*Please note that the below information applies to annual accounts for micro entities using financial reporting standard (FRS) 105. A limited company qualifies for FRS 105 where it doesn't exceed two or more of the following criteria in a financial year;
For many business owners when to upgrade from spreadsheets to accountancy software is not always something they consider when starting a business. Your focus is on growing the business and getting new clients. However, there are important legal and practical implications to consider.
As a private tutor when completing your annual self assessment tax return there are a number of business expenses to be aware of. It is important that you claim the correct expenses and complete accurate expense calculations to avoid any unexpected letters from HMRC!