What Is Making Tax Digital?

What Is Making Tax Digital?

So what is making tax digital? Well In his March 2015 budget the Chancellor announced that this was “the end of the tax return as we know it”. The key change is that businesses will be required to digitally file tax returns on a quarterly basis. So what...
What is a sole trader?

What is a sole trader?

What is a sole trader? A sole trader is an individual who trades on his/her own on a self-employed basis. If you start working for yourself as a sole trader, you will own and run your business as an individual and will keep all the business’s profits after taxes. A...
Can I claim an expense if I don’t have the receipt?

Can I claim an expense if I don’t have the receipt?

Can I claim an expense if I don’t have the receipt? What happens when you can’t find a receipt for a business expense? Don’t panic, you may still be able to claim for some expenses without a receipt. You never received a receipt Sometimes you don’t receive a receipt,...
Home Office Expenses Explained

Home Office Expenses Explained

If you are self-employed and work from home you can claim home office expenses on your tax return. Which home office expenses are tax deductible? Mortgage or rent Utilities – gas and electric Council tax Telephone and broadband Water Property repairs How much can I...
Why do I need an accountant?

Why do I need an accountant?

When starting a new business most people are told to get themselves an accountant. However, many people wonder 1, what an accountant can actually do for them and 2 if they really need one so why do I need an accountant? So what will an accountant do for me? Everyone...
Quickbooks ProAdvisor Status

Quickbooks ProAdvisor Status

North Devon Accounts expertise in Quickbooks has been recognised with the awarding of Quickbooks ProAdvisor Status. This means that we are qualified providers of Quickbooks. Our services include setting up your Quickbooks account, training for you and your staff and...
5 top tips for doing your own bookkeeping

5 top tips for doing your own bookkeeping

Here are 5 top tips for doing your own bookkeeping, doing your own bookwork can seem a daunting task when you are starting a business. However, good bookkeeping is crucial to the day-to-day running of a business. Here are five top tips to help get you started. Start...
Sole Trader, Partnership or Limited Company?

Sole Trader, Partnership or Limited Company?

So you’ve decided you want to be your own boss and work for yourself. Now what? Are you going to be a Sole Trader, Partnership or Limited Company? One of the first decisions to make is how you are going to trade. You can be a sole trader, form a partnership with...
Accounting Terms Explained

Accounting Terms Explained

Accounting Terms Explained – as accountants, we are often guilty of using a lot of terminologies which makes very little sense to a lot of people. Many clients have expressed a need for a simple guide to accounting terminology so hopefully this will help....