Accounting Issues

fraud risk assessment

What Is a Fraud Risk Assessment and How to Conduct it?

As a business owner, you need to work on your business reputation for its long-term sustainability to maintain market confidence and public trust. But frauds and misconducts can adversely affect those efforts leading your business towards legal, monetary or reputational damage. For this reason, successful businesses are using effective strategies to mitigate those risks. That’s […]

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statutory rights

What are my Statutory Rights, and when do they Apply?

The relationship between an Employer and employees requires two ways to meet each other’s expectations. This post will demonstrate to maintain the balance for employment statutory rights between what an Employer expects from his employees and vice versa. Also, we will cover when these rights apply. In some of the cases, statutory rights can only

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Residential and commercial tenants

Here’s All you Need to Know About Support for Commercial and Residential Tenants 

Like other sectors, Covid-19 has brought bad news for business owners. The situation is getting worst in different countries, forcing all these businesses to close down. The UK Government introduced a couple of schemes in this regard to support all the small business owners (commercial and residential tenants) achieve their business goals.  The ban on

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statutory accounts

Why Do You Need Statutory Accounts And Filings For your Business?

Statutory accounts are also known as year-end accounts or annual accounts. These are a collection of financial reports prepared at the end of a financial year. If you’re running a limited company (limited liability partnership) in the UK, it is compulsory for you to prepare statutory accounts. They are used to report the financial activities

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Local Restriction Support Grant

What’s Local Restriction Support Grant?

How to apply for government grants is one topic most people are overly concerned about. COVID is here, and there’s a lot the government is offering in terms of support. There’s one goal everyone is primarily interested in: to make sure all businesses make out of this COVID situation without collapsing. So ‘how to apply

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Income tax scheme

Amazing Income Tax Schemes For Small Businesses: Tactics to Grow Your Small Business 

If you own a small business or startup, you don’t have to worry about the tax implications as HMRC has introduced income tax schemes for small businesses for their ease. HMRC has divided the income tax schemes into two parts: cash basis and simplified expense.  These schemes are introduced to aid small businesses in managing

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workplace testing

Letter to businesses on workplace testing – more than 50 employees

In an effort to counter the spread of COVID-19, a letter has been issued by the Business Secretary, Kwasi Kwarteng, to all businesses in England to register for free workplace testing kits for staff who cannot work from home. He requested businesses to test their workforce who have not shown any symptoms, yet can be

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Self-Assessment Tax Return

Tips to Make Self-Assessment Tax Return a Lot Easier

No one likes dealing with tax, and definitely not the self-assessment tax return. With so many things that can go wrong and so many other pressing tasks you need to take care of, the motivation to complete the self-assessment may be virtually non-existent. This can cause us to do perhaps the worst thing possible: wait

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accounting advisor

How to Be a Better Accounting Advisor

The end of the tax year is around the corner, and it’s the perfect opportunity for all accountants to be better accounting advisor for their clients.    Let’s start from January.    What were your priorities? Must be the clients in trouble that needed some serious troubleshooter /accounting advisor 2020 might not have proved out to

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Importance of corporate culture

Importance of Corporate Culture in Making your Strategy a Success?

So what’s the importance of corporate culture in making your business strategy a success? Let’s state for a fact that no matter how good your business strategy is if your office culture is not supportive enough, it’s not going to help out. We’re not saying that strategy doesn’t have a very big role to play.

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