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Author: Sarah Walburn

  • Should you hire or outsource accounting

    Should you hire or outsource accounting

    SPOTLIGHT ON: Should you hire or outsource accounting? All you need to know to make the right choice.  Running a successful business entails astute financial management, and at the core of this is the crucial decision of how to handle your accounting needs. Should you bring a full-time, in-house accountant into the fold, or does…

  • Personal financial planning 2024

    Personal financial planning 2024

    SPOTLIGHT ON: Personal financial planning in 2024: New year, new strategy. The new year marks the start of new beginnings, so there’s no better time to revisit your personal financial strategy. Drawing up an economic plan with clear, achievable goals can improve your long-term financial health and help protect you and your family against external…

  • Sole trader verses limited company

    Sole trader verses limited company

    So you are thinking of setting up in business. The first thing to say is that the decision about what trading vehicle to use is not the be all and end all. If you set up as a sole trader, you can incorporate at a later date, all be it at more cost. This post…

  • VAT Accounting Schemes

    VAT Accounting Schemes

    In contrast to standard VAT accounting, there are several alternative ways you can account for VAT that could save you time and money. Annual Accounting The main advantage of using Annual Accounting is that you only prepare one VAT return a year, so the burden of paper work is much less. You will have to…

  • Starting out

    Starting out

    Now you are trading, be it through a sole trade, a partnership or an LLP, what do you need to do next? Sole Trader First, you need to register your business with HMRC – click here for the link. Next, your accountant, tax agent or adviser acting on your behalf, will need to apply to…

  • Employed v Self-Employed

    Employed v Self-Employed

    When considering whether to set up as self-employed, it is important to ensure that you meet the conditions set by HMRC, otherwise they could deem you to be employed, and the liability for employers NIC will fall on your “employer”. If the answer is ‘Yes’ to all of the following questions, it will usually mean…

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