What Is Making Tax Digital?

What Is Making Tax Digital?

Jul 17, 2018 | FAQ

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?

Jul 9, 2018 | FAQ, 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’ profits after taxes. A sole trader is: liable to...
Why do I need an accountant?

Why do I need an accountant?

Apr 27, 2018 | FAQ

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...
What is a profit and loss account?

What is a profit and loss account?

Feb 18, 2018 | FAQ, Profit and Loss

Ok, your accountant has just sent you your profit and loss for the year, but what is a profit and loss account and what do the figures actually mean? Simply put, a profit and loss account statement details how much money your business has made or lost over a period of...