Jennie Holyoake

Have you tried QuickBooks to run your business - 🤔 Have you learnt to master your books 📚 yet ? let me show you how easy it really is 🤓 #invoices #accountingsoftware #bills #superpayments #payroll #projects #budgets

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BUSY BUSY morning today on a webinar with some Interior Designers in partnership with Polly Williams at Camberyard 👍👍 Explaining how getting the basics in place in respect of their accounting and bookkeeping is KEY to success in their business ! 🌸 Simplify the admin and compliance with HMRC - which is NOT in any creative … 🌸 Know all the basics in your business so you have some understanding of what’s happening 🌸 Remove the Fear of HMRC - nothing to fear but do your compliance quickly and then get back to your clients !! 🌸 Get your Xero or Quickbooks in place PROPERLY 🌸 Keep your Bookkeeping up to date - llittle and often is enough but BEWARE of leaving it to 200/300 transactions after ignoring it for weeks 🌸 Ensure you know enough to take decisions on your business, make a profit and improve on your pitches & quotes That’s it for every business (and not just Interior Designers) get the basics right and you have the foundation for your business in place …..🎉🎉🎉 NEXT Webinar at the end of October (Tips on Pricing, Pitching and Profits I think ) 🤔

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Are you managing your bookkeeping on a daily or weekly basis. Use Hubdoc or Receipts Bank to link your purchases to the accounting software. HMRC plan to require Businesses to file quarterly profit returns which will require bookkeeping to be up to date . Keeping up to date books will enable one to monitor the increased wage costs against turnover, and potential increases in supplier's costs. Curious about how you can get ahead of these requirements? Watch this video for a quick guide to staying compliant and boosting your financial visibility. Need help with your bookkeeping or business finance, Contact us: 07768 390330 #Bookkeeping #FinancialManagement #BusinessFinance #BusinessGrowth #Accountingsupport

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What does £100k net profit look like for a Limited co business owner? Glad you asked. I’ll show ya 👇 Net profit before directors pay £100,000 Take off directors salary (£12,500) Employers NI (£470) Taxable Profit £87,030 Corporation tax payable (£19,312) 𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿/𝗦𝗵𝗮𝗿𝗲𝗵𝗼𝗹𝗱𝗲𝗿 𝗱𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀 £𝟲𝟳,𝟳𝟭𝟴 Total income for director (£12,500 + £67,718) £80,218 Personal income tax (£13,318) Net cash in directors pocket £66,900 …monthly net cash £5,575 Points to note: ➡ This assumes the director personally withdraws every ounce of profit made that year. ➡ It would be wise for the company to have a cash buffer - therefore reducing directors pay. ➡ Dividends can also be drawn from ‘untouched’ profit brought forward from previous years ➡ If the director had a student loan to repay - take home pay would be even less. ➡ Personal tax payment ignores any payments on account paid or payable . Let me know if you’d like to see how this looks at other net profit levels ? ----------- 😎 If you enjoy this content checkout my Newsletter 📌 Link in the comments 🤔 Select 'most recent' and scroll down, if you don't see the link

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Why is good bookkeeping so vital for financial management? I’ve got some top tips for maximising your bookkeeping activities, and the options available for outsourcing this job to those who know how (that's us by the way, in case I hadn't shouted about it enough!).

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AccountingWEB.co.uk asks if entertaining clients is a thing of the past. I still meet with networking connections and clients whenever I can. But is this true? Are we meeting fewer people face to face, and does it affect your business? https://lnkd.in/egUg6hxV #testimonial #accountancy #bookkeeping #accounting

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#SolePractitioner Bookkeepers & Accountants! The next edition of my The Bookkeeper Superhero Newsletter is published next week, and you don’t want to miss it! This newsletter is designed for you, UK sole practitioners who juggle the demands of running a business while delivering outstanding client service. 💡 Here’s what’s inside: ✅ Practical advice to help you work smarter, not harder ✅ Insights on outsourcing, tech, and efficiency hacks ✅ Updates from the bookkeeping and accounting world ✅ Community highlights and much more! Whether you’re looking for inspiration, guidance, or simply reassurance that you’re not alone in this journey, this newsletter has you covered. Sign up link in the comments! Join hundreds of like-minded professionals who are already transforming the way they work. #SolePractitioners #Bookkeepers #Accountants #Newsletter #EfficiencyTips #Community

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I bloody love it!! Moving into my 2nd week at Kaplan UK & it has reminded me how much I LOVE Bookkeeping & Accountancy! I have been refreshing my skills & taking Mock Exams this week & I cheered when I got my TB’s to balance!!! If you work in finance you will know what I mean 😂 You may think I am sad but I bloody love it & can’t wait to get stuck into tutoring in July! How’s your week going? #AccountancyTutor #LovingLife

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Dear #HMRC Is everything ok? Are you all alright? We have noticed things are starting to get on top of you with notices being sent to clients that just don't make any sense. Notices for clients without their name showing (it's like a new format of guess who!) despite us having agent authority with you. Top this with calls to the relevant department asking for an explanation on the issued notice and your team don't even know what the demand is for either 🤦‍♀️ We want to work with you but when our requests are met with a brick wall, where/what can we do? It's good to talk, matters get resolved quicker.... With affection Accountants around the country #communication #talkinghelps #accountantstruggles

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Making Tax Digital Guide: What do you need to know about MTD? Making Tax Digital (MTD) is a system introduced in April 2019 designed to make it easier for businesses to get their tax right first time. In turn it is intended to reduce the costs, risk of errors and the worry that businesses face when HMRC has to intervene to put things right. Read our comprehensive guide to MTD, including the latest updates on timelines for MTD for income tax (ITSA) and answering your FAQs.👇 #MTD #taxdigital #guide

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📅 Self-Assessment Tax Deadline Alert! 📅 Let’s start 2025 stress-free – reach out today! Morecambe 👉 01524 566190 Leyland 👉 01772 984 985 Wigan 👉 01942 233737 A friendly reminder to all our clients: the self-assessment tax return deadline is 31st January! Make sure you’re on track to avoid any late fees. If you need assistance or have questions about your return, our team at Verve Accountancy is here to help. Get in touch with us soon to ensure everything is in place well ahead of the deadline! - - #SelfAssessment #TaxReturn #Accounting #VerveAccountancy #BusinessAdvice

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"Your R&D claim isn't valid, despite what your advisor told you. The only thing you can do is tell HMRC you made a mistake and pay back the money they sent you." Whilst I seem to tell business owners this a lot at the moment, I spoke to one today which is even more concerning. In this case the company owner signed up with a consultancy firm for a variety of services, R&D got mentioned but they never went any further with making a claim. So, it was a bit of a shock when a few weeks ago they received a letter from HMRC saying they are opening a compliance check into the R&D claim they submitted last year. After their accountant spoke to HMRC it appears that the consultancy firm went ahead with an R&D claim, without the company owner knowing and nearly £50k was paid to the consultants bank account last November. When the company owner asked the consultancy firm what is going on, and more importantly where is the money?, they got fobbed off with some nonsense about it being "normal HMRC procedure" which they will deal with and if the compliance check is successful, then the company will receive the funds. I've seen a copy of the response to HMRC and it's nonsense, no qualifying R&D has taken place and even if it did the competent professional listed doesn't have any qualifications or experience in the correct field. Unfortunately for the company owner if HMRC agree that the claim isn't valid they will have to pay back the funds they didn't receive and as the consultancy firm is only 12 months old, it will likely be liquidated before legal action can be taken. Since 1st April this year HMRC stopped R&D payments being made to agents, but I wonder how many R&D claims were made before then which the claiming company didn't even know about? As if HMRC hadn't opened a compliance check into their claim, the company owner would have been none the wiser that a claim was even made.

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Are you trying to manage too much by doing too little? This sounds a bit strange, but if you have - accountancy software but also manage your creditors 🔅in your head 🔅on a spreadsheet and don't 🔅input bills into the software as soon as they come in (adding a due date), work is being duplicated. If you switch things around and 🔅add everything to the software regardless of it being paid/received 🔅Integrate your booking/till systems 🔅work on the future rather than a backlog you can use the software to; 🔅pull off a regular creditor payment list. 🔅manage the cashflow using a software linked to your accounts. 🔅have a clear picture of who owes you and manage credit control efficiently. Some other bonuses; 🌟Accountancy softwares have a huge range of reports to support goal setting, KPIs, decision making and general day-to-day running. They take seconds to run. 🌟Your bookkeeper will have a greater understanding of what is happening (we can't give you up to date figures if we are working in backlog). Make our job easier, and we can provide you with extra value. If you are not sure where to begin, let's have a discovery call.

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I do freebies all the time. 𝗔𝗻𝗱 𝗜 𝘄𝗶𝗹𝗹 𝘄𝗼𝗿𝗸 𝗳𝗼𝗿 𝘆𝗼𝘂 𝗳𝗼𝗿 𝗙𝗥𝗘𝗘. 𝗝𝘂𝘀𝘁 𝘁𝗲𝗹𝗹 𝗺𝗲 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂 𝗻𝗲𝗲𝗱. Because many business owners tell me, "I think I've outgrown my accountant" or "I want a proactive accountant." And I hear plenty of stories about inadequate accountancy providers, and even well-meaning ones who just aren't equipped to support established and growing businesses. So telling them I am a good accountant isn't enough.  𝗜 𝗻𝗲𝗲𝗱 𝘁𝗼 𝘀𝗵𝗼𝘄 𝘁𝗵𝗲𝗺 𝘄𝗵𝗮𝘁 𝗮 𝗴𝗼𝗼𝗱 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 𝗹𝗼𝗼𝗸𝘀 𝗹𝗶𝗸𝗲. And every business we do a freebie for ends up loving us and most choose to work with us. It’s a no-brainer for both of us! 𝗛𝗲𝗿𝗲’𝘀 𝗮 𝗳𝗲𝘄 𝘁𝗵𝗶𝗻𝗴𝘀 𝘄𝗲’𝘃𝗲 𝗱𝗼𝗻𝗲 𝗮𝘀 𝗮 𝗳𝗿𝗲𝗲 𝘁𝗿𝗶𝗮𝗹 𝗳𝗼𝗿 𝗼𝘁𝗵𝗲𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀: ✔️Reviewed the accounts of a business they were looking to buy, provided our opinion, and gave financial projections. ✔️Added a summary tab into their quote tracker spreadsheet so it had a automatically had all the key numbers they needed to know.  ✔️Checked over their bookkeeping because they weren't confident their bookkeeper had everything in hand. ✔️Reviewed their business and suggested the key numbers they should be tracking to stay on track for success. ✔️Went through the monthly Xero reports with the two directors to help them fully understand what they were looking at, especially the balance sheet info. So drop me an email or DM and let me know what you’d like us to do for you, and we can get working on it right away.

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