Quick Excel Tip For Non-Accountants

Microsoft Excel is a tremendously powerful tool and even us accountants don’t use all the functionality it offers. We often do things on it without thinking and here at LeeP we thought we’d share a series of tips with you to make your life simpler if you use excel but are not quite a big…

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Mileage Tip Part 2

If you are an environmentally friendly sort/ a fitness bod or simply want to commute by cycle as it’s quicker through traffic then did you know that you can claim 20p/mile for each mile cycled for business? This reduces your taxable income meaning you will pay less tax on your profits, get fitter and be…

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Mileage Tip Part 1

If you travel for work you can claim 45p/ mile you travel up to 10,000 miles in the tax year. After 10,000 miles this drops to 25p/mile- treat as a business exepense to reduce your taxable profit.  This rate is supposed to cover fuel, maintenance, road tax and insurance so you can’t claim for these…

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Equity Financing

One way to raise finance for your company is Equity finance. Offer shares in your company in return for cash funding. This is like what they do in Dragins Den!  Make sure you do this properly by issuing the correct paperwork, getting the correct authorisations and notifying Companies House or else you might find yourself…

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LeeP tip#20 – saving time with Quickbooks

Download the Quickbooks App into your phone and every time you spend on business, take a picture of the receipt using your smartphone camera and hey presto! That’s your bookkeeping done!  Call LeeP for more practical advice on looking after your finances 01733 699033 or email [email protected] The top tier Quickbooks subscription is included in…

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Saving for your tax bill

Tip #9- we know we should do it but many of us still don’t- keep 20% of all your income back for paying your taxes. Put it into a separate bank account that you don’t touch maybe. Then you won’t get hit with a nasty surprise from the tax man months down the line because…

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