CSV Files Download Instructions

CSV Files: Download Instructions Downloading CSV Files from your Bank For us to be able to do our clients accounts at a reasonable cost it is important that our clients are able to download CSV files from their bank accounts and email them to us. A CSV file is a form of ‘spreadsheet’ file made […]

Your First Self Assessment

Your First Self Assessment Tax Return When you do your first self assessment tax return, it’s important that you get things right: This is because when you first start up a new business you are allowed to claim capital expenditure deductions against any equipment that you already own, that is now to be used in […]

Pensions Tax Relief

Pensions Tax Relief Everyone who pays into a pension scheme is entitled to pensions tax relief. Depending upon how your pension deductions are arranged, you may be entitled to more pensions tax relief than you are getting. Millions of people in the UK are entitled to additional pensions tax relief that they are not claiming. […]

Using Spreadsheets for Your Accounts

Using Spreadsheets for Your Accounts Using spreadsheets to do your accounts used to be the standard way of doing things until the advent of database type specialised accounts programs, such as Sage, Xero, Quickbooks, FreeAgent, etc. A spreadsheet is an easy way to get your business transactions to us to do your accounts. We will […]

CSV Files Download Restrictions

Bank CSV Files: Download Restrictions You would think that banks would allow you to download any of your transactions whenever you require … unfortunately this is not the case. Some banks and building societies impose restrictions on the dates and transaction numbers of the CSV files that you can download. Here are some typical problems:- […]

Getting the Best Accounting Prices

Decide on Your Own Involvement At one end of the spectrum we have clients who are tech and software savvy and can find the time to do their own bookkeeping. At the other end, we have clients who are just too busy or don’t have the inclination to go through a software or spreadsheet ‘learning […]

Getting your Transactions Data to Me

I have many clients who do their own bookkeeping and rely on me just to check over what they’ve done and make amendments where necessary. This is done using software such as FreeAgent, Sage, Xero, Quickbooks, FM Accounts or some other suitable software. The software allows you to enter transactions manually and/or import your transactions […]

Do I Need to Register for VAT

Do I really need to register for VAT? HMRC Guidance states that you must register for VAT within one month of your turnover (or total sales) exceeding £85,000 or if you expect your turnover to exceed £85,000 within the next thirty days. The language is straightforward, but in practice you must monitor your annual turnover […]

Can HMRC Access My Bank Account

Can HMRC access my Bank Account? Since June of 2021 when the Finance Act 2021 was passed, the answer is ‘yes’. HMRC can access the bank account of anyone that they suspect of tax evasion or tax fraud. HMRC can issue a ‘Financial Institution Notice’ that requires a third party, such as a bank or […]

Best Company Structure

What is the best company structure for my business? In the UK there are only four options for a company legal structure, and all of them have their advantages and disadvantages. However there are a great number of misconceptions about the relative merits of some of the company types that you can choose for your […]