When Should I Hire An Accountant? LeeP Small Business Guide

There are good reasons for hiring an accountant at different stages of your business’ growth. From a business plan to company formation, mortgage application to tax investigation, an accountant can make life easier for you at each step. Like all small business owners who are looking to save money, you may think you can’t afford…

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What On Earth Is A Trial Balance? LeeP Accountant’s guide

You’ve probably heard of it, you may well have a good idea of what it is, but many small business owners we’ve spoken to are a bit flummoxed by what a Trial Balance actually is! A Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first…

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Next 5 Tax Mistakes That Could Be Costing Your Business

You Saw our first 5 list of tax mistakes a couple of days ago here, here are the next 5! Make sure you’re not doing them! 6. You’re misclassifying your employees, including your spouse Your tax liability will be different depending on if you use independent contractors, employees, or a mixture of both. Employees must…

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Reminder Of Changes To The VAT Flat Rate Scheme From Today – LeeP

Changes to the VAT Flat Rate Scheme Today – A reminder   Flat Rate Scheme (FRS) This is a timely reminder for all businesses using the FRS that changes to the scheme come into effect TODAY: 1 April 2017. The first matter to consider is if your business is a “limited cost trader”. You can check whether…

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Top 5 Business Trends In 2017

As technology and the marketplace continue to move forward at a rapid pace, many small businesses can be left wondering what’s next. It’s important to see the trends before they happen so you can capitalise on them for your business. Being one step ahead could mean the difference between a profitable year, and a bankruptcy….

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A Guide To What Records You Must Keep – LeeP Accountants Peterborough

There is often confusion around what records you must keep in your Company, how long you should keep them for and what format they must be kept in. LeeP’s guide can help demystify these questions for you:   Limited Company Records: You must keep details of: directors, shareholders and company secretaries the results of any…

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MTD Has Been Delayed By 1 year For Some SMEs

12 Month Delay In the Spring Budget this year, Hammond said, that unincorporated businesses with a turnover below the VAT registration threshold would be allowed to delay the introduction of quarterly reporting by one year – “This will provide them with more time to prepare for digital record keeping and quarterly updates.” Furthermore – following…

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New Tax-Free Childcare Scheme Which The Self-Employed Can Also Use!

New Childcare Scheme which will also be available for the Self-Employed! LeeP Accountant’s summary on the new Childcare scheme which for once seems to give a ‘nod’ to those who are self-employed! A new childcare scheme called tax-free childcare (TFC) will replace the much loved childcare vouchers which was operated by Employers. The new scheme will…

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