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What is managerial accountancy and what’s the benefit to my business?

A form of accountancy that is often overlooked is that of managerial or management accountancy

Do I need to register my small business for VAT?

Setting up your own business is naturally exciting but this can also pose a few questions in areas you may not have much experience in. One of the main subjects small business owners can need help with is accountancy and tax questions. By far, one of the most popular questions asked is whether you need[…] Read more »

Key accountancy considerations for sole traders

When you set up as a sole trader you will become responsible for your own books, accounts and taxes. For many, this is an unwanted burden distracting from the core goals of your business, but it is vital that you get it right. If you fail to manage your accounts correctly then you can incur[…] Read more »

Do I really need a book-keeper?

Whether you are a sole trader running a small business or a large, corporate organisation, you will need to keep stock of all of your financial transactions. Whether it’s day to day expenses or money coming into your business, it is important to record each and every transaction. You may be wondering why you need[…] Read more »

5 benefits of hiring an accountant for your small business

If you have recently started a business, you may not think you really need an accountant, after all, you might not be making a lot of money. Interestingly, getting an accountant involved from the offset can often be hugely beneficial in achieving overall business success – and these are some reasons why. 1. Free up[…] Read more »

Cloud accounting v engaging accountancy services

From the outset, it needs to be clear that these two options are not actually separate choices anymore. It is common to hear business people – particularly owner-managers of SMEs – asking if having far more advanced digital accounting tools means that you can dispense with the services of an accountant. 

How much could a tax dispute cost your business?

Tax investigations into businesses are on the up. In fact, last year alone, some of the biggest companies in the UK set aside just over £2.7 billion just so that they could cover the cost of going through lengthy tax disputes. Back in 2015, there was a huge 62% rise amongst the FTSE 100 companies[…] Read more »

The importance of business plans for new start-ups or additional business finance

Business plans are not just essential for new business start-ups. They are also important if you have an existing business and you are looking for additional finance; from a bank or an angel investor, or from the point of view of keeping your business on track.

Three signs your business needs an accountant

Lots of small businesses do their own accounting because they are under the impression it will save them money. Sometimes this is true, however, on occasion, an issue will arise that is far too complex for an untrained accountant to manage on their own. When this happens, trying to fix the problem without the help[…] Read more »

Top 4 accounting tips for your small business

Whilst some small businesses need the assistance of an accountant, many business owners aim to keep track of their own financial records. This can often be easier said than done as some may be unaware of how to do so effectively; having had little or no experience with being self-employed. An accountant can be hired[…] Read more »

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Highwoods & Associates
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