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Broadly speaking, accounting is the quantification and communication of both financial and non-financial information concerning economic organisations, such as corporations.   More specifically and in terms of business, accounting is primarily the process of tracking and recording finances in order to keep track of money coming in to, and going out of a company. This

In a post-covid world, where working remotely and ditching the physical office has become something of the norm, many are asking whether using a virtual office for their registered business is the next step. In our view, using a virtual office is the final piece in the remote working jigsaw. Why? Well, it removes the

Making Tax Digital might seem like just a buzzword, but with the shift to mandatory digital accounting coming in April 2022 for all VAT-registered businesses, the doors are closing in fast. Now is the time to ensure you’re fully equipped with the right software. Why the rush? If your business fails to comply within the

2022 is set to be a year of financial changes, particularly where tax and national insurance is involved. As always, we want you to be as prepared as possible and have instant access to digestible information. Below, you’ll find a list of all upcoming changes planned this year, with insight into how it may impact

Managing a business means you probably have 101 things on your to-do list every day, and organising your business finances usually takes a back seat until there is a need to. Running a business is hard and staying organised can be difficult, but organising your business finances can actually take the pressure off, making other

Thinking of hiring an Accountant? Want to understand how to navigate the hiring process? You’re in the right place. It’s no longer satisfactory to conduct a google search for your nearest accountant and make the call. It’s vital you dig deeper into whether they are the right match for your business. Not only does your

Staying on top of your tax is not the reason you got into business. We get it, it’s not fun. But unfortunately, it is a vital aspect of running and ensuring you’re on the right side of the law. Whilst getting to grip with business tax won’t bring you immediate joy – it may leave

When the word tax is mentioned, everyone who’s not an accountant cringes a little inside, but the matter of fact is, your tax liability is something you can’t escape from and sooner or later, you need to face it head on and figure our a way to manage it. Yes, tax liability can be difficult

Shenward’s experts tuned in to listen to the budget announcement on October 27th – though a lot of what was announced had previously been shared with the media ahead of the Chancellor’s budget. Thing is, with so much information offloaded via various channels, it’s easy to get caught up in a slurry of information overload.

Your accountant is one of the most important people within your business. That’s why it’s important to determine not only what you expect from your accountant prior to appointing them, but also know how you can get the most out of them once they’re part of your team. But how exactly can you do this?

By Talha Aslam, Payroll Manager at Shenward. In a recent parliament meeting, it was announced that there will be changes to national insurance in the UK – more specifically, it is set to increase. Being the biggest story of the week, the announcement is everywhere – but with so much information circulating, how can you

With the lifting of legal restrictions in the UK, it’s great to see businesses being able to reopen their doors after a difficult 18 months of closures. Whilst it’s brilliant to see businesses with their open signs hanging, this doesn’t mean that the difficulties of the pandemic are over, and many businesses are still struggling

Listen, we know everyone makes mistakes. We’re only human. Starting a business in itself is all about trial and error; finding out what works for you and your business and what doesn’t. But, when it comes to your finances, unfortunately, there is less margin for error. You don’t need us to tell you that your

Starting a new business can leave your mind reeling – with a never-ending to-do list, it is no wonder 72% of small business owners feel overwhelmed with their responsibilities. Whilst you may be excited to get your product or service out into the world, you must remember your business is more than what you’re selling,