Archive for tag: small business accounting tips

Expert Online Accountants Urge Businesses to Brush Up on Auto-Enrolment – Before They Face a Penalty

pension chart from online accountants

The expert team at online accountancy service Magic Accounts are encouraging all businesses to brush up on their understanding of auto-enrolment, and to implement any necessary changes, before they are hit with serious penalties that could affect their bottom line dramatically. The new legislation, which has made it compulsory for every employer to automatically enrol […]

Online Accountancy Service Urges Freelancers To Verify Their IR35 Compliance

3d tax pie chart

Magic Accounts, a leading online accountancy service for freelancers and contractors, has urged all those who operate through a Limited Company to ensure they remain on the right side of the law with regards to tax, as it emerges that HMRC are increasing the number of IR35 compliance checks they carry out. Bloosmbury Professional revealed […]

SMEs with One Employee Should Outsource Their Accounting and Bookkeeping


According to SAGE, 500,000 new businesses are started in the UK every year, and three out of every four have just one employee. 99.9% of all enterprises in Britain are small businesses, which begs the question: who is taking care of the accounts within these businesses? A huge number of these businesses have just one […]

Online Accounting Service Puts A Stop To Small Business Worries

Hands working on the calculator

Online accountancy service Magic Accounts is helping to put an end to the financial worries that plague many small business owners attempting to go it alone. Statistics show that 50% of small businesses worry about making a mistake when calculating tax payments, and 20% of these businesses experience some difficult in figuring out how much […]

Small Business Owners: Burning the Candle at Both Ends?

Businessman multitasking

Hiring a part-time accountancy service to take responsibility for the books and accounts of a small business can significantly help to reduce stress and free up time for owners to concentrate on running their organisation. Research has found that 25% of small business owners feel overwhelmed with the running of their own business at times, […]

Online, Cloud-Based Accounting: Remain In The Loop

Desktop computer screen, tax form or invoice

Could cloud-based accounting increase a small business’ financial awareness of their own circumstances? A report from YouGov suggests that SME business owners feel out of the loop when it comes to their business finances, to the extent that the majority do not know what their tax liabilities mean for their business. The statistics reveal that […]

The Benefits of a Fixed-Fee Accountancy Service

spare change - pounds

Fixed-fee accountancy services are a one-stop shop for businesses who need a comprehensive and unlimited service. Where traditional accountants might charge erratically and inconsistently depending on how much time they spent on a certain client’s account within a certain period, fixed-fee accountancy firms charge a set amount for all businesses; a policy which has a […]

Do SMEs Need Accountants?

Businessman with hand writing pictures

It is commonplace in this day and age for small businesses to think that they can conduct all of their business and keep track of their books without the help of an accountant. Financial constraints and tight budgets in a time of economic volatility also mean that they believe it will be better for their […]