AW Accountant in Kent

What year end should I have?

Whether you have just started up a business or have been going a number of years there are a few factors which will influence what year end you choose:

• Date registered at Companies House: The default date chosen is the end of the month one year from incorporation, so if you incorporated on 4 February 2010, your year end would automatically be 28 February 2011.  You can however change this.
• If you did not start trading through the business until May, you may want to change the year end to April so it represents a full years trade read more

Why you should have an accountant and how to choose one

As new research from business software and services provider Sage shows that

accountants are now seen as the most trusted source of business advice

for UK firms, we consider why you should have an accountant and how to choose one.

A qualified accountant is an experienced professional read more

Debt collection – how to make it easier

It is a common tale from business that they have tried all courses of action to recover debts, the credit controller is pulling their hair out and going through the courts is a waste of time and money.   I have recently met up with an agency that is dispelling this myth.  Once you have obtained Judgement, and if your debt is over £600 they will collect it for you, and in 2008 they collected 96p in every £1 of enforceable debts.  The steps are as follows, and for the latter part of the article credit goes to guest blogger The Sheriffs Office:

1. Small claims can be made on line using HM Court Service website, moneyclaim.gov.uk.  There is useful guidance on the HMCS website.
2. There is an excellent flowchart on p11 of the HMCS Guide for debt recovery for Small Businesses
3. Once Judgement has been registered by the court the customer is obliged to pay you, however this is where so many businesses stall and where The Sheriffs Office can come in useful read more

Thinking of going Limited?

My finance presentation to Mumpreneurs, in association with Buss Murton solicitors, highlighted the interest there is in the possibility of going limited.  While many small businesses have started off as sole traders they have evolved and grown to the extent that they should be considering whether this is the best structure for them.  I have recently been approached by a prospective client turning over £500k+ read more

How should I set up sole trader or company?

So you are thinking about setting up your own company or wondering whether you are trading through the best sort of company.  There are basically three types of company you can trade through and they all have their pro’s and cons.

Sole trader

This is the simplest way to work for yourself and there has been much discussion in recent months about people reverting back to sole trader status, or setting up as a sole trader in preference due to increasing company tax rates of which more later.  read more