How to avoid common bookkeeping mistakes

Solid bookkeeping is essential in every business. Not only is it important for compliance purposes, but it lets you see exactly how much cash you have coming in and out of your business. It means you can make strategic decisions based on accurate assessments of your...

How reliable is my Xero bank feed?

As a small business owner, Xero is your financial hub. The cloud-based accounting software offers control and clarity over your numbers, helping you manage your cash flow, identify opportunities and forecast what’s on the horizon. Xero is a brilliantly intuitive tool...

What should I do to save tax in 2023?

At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs and see where you can save tax in 2023 before the end of the tax year on 5th April. An obvious tax planning point would be to maximise your ISA...

Making Tax Digital – What’s the new guidance for VAT

HMRC have issued new guidance on the penalties that they impose for non-compliance with the Making Tax Digital (MTD) for VAT rules. In particular, there is a penalty of up to £400 for every VAT return a business files without using ‘functional compatible software’. ...

What is my best bet for combating stagflation in 2022?

Post-pandemic supply chain bottlenecks, combined with rising energy prices and the economic effects of the war in Ukraine are seen as the main contributors to the current economic challenges. The rise in energy prices is already starting to impact the profit margins...