Concise Accountancy - London Accountants

General Business Quiz

1. A petty cash book:

Is used only in limited companies

Is used when there is a bank overdraft

Is used for small cheque payments

Will keep down the number of entries in the general ledger.

Latest UK Business News :

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HMRC Online Filing

UK tax authority Her Majesty Revenue and Customs (HMRC) are encouraging UK businesses to administer their tax returns and related forms online for the obvious reasons that it is quick, cost effective and information can be transmitted securely to them.

The key dates are set for businesses to use HMRC online system compulsorily. It is important for businesses to be aware of these important dates. Failure to comply may result in penalties and fines.

April 2009	PAYE	Businesses with 50 staff or more are required to file P45, P46 and similar pension information online.
April 2010	PAYE	All employers must file P35 and P14 online regardless of the number of staff they employed.
April 2010	VAT	VAT registered businesses with annual sales of £100,000 or more are required to file their VAT returns online and pay VAT electronically. Newly registered businesses are encouraged to follow suit at the earliest.
April 2011	PAYE	Payroll related forms are to be filed online by all employers.
April 2011	CORP TAX	Businesses trading using limited companies are required to file their companies tax returns online using XBRL and pay their tax bills electronically.

Further reading on online filing can be obtained at www.hmrc.gov.uk/online.

Concise Accountancy provides taxation services which include taking care of your legal obligations under HMRC requirements. Feel free to contact us should you require have any question on doing it online the HMRC way.

Many small businesses sign up for our Business Startup Packages which include preparing and filing of tax returns for their companies and also their company accounts. These accounts packages are fixed priced and provide good value for money.

Managing Your Personal Taxes
Income Tax | Taxation services | Minimum Wage UK | Partnership/LLP Tax | Payroll and PAYE services | Penalty Interest Rates | Pre-Trading Expense | Working Out Income Tax | Person Income Tax

Bookkeeping And Accounting For VAT
Accounting for VAT | Bookkeeping With Spreadsheets | HMRC Online Filing | HMRC Telephone Helpline | Penalty Interest Rates | Types of VAT Products | VAT Annual Accounting Scheme | VAT Cash Accounting Scheme | VAT compliance services | VAT Flat Rate Scheme | VAT Rates | VAT Records | VAT Overview | Where Should I Send VAT Application To? | Business VAT Registration Service

Employing people and Paying Your Staff
Employee National Insurance (NIC) | Hire New Staff | Minimum Wage UK | PAYE Deductions | PAYE Forms | Payroll and PAYE services | Payslip For Employees | Staff Income Tax

Fixed Fee Accountancy Services For Startup and Growing Companies
Accountants fees | Fixed Fees Accounting Packages | Dormant Accounts Package | Premium Accounts Package | Startup Accounts Package

Starting_a_business

Tel: +44 (0) 20 7612 4111

I provide IT consultancy services to UK businesses and I have no knowledge whatsoever about doing accounting books. I was very keen to learn to do it myself. I spent hours reading bookkeeping reference books, learning double entry and I was very proud that I understand the basic accounting so I did my books.

When the time to do my company year end accounts, I discovered that I have been recording information incorrectly and that I have to reorganise everything. my former accountants charged me a fortune to fix my incorrect records.

My advice to all is that it is worth to talk to people who know about these things to avoid disappointment and unnecessary work in a year’s time.

Time is expensive and sometime it is worth spend a little for a big gain in your business.

K Duncan
Owner of a small IT consultancy company

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