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
Just before the recent election, Making Tax Digital was promptly shoved in a box and hidden under the rug with a note reading ‘To be opened April 2018’. Since then, it has tactically been ignored by every MP and not a single mention of it has yet been made in the Houses of Parliament. Instead,… 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
In our previous post about Making Tax Digital (MTD), we spoke about how we had achieved slight success and the MTD scheme had been put off until next April. This is still the case, however it’s a bit more transparent now that the reason it was put off was because of the snap election called… Read More
An accountant in the UK will earn, on average, £47,900. This might tell you many things, but the most important thing it should be screaming at you is “This is not an easy job”. Even for Contractors and Micro-Entities, filing your taxes and managing your accounts can be exhausting and time-consuming. Unfortunately, regardless of what… Read More
So you’ve made the wise decision to switch over to online accounting. Good choice, you won’t regret it. Now, however, you need to decide which online accountant will best suit your business. At Zooconomics, we pride ourselves in making finance less stressful for the business owner. We do this by providing you with an affordable… Read More