Is it easy to switch from Sole Trader to Ltd Company? This simple guide sets out some straight forward points.

As a small business owner, deciding how to manage your bookkeeping needs can be challenging. The two main options are DIY or outsourcing to a professional.

The cash basis is where you declare income and expenditure based upon what’s actually been paid during the year, so it’s HMRC’s way of simplifying the process and making it a little bit easier for your self-assessment tax return to be completed.

What records do I really need to keep for my business?

Effectively, a payment on account is an advance payment of tax and Class 4 National Insurance towards your tax bill before your self-assessment tax return has been submitted.

Bookkeeping Tips: No business is too small for proper bookkeeping but sometimes it can be hard to know what you need to do or what needs to be done.

If you’re a sole trader, here’s a breakdown of what records you bookkeeper will need to produce your year-end accounts and personal tax return.

The staged roll-out of Making Tax Digital for income tax self-assessment (MTD ITSA) from April 2026 is welcome, but this delay throws up further questions.

When we start out in business, we choose an accounting software and stick with it. We do this because the thought of changing can be daunting.