by Deepti Agarwal | May 29, 2026 | Bookkeeping, Budget Summary, Business Tips
From 6 April 2026, Making Tax Digital for Income Tax (MTD for Income Tax) is mandatory for sole traders and landlords with annual income over £50,000. Under MTD for Income Tax, taxpayers are required to keep digital records and submit quarterly updates to HMRC using...
by Deepti Agarwal | May 27, 2026 | Bookkeeping, Budget Summary, Business Tips
Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the...
by Deepti Agarwal | May 25, 2026 | Bookkeeping, Budget Summary, Business Tips
With operational costs escalating and the market still sensitive to price rises, you’ll have seen the term ‘margin compression’ being thrown around in many small business forecasts. But what exactly is margin compression? And how does this financial phenomenon impact...
by Deepti Agarwal | May 22, 2026 | Bookkeeping, Budget Summary, Business Tips
“Q: Why do I need an evolving strategy for my small business?” You’re a business owner or CEO. And that means it’s your responsibility to take care of the business, invest in the right places and make the company a success story. However, to do this, you need an...
by Deepti Agarwal | May 20, 2026 | Bookkeeping, Budget Summary, Business Tips
It seems as though everyone is using artificial intelligence (AI) these days – and for good reason. When used correctly, AI can be a powerful tool, capable of delivering huge efficiency savings to businesses and individuals alike. But, like any tool, AI needs to be...
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