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BUSINESS GUIDES, INSIGHTS, ADVICE & NEWS
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Tax Treatment of Insurance: A Guide for Businesses and Individuals
At Black & White Accounting, we know that insurance is a crucial part of financial planning for both businesses and individuals. But what about the tax implications? Understanding the tax treatment of insurance can help you maximise deductions, remain compliant, and avoid unexpected liabilities. In this blog, we break down everything you need to know…
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Mythbusters: I Can Just Use My Personal Bank Account for My Business – Why This Could Cost You
Welcome back to our myth-busting blog series, where we tackle the common financial misconceptions that could be holding your business back. At Black & White Accounting, we know that the smallest financial decisions can have the biggest impact on your success. Today, we’re addressing a mistake that many new business owners make: using a personal…
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How Can I Improve Cash Flow in My Business?
At Black & White Accounting, we know that cash flow is the lifeblood of any business. Whether you’re a startup, a growing SME, or an established company, managing cash effectively is crucial for stability and growth. But what can you do if your cash flow isn’t quite where you want it to be? We’ve got…
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How to Create a Brilliant Business Plan
A business plan is more than just a document—it’s the roadmap to success for any entrepreneur or business owner. Whether you’re launching a startup, expanding an existing company, or seeking investment, a well-crafted business plan is crucial. At Black & White Accounting, we know that creating a compelling business plan can feel overwhelming, but don’t…
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Mythbusters: Hiring an Accountant is Only for Big Businesses – The SME Mistake
Welcome back to our myth-busting blog series, where we uncover the truth behind common financial misconceptions that could be holding your business back. At Black & White Accounting, we know that no business—big or small—should underestimate the power of expert financial guidance. One of the biggest myths we hear? “Hiring an accountant is only for…
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Tax Avoidance, Evasion, and Efficiency: Understanding the Differences
At Black & White Accounting, we believe in paying no more tax than necessary—but always within the boundaries of the law. Tax is a complex subject, and the distinctions between tax avoidance, tax evasion, and tax efficiency can sometimes feel blurred. Understanding these differences is crucial, as stepping over the legal line can have serious…
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Making Tax Digital: Revolutionising Business Accounting in the UK
The future of tax is here, and it’s digital! Making Tax Digital (MTD) is not just a government initiative—it’s a game-changer for businesses across the UK. At Black & White Accounting, we’re thrilled to help you embrace this exciting transformation and unlock its full potential. What Is Making Tax Digital? Making Tax Digital (MTD) is…
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Mythbusters: Bonuses and Benefits Aren’t Taxed Like Salaries – The PAYE Reality
Welcome back to our Mythbusters blog series, where we debunk financial myths that could land business owners in trouble. At Black & White Accounting, we help businesses stay compliant, tax-efficient, and financially secure—and today, we’re tackling a common payroll misconception: “Bonuses and benefits aren’t taxed like salaries.” Many employers and employees assume that bonuses and…
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How to Stay GDPR Compliant with Your Financial Records?
At Black & White Accounting, we understand that managing financial records is an essential part of running a business. But with GDPR (General Data Protection Regulation) in full force, ensuring compliance with data protection laws is just as critical as keeping your accounts in order. Failing to comply with GDPR can result in hefty fines,…
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VAT for UK Businesses: A Beginner’s Guide
If you’re a business owner in the UK, understanding Value Added Tax (VAT) is crucial. Whether you’re a sole trader, a small business, or a growing company, VAT can seem overwhelming at first—but don’t worry, we’re here to break it down for you! At Black & White Accounting, we help businesses like yours navigate VAT…
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Mythbusters: Your Company’s Money is Your Money – The Common Director’s Mistake
Welcome to our Mythbusters blog series, where we will expose the biggest financial myths that could land business in trouble. At Black & White Accounting, we believe that understanding financial rules is the key to long-term success, and today we’re tackling one of the biggest misconceptions among business owners and directors: “My company’s money is…
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Service Spotlight: Self-Assessment Tax Returns
At Black & White Accounting, we understand that tax season can bring stress, confusion, and last-minute panics for many individuals and businesses. But it doesn’t have to be that way. With the right tools and expertise, completing your Self-Assessment tax return can be straightforward, efficient, and even empowering. That’s where we come in. As a…