Basis period reform: Answers to 6 questions that accountants have about the...
Basis period reform marks a significant shift for you and how some of your clients pay their taxes. In this article, we answer questions that you as an accountant and the team at your practice may...
View ArticleHow accountants and bookkeepers can embrace the new tax year with confidence
The start of a new tax year presents your practice with an opportunity to set the stage for success. From embracing automation and optimising workflows to staying abreast of legislation changes, there...
View ArticleNavigating new tech frontiers: 5 action points from Digital Accountancy Show...
Accountants and bookkeepers were back in force for Digital Accountancy Show 2024 in London. With more than 3,000 attendees, 100 speakers, and 160 vendors, it was the largest the event has ever been....
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Top 5 insights from Accountex 2024
Accountex 2024 was buzzing with insights, caffeine-induced energy crashes, and sore feet. There were mind-reading beer taps, VR games, and battles for the best merch. Most important, however, were the...
View ArticleMTD for ITSA: What businesses and accountants need to know
Digitalisation of tax is a huge focus for the UK government. Making Tax Digital (MTD) for VAT is already running and demonstrating the benefits of digital working for many businesses. The next...
View ArticleHow to unlock AI’s potential in your accounting practice
“AI won’t replace accountants, but accountants who do not use AI will run the risk of missing out on key opportunities. It’s about augmentation, not replacement, elevating your role to new heights.”...
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AI accounting: revolution, impact, and future
Accountancy dates back thousands of years, and it has certainly come a long way from clay tablets and abacuses. But despite the huge evolution the practice has undergone throughout its history, right...
View ArticleWhat is meant by “fiscal year” in finance and why is it used?
When starting a business you can easily become bogged down in financial deadlines—from submitting returns to paying taxes on time. This is especially true when grappling with the various, often...
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Not all carbon offsets are equal: a guide to help you pick the right schemes
Duncan Oswald CEnv FIEMA, Climate science lead at Sage Earth, looks at the complex world of carbon offsetting, giving you a guide on what to look out for. We look at: Sage Net Zero commitment and...
View ArticleWhat you need to know about changes to HMRC data collection
The latest changes to HMRC data collection will almost certainly affect your business if you are an employer. You may also be impacted if you’re a shareholder or you’re self-employed. You’ll need to...
View ArticlePayroll Glossary: A guide to the abbreviations, concepts, and terminology of...
Payroll: Understanding the basicsPayroll abbreviations and concepts from A-ZApprentice minimum wage rateAutomatic enrolmentEmployeeEPS—Employer Payment SummaryFPS—Full Payment SubmissionGDPR—General...
View ArticleThe formula for net profit margin: A complete guide
Knowing how much profit you’re going to make from every pound you earn can feel like a dream… or a nightmare for many business owners—but it’s not an impossible task. Finding out the true financial...
View ArticleHMRC data collection payroll—what you need to know about RTI
The HMRC data collection payroll changes will affect companies up and down the country. There are two major changes to payroll data collection on the horizon. In this article, we’ll explore both and...
View ArticlePraise for payroll: Celebrating National Payroll Week
Payroll professionals are the unsung heroes of so many businesses. Yet, they play a crucial role in ensuring that your company is compliant with tax and employment regulations—and that your cashflow...
View ArticleThe formula for operating profit
Operating profit is the heartbeat of your business, letting you know just how well your core operations are actually performing. Whether you’re an experienced accountant or a small business owner...
View ArticleHow accountants can work efficiently with ledger-less clients
A huge challenge for many accountants is clients who don’t use a digital ledger, cheerfully leaving them with the time-sapping task of manually entering and reconciling financial data line by line....
View ArticleAllocation of Tips Act—What UK businesses need to know
As a hospitality or service-sector business owner, you understand the hard work your staff puts in and how much customer tips are appreciated. That’s why the Allocation of Tips Act 2023 was created—to...
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Accountex Manchester 2024: Act now on AI and MTD
Didn’t get a chance to drop in to Accountex Manchester 2024 on Tuesday, 17 September? Don’t worry: we cover the key points to note in this blog. The keynotes across 4 theatres saw a strong focus on...
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Accountants: How new company size thresholds could impact you
The planned reduction in company size thresholds may be a welcome cut in red tape for small businesses, but for accountants it brings challenges as well as opportunities. In March 2024, the previous...
View ArticleWhat is financial reporting?
For many business aficionados, understanding financial reporting can feel like decoding a secret language. But it doesn’t have to be that way. This type of reporting isn’t just a necessity; it’s also...
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