Your end of year accounts checklist
The tax year runs from April 6th to April 5th each year, which means that the end of the 2022/23 tax year is just days away and for most businesses this also marks the end of the accounting year too. If this is the case for you and your small business, you don’t have much…
What does the Spring Budget mean for small businesses? 2023
Chancellor Jeremey Hunt has delivered his Spring Budget for 2023. From energy bill support to tax changes, here are the key announcements from the March budget that small businesses and small business owners need to know. Energy bill support Although the Spring Budget fell short of mentioning energy bill support specifically for businesses, the chancellor…
70 per cent of small businesses don’t have an accountant – here’s why you should
Each year 82 per cent of small businesses fail due to poor cash flow management, but this need not be the case. Outsourcing your accounts to an expert accountant with access to the latest accounting software makes it easier than ever to manage, view, and analyse the financial wealth of your business. One of the…
Accounting terms every business owner should know
Whether you’re a long-term business owner or a brand-new start-up, it is always a good idea to freshen up on your accounting basics. Even if you hire a professional accountant to help and assist with money matters, there is still a lot of value in understanding accounting terms and knowing a thing or two yourself….
A guide to bookkeeping
Bookkeeping is the process of recording and tracking financial transactions in a business. It is essential business admin, but it can be tough to know what tasks you need to do and how often you need to do them. Our guide to bookkeeping explains basic bookkeeping tasks that every small business owner or independent contractor…
Accountancy myths busted
The accounting profession is surrounded by myths, and although a growing number of businesses are using accounting services each year, some sole traders remain on the fence. At React Accountancy, we strive to change the narrative by providing a no-jargon accounting service with open and honest communication, so that you know you’re in reliable hands….
How can an accountant benefit your small business?
Running a small business and managing everything that comes with it can be tough. Hiring an accountant to manage your business accounts not only takes some pressure away but also ensures your small business benefits from expert accountancy. A great accountant can work with small and start-up businesses across all industries and provide clear financial…
3 ways to reduce corporation tax
If you are a director or owner of a company operating in the UK, you are liable to pay corporation tax. Corporation tax must be paid based on the company’s profits and on any gains from selling assets such as land, property, or shares. You will not receive a bill for corporation tax and your…
How to avoid becoming a victim of business financial fraud
In recent years, there has been a stark rise in businesses of all shapes and sizes fallen victim to business fraud, as fraudsters now have access to sophisticated technology that make it easier than ever before to target their victims. Scammers use a variety of tools and techniques. If you are worried about business fraud…
What can businesses expect from Rishi Sunak?
History has been made in the UK, after Rishi Sunak, who has become the youngest prime minster for more than 200 years, has been elected to fix the many mistakes made my Truss. Rishi Sunak, who is the UK’s third Prime Minister in seven weeks has been elected as the new Tory leader after winning…
What does the Mini Budget mean for you?
There’s no escaping the mini budget! Dominating new headlines, everyone has waited anxiously to find out how it will affect them, as the cost of living crisis continues to push households and businesses to the limit financially. And on Friday September 23, the Chancellor of the Exchequer, Kwasi Kwarteng passed a ‘mini-budget’ whilst stating that:…
3 Ways to save money on your business utility bills
The cost of living crisis is hitting everyone hard, taking no prisoners. And, as gas and electric bills are set to soar to 80%, many businesses operating across a diverse range of sectors are bracing themselves for a challenging winter ahead. After all, gas and electricity bills are among the biggest expenses businesses face and…
