Put a group of bookkeepers and accountants in the room and the conversation will always get round to, “What a shambles HMRC are!” What are the HMRC responsible for? For small businesses, the UK HMRC (Her Majesty’s Revenue and Customs) manages tax collection and provides guidance on tax obligations. It ensures businesses pay the correct […]
HMRC – Nemesis or Saviour? Read More »
One of the key services we offer at Tandem Business Solutions is an Annual Business Health Check. Health is something we all focus on at some point, whether it being for ourselves or businesses. As the saying goes,” we only know what we know!” So again, I am talking about reviewing your business accounts! Why
Annual Business Health Check Read More »
One of our goals at Tandem Business Solutions is to provide an updated and accurate P&L report to our clients 2 weeks after the month end, being fully updated to the previous month. This then provides our clients with a clear picture as to how their business is performing and in a timely manner to
The Profit and Loss Report- Part 2 Read More »
Is the tax system complicated? Does one rule fit all? We all know that of course being tax compliant is very complicated and one rule certainly does not fit all. Even though I’ve been in practice for over 10 years and now I consider myself well versed in most taxes and compliance, however, there is
Why is tax so taxing! Read More »
Whether dividends or PAYE is the most tax efficent for your small business is a common question we get at Tandem. For many years a company director was advised to pay themselves a minimal director’s salary and then profits permitting to make up their income by dividends, solely because of the tax advantages. IS THIS
As a business owner we must never forget that CASH IS KING! That is why I consider it imperative to have in place a robust system for credit control, to ensure the business is receiving the monies owed on time. I totally get that credit control is a prickly subject, with business owners concerned of
How can I set up a robust Credit Control process? Read More »
How times have changed! I remember the times where a business owner only asked one question, “How much money is in the bank account”. Fortunately, nowadays the request is for the Profit and Loss (P&L) monthly report. So why is this a P&L report important to review? A Profit and Loss (P&L) report, also known
The Profit and Loss Report Part 1 Read More »
If you are a Micro Entity company, then YES we can! Now read on to find out more about whether your company can qualify as a micro entity and what that means to you and your business. So which companies can qualify as a Micro entity? Micro-entities are very small companies. Your company will be
Can a Bookkeeper complete and submit my year end accounts for a Limited company? Read More »
The answer to this question is a most definitely big Yes! Compiling a budget is one of the most useful tools any business owner could implement into a monthly, quarterly, or annual report. If we do not track something, how can we control it! What is a small business budget? A budget for your small
Should I start preparing a budget for my business? Read More »
Unfortunately, this is a question we are being asked more and more lately! When it comes down to the nitty gritty it does not matter how much profit you make or how well you are doing, because without cashflow, there is no business! Cash is King! Cash flow is the financial heartbeat of a small
My business is running out of cash so what can I do? Read More »