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
Category
Accountancy blog
The importance of good bookkeeping for any business
Bookkeeping for any business is simply the recording of your day to day business transactions into ledgers. Bookkeeping is the building block (for any business) for preparing your year-end accounts, vat return and tax return. No matter what type of business you are running it is absolutely imperative this is kept up to date and … 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
Advantages Of Using Bookkeeping Services
Running a business can be time-consuming, stressful and even overwhelming at times. We understand how easy it is to lose track of managing, monitoring and keeping a thorough record of transactions and finances on top of everything else. It’s a legal obligation to keep these records & not doing so adequately can result in fines … Continue Reading
