Tips & Articles

Online Accounting Service Puts A Stop To Small Business Worries

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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 […]

SMEs Want More Technological Engagement from their Accountants

Mobility, business and finance concept

A recent survey by SAGE, one of the industry leaders in all things accounting, has revealed that 39% of small business owners would like their accountants to utilise technology more effectively in order to stay in contact. The ‘Pulse Survey 2013’ was undertaken to explore the relationship between accountants and their clients, and almost 4 in […]

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

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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 […]

Top Five Tax Errors for Freelancers

Taxes Due Datebook Reminder

The Boox Report, a comprehensive analysis of the UK’s self-employed workforce, has revealed the top five tax errors committed by those who are in charge of their own business finances. 42% of those who work as freelance contractors manage all of their work finances themselves, and the survey found that of those who have taken […]

Business Tax for Part-Time Start-Ups

3d tax pie chart

When setting up a business for the first time, many people choose to stay in their full-time job as a safety net in this volatile economy. The increase in online businesses has also meant that people can run a business from their home as a part-time venture. But what are the tax implications of this? […]

Don’t Succumb to Poor Finance Management

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Magic Accounts, a leading online accountancy service, is aiming to decrease the number of businesses in the UK which succumb to poor finance management and fail within their first few years of operation. It is a widely stated fact that the most common reason for small business failure is poor finance management, with the most […]

The Benefits of a Fixed-Fee Accountancy Service

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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 […]

Top Bookkeeping Mistakes Made By SMEs

online accountant

Poor financial management is one of the leading causes of business failure within the first five years of their start-up. Many small businesses make bookkeeping errors and costly mistakes, or they simply neglect to give their books the attention that they need, meaning they lose track of their finances and eventually, lose control of their […]

Do SMEs Need Accountants?

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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 […]