Accounting Blog

Learn how to accurately record subscription and recurring payment income for your business. This guide explains cash vs. accrual accounting, deferred revenue, proration, refunds, chargebacks, taxes, and setup fees. Master subscription revenue recognition to produce precise financial statements, ensure tax compliance, and make informed business decisions.

Learn how to claim business storage and rented space expenses for tax and bookkeeping. Understand what counts as allowable costs, including units, warehouses, document storage, and mixed-use scenarios. Get tips on apportioning personal use, tracking expenses, and keeping records to ensure storage costs are correctly claimed as business deductions.

Discover how to manage post-closure income for sole traders. Learn what counts as business income, how late payments, platform payouts, refunds, or insurance settlements affect taxes, bookkeeping, and reporting. Follow step-by-step guidance to record, classify, and handle receipts after closing your business to avoid surprises and maintain compliance.

Are you a sole trader wondering about business rates? This guide explains when you need to register, how rates are calculated, and when reliefs might apply. Learn how home offices, rented studios, and commercial premises affect liability, and get practical tips to avoid surprise bills while planning your business costs effectively.

Discover how to claim expenses for your garden office or shed with practical, tax-smart strategies. Learn the differences between sole trader and limited company rules, methods for calculating business-use percentages, allowable costs, and tips to keep claims defensible while avoiding future tax complications. Maximise deductions sensibly.

Learn why changing your business address mid-year matters for taxes, licenses, payroll, and sales tax. This guide explains mailing vs. physical addresses, federal and state tax impacts, recordkeeping, and practical steps to stay compliant. Avoid penalties, missed notices, and multi-jurisdiction issues during your business relocation.

Learn how to claim home utility expenses for business use, including gas, electricity, and heating. This guide explains reasonable apportionment methods, device-based calculations, simplified allowances, and record-keeping tips for self-employed, freelancers, limited companies, and side hustles to maximize legitimate tax deductions while avoiding common mistakes.

Learn how to handle pre-registration income when starting as self-employed. Understand the difference between your business start date and registration, choose cash or accrual accounting, record income and expenses accurately, and keep clear evidence. Avoid common mistakes and stay compliant while tracking early trading activities for your tax return.

Discover how businesses can claim legal expenses as tax-deductible costs. Learn which legal fees—such as debt recovery, employment advice, contract reviews, and regulatory compliance—are typically deductible, and which are treated as capital. Understand mixed-purpose bills, revenue vs capital rules, and practical record-keeping tips to maximize legitimate deductions.