Tag: accounting processes

VAT Return

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…

Your guide to a successful financial audit

In any business, it’s important that you stay on top of your finances and prioritise your financial audits, especially when it comes ensuring that your company is always in the strongest position financially.   At the same time, a financial audit will also give you a fair and true insight into your current financial position…