Registering for VAT has always been something of a confusing matter to many business owners; some businesses have to register for it, whereas other business aren’t forced to but will register for VAT regardless. Registering for VAT is actually quite simple, as are the rules involved; the difficult part is deciding whether you should register… Read More

We receive hundreds of questions and inquiries a day into our services, and one of the most common phrases we hear is “Really? I didn’t know that)”. There seems to be a large amount of misconceptions surrounding what accountants can do, what they are, and what is required from the client. It may come as… Read More

It’s easy enough to say that you should sign up for Zooconomics online accounting services (and believe me, you should), but we also like to explain why you should too, perhaps with some accounting tips… Let’s face it, accounting isn’t easy; if it was then an accountant’s job wouldn’t even exist. This is the same… Read More

Most people will start their own business by becoming a Sole Trader. Most small business are registered as Sole Traders with very few making the jump to being a Limited Company, simply because the tax benefits and accounting responsibilities are significantly easier (not necessarily better, but easier). However, those that make the jump to becoming… Read More

Small business accounts, like it says on the tin, are accounts for small businesses. Surprising isn’t it? Feel like you’ve had the world pulled out from under your feet yet? Sarcasm aside, there are actually differences between small business accounts and the type of tax returns you would have to file if you were a… Read More

Here’s the golden question that mankind has been asking themselves ever since man first stepped out of their cave and decided to set up a designer loincloth fashion retailer; ‘How much do I pay myself for running a business?’. That’s a great question and I’m glad you asked it, although what you’re actually asking here… Read More

Most of the economy within the UK is made up of small businesses (99.9% as of 2016!. This is an even bigger shock when you throw in the fact that 4 in 10 small businesses fail within their first 5 years. Scary, right? However, if you were to look up why these businesses fail within… Read More

You’re probably starting to get tired of hearing ‘Why accountants are such amazing assets for your business‘. I know it seems like we go on about this a lot, but that’s because they’re an extremely important part of your business. You may have heard or read about some self-accounting nightmares before, and about how a… Read More

On the Zooconomics blog, we’ve spent a lot of time giving you details about ‘Why Making Tax Digital is a bad idea’ or ‘What expenses are tax deductible’. This is all well and good, and we’re certainly hoping they’re useful to you, but we want to go back and cover the basics. The primary and… Read More

If I said to you ‘Sole Trader’, what’s the first industry you think of? Most people will think of construction or some kind of similar physical trade. It’s quite easy to forget that consultants, if they’re self-employed, providing key services are also considered as Sole Traders. That means they have the same responsibilities when it… Read More