Longleys Accounts Insights

Since the United Kingdom’s departure from the European Union, businesses across the UK have had to adapt to a new regulatory landscape. One area that has seen significant changes is payroll administration. What was once a relatively straightforward process dealing with EU-wide regulations has now become more complex, particularly when it comes to hiring and managing employees who are EU nationals.

Payroll is more than a routine administrative task; it’s the backbone of compliance and good business management. For small business owners, accountants, and payroll managers, maintaining watertight payroll records is not just a best practice but a legal necessity.

For small business owners, payroll often feels like one of the more daunting aspects of running a company. Terms like PAYE (Pay As You Earn), National Insurance contributions, and HMRC reporting come with complex systems and critical deadlines that can feel overwhelming.

Navigating the highs and lows of seasonal income is a well-known challenge in the hospitality industry. For restaurant owners and hotel managers, balancing cash flow during busy tourist seasons and quieter off-peak months can mean the difference between thriving and struggling.

Managing your business’s finances can feel overwhelming, particularly if numbers aren’t your strong suit. However, a solid bookkeeping foundation is essential for small business success—whether you run a bakery, design agency, or tech start-up.

Running a small business or startup comes with its fair share of challenges, and among the most pressing are business risks. These risks can manifest in various forms—financial instability, compliance issues, operational inefficiencies, or even external threats such as economic downturns. Left unchecked, these risks can significantly disrupt your operations, impact profitability, and hinder growth.

Spreadsheets have been a steadfast companion for managing finances over the years. Whether you’re tracking expenses, calculating payrolls, or forecasting revenues, they’ve long served as the go-to tool for small business owners and startup founders. But as businesses grow, so do their needs. The question is no longer why you should move beyond spreadsheets—but when.

Ensuring compliance and clarity around holiday pay and pensions is a critical responsibility for HR professionals, payroll administrators, and business owners, particularly during the year-end period.

Hiring the right accountant is crucial for the success and financial health of your small business. The right professional not only ensures your books are in order but also offers valuable insights, such as managing taxes, reducing costs, and planning your financial future. But how do you know if an accountant is the right fit for your business?

Managing the finances of your small business can feel overwhelming, but creating a realistic budget is one of the most effective ways to maintain control and guide your business towards sustainability and growth. A well-thought-out budget ensures you allocate your resources appropriately, avoid unnecessary spending, and prepare for future challenges.

The end of the tax year can be a stressful period for small business owners. It’s a time for tying up loose ends, ensuring compliance, and preparing for the year ahead. Proper planning and organisation during this period are critical not only for meeting your tax obligations but also for setting your business on the path to future success.

Managing finances can be one of the most challenging aspects of running a small business. Traditional accounting methods, while effective, often require significant time, resources, and manual organisation. Enter cloud-based accounting solutions—modern tools designed to streamline and simplify your financial management.

Learn the ins and outs of VAT registration for UK small businesses. Discover thresholds, VAT rates, schemes, and practical tips to simplify compliance.

Learn how small businesses and freelancers can file self-assessment tax returns. Avoid mistakes, explore tools, and stay compliant with HMRC regulations.

Staying on top of your finances is essential. But juggling spreadsheets, receipts, and complex calculations can be a daunting task. That is where Xero software comes in, revolutionising the way businesses manage their accounting. With its user-friendly interface and powerful features, Xero simplifies financial management, making it effortless and efficient.

Maintaining accurate and up-to-date financial records is vital for making informed decisions and ensuring the long-term success of your company.

When it comes to running a successful business, having a skilled accountant by your side is like having a secret weapon. An accountant plays a critical role in helping businesses navigate financial challenges, make informed decisions, and unlock growth opportunities. From managing cash flow and analysing financial statements to ensuring compliance with tax regulations, their expertise can make all the difference.

Choosing the right business structure is a critical decision, one that can significantly impact your company’s success and growth. When it comes to establishing a business, two common options are a limited company (Ltd) and a sole trader. Each has its advantages and disadvantages, and understanding these differences is essential in making an informed decision.

We understand that the recent increase in employer National Insurance (NI) contributions is a concern for many of you, particularly when many of you are already balancing tight margins and rising costs. Rest assured, though: with the right strategies in place, there’s a clear path forward, and the team at RWB and Longleys are here to support you at every step of the way.

With the largest tax rise in recent times, we’re here to support you to find the best way forward for your business.

In today’s rapidly evolving financial landscape, embracing the power of cloud accounting is no longer optional — it’s essential for the success and growth of any business. With the ability to securely store and access financial data online, cloud accounting offers a range of benefits that traditional accounting methods simply can’t match. From real-time collaboration and enhanced data security to streamlined processes and cost-efficiency, cloud accounting is revolutionizing the way finance professionals manage their tasks.