If you are thinking of starting a business, or have started one recently, there are some things you should take into consideration.
Here’s a basic checklist of do’s and don’ts that you should always keep in mind.
Guides & Tips
You will find useful guides and tips on these pages. These are in .pdf format so you can download and read at your leisure
When you decided to run your own business, did you consider how you were going to do your own accounts?
Did you think “I’ll do it myself because it’s cheaper” or did you weigh up the pro’s and con’s of getting a professional to do it?
Read these two extracts and then consider what is best for you and your business.
Which is better claiming mileage or claiming the actual expenses incurred on the vehicle?
If you use your personal vehicle for your job, you are entitled to claim a mileage allowance for its use. There are of course some limits. The amount you can claim is currently at 45p per mile up to 10,000 miles then 25p thereafter.
The need to cut costs to a minimum is one of the challenges all businesses must face. But more so for the small or fledging enterprise. Many start-ups will see sales revenues trickle in only after a few days, weeks or even months of operation. This is why many start-ups open shop using their own homes or garage as their office or production plant to save on prohibitive rental costs. They also multitask. The owner takes the role of general manager, salesperson and bookkeeper. In that manner, he saves on salaries. But this is not such a good idea.
Whether you are filing tax returns late or don’t have time to chase debts, there are five classic signs you may need to hire a bookkeeper.
One of the most common stories is the small business owner who tries to do the bookkeeping themselves only to end up in a mess when the tax return is due at the last minute. Any of the latest accounting software packages can make this easier, but a bookkeeper can also help.
