Accounting Blog

Learn when business-related market research costs are deductible, how to distinguish revenue from capital expenses, and what documentation you need. This guide explains allowable research costs, pre-trading expenses, travel risks, apportionment, and common pitfalls, helping business owners claim confidently while staying compliant and defensible for tax authorities and audits worldwide.

Selling both physical and digital products creates overlapping tax obligations that don’t always align. This guide explains how sales tax, VAT, GST, and income tax apply to mixed businesses, covering product classification, customer location, registrations, invoicing, platforms, bundles, and practical compliance steps.

Falling behind on bookkeeping is stressful but fixable. This guide shows small businesses and freelancers how to catch up months of accounts calmly: gathering records, rebuilding transactions, reconciling banks, fixing sales errors, and setting simple systems to stay compliant, confident, and ready for tax filing and smarter financial decisions ahead.

Cash-based businesses face unique bookkeeping challenges. This practical guide explains what “cash-based” really means and outlines the essential records you need to track sales, expenses, deposits, payroll, and inventory. Learn how to build audit-ready books, prevent cash leakage, and create simple daily, weekly, and monthly routines.

Confused about crowdfunding income and tax? This guide explains why crowdfunding receipts aren’t all the same, how to classify donations, rewards, subscriptions, equity, and loans, when income is taxable, and how to handle VAT, sales tax, recordkeeping, and reporting so campaigns stay compliant and stress-free for creators and organizers worldwide.

Can you claim professional editing or copywriting as a business expense? This practical guide explains when writing costs are deductible, how mixed-use projects are treated, and when expenses become capital assets. Learn how to classify website copy, marketing content, books, branding projects, and documentation, plus what records to keep compliant.

Overestimating your tax bill can feel safe, but it often ties up cash unnecessarily. This guide explains why overpayments happen, how refunds and credits work, whether interest is paid, and the real cash-flow cost—plus practical tips to estimate taxes accurately without penalties, stress, or unpleasant surprises for individuals and businesses.

HMRC can revisit past UK tax years through enquiries, PAYE corrections, or discovery assessments. This guide explains why a year may feel closed but isn’t, how far HMRC can go back, common triggers, time limits, and practical steps to respond calmly, protect your position, and minimise tax, interest, and penalties.

Learn how to record income from instalment plans correctly. This guide explains earned versus collected revenue, cash versus accrual accounting, receivables, deferred revenue, interest, deposits, and buy now pay later providers. Practical examples show how to avoid overstated profits and keep financial statements accurate across products and services over time.