is essential; but what exactly should you ask an accountant... August 22, 2016 The accountancy landscape is changing The stereotype of accountants being number-loving, grey jacket-wearing, soft-spoken middle-aged men is fading fast. The sector is changing by moving with the times, and the next generation of accountants will be required to have a wider range of skills and abilities. In the past, accountancy... August 15, 2016 4 common problems start-ups experience when hiring in-house accountants When starting a new business, hiring the right staff for your accounting and payroll department can be a difficult and daunting prospect, especially if you aren’t from a financial background yourself. How do you know where to begin? How do you know whether candidates have... August 9, 2016 Handling a HMRC inspection for small-medium enterprises Most small business owners tend to get stressed at the prospect of an inspection from Her Majesty’s Revenue & Customs. At best, it can be an inconvenience which takes up time when you could be otherwise getting on with day-to-day business, and at worst it... July 28, 2016 The basics of VAT registration As your business grows, you must remember to register for VAT. Does your company need to do it, if so, when, and what else do you need to know about it? Here are the basics. Does your company need to register for VAT? Some companies... July 20, 2016 4 reasons why new businesses should outsource their accounting and payroll You’ve just started a new business, and you’ve already conquered some of the more difficult problems that come with getting established. Yet now that you’re ready to begin trading, you need to consider a long term approach to your accounting and staff payroll. Maybe you’ve... July 13, 2016 Benefits of cloud accountancy systems for small businesses As the owner of a small business, there will always be some administrative work waiting on your desk, whether it’s running the monthly payroll or dealing with the end of year accounts, and often these can be left until the last minute. Rather than trying... July 6, 2016 Changes Buy to Let Owners Need to Know About From the 1st April 2016 and during 2017, there are some new changes coming into effect which will impact people buying Buy to Let properties. The new rules cover stamp duty, mortgage relief, wear and tear costs and safety rules. Here the changes are explained,... February 12, 2016 Do you make errors on your VAT return? Have you submitted your VAT Return to the HMRC and just realised you made a mistake? How can you tell HRMC about it, when, and how can you make adjustment to your accounts and, of course, your return? All that and more will be discussed... February 10, 2016 How your business can save money by being green! Paper Sometimes using loads of paper can’t be helped, but if you do use paper then make sure you use both sides. If you can’t then cut up any spare pieces and use them for taking notes. You can bundle some up and staple them... February 2, 2016 What to do if you miss the tax deadline If you missed the deadline for filling a paper tax, which is 31 October, or online self-assessment submissions (SA100 or SA200), which is 31 January, there is not much you can do. However, know that the more you delay, the more fine you’ll have to... January 23, 2016 Registering with HMRC for the first time If you decide to work for yourself, you are called a sole trader. A sole trader must register for Tax and National Insurance. A trader is someone that sells, makes items or offers a service for profit. Working for yourself means being responsible for your... January 22, 2016 More ways to Finance your Start-up Business If you are still trying to get a loan for your start-up, here are some additional ways you could finance your business. Grants Whether you are eligible for a grant or not will depend on your business or background. Bear in mind that it’s very... January 14, 2016 How to Finance a Start-Up Business Most aspiring entrepreneurs are concerned about the lack of capital that could help them back up their viable idea to start a business. However, once you know where to look, securing funding won’t be as daunting as you thought it would be! There are lots... January 8, 2016 How the Marriage Allowance Works The Marriage Allowance enables you to reduce your tax by up to £212. This is achieved by transferring up to £1,060 of your personal allowance to your husband, your wife, or your civil partner. Your personal allowance is the part of your earnings that you... December 22, 2015 How a Small Company can Win its First Contract with the Big League Landing your first contract with one of the biggest firms out here can be difficult, especially if you are self-employed or a small business. Of course, signing a big client will open doors for you and bring credibility. But, getting there seems rather far-fetched. Or... December 22, 2015 Dealing with Difficult Clients Unfortunately, all small businesses have difficult clients. They contact you out of office hours, they want a blow by blow account of the work you’re doing for them, they know better or they want the job doing yesterday. Here are four ways to make your... December 15, 2015 Payroll Questions Answered: Employees’ Pay & Deductions As an employer, you are obliged to operate PAYE, as part of your payroll, unless none of your employees is paid more than £112 a week, has another job, gets expenses and benefits or gets a pension. However, you do need to record their wages... December 13, 2015 VAT Record Keeping A VAT Registered business must issue VAT invoices. These rules are for businesses which don’t use the VAT Margin Scheme. Valid invoices must be on paper, or issued electronically. You must keep a record of the invoices issued, even if you write one out by... December 7, 2015 Small Businesses: VAT-related FAQs Small business and start-ups have lots to think about regarding their operations, especially when it comes to VAT and related issues. For that reason, we have compiled a list of the most frequently asked questions, answered by our experts in a simple fashion saving difficult-to-understand... October 31, 2015 How to change your Year End Date and how it can benefit you? If you want your financial year to run for more, or less than 12 months, you can change your company’s financial year end. You can apply online, by post or ask a company like SQK Accountancy in Manchester to help you with your application. You... October 28, 2015 What information do you need for new starters? If you have a new employee, you will need certain information from him or her, in order to set up PAYE and in order that the new employee’s first wage slip contains all the appropriate information. If the new employee has a P45 this will... October 25, 2015 VAT for property: Zero-rated & Exempt If you are considering to make a property transaction, it is critical to understand the difference between exempt and zero-rated VAT. Here are the basics for your reference. Residential Property If you have an existing residential property (i.e. a house) that you rent or... October 17, 2015 Flat Rate VAT: What you Need to Know In the middle of a rather confusing landscape surrounding the VAT changes and the impact it could have on the Flat Rate Scheme, it is best to navigate through the potential traps, possible savings, and, of course, benefits. Although it appears to be attractively simple... October 3, 2015 Starting your business (Part 3) Now that you have sorted things out, it’s time to deal with the legalities around your business and decide which legal structure will best suit your business. This has to be done prior registering for tax and, of course, start trading. In brief, there are... September 26, 2015 Setting up a Small Business (Part 2) In our previous article, we covered aspects related to how you can turn your idea into a business, and also discussed funding sources that you could use. This article will show you how to research your market, develop a business plan that actually works, and... September 15, 2015 VAT and Selling to EU Countries If you are selling, supplying or transferring goods from the UK into another country, it may well be that you have to charge VAT. If the goods are going to someone else who is registered for VAT in their own country or you are exporting... September 13, 2015 Setting up a Small Business: Step-by-Step Guide (Part 1) Starting a small business involves immaculate planning and critical financial decisions, alongside a series of legal activities. To help you plan, prepare, and manage your new business, here is the first part of a guide with all the essentials you need to know. Of course,... September 10, 2015 VAT Recharge Scheme: FAQs Following our article regarding the VAT Recharge Scheme put in action January 1, 2015, where we provided you with the basics of the new legislation, here are the most frequently asked questions answered by our accounting specialists. Q: I have a small business that sells... September 4, 2015 Starting your own Business Tax and Vat If you are thinking about starting a business, you should begin by writing a business plan. This outlines the ideas you have for your product or service. You can get help for your business ideas from: The National Enterprise Network (England) Business Gateway (Scotland) NI... August 24, 2015 The EU Reverse Charge Scheme: How does it work? From 1 January 2015, the EU reverse charge scheme has caused great controversy and opposition, especially among micro-businesses that are now seriously reconsidering trading in Europe. According to the new legislation, VAT is charged in the country that products are purchased, rather than the country... August 24, 2015 The Importance of Management Accounting Education on SME Performance Considering that SMEs (99% of all UK enterprises) employ about 60% of the country’s workforce, they are the backbone of the UK economy. However, what most entrepreneurs don’t realise is the importance of accounting management and how it can contribute to their business growth, helping... August 23, 2015 Do I Need to Register for CIS? If you pay sub-contractors to do building work for you and you are for example a: • Builder • Labour Agency • Gang Master • Property Developer You must register as a contractor with the Construction Industry Scheme (CIS). You should also register even if... August 18, 2015 5 Accounting Mistakes SMEs Make Running a business is never easy. As a matter of fact, it can be quite challenging at times. We occasionally meet business owners that have placed crucial tasks on the backburner and dedicate all their time and their energy in the daily functions of their... August 17, 2015 The Importance of Payroll Most small business owners find themselves performing multiple roles for their company. With their plate always full, completing payroll can be a real challenge considering the fact that they need to be well versed in accounting, remember all the deadlines, and be willing to research... August 15, 2015 VAT Exempt goods VAT Exempt Goods There are some goods and services that are exempt from VAT and this means that if you sell these goods, you can’t claim the VAT on the purchases or any expenses. Below is an example of goods and services that are exempt... August 15, 2015 Contact UsSQK Accountancy Ltd Jactin House, 24 Hood Street, Manchester, M4 6WX Phone: 0161 706 0444 Email: Info@sqkaccountancy.co.uk Next Workshop There are currently no events. Request A Call Back I consent to my data being held for the purposes of communication Copyright © 2015 - Present. SQK Accountancy Ltd. 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var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-65045388-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); Small Business Accounting Starting a business For New Businesses For Existing businesses Need help as a sole trader? VAT Online Payroll Free Resources Workshops Blog About Us Contact Small Business Accounting Starting a business For New Businesses For Existing businesses Need help as a sole trader? VAT Online Payroll Free Resources Workshops Blog About Us Contact SQK Accountancy: Small Business and Start-ups Specialist Accountants Meet your new accountant SQK Accountancy specialises in all inclusive accounting packages for small businesses. Fill in the form to receive a free no obligation quote for your business. Or scroll to learn more about our friendly team of accountants in Manchester and what we offer. I consent to my data being held for the purposes of communication Your Cloud Accountants in Manchester SQK ACCOUNTANCY As a small and hospitality business specialist we understand how critical it is that you find the right support for your business and that it doesn’t cost the earth. Here at SQK Accounting we aim to provide the best service at the lowest price whether you need basic bookkeeping, your annual accounts or the range of services. Call on 0161 706 0444 Latest Accountancy Articles For Small Businesses and Start-ups Cloud Accounting Benefits for Small BusinessesManaging your business finances might not be the most exciting part of running your own company, but it’s one of the most important. Whether you’re just getting started or you’ve been in business for a while, staying on top of your books can feel like......12 November, 2025 / No commentTax Changes in 2026: What You Need to Know About Making Tax DigitalLet’s be honest, when you hear the words “tax changes,” your brain probably starts to switch off. We get it. You’ve already got enough on your plate running your business. But there’s a big change coming in April 2026 that you really can’t afford to......05 November, 2025 / No commentCould You Have Paid Too Much Tax?When you’re running your own business, tax can feel like one of those things you just want to get out of the way. You file your return, make the payments, and hope it’s all correct. But what if you’ve actually paid too much tax without......29 October, 2025 / No commentBusiness Record Keeping: What to Keep and For How LongWhen you run a business, you hear a lot about the importance of keeping records and paperwork. We know what you’re thinking. “Surely I don’t need to keep every single receipt, do I?” Business record keeping isn’t the most glamorous part of running your business,......22 October, 2025 / No commentOnboarding Your First Employee: A Step-by-Step GuideOnboarding your first employee is a big milestone. It usually means your business is growing, you’re getting busier, and it’s time for some much-needed help. But the process of bringing someone on board can feel overwhelming, especially when it’s all brand new. We’re here to......15 October, 2025 / No comment Our 3 promises We welcome clients of all business sizes and it is our pleasure to work with you, to make a difference and to make your business our business. The Client comes first Here at SQK Accounting we believe that the client is the most important thing and that we should do everything we can to make sure that your business is successful. Always answer our phone Whenever you need to talk to us, whether it by email, phone or face to face, we aim to reply within 24 hours and ensure you have a satisfactory answer within 48 hours. Keep costs low As a growing business ourselves we know the importance of keeping control of costs and so we aim to minimise our costs so that you receive the best support for your business at the lowest cost. Out of hours appointments available We can provide support that other accountants wouldn’t include such as out of hours appointments as we know that running a business can mean working more than a 9 to 5 job. Our financial services We provide a variety of services to support any business regardless of their size and ambition Bookkeeping We can ensure that you have accurate records including monthly profit and loss and even accounts. This means you know exactly how much your business has spent and how much it has brought in. Statutory Accounts The bane of every small limited company is to make sure these are both correct and submitted on time. We can take this off your shoulders and let you concentrate on running your business successfully. Payroll and PAYE With rules regarding PAYE changing constantly it can be difficult for you to keep up. We ensure you are both paying your employees correctly and staying compliant with the regulation. Tax Computations It can be difficult to calculate just how much tax you need to pay and when you need to pay it by. We make it as easy as possible by producing and submitting your tax return. Advice and Guidance Alongside training workshops, we’re able to provide ongoing support and advice. From regular phone-calls to one-off sessions, plus the first consultation is free! Contact UsSQK Accountancy Ltd Jactin House, 24 Hood Street, Manchester, M4 6WX Phone: 0161 706 0444 Email: Info@sqkaccountancy.co.uk Next Workshop There are currently no events. Request A Call Back I consent to my data being held for the purposes of communication Copyright © 2015 - Present. SQK Accountancy Ltd. 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