Skip to main content Skip to search

Blog

vat-registration-for-small-business-cambridgeshire

When is it necessary for a business to register for VAT?

Do you know if your trading income for the last twelve months and estimate for the next twelve months?  If either of these are likely to be over £83,000 you will need to register for VAT, but you may wish to voluntarily register due to the type of business or for commercial reasons. 

Read more
online-accountant-for-small-business-cambridgeshire-1180x590

Making Tax Digital – HMRC Quarterly Accounting

Making tax digital is the government’s aim to bring all accounts, tax returns and other tax items within an online filing system. 

Whilst this is not occurring for a few years you should not be complacent and we recommend going digital and online accounting as soon as possible to ensure you are ready when quarterly accounting to HMRC comes into force.

Read more
accountancy-small-business-tips-blog

How to create a small business budget

Established smart businesses recognise the significance and value of preparing monthly accounts, budgets and cash flow. It helps them forecast where the business is spending money and how savings can be made.

Read more

EU VAT CHANGES FOR 2015

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.

Read more

USES OF FINANCIAL REPORTS

Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more detailed understanding of the figures.

Read more

FUNDAMENTAL ACCOUNTING

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more

SAVE ON TAXES

Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. It was introduced in 1973 and is the third largest source of government revenue after Income Tax and National Insurance. It is administered and collected by HM revenue and customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the European Union.

Read more

ACCOUNTING 1 ON 1

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more

PROPER INVOICE INFO

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more