Autumn Statement 2023: Everything accountants needs to know
On November 22nd, chancellor Jeremy Hunt delivered the autumn statement 2023 to the House of Common. The announcement focused on reducing debt, cutting tax, and backing British businesses. During his presentation, the chancellor introduced a several changes in attempt to grow the economy and reduce debt. Today, we look at these changes and explain what…
Why hiring an accountant is an investment in your business?
Hiring an accountant can play an important role in the supporting of your business. They offer a range of accounting services, from tax planning to finance management. Choosing to outsource to an accountant is a great investment in your business and can be invaluable to keep ahead of competitors and identify opportunities for growth. If…
3 Benefits of hiring a small business accountant
Keep reading to discover three benefits of hiring a small business accountant. Hiring an accountant is critical for your small business as they provide expert advice, recommendations, and support to improve your financial position. Not only that, but hiring an accountant also provides you with reassurance that your legal, financial, and tax responsibilities are being…
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 to sell a limited company
People decide to sell their limited company for a whole host of different reasons. If you’re thinking about selling your limited company, it’s important that you understand the processes involved in. After all, your ultimate goal is to get the best possible price for your business, with the least amount of hassle, right? First and…
Do I have to file a self-assessment tax return?
Do I have to file a self-assessment tax return? | 3 minute read Whether you are self-employed as a sole trader and earned more than £1000 or you are a partner in a business, you must file a tax return to HMRC. A self-assessment form is a different type of tax, which is designed to…
Reasons you should hire a small business accountant in 2022
Thinking of hiring a small business accountant in 2022? Read on. Running a small business can be incredibly challenging, especially when it comes to getting your business of the ground, maximising exposure, gaining funding to grow and ensuring that you do not overspend during those early days. And, from the moment you set up your…
Choosing the right accountant for your small business
Choosing the right accountant for your small business An accountant plays a vital role in the running of any small business, helping to prepare accounts and tax returns, managing payroll, and ensuring that the business stays up to date with tax deadlines. So, if you’re thinking about hiring an accountant for your small business or…
Our guide to completing a VAT return
As soon as you reach the VAT threshold, which is currently £85,000, you will be expected to pay VAT on all taxable sales. However, you may also be entitled to claim back VAT that has been charged on business purchases. As part of this process, you will also need to submit a VAT return to…
Why should your small business be using Xero?
Xero is a cloud accounting software tool used by over two million people worldwide. Designed to meet the accounting needs of small and growing businesses, Xero has revolutionised cloud accounting, making it easier and simpler for small businesses to manage their finances. But why is it so popular? And why should your small business be…
