Accounting tips that will help your business
Every week we publish accounting tips to help your business but remember, our accountants are never too far away, so for more help and advice on Accounting and Taxation, contact your Local AIMS Accountant today.
Remember to always keep thorough records and if you need help, get expert help.
You might be able to pay less tax and National Insurance if you convert to a limited company.
If you are a cash business, make sure you keep good records! Up-to-date records are essential to avoid HMRC being able to challenge you.
Spending the money to hire a professional accountant means you’ll have an expert who knows what they’re doing.
Hiring an accountant to look after the accounting side of things frees up more valuable time for you to do what you do best; run and develop your business.
Every business has different needs so one size doesn’t fit all. Sometimes getting a bespoke accounting package will work wonders for you and will get the job done properly.
Don’t stow away your receipts in a box until it bursts. If you don’t have the time then get yourself a qualified accountant to help you.
Make sure your accountant is doing more than adding up the numbers.
With the hectic pace of day-to-day management, it might not feel like a priority, but come tax time you will be glad you set aside just a few minutes each week to review the numbers and keep things organised.
Value good advice. Chances are if you spend enough time trying to figure out an accounting issue, you could. But the reality is you've got a business to run.
The vast majority of UK taxpayers pay their dues. But did you know that you can save money and even get money back on your taxes?
An accountant is probably the most important asset of any business. They will advise and take care of all financial matters while you do what you do best; run your business.
Self-assessment is creeping up so if you need help, please seek advice from a qualified accountant.
A little time spent reviewing the budget at least monthly will ensure that you don’t have any nasty surprises down the track. Whatever you do, don’t put that budget in a virtual bottom draw.
Cash-flow management is absolutely vital to overall business success and without it your business could be at risk of failing to meet its true potential.