Every silver lining has a cloud

I’m sure you would have seen in the press or heard people talking about HMRC’s plans in regards to Making Tax Digital (MTD). For those of you who haven’t heard – you soon will! MTD is a government initiative that sets out a vision for “a transformed tax system and will mark the end of…

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Faster VAT filing with Xero

VAT is the bane of many small and medium sized business owners lives. A tax that has recently celebrated its 40th birthday, VAT was introduced as a simple affair and has, over the years become increasingly complicated for business owners.  Meeting your VAT obligations includes demonstrating that your VAT records are complete and up to…

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Dealing with small business bookkeeping

Like it or not, bookkeeping is an essential part of running a successful business; big, or small. Many small business owners start out by doing their bookkeeping themselves and then perhaps progress to employing a part-time bookkeeper as their business grows. Quite often, as businesses continue to grow, a bookkeeper might even become a full-time…

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MP warns MTD is MTQ

That’s Much Too Quick, by the way. Just over a month ago, we wrote a blog which explained the significance of an open letter about Making Tax Digital (MTD) sent from MP Andrew Tyrie, to our new Chancellor, Philip Hammond. We intended to write a follow up based on Mr Hammond’s response; however Mr Tyrie…

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Making Tax Digital

Amidst the headlines and upheaval of the EU referendum, change of PM and Chancellor, and the disarray in which the opposition finds itself, the more mundane wheels of government may have appeared to turn a little slower than usual over the Summer recess. However, the Government’s flagship policy of Making Tax Digital (MTD) is continuing…

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Using online invoicing to improve cashflow

Invoicing, by it’s very nature is one of the most important elements of any successful business. No matter how good your products or services, no matter how strong your sales team, if your invoices aren’t issued timeously and accurately, as well as being paid on time, all your efforts could be wasted. Invoicing, by it’s…

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10 great reasons to choose Xero

An online accounting software solution that brands itself simply as “Beautiful accounting software”, Xero is currently taking the market by storm. Offering pretty much the full gambit of solutions required by any small or medium sized business, it’s easy to see what makes Xero so attractive. When it comes to accounting software, Xero software has…

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Why SMEs are choosing outsourced accounting

Irrespective of whether you run a one-man, or one-woman band, or a medium sized enterprise, accounting is a fact of life and outsourced accounting needs to be seriously considered. No matter whether you do your accounts through obligation, or because you want to keep your finger firmly on the financial pulse of your business, having…

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Moving to online accounts

At The Smart Accountants, we understand that online accounts may seem like a completely alien idea at first. However, like everything else you now take for granted online, it will soon become one of your normal business activities once you decide to give it a go. 24/7 access to all your accounting information With more…

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Budgeting – managing various parts of the business

Business budgeting has long been acknowledged as one of the fundamental keys to sound financial management. Granted, some very small businesses may only ever produce a budget under pressure, or to obtain funding from a bank, but as businesses grow then accurate and up to date budgets become extremely useful indicators of how well (or…

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