Streamline your Business with Professional Bookkeeping Services

26 June 2024

Running a small business is no small feat. From managing daily operations to strategising for growth, the demands on your time and resources are immense. Amidst all of that, bookkeeping can perhaps feel like daunting tasks that eat into your productivity. This is where we at Books and Business come in – as your dedicated bookkeeper, committed to transforming your financial management and ensuring your business thrives.

 

Why Choose Professional Bookkeeping Services?

 

1. Accuracy and Compliance

Bookkeeping is the backbone of your business’s financial health. Accurate records are crucial for making informed decisions and ensuring compliance with tax regulations. Our expertise in bookkeeping ensures that every transaction is recorded meticulously, financial statements are prepared accurately, and your business remains compliant with all relevant laws and regulations.

 

2. Time-Saving

Time is one of your most valuable assets as a small business owner. By outsourcing your bookkeeping tasks to a professional, you free up significant time to focus on what you do best – growing your business. Let us handle the numbers while you concentrate on the rest of your business.

 

3. Financial Insights

Understanding your financial position is key to making strategic business decisions. We can provide detailed financial reports and insights that help you track your business’s performance, identify trends, and make informed decisions. Whether it’s budgeting, forecasting, or identifying cost-saving opportunities, we are here to provide the financial clarity you need.

 

Customised Services for Your Unique Needs

Every business is unique, and so are its financial management needs. We offer tailored bookkeeping services that are designed to meet the specific requirements of your business. Here’s what you can expect from Books and Business:

 

Comprehensive Bookkeeping Services:

- Accurate recording of all financial transactions

- Preparation of financial statements (income statements, balance sheets, cash flow statements)

- Bank reconciliations

- Accounts payable and receivable management

- Expense tracking and management

 

Partner with us for Success

 

Choosing to work with a professional bookkeeper means investing in the future success of your business. With our expertise, dedication, and personalised approach, you can achieve greater financial clarity, compliance, and efficiency. Let’s work together to streamline your financial processes and set your business on the path to sustained growth and success.

 

Ready to take the next step? Contact us today to schedule a consultation and discover how our bookkeeping services can benefit your business. Together, we can build a solid financial foundation that supports your business ambitions. Click to get in touch

Christmas Opening Hours 2024

by PH186232 • 17 December 2024
Books and Business Christmas opening hours 2024

Plans for ID verification from Companies House

by PH186232 • 22 October 2024
Starting in early 2025, Companies House will begin rolling out new identity verification requirements for company directors and persons with significant control (PSCs). This means that, in the future, before filing information on the Companies House register, directors will need to prove their identity. This change is designed to reduce fraud and improve transparency. The reforms are part of the Economic Crime and Corporate Transparency Act 2023, which aims to combat fraudulent activity. As part of these reforms, accountancy firms and solicitors registered for anti-money laundering (AML) supervision will be among the first required to comply, starting in early 2025. By spring 2025, accountants and other professional service providers, who are registered for AML supervision, will be able to become authorised corporate service providers (ACSPs). This means they’ll be able to help clients verify their identities and pass that information on to Companies House. By autumn 2025, these new ID verification requirements will be mandatory for new directors and PSCs when setting up a company or making new appointments. If your business already exists, you will have a 12-month transition period until autumn 2026 to ensure your directors and PSCs comply with these requirements when your next confirmation statement is due. This is a significant change, therefore it’s important to stay ahead of these requirements to avoid any disruptions to your business.

Reminder: No Change to Tax Rules for Selling Personal Items on Online Marketplaces

by PH186232 • 26 September 2024
S elling your used clothes or old furniture online? No need to worry about HMRC! With the rise of online marketplaces, many people are taking the opportunity to sell unwanted personal items, such as used clothes or old furniture. Recently, there have been some rumors circulating that HMRC is cracking down on people who sell in this way, potentially classifying these sales as a side hustle. However, we want to remind everyone that there has been no change in the tax rules for selling your personal possessions. Key Points to Remember: Selling personal items like used clothes, old furniture, or household goods does not constitute a business activity. HMRC does not tax individuals on the sale of personal items as long as they are not sold with the intent to make a profit or operate as a business. HMRC is not classifying casual sellers as "side hustlers". If you’re simply getting rid of unwanted items, you don’t need to worry about being taxed on these transactions. Business vs. Personal Sales: The distinction lies in whether you are trading goods regularly with the aim of making a profit. If you’re selling your possessions to declutter or for other personal reasons, this is not considered a business, and no tax is due. What Does Count as a Business? If you’re buying items specifically to sell them for a profit, running a store, or regularly selling in bulk on online platforms, then you may be classed as trading. In this case, income from these activities may be taxable, and it’s important to keep accurate records. But for most people just looking to sell their old clothes or used furniture, there’s no need to worry. HMRC is not clamping down on casual sellers, and you won’t be taxed on sales of personal possessions. Stay informed and make sure you understand the rules—but rest assured, nothing has changed when it comes to selling your own personal items online.
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