Use of Home as Office (Claim Allowable Expenses)
What are allowable expenses when using the home as office space to work? Depending on the work you do, you might be able to claim expenses back for using your home as an office, either by claiming for office equipment like computers and furniture or even renting part of your home to your company. This […]
Is Cash Accounting Right For Your Business?
There are two main accounting systems to choose from; these are ‘cash basis’ accounting and ‘accruals’ accounting. Which of these methods you use will depend on the size and nature of your business, as they each have different advantages. In general, cash accounting is best for ease, while accruals accounting is superior in terms of […]
How to Prepare Limited Company Accounts
Private limited companies in the UK have to prepare a set of accounts each year. Known as annual statutory accounts, they relate to the 12-month period ending on the company’s Accounting reference date (ARD). The ARD is the compamy’s official year-end as recorded with Companies House. The annual accounts are drawn up using financial records […]