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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...

Overview of Spring Budget 2024:Implications For Small Businesses

The Spring Budget 2024 has unveiled a range of measures supporting and stimulating growth amidst the evolving economic landscape. Here's a breakdown of the key highlights and implications for small business owners:TaxVAT threshold – The taxable turnover threshold has been increased from £85,000 to £90,000.National Insurance – Employees - This has been reduced from 10% to 8, saving 2p in the pound.National Insurance – Self-Employed – National Insurance Class 4 has been reduced from 9% t...

International Women's Day: Cashtrak - Empowering Women, Empowering Success:

Cashtrak are thrilled to join the global celebration of International Women's Day. It’s a time for reflection, celebration, and a call to action. At our bookkeeping practice, we are proud to acknowledge the significant contributions of women not only within our company but also across the globe. With over 80% of our team being comprised of talented and dedicated women, we understand the importance of fostering an environment where they can thrive professionally and personally.International Wom...

Companies House New Reforms - What It Means For You & Your Business

New measures have been brought in by The Economic Crime and Corporate Transparency Act meaning Companies House will play a much greater role in disrupting economic crime and preventing abuse of the register. The first changes come in to effect on 4th March,2024.The measures set out in the act give Companies House new and enhanced powers to improve the quality and reliability of their data.Registered Office AddressCompanies must have an ‘appropriate address’ as their registered office at all ...

Global Bookkeeping Week 2023 - Celebrating Bookkeepers Worldwide

Today marks the start of Global Bookkeeping Week. It's the perfect time to celebrate and appreciate the unsung heroes of the business world - bookkeepers. Here at Cashtrak we're thrilled to join the celebration and inform everyone about the significance of this week.What is Global Bookkeeping Week?Global Bookkeeping Week is a worldwide initiative dedicated to recognising the vital role bookkeepers play in keeping businesses financially healthy. This week-long event, celebrated annually in the fi...

Payroll Keeps the Entire Operation Running Smoothly - Why You Should Outsource Payroll

As an employer, payroll is a critical responsibility that involves several legal and practical considerations.Outsourcing your payroll to a professional can offer numerous benefits to businesses of all sizes. Here are some compelling reasons why a business should consider outsourcing their payroll: 1. Expertise and Compliance: Payroll professionals are well-versed in the complexities of UK tax laws, National Insurance contributions, and employment regulations. They stay up-to-date with chan...

Focusing On Cashtrak's Payroll Professionals

In the intricate machinery of a successful business, there is a group of dedicated professionals who work tirelessly behind the scenes to ensure that the gears keep turning smoothly – our payroll team!Precision, accuracy, legal compliance, data security and confidentiality are part of their every day work, this leads to:Financial Stability for EmployeesEmployee Morale and SatisfactionEfficiency and Time SavingsSupporting Business GrowthMeet The Cashtrak Team:Carol, our longest serving payroll ...

The Unsung Heroes of the Workforce: Celebrating National Payroll Week

In the intricate tapestry of the modern business world, there exists behind-the-scenes heroes whose contributions often go unnoticed, yet they play an indispensable role in the functioning of the entire economy. We are talking about the dedicated and diligent payroll professionals who make sure that each worker gets their hard-earned pay accurately and on time. As we celebrate National Payroll Week, let's reflect on the profound impact that payroll has on both the workforce and the economy.Payro...

Maximising Your Influence: The Role of a Bookkeeper in Navigating Influencer Taxes

Back to influencers - the life of an influencer is a whirlwind of creativity, content creation, and connection-building. Amid the hustle and bustle, there's a critical aspect that should not be ignored: taxes. As an influencer, you're not just a content creator; you're also a business owner, and that means navigating the complexities of taxation. This is where a skilled bookkeeper can be your guiding light. In this blog, we'll explore how influencers can effectively collaborate with a bookkeeper...

Alcohol Duty Reform from a VAT Perspective: A New Era Starting on August 1st, 2023

Today, the alcohol duty reform takes effect, bringing significant changes to the taxation and pricing of alcoholic beverages. This reform not only impacts the alcohol industry and consumers but also holds implications for Value Added Tax (VAT). We explore the alcohol duty reform from a VAT point of view and discuss its potential impact on businesses and consumers alike.Understanding Alcohol Duty and VAT: Before delving into the reform's details, it's essential to understand the concepts of ...

Why A Bookkeeper Is More Cost Effective Than Using Microsoft Excel For Your Financial Records

There are several compelling reasons why you should consider transitioning from using Microsoft Excel to using bookkeeper. Here are some key points to consider:1. Accuracy and Reliability: While Excel can be a useful tool for basic financial record keeping, it is prone to human error and can become cumbersome as your business grows. A bookkeeper, on the other hand, is a trained professional with expertise in maintaining accurate financial records. They have the knowledge and experience to ensure...

Bookkeeping - Adopting A Holistic Financial Perspective

Our recent blog looked how using a bookkeeper and an accountant can create a powerful financial team that saves your business time and money whilst ensuring compliance and accurate records. We wrote about a ‘holistic financial perspective’ but what does that mean?A holistic financial perspective refers to an encompassing and comprehensive view of a business's financial situation, performance, and future prospects. It involves looking beyond isolated financial metrics and considering the inte...

Why Using A Bookkeeper When You Already Have an Accountant Is Powerful For Your Business

Running a business involves a multitude of financial responsibilities, from record keeping and compliance to tax planning and strategic decision-making. While many businesses recognise the importance of having an accountant on board, they often overlook the benefits of hiring a bookkeeper. Having both a bookkeeper and an accountant can be a winning combination that maximises financial efficiency and success. In this blog, we will explore the advantages of hiring a bookkeeper, even when you alrea...

Forecasting & Cashflow Forecasting Software Fluidly To Close

Fluidly have announced that they will stop providing access to their cashflow software from 5pm (GMT) on Friday 28th April. They advised this was part of an integration with parent company OakNorth.Fluidly was launched in 2017, we became a silver partner with them in 2019. The software was an intuitive cashflow forecasting powered by AI stating it was for modern businesses that want to know exactly what their financial future holds and how to optimise it. Fluidly would take transaction data from...

Celebrating International Women's Day 2023

Today we join the celebrations for International Women’s Day with a look at the accomplishments of our MD, Carol Webb.Carol worked for a number of businesses but after working as Finance Manager for an international software company, Carol saw how rigid the bookkeeping industry was and saw a gap in the market for a flexible service to meet the needs of clients and took the brave decision to launch her own bookkeeping practice in 2006. Carol decided to join the Institute of Certified Bookkeeper...

Employers - Know Your Legal Workplace Pension Duties

We have taken on several clients in the last few months who were not aware of their workplace pension duties. These are governed by The Pension Regulator and failure to undertake the legal duties result in fines. So for all employers, here’s what your responsibility is....

Tax Return Deadline Day! Income Tax Self-Assessment Filing And Payment Due Today - How You Can Make Next Year's Easier

It’s the 31st of January, tax return deadline day. HMRC announced last week that 3.4 million people were still needing to file their tax return and their extremely busy helpline will close at 6pm today we look forward to how your 2022/ 2023 tax return can be easy and stress free.Stress Free Tax Returns6th April (1st day of the new tax year) we contact you with tax questions and requesting your income and expensesOnce we have your answers we process your tax returnWe send the draft tax return t...

Income Tax Return Self Assessment - How HMRCs App Can Help You

Since HMRC launched their app, more than 50,000 self-assessment customers have paid their tax using the app since its release 11 months ago. The free app can be downloaded at the App Store or Google Play and is has a number of features to use and see:What You Can See·         Find your Unique Tax Reference and National Insurance number (us bookkeepers need these to sign up as your agent with HMRC)·         Your tax...