Accounting Blog

Preparing accounts during business shrinkage requires a different mindset. This guide explains how to manage cash, assess going concern, control costs, handle inventory and debt, and redesign reporting for resilience. Learn how accurate, cash-focused accounts support survival, restructuring, and strategic downsizing decisions with clarity, speed, and confidence in practice today.

Can you claim logo design and rebranding costs as business expenses? This guide explains how tax authorities classify branding spend, the difference between revenue and capital expenses, common scenarios, and practical record-keeping tips to help you claim costs correctly, confidently, and consistently while avoiding common tax mistakes and audit issues.

HMRC requests for bank statements can worry sole traders, but they are often routine compliance checks. This guide explains why HMRC asks, how to verify requests, organise statements, meet deadlines, understand your rights, prepare reconciliations, and respond calmly to reduce risk, penalties, and stress during self assessment enquiries with confidence.

Learn when accounting and bookkeeping advice is an allowable business expense. This guide explains what you can claim, how to separate business and personal fees, common grey areas, and practical record-keeping tips for sole traders, limited companies, and partnerships to reduce risk and stay compliant with clear examples and explanations.

Filed your tax return on time but can’t pay the balance? This guide explains what happens next, how penalties and interest work, and your options for payment plans, hardship relief, and avoiding escalation—so a temporary cash shortage doesn’t become a long-term tax problem with clear, practical steps you can use.

Learn how to record mixed VAT and non-VAT sales correctly, including standard-rated, zero-rated, exempt, and out-of-scope income. This practical guide explains net versus VAT splits, invoicing, POS takings, VAT codes, common mistakes, and workflows that keep your bookkeeping accurate, compliant, and audit-ready for businesses of all sizes and industries worldwide.

Learn how tax works when you earn from multiple side hustles. This guide explains income classification, tracking expenses, handling self-employment tax, managing thresholds, allocating shared costs, and avoiding common mistakes—so you can stay compliant, reduce stress, and turn multi-hustle income into an organized, predictable tax process.

Learn how taxes work when you sell services through online marketplaces. This guide explains business income, gross versus net profit, platform fees, VAT/GST issues, cross-border rules, withholding, and recordkeeping. Understand your tax status, avoid common mistakes, and stay compliant while freelancing globally across platforms and jurisdictions worldwide with confidence today.

Learn how to record deposits and later balance payments correctly. This guide explains when money counts as income, cash vs accrual accounting, deferred revenue, retainers, refundable and non-refundable deposits, and common bookkeeping mistakes—so your financial statements, taxes, and reports accurately reflect what you’ve actually earned in real business situations today.