How will this week’s budget affect small business owners?
This week’s budget was one of the most anticipated in recent memory and the first for our new PM Keir Starmer.
With every type of tax, a potential target for our latest Chancellor, Rachel Reeves, small business owners nervously waited for the chancellor’s speech.
If you are concerned about how any of the changes in this Budget could affect your business, please contact The Hollies Bookkeeping Services on 01743 790086, email info@holliesbookkeeping.co.uk or visit www.holliesbookkeeping.co.uk
UK has record number of self-employed aged 60 or above
Rest Less has released information showing that the number of self-employed people aged 60 or over in the UK has reached a record level.
Over the last decade, these numbers have increased by over a third reaching 991,432 self-employed people aged 60 or over in 2023.
HMRC to send Simple Assessment tax statements to pensioners
HMRC will send Simple Assessment tax statements to pensioners in the next few weeks.
The combination of frozen tax thresholds and a substantial increase to the state pension has led to many more pensioners being dragged into paying income tax for the first time.
We say a sad goodbye to our Head of Security - Misty.
We are all very sorry to have to bid a fond farewell to Misty, Julie’s beloved dog and our head of security.
Julie, our Director has penned this tribute to Misty, who was an integral part of The Hollies team for many years.
This lovely lady came into our lives halfway through her own! She made a massive impact not just on my heart, but also the whole office!
HMRC launches VAT Registration Estimator
If you are wondering how to become self-employed, here are six questions to ask before you take the freelancing plunge.
Becoming self-employed is a dream for many of us – even us here at The Hollies Bookkeeping in Shropshire! The benefits include working your own hours, fitting your job around your lifestyle and being your own boss. Generally, it’s a lot more flexible than working for someone else.
Here are six questions you should ask yourself before you quit the day job in favour of creating your dream role:
How to become self-employed
If you are wondering how to become self-employed, here are six questions to ask before you take the freelancing plunge.
Becoming self-employed is a dream for many of us – even us here at The Hollies Bookkeeping in Shropshire! The benefits include working your own hours, fitting your job around your lifestyle and being your own boss. Generally, it’s a lot more flexible than working for someone else.
Here are six questions you should ask yourself before you quit the day job in favour of creating your dream role:
Hiring a Bookkeeper can improve your health
It has actually been proven that hiring a bookkeeper can improve your health!
Yes, you heard us right! And we are going to tell you how and why! Getting help with your books might not be something you have given much thought to as ways to improve your health and lifestyle go.
But speaking to our clients, they often tell us that as business owners, the last thing they want to do at the end of a busy day is crunch the numbers.
Benefits of Updating Bookkeeping and Accounting Records
Every business should regularly update its bookkeeping and accounting records, so business leaders can make the right decision with the figures and future of the business.
Without updated books, any decision regarding product lines, pricing or customer capacity is really just a guess!
Here are three big benefits of updating bookkeeping and accounting records on a regular basis and some tips to get you started with your bookkeeping for your business.
How to become self-employed
The Hollies Bookkeeping Services in Shropshire has become a Xero Gold Partner.
What does this mean for us and our customers? Well, here at the Hollies, which is headquartered in Pontesbury, Shropshire, we have been using Xero accounting software for many years.
We use it because we find it’s easy for us and our clients to use and it connects us with our clients’ banks, accountants, and other business apps. This makes everything more seamless and more streamlined.
Why Is Bookkeeping Important?
HMRC is warning people to be wary of bogus tax refund offers in the wake of the self-assessment deadline.
Bookkeeping is the foundation upon which the rest of your accounting practices are built.
Everything from payroll to tax deductions needs a solid bookkeeping base to work from. Without it, you cannot hope to manage your finances.
Scam referrals rise warn HMRC
HMRC is warning people to be wary of bogus tax refund offers in the wake of the self-assessment deadline.
The January self-assessment deadline may now be a distant memory to many.
However the tax authority says that fraudsters often target self-assessment taxpayers in the months following their self-assessment submission.
More than 11.5 million self-employed people submitted a tax return by the January deadline (though over a million missed it).
Just a third of adults in the UK are confident with self-assessment
Standard Life has recently released findings of research which has found that just 35% of UK adults are not confident completing the self-assessment alone.
Standard Life is a brand that has been trusted to look after people's life savings and retirement needs for nearly 200 years.
The research they carried out concluded that just three in ten UK adults admit they do not feel confident they could complete the form correctly.
VAT Inspections with the Hollies Bookkeeping Services
When it comes to VAT, it’s all about having the paperwork to back it up and here at the Hollies Bookkeeping Services in Shropshire, we undergo regular VAT inspections.
It’s our job to make sure that you are submitting the right paperwork and paying the right amount of VAT. It also ensures that when HMRC comes calling to inspect what are doing everything is in order.
We completely understand that getting all this paperwork together is a massive pain and not something you have the time or even the desire for.
Why completing your Self-Assessment before Christmas is a priority
Every year, over a quarter of people due to file a Self-Assessment tax return complete it in the final 4 days before the 31st January deadline
And 5% of returns are filed in the final 24 hours.
However, leaving it to the last minute isn’t really wise as you never know what may come up to prevent you from completing it in time.
Ensuring we stay compliant for all at The Hollies Bookkeeping
Like all good bookkeepers we expect and are ready for investigations of our procedures and work, we stay compliant for all at The Hollies Bookkeeping.
Earlier this year, two self-assessment tax returns we had worked on were investigated by HMRC, one in February and one in May.
