Expenses and allowances – do you know what you can claim for?

The separation between “allowable” and “non-allowable” expenses are complex For small business people. When running your own company, you will incur various running costs, expenses and allowances, and the separation of “allowable” and non-allowable” is important to understand. Generally speaking, you can deduct from your turnover all costs incurred for the purpose of generating business … Continue Reading

How do you know if you need to make a self-assessment tax return?

Her Majesty’s Revenue and Customs – or more often known as HMRC. Uses many different methods to collect tax and self-assessment (short for self-assessment tax return) is one of these. The term ‘self-assessment’ alludes the fact that it’s the individual’s responsibility to work out how much tax they should pay. However, it’s not always clear … Continue Reading

Bookkeeper – Why your business may benefit from hiring one

Hiring a bookkeeper may cost money but it could actually save you money (and stress) in the long run. There are multiple reasons a business may benefit from a professional bookkeeper like ours here at Millhouses Accountancy. We’ve been helping businesses throughout South Yorkshire keep on top of their business’s finances for years. So, why … Continue Reading