Do you know there are over 170,000 charities in the UK, and these are all registered charities? So, the actual number of charities will be obviously much more. Now, what is meant by charitable accounting? Of course, it is nothing but financial practices that these charities must follow to comply with the various laws and... View Article
A huge transformation is happening in UK’s accounting landscape. Use of AI powered tools and other technological advancement are dynamically changing the accounting work procedure fast. These technological advancement are not only streamlining processes but also redefining the roles of accountants and financial professionals. Here in this blog we will explain how AI and automation... View Article
The UK hospitality industry is playing a pivotal role in the nation’s economy. With hotels, restaurants, pubs, and catering services, this industry contributed £54 billion in tax receipts to the Treasury last year. Therefore every business in this sector deals with huge liquid cash, especially during the season. Therefore businesses in this industry face lots... View Article
While it is true that there is a lot of excitement when you are running an e-commerce business in the UK because of an easy access to innovative technology, global reach, and creative market opportunities, it also means that you have to be very careful about the accounting aspect of your business, After all, there... View Article
Business owners should have a separate bank account to better manage business transactions. A business bank account provides numerous facilities. Besides getting an overview of cash flow, you can generate a single business account statement for review. A separate business bank account is essential for those who are trying to expand their operations and scale... View Article
Controlling business costs improves both efficiency and profitability. In real life, it helps business owners increase their ROI & earn a sustainable profit in the long run. Every business entrepreneur needs to analyse the cost (the amount they spend) compared to the amount they earn. Workflow, period & cost management are interlinked. Therefore an effective... View Article
Post-COVID, more and more people worldwide are working as freelancers or self-employed professionals. More people are now opting for a job that offers flexible working hours. Instead of working full-time in an office, they prefer short-term contracts. Of course, this means a better work-life balance but it has a downside too. In the wake of... View Article
Are you thinking of changing your accountant? Your business relies on financial management done by your accountant. If your accountant is skilled, you are more likely to get services that are more than just number-crunching. With their years of expertise and vast knowledge, you may get strategic advice on tax saving, investment opportunities, VAT returns,... View Article
Being a contractor in the UK is all about freedom. You can choose your projects, set your working hours and most importantly, be your boss. However, with all this freedom, you need to be responsible too, especially when it is about protecting yourself and your business. That’s where contractor’s insurance comes into play. If you... View Article
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