An annual company account is a financial document summarising a business's financial performance over a year. It includes revenue, expenses, assets, liabilities, and equity, used to review the overall financial health of companies for future investments. The annual company account is prepared by the country's accounting standards and is usually published within the first 12 months of the...
Thank you for your business in 2022. We wish you a Happy and Prosperous New Year - we hope it brings you health, wealth, and happiness. For business owners, this is often the time of year when you reflect on where you are at and think about your business goals for the year ahead. These could be lofty...
“Focus on having Business sustainability through a period of uncertain weakness, and building flexibility to respond quickly when your particular sustained upturn comes along.” - Tony Alexander, Economist. For business owners, it is hard to predict the marketplace swings and roundabouts at the best of times. But these are times of huge personal and professional uncertainty and the anxiety...
Maybe it’s been an extremely busy month. Maybe you’ve just run out of time. Whatever the reason, if you need to arrange a last-minute Christmas party for your business, we’ve got the tips you need. Unfortunately, you’ll probably find that venues and activities book up early. So, you’ll need to be inventive. Here are a few ideas for...
Construction businesses have a lot to keep track of. From material costs and employee hours to project deadlines and safety regulations, a lot goes into running a construction business efficiently. An accountant and bookkeeper can help you track all the essential details and ensure that your business runs smoothly. Here are some of the many ways your accountant...
As a small business owner in the UK, filing taxes can be a daunting and complex task. With the ever-changing tax laws and regulations, it’s no surprise that many small business owners are tempted to tackle their own taxes. But, filing taxes on your own is a risky and costly venture and can lead to mistakes, missed deductions,...
Giving occasional gifts to your staff is a great way to keep them engaged and motivated. But how much can you give before these gifts become taxable? Certain lower-value gifts can be given to employees (including directors) tax free. These have to be classed as ‘trivial gifts’ to qualify. But what counts as ‘trivial’ in these circumstances? What...
Give As You Earn (GAYE), commonly called payroll giving, has been around for a long time, yet many UK businesses are still ignorant of it. Because they don't understand it or don't have the time, many of those who have don't engage in the system. However, employers won't miss out on this excellent chance, as social responsibility and...
Helping to fund the causes that are close to your heart is one of the positive side effects of running a successful business. But you also need to keep track of what you’re donating, keep HM Revenue & Customs (HMRC) informed and make sure you’re ticking the compliance boxes. Here’s a quick summary of the rules for companies...
As a small business owner, you always look for ways to save money and reduce expenses. One way for you to do this is to make your small business tax-efficient. Taking advantage of certain tax breaks and deductions can lower your tax bills and help you keep more of your hard-earned money. There are several ways to make...
Accountancy247 provide cost-effective, high value solutions to meet every clients needs regardless of the size of their business.
Hi, i'm James. If you have any questions please email me at sales@accountants247.co.uk
