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Did you pay too much tax last year? 

You met the Self-Assessment deadline of 31st January with ease and also paid your tax liability. However, you feel that perhaps you have paid too much tax?      Does this sound familiar?  If so, you are not alone. Here are a few of our tips for consideration during the current tax year to help mitigate the impact of your tax liability:   Keep accurate records throughout the year, supported with management accounts, so you can easily&nbs...

November 16, 2018

Luca Awards 2018 Finalists Revealed

Fantastic news - Cashtrak has been shortlisted for FIVE of the Institute of Certified Bookkeepers LUCA awards! This is an incredible achievement and we are so proud to be on the shortlist. The LUCA Awards are the ‘Oscars’ of the bookkeeping profession and are presented by the Institute of Certified Bookkeepers in recognition of the year’s outstanding bookkeepers and the many organisations that complement the valuable work that they do. The winners of the 2018 Luca Awards will be annou...

November 9, 2018

Poor cash flow: Are you simply spending too much?

As soon as you become a business owner, you immediately become very popular. This is because everyone makes two assumptions about you. The first is that you have lots of money. The second is that you are prepared to spend that money on making your business a success.   Clearly you do need to spend some money on your business. There are stories of entrepreneurs' who have made their millions by spending absolutely nothing, but it's probably safe to assume this is not going...

October 16, 2018

We have a new team member!

We are delighted to announce that Stacey Woodford has joined the Cashtrak team as our Office Manager. Stacey comes from a background in electronic engineering and facilities management, and has a wealth of troubleshooting and project management experience. We were looking for a member of staff who could keep our team organised, manage workflow, and support Carol as the Cashtrak business grows, and Stacey is very well qualified to take on this role. Welcome to the team Stacey!...

September 28, 2018

Are tips taxable?

Confusion often arises regarding tips and gratuities as the tax and NIC treatment depends on how they are paid to the recipient.  Cash tips handed to an employee, or left on the table at a restaurant and retained by that employee, are not subject to tax and NICs under PAYE, but the employee will need to declare the income to HMRC – HMRC often make an adjustment to the employee’s PAYE tax code number to reflect the amount likely to be received during a tax year so any liability is collec...

September 14, 2018

Self-employed: What expenses can I put through my tax return?

When you start your business, or when it comes to completing your tax return, you may be wondering what expenses you can offset against your sales. Some expenses are obvious, such as the materials you’ve purchased to make your products but others not so.  What general day to day expenses can I claim for?    If you work from home, you may not be aware that you can claim for use of home expenses on your tax return. These mainly cover the light, heating and electric costs...

August 31, 2018

Carol Webb Appointed Treasurer of Bucks Bizz

Carol Webb of Cashtrak is to become Treasurer of Bucks Bizz, a new business networking group based in High Wycombe, Buckinghamshire. Bucks Bizz was formed by a group of professionals in search of a warm, welcoming business networking environment that offers a personal touch and encourages business growth and personal development. Having tried out a few networking groups in the area, members of the new group decided to start their own, so they could run it for the benefit of local professi...

August 20, 2018

A New Range of Services from Cashtrak

The best small businesses work tirelessly to improve the range of products and services they offer, providing added value at every step. Here at Cashtrak we’ve been dreaming up ways to support you and your organisation, so that you’re free to run your business in the most efficient way imaginable. In cooperation with our extensive network of business partners, we’re developing off-the-shelf packages and recommendations to help with company set-up. As a first step, we have recently launched...

August 15, 2018

Cashtrak is hiring!

CASHTRAK IS HIRING! Our thriving bookkeeping company serving London and the Southeast is seeking an Office Manager who will manage the day to day administration and workflow of the Cashtrak team, including:  Handling incoming mailCo-ordinating diaries and scheduling workAnswering telephone enquiriesOn-boarding clients and issuing contractsScanning and overseeing data recognition processesOrganising the MD and wider teamManaging the company's databases, ultimately acting as Data Officer...

August 5, 2018

Congratulations to Aaron

Congratulations to Aaron for gaining a Distinction in his Level IV Diploma in Advanced Bookkeeping and Accounting, FRS105 module.It is Aaron that takes care of our accounts submissions, working on year ends that fall under the FRS105 rules....

July 27, 2018

Kingsmead Testing and the work Cashtrak carried out to update their processes

In another Cashtrak Case Study, we look at Kingsmead Testing, and the work we have been carrying out recently to update their processes.Kingsmead Testing has been trading since 2004, initially working only in the High Wycombe area, but now servicing customers across England. The company specialises in providing a high quality testing service to medium-sized companies, and has worked in recent years for a wide variety of clients, including several airlines at Heathrow Airport, construction firms,...

July 19, 2018

Design Matters, and the work Cashtrak carried out to update their processes

In a new series of case studies, we look at our client, Design Matters, and the work Cashtrak carried out to update their processes.Design Matters is an independent kitchen studio, based in the High Wycombe area. Established since 1992, the company has interests in a range of kitchen design areas, including standard retail kitchens, kitchens for private developers and kitchens for older and disabled people. Despite the relatively small size of the company they fit kitchens across the UK, and hav...

July 4, 2018

AAT Conference 2018

Carol is looking forward to attending the AAT Conference on 7 and 8 June.The AAT Annual Conference is packed with keynote speeches, presentations and workshops which, over two days, are designed to give finance professionals the knowledge, skills and inspiration they need to meet the evolving needs of the industry....

June 5, 2018

Cashtrak client has government visit!

Congratulations to our client Right at Home for the opening of their 50th UK office in Twyford, attended by the Prime Minister, Theresa May. The Prime Minister spoke of her admiration for the work of community care teams as she attended the official opening of a new business in her constituency. Mrs May chatted to several Right at Home CareGivers, along with business owner Kevin Lancaster and manager Bailey Harrison, at the opening of Right at Home’s 50th UK office in Twyford, and the second i...

March 29, 2018

Carol is included in the ICB Top 100 Women profiles

In 1918 the Representation of the People Act gave (some) women the vote in GB and Northern Ireland. Throughout this centenary year The Institute of Certified Bookkeepers (ICB) will be honouring 100 inspiring and influential women bookkeepers.  We are extremely proud that Carol has been recognised in the top 100 and her profile can be viewed here.Congratulations Carol on this fantastic achievement....

March 23, 2018

Pensions Update – It’s all change with Auto-Enrolment

It's all change with Auto-Enrolment .  In October 2017 auto-enrolment hit its five-year milestone and we head towards the first increase in contributions. What's involved and what might be the additional cost? Background Auto-enrolment began in the autumn of 2012 and in the last five years millions of workers have begun saving for a pension for the first time. On 1 October 2017, providing access to a pension for workers became part of setting up a new business. It was also due to be the poi...

February 26, 2018

Did you pay too much tax last year?

You met the Self -Assessment deadline of 31st January with ease and also paid your tax liability. However, you feel that perhaps you have paid too much tax?    Does this sound familiar? If so, you are not alone. Here are a few of our tips for consideration during the current tax year to help mitigate the impact of your tax liability:  Keep accurate records throughout the year, supported with management accounts, so you can easily identify your likely liability at the earliest...

February 10, 2018

Simplified Expenses for the Self-Employed

Keeping paperwork isn’t everyone’s strong point – and that’s ok. HMRC have realised this, and in an unusual attempt to help you claim some of the more complex expenses, they have created simplified expenses. So, what exactly is a simplified expense? A simplified expense is a flat rate that HMRC will allow you to offset against your self-employment income. The goal is to save you the trouble of working out your actual business costs when preparing your self-assessment tax return. They do...

January 30, 2018

A new staff member at Cashtrak

We are looking forward to welcoming Electra Webb to the Cashtrak team.  Electra will be joining us from February 2018....

January 30, 2018

What is the difference between a bookkeeper and an accountant?

We’re often asked what the difference is between a bookkeeper and an accountant? Here’s a primer… Bookkeeping: Let’s take a look at the dictionary definition: Bookkeeping is “the skill or occupation of maintaining accurate records of business transactions”. The main responsibility of a bookkeeper is to accurately record financial data, ensuring that entries in and out of the company’s accounts are correct on a daily basis. They record and calculate income and expenses, and u...

January 26, 2018

Useful information on Value Added Tax (VAT)

VAT  (or Value Added Tax to give its full name) was introduced in the UK in 1973 and is the third largest source of government revenue  after income tax and National Insurance.  VAT is levied on the sale of goods and services by UK businesses. The standard rate of VAT is currently 20% and this rate has been in place since 4 January 2011.   This rate covers most goods and services. The other rates are: Reduced rate of 5%, which covers some goods and services, such as domestic ...

January 18, 2018

What is the Construction Industry Scheme (CIS)?

Construction Industry Scheme (often shortened to CIS) is a scheme put in place by HMRC in 2007 where contractors deduct a percentage of money from a subcontractor’s payments which is then passed on to HMRC. The scheme only requires contractors to register, however subcontractors are advised to register as unregistered subcontractors have a higher rate deducted from their payments. Why should a subcontractor register with the scheme? Subcontractors are advised to r...

December 8, 2017

Budget Summary - November 2017

We have put together a summary from the November 2017 budget.  Please do click on this link to download the full summary....

November 30, 2017

Are you ready for GDPR?

Since the Data Protection Act (DPA) was launched in 1998, the world has changed. According to the latest figures from Ofcom, the average adult now spends double the time we spent surfing the web ten years ago. Which is not surprising - we shop, bank, work and even date online; and whilst that’s great for convenience it throws up some huge issues around data security. So, how do we keep our businesses and their customers safe when there’s so much personal information floating around in cyber...

November 23, 2017

Important Information about Changes to Paying HMRC

We wanted to share the information we have received this week regarding the changes HMRC are making to the ways customers can make payments. The pay at the Post Office service will be withdrawn from 15 December 2017 and from 13 January 2018, HMRC will no longer accept payment by personal credit card. Debit cards and corporate credit cards will continue to be accepted.  There are still many ways to pay including: Direct DebitOnline or telephone banking (including Faster Payments, Bacs and...

November 3, 2017 Posts 1-25 of 38 | Page next
 

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