Can I Claim Expenses Travelling to Work if I am Self-Employed?

There are many benefits to self-employment such as job satisfaction, a good work/life balance, and creative freedom. But the true reality of your business (besides those listed) is your profits. Profits are important, helping you to fund the growth of your business, and providing you with the money you need to pay your bills and…

How Do I Show Depreciating Assets in My Accounts?

Every time you purchase an asset, youโ€™re investing in the future of your business, but the value of equipment and assets tends to reduce over time – a process known as depreciation. Itโ€™s important you calculate and track this depreciation accurately. There are many benefits to this, a major one being that it will help…

Recording Benefits in Kind in Your Bookkeeping

Recording Benefits in Kind in Your Bookkeeping

Some employers provide perks, known as Benefits in Kind (BiKs), to employees and directors that aren’t part of their salary, such as:   Company cars used for private trips Non-business entertainment Assets bought by the company that are for private use Private health insurance Gifts which are given as a result of the employee’s performance…

Protecting Your Business from Fraud

Business fraud occurs when scammers, from either outside or inside the organisation, falsely represent themselves or lie for financial gain. It can have a massively destructive effect on your businessโ€™s finances, reputation and more. Itโ€™s easy to get lost in the day-to-day of cash flow management and the hundred other things demanding your time, but…