Accounting
Effortless Sole Trader Accounting: Streamlined Strategies for Self-Employed Finances
Master your sole trader accounting with ease. This article takes you straight to the essentials – tax obligations, efficient expense tracking, and robust financial management. Equip yourself with the knowledge to handle your finances confidently and avoid common pitfalls. Key Takeaways Understanding Sole Trader Accounting Embarking on a journey as a small business owner and…
Read MoreWhat is bookkeeping?
Introduction to Bookkeeping Welcome to Mercian Accountants, where we understand the pivotal role of bookkeeping in successfully managing your small business. Bookkeeping is the process of systematically recording and organising all financial transactions of a business. This includes tracking all sales, purchases, receipts, and payments, ensuring every financial move your business makes is accounted for.…
Read MoreMercian Accountants become part of the Handpicked Accountants Network
Mercian Accountants have been invited to join the carefully selected collection of leading accountants in the Handpicked Accountants portfolio nationwide. Handpicked Accountants is part of Begbies Traynor Group and provides access to outstanding accounting services for every business need. Mercian was selected to join Handpicked as a practice that demonstrated commercial expertise, understanding of the…
Read MoreIs Your Accountant Retiring? What You Need to Do
Has your accountant let you know that they’re retiring? Not sure of your next steps? There are several factors influencing accountants to retire early – and it’s not just because they’ve reached a certain age. The impact of the Covid pandemic and changes in the profession has led many to reconsider their role, which means…
Read MoreBounce Back Loan Fraud: Hundreds of Directors Disqualified
Over the past year, the Insolvency Service has taken action against more than 450 directors for fraudulently taking advantage of the Bounce Back Loan scheme and other Covid support programmes. Despite these efforts, some argue that these measures may not address the issue fully. During the 2022/23 financial year, the Insolvency Service reported a total…
Read MoreTopping up National Insurance for missing years
We previously reminded our readers to review their National Insurance Contributions (NIC) record for any gaps and how it could affect their entitlement to the state retirement pension. The deadline for paying voluntary Class 3 NIC to fill any deficiencies in tax years back to 2006/07 was set for April 5, 2023. However, as many…
Read MoreAccountant Near Me in Shrewsbury, Shropshire
Are you a business owner or an individual needing professional accounting services in Shrewsbury, Shropshire? Look no further than Mercian Accountants! Our team of experienced and qualified accountants is here to provide you with the accounting services you need to grow your business and stay on top of your finances. We offer a wide range…
Read MoreDon’t Settle for Less: Upgrade Your Accountants to Improve Your Business
At Mercian Accountants, we understand the crucial role that a high-quality accounting firm can play in the success of a business. Your accountant is responsible for ensuring the accuracy of your financial records, identifying areas for improvement, and providing valuable insights that can help you make informed business decisions. However, not all accountants are created…
Read MoreNew Associated Companies Rules
HMRC recently released new guidance on the ‘associated companies’ test for determining applicable corporation tax rates and payment deadlines. This guidance is particularly relevant to businesses with multiple associated companies and larger businesses not expecting to pay the lower rate. The reintroduction of the small profits rate has also led to changes in the thresholds…
Read MoreBest Accounting Software 2023
As a leading accounting firm, we understand the importance of staying up-to-date with the latest technology in the industry. With the increasing popularity of cloud-based accounting software, choosing the right provider has become a crucial decision for businesses of all sizes. In this article, we will be discussing some of the top accounting software providers…
Read More