Recording Benefits in Kind in Your Bookkeeping

Recording Benefits in Kind in Your Bookkeeping

Some employers provide perks, known as Benefits in Kind (BiKs), to employees and directors that aren’t part of their salary, such as:   Company cars used for private trips Non-business entertainment Assets bought by the company that are for private use Private health insurance Gifts which are given as a result of the employee’s performance…

Protecting Your Business from Fraud

Business fraud occurs when scammers, from either outside or inside the organisation, falsely represent themselves or lie for financial gain. It can have a massively destructive effect on your business’s finances, reputation and more. It’s easy to get lost in the day-to-day of cash flow management and the hundred other things demanding your time, but…

Are Expenses and Costs the Same Thing?

In business the terms “costs” and “expenses” are commonly used interchangeably and, whilst this is fine in everyday conversation, it’s good practice to define the difference when we’re talking about a business situation. The reason for this is that costs and expenses are recorded differently in a business’s accounts and, in some cases, have different…


Self-employment: What Tax Relief and Allowances Can I Claim?

Nobody wants to pay more tax than they need to, and there is no reason why you should pay more than your fair share. So, in this post, we’re going to look at the different allowances and tax reliefs that a self-employed person can claim. This isn’t tax avoidance, or any kind of shady practice….