Typically, workers are paid using PAYE (Pay as you earn). When using PAYE, national insurance, loan repayments and income tax are taken into account before the employee is paid. However, if you are self-employed and are not using a PAYE system, you need to ensure that all income tax, national insurance and student loans are being paid in full, every year.
Accountancy is essential for every business, regardless of if you’re a start-up, sole trader or fully featured business. Outsourced accounting gives a lot of benefits to start-ups because you will gain financially. If you’re good at something never do it for free Spending your time on what you are good at. If that means running […]
When it comes to the financial aspect of your company, it is helpful to set up a business bank account so that all the money coming in and out of your business is accounted for. It can get confusing to merge your personal account with your business income and outgoings. Read on to find out everything you need to know about Business Bank Accounts.
When it comes to small to medium enterprises, there can be a huge number of services required from accountants for success. From advisory services to auditing, it can be a chore to find out exactly what you need. In this blog, we’ll simplify these accounting practices and help you understand exactly how to get the best accounting and advisory services possible.
Charities hold other people’s money and therefore must ensure that their financial records comply with specific charity legislation while satisfying the needs of all stakeholders. Charity companies raise a lot of money. However, when trying to keep financial records up to date, things can go wrong.
By law, every charitable company must prepare a set of accounts and a trustees’ annual report. Accounts and reports aim to provide a clear image of your charities activities and financial position. The trustees’ annual report is also where you can show off the work you do to the public and to funding bodies.
These requirements may seem overwhelming to a smaller charity, it doesn’t have to be, and outlining your aims and activities clearly can assist you in managing your finances well, and ensure your organisation is more effective.
Outsourcing – Personal Vs Professional. What is it, why is it important to know and how can you avoid it from your business?
Anyone who received income that was not covered by PAYE in the year to 5th April 2014 needs to complete a tax self assessment by 31st January. The deadline for submitting paper tax returns passed on 31st October 2015 – so you will need to do it online.