Category: Northants Accounting blog

calculate VAT

Making VAT Work Effectively

Making VAT work for you Value Added Tax VAT in the UK is a sales-based tax, which is designed to target the end consumers and non-VAT registered businesses. VAT registered businesses are required to charge their customers VAT on their sales (usually 20%) and pay it over to HMRC. They will also be entitled to

Read More »

Hiring 101: Understanding Your Responsibilities

As your business grows you’ll probably need to increase the size of your team by hiring people. PAYE The UK operates a system called PAYE (pay as you earn), this means that employers are responsible for deducting tax from their employees. This means that if the correct amount of tax isn’t deducted then HMRC will

Read More »

How to keep your records effective

Why keep your records effective? One of the main reasons you have an accountant is to produce a set of accounts and the associated tax work. A set of accounts is essentially a summary of the income and expenditure in your business as well as its assets and liabilities (debts). The key word here is

Read More »

GDPR – Everything you need to know

The internet has changed the world. A thief is no longer required to hold a bank at gunpoint to loot money. They can connect to the internet, hack databases and steal more money than they could probably ever find at their local bank. For a long time, consumers and businesses were unaware of the fact

Read More »

4 Reasons Why You Should Be Working with An Xero Accountant

In this constantly developing world, along with technology, even accounting has made its headway! And that’s certainly partly down to the creation of outstanding cloud accounting software like Xero. Not only does this software simplify and automate the accounting procedures most accountants used to waste so much time on, but it also offers valuable insights

Read More »

Taxes: Everything You Need To Know About When To Pay Them

Running your own limited company can have some serious tax advantages compared to working as a sole-trader or being in employment. However, having to hand over money to HMRC to cover a tax bill is always a painful experience. It can be a little bit easier if you’re aware of what the bill is likely

Read More »

6 Useful Tax Tips For SMEs

Nobody enjoys paying taxes, right? Well, that may be so, but unless you’re happy to see yourself behind bars for many years, you’ve got to accept the fact that it is just part of life (and certainly part of running your own business), so it’s best to just get on with it. But don’t worry,

Read More »

Get your banking and cashflow sorted out

Bank Accounts We can’t stress enough how important it is to have a separate bank account for your business. It simplifies so many things when it comes to your records and will save you hours of time in the long run. This means that you only put business income and expenses through the business account

Read More »

How to Ensure You’re Prepared When the Tax Man Visits

HMRC Investigation – Those are two words that fill most people with dread, even if you do everything in your power to follow the rule book to a T. Honest taxpayers, with financial records on a tight rein, really have nothing to fear… but nonetheless, the prospect of an impending visit is still enough to

Read More »

How to Choose An Accountant That’s Right For You

The right accountant will become a trusted partner of whom you can depend on, who can offer the best advice and guide you past any obstacles that present themselves as your business grows. So, as far as starting and growing a business is concerned, these are the fundamentals that will mean you keep your doors

Read More »
Things Every SME Needs to Succeed

6 Things Every SME Needs to Succeed

In this increasingly competitive world, there are lot of entrepreneurs who succeed, but along with that comes a lot of entrepreneurs that fail too. To launch a successful small and medium sized enterprise (SME), there are certain requirements that need to be met in order to achieve success. These things revolve around the following: People

Read More »
Surprising Facts About Accountants

9 Surprising Facts About Accountants We Bet You Didn’t Know

Do you picture accountants as stern, pen-wielding, suit wearing people who get all their kicks from crunching numbers? Perhaps you think they aren’t too much of a laugh and are more than a little dreary, too. But hey, we have news for you if that’s the case, because accountants are just like everyone else. The

Read More »
Abridged Accounts Illustration

Everything You Need to Know about Abridged Accounts

Similar to the Holy Bible, the UK’s Company Law too has got its new testament. As per ‘the new regulations’, small companies have been instructed to not file abbreviated versions of their accounts. But there is still a lot of confusion and speculation surrounding these changes. This blog will take you through the basics of

Read More »
3 Reasons Why SME's Fail Within The First Five Years

3 Reasons Why SME’s Fail Within The First Five Years

Starting your own business certainly seems like a glamorous idea to begin with but making it a reality is much more difficult than conjuring up dreams of success and money in your head. Here are some hard truths: Around 50% of businesses tend to fail within the first five years, 8 out of 10 entrepreneurs

Read More »
4 Things You Need To Know When Starting A Small Business

4 Things You Need To Know When Starting A Small Business

Starting a small business comes with both its ups and downs and it certainly isn’t the greatest career path for the faint hearted. Truth be told, sometimes it’s somewhat like driving in heavy fog where the visibility is so bad that you struggle to see your own hand in front of you. There can be

Read More »
A Best-Practice Guide For SME's In 2018

A Best-Practice Guide For SME’s In 2018

If you’re an entrepreneur who is struggling to cope with marketing your brand and staying ahead with the latest business trends, then 2018 is the perfect year for you to set some best-practice objectives. In order to make 2018 your most successful and prosperous year to date, Northants Accounting thought it would be helpful to

Read More »
5 Accounting Mistakes That Will Cost You - And How to Avoid Them

5 Accounting Mistakes That Will Cost You – And How to Avoid Them

Accounting is an essential part of any business, and book-keeping mistakes can sometimes cost your business a huge amount, so it’s best to ensure that you have everything in order before it’s too late. With the help of cloud based accounting software, it has become easier for small businesses to manage their accounts, but there

Read More »
5 Ways An Accountant Can Help Your Small Business

5 Ways An Accountant Can Help Your Small Business

There are many ways an accountant can help you and your small business, probably most of which you’re not even all that aware of. An accountant can be helpful to any business, regardless of size, because having your finances in order is of the upmost importance for any company if it is to be successful.

Read More »
The 4 Reporting Obligations Every Limited Company Needs To Abide To

The 4 Reporting Obligations Every Limited Company Needs To Abide To

Sometimes, running your own business and being the last point of call in the hierarchy can come with some daunting responsibilities, and that includes abiding to numerous mandatory requirements. It’s a common scenario: the manager or owner of a limited company going about their day to day business, ensuring things are running smoothly, only to

Read More »
Scroll to Top

Search a topic or subject