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Benefits of Outsourcing Your Bookkeeping

As small businesses continue to thrive, many business owners are turning to outsourcing their record keeping so that they use their valuable time on important business development activities. This recommended for the best use of your precious time. It also has other added advantages, among these benefits the following are some to mention: ● Appointing … Continue reading Benefits of Outsourcing Your Bookkeeping

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What is a bookkeeping and why do I have to do it?

Bookkeeping is a part of accounting and is represented by daily records of every financial transaction that occurs within your business. Bookkeeping includes all invoices you create or receive, receipts from purchases, in general – all sales and payments. In the past, people used to record their financial transactions in very simple way by writing … Continue reading What is a bookkeeping and why do I have to do it?

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Companies and businesses will face higher National Minimum Wages (NMW) fines

New National Minimum Wages Crackdown on the card: – the government intended to get tough with companies and businesses that take on young employees but do not pay them the NMW. Now Vince Cable says that a general NMW crackdown is on the cards, sooner rather than later. Higher Penalties: – The penalty for not … Continue reading Companies and businesses will face higher National Minimum Wages (NMW) fines

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Restoring criminal liability for financial fraud

The credit crunch of 2008 as we all know was mainly caused by bankers who finagled several transactions within the mortgage industry or the market of mortgage securisations. The  U.S. government have pressed charge only to the minority of the people responsible for the greatest economic crisis, the worse of the past few decades. The … Continue reading Restoring criminal liability for financial fraud

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British Gov admits that tax excemption doesn’t comply with EU regulations

The British government has finally taken into consideration that VAT exemption for business research supplied between the so-called “eligible bodies” does not comply with the rules and guidances of the EU. HM Revenue&Custom consulted on  December the 20th on a plan to withdraw the exemption, set out in Group 6 of VATA 1994 Sch 9, … Continue reading British Gov admits that tax excemption doesn’t comply with EU regulations

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Important dates for end of year accounts for companies

As you already may know, every company in the United Kingdom must prepare and submit a set of accounts each year, according to the company’s accounting year end date. In some cases companies carry periodic accounts throughout the year, either quarterly or every six months. A company’s accounting year end is normally determined by the … Continue reading Important dates for end of year accounts for companies

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Why Small Business Owners Work Extra Hard and Longer Hours?

Small business owners are highly overloaded with time consuming paper works and to conform to the ever changing compliances, rather than spending their valuable time on strategic thinking and business development. Research by Barclays; found that the average entrepreneur spent 16 hours a week on administration, four hours dealing with regulatory requirements and just eight … Continue reading Why Small Business Owners Work Extra Hard and Longer Hours?

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