Creating firm foundations for start-ups

Annually in the UK, more than 500,000 people start their own business. It has become vitally important for all start-ups to be as competitive as possible, in order to survive. However, besides ensuring that you are delivering the best product or service possible to your clients. There are many responsibilities that new businesses need to … Continue Reading

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