Category Archives: Blogs

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How to Choose the Right Accountant: A 5-Step Guide

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Choosing accountants to work with is no easy task.

Perhaps you’ve just started your business and the accounting demands have begun to take up too much of your time. Or maybe you’ve had somebody taking care of your tax needs for years and you just need a change. Either way, it’s important to find an accountant who can meet your needs.

The truth is, the decision depends on you and your business circumstances.

So, while we’re not going to tell you that we’re the perfect accountants for you (although there’s a good chance that we might be – discover who we work with to find out!), we are going to talk you through the steps you should take to make an informed decision, so that you can find the perfect accountant for you.

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Salaries and Dividends: How to Pay Yourself as a Business Owner

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Owning a business isn’t easy: you’re in charge of finding customers, building your brand, looking after your employees, managing funds… and that’s before you consider the fact that you have to sort out your own income too!

It’s fairly straightforward for sole traders and partnerships who can simply withdraw cash from their business.

However, things are a bit more complicated if you’re the director of a limited company as you’re technically an employee of the firm. This means that you can pay yourself a salary as well as dividends – but they’re not one in the same, as they’re subject to different types and rates of tax.

In short, the best way to pay yourself is by taking a modest director’s salary and supplementing your earnings with regular dividend payments. But what’s the most tax-efficient way to go about this so that you can maximise your earnings? Keep reading and we’ll talk you through it.Continue reading →

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Making the Transition to Making Tax Digital (MTD)

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Making Tax Digital has been a hot topic for some time, but it can be confusing to figure out how MTD applies to your business and understand what you need to do to become MTD-compliant. In this guide, we’ll break down what Making Tax Digital is, explain who it applies to, and outline the steps you need to take in order to make the digital transition.

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