Dispelling the myths of the world of accountancy - here are five myths busted - consider yourselves informed!
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Is your Accounting ready for Christmas?
Is your Accounting ready for Christmas?.
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Is your Accounting ready for Christmas?
If you are a retailer then you know exactly what I am talking about. September is in many ways the last month before the seasonal storm begins and that is for retailers and accountants alike. Accountants are hoping to get as many tax returns done as possible before the Christmas break and the January mania that follows it. Retailer are preparing for heavy footfall, massive online traffic and hoping their stock levels have been gauged perfectly. Autumn long nights represent the perfect opportunity for you to get your books ready for the seasonal peaks. There are many challenges placed on
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Accounting Trivia Infographic
10 great resources to help you start your own business
We are completely bias but without hesitation on this account. You usually get a free consultation with an accountant – a try before you buy deal. This gives you a fantastic resource to talk with an expert about what you need to get your business started and what they know from their years of experience about businesses like yours. Grab a cup of tea/coffee and talk to an accountant about what they could do for you and what they would advise you to do for yourself. Yes you can come to us for a free consultation and a chat if
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Accountancy Basics Q&A
There are a range of questions accountancy firms get asked on a regular basis from serious stuff like ‘my turnover exceeded £81,000 one month but this was a freak occurrence – what do I do?’ to ‘can I call my business Froggy Feet Footwear or do you think that has been taken already?’ ABC Accounting Services is more than happy to answer any questions you may have whether you are a client or not. To start addressing some of the more common accountancy questions we are going to provide a Q&A blog once a month. Any questions you send in
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What is Self Assessment and when should you go Limited?
What is it? Or rather: what is it other than a phrase that terrifies many, stresses out more, and bores or baffles everybody else? It is mainly for the self-employed so whether on your own or in a partnership. It also affects directors of limited companies, some pensioners, subcontractors, people who have rental properties, and those people who are employed but fortunate enough to be paying high rate tax. How do I even begin to approach Self-Assessment? If you are in business make sure you keep accurate and up-to-date business records, an accountant can help you in this
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Commonwealth Games launch tax exemption for athletes
Finally, international athletes are granted an income tax exemption for the Glasgow Grand Prix and the Commonwealth Games. The exemption only covers the two international events for this year but this has surely got to be the first steps towards a permanent strategy by HMRC. Usain Bolt represents the highest profile name of the athletic world to have spoken out against the UK tax system. It seems that even he has neither the speed or the inclination to out run HMRC. Until now, HMRC have imposed a levy on visiting athletes’ sponsorship, endorsement earnings and appearance fees. Some athletes actually
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Tax relief – don’t miss out!
The main areas for tax relief are known to many but if you are just starting out or you do your own accounts then you could easily miss out. Here are six areas where you should be claiming tax relief if you qualify – some of these can amount to huge savings for individuals. 1) Business mileage or fuel MILEAGE: You could get tax relief when you use your own vehicle for business, or on fuel you buy when using a company car. You can also trace this back several years to claim relief if a self-assessment has not been
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The boss is on holiday!
What do some people get up to when their boss goes on holiday? Let’s just be clear – no-one at ABC has ever dreamt of participating in the following common side effects to boss absences: 1. Extra long lunch 2. A little surfing on google, Facebook, eBay, Amazon… 3. Sit in the bosses chair and take a moment to wonder…a moment to just imagine 4. You leave a little earlier from work 5. You chat about your boss to your colleagues at normal volume instead of in whispers 6. You are a little more relaxed than usual 7. There is
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