Picture this: your profit and loss statement shows £40,000 profit, but your bank account is nearly empty. How is this possible? The answer lies in understanding cash vs accrual accounting methods. As a chartered certified accountant with over 10 years of experience helping UK small businesses, I’ll explain how these two accounting approaches can paint completely different pictures of your business performance – and why choosing the right method could transform how you understand your profits and make crucial business decisions.
Day: 24 May 2025
Post-Brexit VAT Rules: UK Businesses Providing Services to EU Companies
Are you a UK business providing consultancy, IT services, or other B2B services to European clients? Understanding the VAT implications post-Brexit is crucial for compliance and maintaining competitive pricing. The Fundamentals: Place of Supply Rules The cornerstone of international…