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Potential Employer National Insurance Rise: What It Could Mean For Small Businesses and Employees

As the political landscape in the UK continues to shift, businesses are keeping a close eye on proposed changes that may impact their operations. One significant potential change is the increase in Employer National Insurance contributions (NICs), which could be introduced by the Labour government in the upcoming budget.For small businesses, this could have notable financial implications, affecting both their bottom line and the workforce. In this blog, we’ll explore what this potential Nation...

The Government’s Consultation on Electronic Invoicing: What It Means for Your Business

The government recently announced a consultation on the implementation of electronic invoicing (e-invoicing), a significant development for businesses across the country. With the goal of increasing efficiency, reducing fraud, and aligning with international standards, this consultation could lead to widespread changes in the way businesses issue and process invoices. But what does this mean for your business, and how can you prepare for this shift?In this blog post, we'll explore what e-invoici...

An Employer's Responsibilities to the Pension Regulator

The Pension Regulator (TPR) is a government agency responsible for overseeing workplace pension schemes. Their primary goal is to protect the interests of pension scheme members and ensure that pension schemes are run efficiently and effectively....

A Medical Professional’s Tax Nightmare: The Importance of Accurate Tax Codes

National Payroll Week serves as a reminder of the critical role that accurate payroll processing plays in the smooth operation of businesses. One common issue that can arise in payroll is the use of incorrect tax codes. A recent case involving an NHS medical professional who worked bank overtime for the same hospital highlights the importance of understanding your tax code to avoid significant tax liabilities.The medical professional in question was unaware that both her primary employer and the...

National Payroll Week: A Celebration of Essential Business Services

National Payroll Week is celebrated annually and is a time to recognise the vital role that payroll professionals play in the smooth operation of businesses. It's an opportunity to acknowledge the complexities involved in payroll processing and to highlight the importance of accurate and timely payroll services....

End-of-Summer Financial Check-In: A Guide for Businesses and Individuals

As summer draws to a close, it's the perfect time to take a step back and assess your financial situation. Whether you're a business owner or an individual, a thorough financial check-in can help you identify areas for improvement and make informed decisions moving forward....

Making Tax Digital: Where Are We Now? A Guide for Self-Employed Individuals

Making Tax Digital (MTD) is a government initiative aimed at simplifying the tax system for businesses and individuals. For self-employed individuals, MTD requires the use of digital tools to keep records and submit tax returns to HMRC....

A Cautionary Tale: Bradley Wiggins’ Bankruptcy and the Importance of Trusted Financial Management

Bradley Wiggins, a name synonymous with cycling glory, recently found himself in the headlines for a very different reason—bankruptcy. This unexpected turn of events has left many wondering how a celebrated athlete with numerous accolades could face such a financial crisis. Wiggins himself admitted that he "should have paid more attention" to his financial affairs. His experience serves as a stark reminder of the vital importance of vigilant financial management and why every individual and bu...

Sprint to Success with Cashtrak Olympic-Level Payroll Services

As the world watches athletes strive for Olympic glory, it's time for your business to aim for the podium with Cashtrak elite payroll services. Just as athletes rely on precision, speed, and strategic planning, your payroll process should reflect the same level of excellence....

Go for Gold with Cashtrak: Olympic-Level Bookkeeping for Your Business

As the Olympic Games inspire us with feats of strength, agility, and precision, Cashtrak is here to bring that same excellence to your bookkeeping needs. Just as athletes rely on their coaches and rigorous training, your business can rely on our expert team to streamline your financial processes and ensure your success....

Employers Responsibilities: Streamlining Your Pension Regulator Duties

In the ever-evolving world of business, staying compliant with regulatory requirements is crucial. Among the myriad of obligations, workplace pension, auto-enrolment, re-enrolment and the declaration of compliance stand out as pivotal processes that ensure your business remains in good standing. However, these tasks can be time-consuming and complex. This is where our expert service comes into play, designed to simplify and streamline your compliance needs.We have taken on a number of businesses...

Unlocking Business Potential: The New Growth Guarantee Scheme For Small Business Financing

In the ever-evolving landscape of business finance, staying informed about new support initiatives is crucial for both growth and sustainability. One such initiative is the recently introduced Growth Guarantee Scheme, a successor to the Recovery Loan Scheme....

Revolutionising Bookkeeping: Xero’s "Just Ask Xero (JAX)"

In the ever-evolving landscape of accounting and bookkeeping, staying ahead of technological advancements is essential for maintaining efficiency and providing top-tier service.At Xerocon 2024, Xero introduced an innovative new feature: "Just Ask Xero (JAX)." This advanced AI tool is designed to transform the way bookkeepers and clients interact with the Xero platform, offering a host of benefits that streamline processes and enhance productivity. Here’s how JAX is set to revolutionise the boo...

Unlocking Convenience: What Is Xero's New "Tap to Pay" and How You Benefit

In the fast-paced world of business, staying ahead of technological advancements is crucial for maintaining efficiency and competitiveness. Xero, a leader in accounting software, has introduced a groundbreaking new feature: "Tap to Pay." This innovation is set to revolutionise how businesses handle payments, offering significant benefits for both clients and bookkeepers.Here’s how Xero’s "Tap to Pay" can transform your financial processes....

Unlocking Efficiency: The New E-Invoicing Feature Available On Xero

Following on from At Xerocon 2024, one of the most anticipated announcements was the introduction of Xero's new e-invoicing feature, powered by PEPPOL (Pan-European Public Procurement On-Line). This development is set to revolutionise how businesses handle invoicing, providing numerous benefits in terms of speed, accuracy, and efficiency. Here's an in-depth look at what this new feature entails and how it can benefit your business....

Why Your Business Should Choose an Institute of Certified Bookkeeper's Bookkeeper

In the competitive business landscape, maintaining accurate financial records is essential for compliance, strategic planning, and overall success. When selecting a bookkeeper, it’s crucial to choose one who brings not only expertise but also a commitment to high professional standards. This is why opting for a bookkeeper who is a member of the Institute of Certified Bookkeepers (ICB) can make a significant difference for your business. Here’s why:...

Unlocking the Future: Exciting New Tools & Insights from Xerocon 2024

Our team had the privilege of attending Xerocon 2024 in London, it was an experience brimming with insights, innovations, and inspiring sessions. Xerocon is renowned as a leading conference for bookkeepers and accountants, and this year’s event certainly lived up to its reputation. Here’s a roundup of what we learned and the exciting new developments we’re eager to implement for our clients....

Navigating Election Uncertainty: How Cashtrak Can Steer Your Business

The announcement of an election in the UK often brings a wave of uncertainty for businesses. Policy shifts, economic fluctuations, and changes in tax can create a challenging environment. During these times, Cashtrak can be an invaluable asset, helping your business navigate through the unpredictability and emerge stronger. Here’s how:...

The Risks of Using an Unqualified Bookkeeper and Accountants for Your Business

When it comes to managing your business's finances, you want to ensure everything is handled with the utmost accuracy and professionalism however, cost is a big factor. With the current economic crunch, businesses have been cutting costs by outsourcing overseas (more on why outsourcing overseas may turn out to cost you more in the long run here here) or using an unqualified bookkeeper or accountant (in some cases both bookkeeper and accountant) who are often cheaper than qualified bookkeepers an...

How Cashtrak’s Bookkeepers Attending Exhibitions and Conferences Benefits Our Clients

Attending exhibitions, conferences and summits have several benefits to bookkeepers that can directly enhance the service they provide to their clients. Here’s how participation in this event can be advantageous:...

Why Businesses Should Choose Local Bookkeepers Over Overseas Alternatives

In the era of globalisation, businesses have more options than ever when it comes to outsourcing various services, including bookkeeping. While it might be tempting to hire an overseas bookkeeper due to lower costs, there are compelling reasons why an business should consider using a local bookkeeper. We explore the benefits of opting for a local bookkeeper and why cheaper doesn't always equate to better service....

Why Should I Pay A Bookkeeper When I Can Do The Work For Free

A common question we hear is “why should I pay for a bookkeeper when I can do the bookkeeping myself, for free?” This is especially true of start-ups. There are many reasons from compliance to actually saving yourself money. Using a bookkeeper can offer several significant advantages:...

Why Businesses Should Use a Payroll Company to Ensure Compliance

Running a small business comes with a multitude of responsibilities, from managing day-to-day operations to navigating regulatory requirements. One area that demands careful attention is payroll management. Ensuring compliance with ever-changing tax laws, calculating employee wages accurately, and managing payroll taxes can be complex and time-consuming. That's where a payroll company can be a game-changer for businesses. Let's explore why leveraging the expertise of a payroll company is crucial...

Gear Up for the New Tax Year with Cashtrak: Your Trusted Financial Partner

As the dawn of a new financial year approaches, businesses are presented with a golden opportunity to reassess their financial strategies, streamline processes, and set the stage for success in the months ahead. Let's delve into why the start of the new financial year is the perfect time to make this smart move and how Cashtrak can be your trusted partner in this journey.Fresh Beginnings, Clear VisionThe onset of a new financial year symbolises fresh beginnings and renewed clarity. It's the idea...

HMRC Pause Unpopular Decision To Close Of Self-Assessment Helpline & Reduce PAYE & VAT Helplines

What a whirlwind 24 hours for HMRC! We take a look at the original announcement and the decision to pause and re think just 24 hours later.What HMRC Said FirstHMRC announced yesterday (19th March, 2024) that it would close its self-assessment phone line between April and September EVERY YEAR following a successful trial last year. They said they were encouraging callers to use their online services instead.The helpline would re-open between October and March each year for priority queries with q...