Making Tax Digital: What Is It and Why Is It Important?

We’re living in the digital age and deserve a transparent and accessible tax system. We also shouldn’t need to tell HMRC what it already knows. On the face of it reducing the burden on taxpayers and providing clearer information can only be good, right?

Bookkeeping as a Sole Trader

You’ve just started your own sole trader business and you’re full of excitement and keen to get on with doing what you love, and that’s probably not bookkeeping. Good financial records are the foundation of your business and could determine its success. Following these three simple steps will mean that bookkeeping is no longer a burden.

Making Late Payments a Thing of the Past

So you’ve won the client and completed the work, the hard part’s over now so you can sit back and wait for the money to come rolling in on schedule…right? Sadly this isn’t the case for a lot of small businesses, according to data from Bacs Payment Schemes Ltd the average UK small business is owed £36,186 in unpaid invoices. Late payments can cause big problems for your cashflow, as well as taking up a lot of your time and distracting you from the areas of your business you enjoy.
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