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For the last week our team have enjoyed the company of a sixth form student on work experience. Rosie is considering accountancy as a career and wanted to experience the type of work involved.  Whilst we are not accountants we are responsible for keeping the accounts records before they are passed to an accountant so our work was a good insight to the foundations of accountancy.  This was a completely new experience for us so our bookkeepers planned carefully the things that they thought would be useful for her to see and do.…
Last week HMRC finally announced their revised plans for Making Tax Digital (MTD) after it was put on hold whilst the election process took place.  Originally MTD was to be implemented for businesses over the VAT registration threshold from April 2018 but this now won't be mandatory until April 2019.…
It is surprising how many emails I receive asking how much we charge for bookkeeping.  Of course that is the uppermost thought when deciding to get some outside help with something.  How much is it going to cost me? But how can I give you a price when I have no idea what you need, what your business does, whether your accounts are up to date or in a mess or whether you have a VAT return due next week. We do not have a "one price fits all" package. …
The VAT threshold for 2017-18 is £85,000 which means that if your business has taxable sales equal to or above this amount over a 12 month period you must register for VAT.  For example if these sales from April to March total £80,000 you do not need to register for VAT but if the taxable sales from May to April, just one month later, total £85,000 or more you must register for VAT. Taxable sales are goods or services you sell which have a tax rate of 0% or 20%.  If you sell goods or services which are exempt or outside the scope of VAT then you do not need to register for VAT.…
In my blog last week I wrote about the varied reasons why clients leave. This week I thought I would consider why they choose to stay with us and on reflection I think it is probably for similar reasons to those that I have for staying with the individuals and companies who support our business:…
I have been a bookkeeper for quite a few years now and it is always sad when you have to say goodbye to a client.  As a bookkeeper I am trusted with confidential financial information and often become the first port of call for running through new ideas or sharing business issues.  Every business owner goes through ups and downs with their business…
If you are earning income from a business activity you must register with HMRC as self-employed (also known as being a sole trader) and submit a self-assessment tax return annually by 31st January each year. A business activity includes:…
Business owners can’t do it all as much as they would like to.  There just isn’t enough time once your business is growing. Eventually you will feel swamped with paper and to do lists.  Everyone has different skills and at the top of your task list will be the things you like to do and the things which are income generating and at the bottom are the things which you will get round to when you need to.  Eventually there comes a time when those things at the bottom of the list have to be done and you either work more hours, you outsource or you employ someone.…
Until now employers have had advance warning of when they will have to set up a pension scheme but from October 2017 new employers will not.  …
Having recently carried out "formal" reviews with each of my team I know, for me, it is very valuable. Employee reviews are new to me.  I never had a review in all the years I was an employee so when it was suggested I carry out regular reviews with each of my employees I had no idea where to start.  So I have based my employee reviews on what I think I would have liked had I had one!…
195 articles 
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Unit 21 Portway Business Centre
Old Sarum, Salisbury
Salisbury
Wiltshire
SP4 6QX

e: info@sandrasilk.co.uk
t: 01722 341820