Keeping your books in check
Bookkeeping has changed enormously over recent years. It is now all about digitising the information so that it can be used to provide information for you, as well as meet your bookkeeping obligations. Cloud accounting, such as Xero and QuickBooks Online, are so much quicker than traditional desktop systems like Sage and QuickBooks, or even spreadsheets, it is definitely worth investing some time figuring out which would be best for you and your business.
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Your questions answered
Can I get tax relief on school fees?
Not directly. However, you could create a trust which would receive dividends. The dividend income would then be used to pay school fees. This type of planning is quite complicated and relies on you giving away some of your trading company to the trust. If you have grandchildren which you’d like to support in this way it m…read more
Is it better to be a sole trader or a limited company?
Generally, there is a tax advantage for businesses operating though a limited company because the rate of Corporation Tax paid by companies is lower than the rate of Income Tax and National Insurance paid by sole traders. However, a limited company comes with various complications which means this option not right for everybody. Our advice will be tailored to your individual situation.
Get support with your books today
Good Bookkeeping is an essential part of running a thriving business. Call us to find out how our team can take care of this for you and keep you constantly update to date with your business figures.