A great audit delivers an objective assessment of your business accounts and your current business circumstances. When your audit gives you peace of mind from knowing your financial reporting is accurate, you have robust internal controls and are aware of and have minimised potential fraud, it’s a great audit.
Continue readingAuthor Archives: Karen Chase
How going green is good for your business
Turning your business green to become more environmentally-friendly is more than just a positive environmental choice. Customers and employers are deliberately seeking out businesses with ‘greener’ working practices as sustainable living and working grows in importance. We’ve seen a huge increase in the number of social media posts about it, for example, and our recent article about the tax and environmental benefits from driving an electric car was one of the most popular blogs ever. It’s clear that as well as being good for our planet, there are economic benefits of going green.
Continue readingCash is King – Here’s how to generate cash right now
Covid-19 has hit many businesses hard. Many of us are working long hours to keep solvent: others are failing through no fault of their own, whilst a few are flying. The reason is simple: As a nation, we were not spending during lockdown. This means limited or non existent cash flow for impacted businesses.
Continue readingConstruction Industry Reverse Charge Rules New Legislation… are you confused?
Reading through the updated guidance for CIS NEW VAT Reverse Charge Rule for the Construction Industry might leave you confused. Here we have outlined what you need to consider:
If you supply constructions services, the reverse charge will only apply if you answer “Yes” to ALL of the following questions:
Continue readingWhat happens when you change accountants?
Many businesses and individuals change accountants. Maybe your needs have changed as you’ve grown and you want to work with an accountant offering multiple services. Or maybe working with an accountant based nearer to your offices will give you the benefit of a more personal service? Whatever the reason, once you know what you need, you can begin the search for a new partner. But what happens when you find the accountancy practice that’s right for you? And what do you do next? Here’s the answer.
Continue readingThe benefits of cloud-based accounting systems for SMEs
A cloud-based accounting system is a package of software that you purchase the right to use but it is stored off-site on a remote server – the cloud – rather than on your desktop. It’s cost-effective, can be simple to use, is secure, and provides all the relevant financial information you need at a click of a button. It has been said that small and medium-sized businesses are the biggest beneficiaries of cloud accounting for all of these reasons but cloud computing is not for every business. If you have minimal transactions, for example, or you are the type of person that just isn’t tech savvy, then we would strongly recommend retaining your manual spreadsheet as it is possible to get in an accounting pickle. However, if you’re a SME with manually intensive bookkeeping requirements, you can gain real benefits from implementing a cloud accounting system. Here are a few.
Continue readingThe Chancellor Rishi Sunak’s mini-Budget: everything you need to know
Chancellor Rishi Sunak has unveiled his summer economic update in a bid to mitigate the impact of the Covid19 pandemic, with the aim of boosting job creation through a government ‘plan for jobs’ and encouraging consumer spending
Continue readingCOVID19: VAT deferral for UK Businesses
VAT deferral for UK Businesses: If you are a UK VAT registered business and have a VAT payment due between 20 March 2020 and 30 June 2020, you have the option to:
- defer the payment until a later date
- pay the VAT due as normal
COVID19: Immediate 3-month filing extension for company accounts
If your company accounts will be late because of the impact of Covid-19 you can take advantage of the immediate 3-month filing extension for company accounts.
However, you MUST apply before your filing deadline.
Continue readingCOVID19: Business as usual, but from a super safe distance
Letter from the Directors, Karen, Keith & John
Following the unfolding events of COVID19 over the past two weeks, we want to reassure our clients that, albeit we are facing uncertain times, HB Accountants is still very much open for business and Team HB are prepared for any disruption that may occur.
Continue reading