Aligned Accounting

Aligned Accounting Accountant for owner managed businesses. Based on the IOW with clients Nationwide

Are you employed? 🙃Do you ever check your personal tax account and estimated earnings? 🧐Do you have a personal tax accou...
06/11/2024

Are you employed? 🙃
Do you ever check your personal tax account and estimated earnings? 🧐
Do you have a personal tax account? 😳

One of the worst parts of my job is when clients come to me for help as they have been sent a notice to complete a self assessment and it turns out that they have underpaid tax, and then get a bill.

I cannot stress how important it is to keep your personal tax account up to date, make sure your tax code is correct and that your estimated earnings is correct, don't leave it up to the payroll department of the employer - it's your responsibility. Pay rises, new jobs, and other income changes throughout the year can have an impact and can often lead to underpaid taxes if your estimate is off.

📗 Double-check your expected earnings as the tax year progresses to avoid surprises.
📗 Keep HMRC updated with any significant changes in income.

If you need any help, reach out!

05/12/2023

For all of you that are battling with your self assessment tax return, please don't stress, worry or feel pained by this task, call for some professional help! Working with me is an affordable investment for your sanity as well as your business and it's an allowable business expense!

Whatever you do, don't leave it until the last minute!

Drop me a message to see how I can best help you 💚

Lets be honest, nobody has time to meticulously evaluate their financial position, it’s not why you started your busines...
07/09/2023

Lets be honest, nobody has time to meticulously evaluate their financial position, it’s not why you started your business & you're busy doing what you love, your craft!
But, knowing your numbers is essential & it is your key to success!

The past few years have been a bit bonkers. and if you’re wishing the economy would just give you a break for a while, know that there are things you can do to have the best chance of staying in control.

I help small business owners to get clear on what’s happening in side their business finances. I get it, I'm a small business owner myself!

This isn’t just about compliance, this is about being prepared and actually flipping it into identifying opportunities. You see, your business might have opportunities right now to:

💥Optimise your income streams
💰Reduce your costs
🤩Focus more on something that is better for your business

But without the insight, you simply can’t know, and that's where I come in!
Every financial decision you make today shapes the stability of tomorrow.






When did you last review your suppliers’ payment terms? When you have a strong relationship with your suppliers, it’s ea...
03/09/2023

When did you last review your suppliers’ payment terms?

When you have a strong relationship with your suppliers, it’s easier to negotiate your payment terms - and that’s great for your cash flow.

This is something I can support you with.

I know that relationships are the cornerstone of business success, which is why when you work with me, you’re not just hiring a bookkeeper & accountant, you’re partnering with another small business owner who gets it and cares about your financial future as much as you do. 💚


Let's set the record straight: Hiring a bookkeeper is not just for big businesses! In reality, small business owners can...
30/08/2023

Let's set the record straight: Hiring a bookkeeper is not just for big businesses! In reality, small business owners can reap significant benefits from professional bookkeeping services!

I love bringing my clients peace of mind and financial clarity. No more overwhelm!

Book in for a call (Free) and lets see how best I can help you! 💚 (link in bio).

A financial reserve helps to give you confidence when things feel a little uncertain in business, and as a Bookkeeping &...
29/08/2023

A financial reserve helps to give you confidence when things feel a little uncertain in business, and as a Bookkeeping & Accounting firm, I can give you the insights you need to understand what that looks like for you.

The simple way to do this is for us to set you up a report in your accounting software, but there are even more detailed ways for us to stay on top of this analysis and we’d love to speak to you about what gives you confidence as a business owner so we can help you better.

Book a no obligation discovery call with me today - link in my bio.💚

Did you know that filing your tax return early offers several benefits for you?Early filing provides clarity on your tax...
23/08/2023

Did you know that filing your tax return early offers several benefits for you?

Early filing provides clarity on your tax liability, helps you avoid penalties, and allows for better financial planning.

Take advantage of these benefits and get ahead of the game.

If you'd like to dive deeper into this topic, check out our article from earlier this month. Link in Bio.

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Who doesn't love free stuff?! But did you know that receiving gifted items or earning commission on products can have ta...
19/08/2023

Who doesn't love free stuff?! But did you know that receiving gifted items or earning commission on products can have tax implications? 🤔

While the free stuff sent to you, and the partnerships that come with it are awesome, it's essential to stay informed about the potential tax responsibilities that come with them. Here's the lowdown:

🎁 Gifted Items: When you're sent/given products for free, HMRC might consider their value as taxable income. Keeping track of these items and their estimated value is a smart move.

💼 Commission Income: Earning a commission on products you promote? Superb! But remember, those earnings are still considered income. So, be prepared to report and potentially pay taxes on those earnings on your self assessment.

Top Tips for Staying Tax Savvy:

💥Keep Records: Maintain a spreadsheet or use apps to track gifted items and commissions.
💥 Estimate Fair Value: For gifted items, research the approximate market value. This helps you accurately report the value to HMRC.
💥Consult a Pro: Tax codes can be tricky. Consider consulting a tax professional who's well-versed in influencer taxes. They'll guide you through the nitty-gritty.
💥 Set Aside Funds: Remember, taxes aren't a surprise party you want to be unprepared for. Set aside a portion of your earnings for taxes, so you're not caught off guard.
💥Get some help from a qualified finance professional!

Being an influencer is amazing, and navigating the tax landscape is all part of the game. 💪 Stay informed, stay organized, and enjoy it! 🤩💚

💡

As a business owner, do you ever wonder when you need to register for VAT, or if you should be registering?😰Generally sp...
17/08/2023

As a business owner, do you ever wonder when you need to register for VAT, or if you should be registering?😰

Generally speaking, a business (Limited, Partnership or Sole Trader) MUST register for VAT (Value Added Tax) if their taxable turnover exceeds the VAT registration threshold, which is currently £85,000 in the UK (correct as of August 2023).

However, businesses can also register for VAT voluntarily, even if their turnover is below the threshold.

There are different rules and requirements for VAT registration based on the specific circumstances of each business and it can be costly if you get it wrong so getting the advice of a qualified professional is essential.

If you need more information or have questions about VAT registration, I can help! Drop me a message or contact me through the link in my bio 💚

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St. Thomas House
Newport
PO301SL

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Monday 10am - 4pm
Tuesday 10am - 4pm
Wednesday 10am - 4pm
Thursday 10am - 3pm
Friday 10am - 3pm
Saturday 10am - 12pm

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