Stars Accounting Ltd

Self Assessment is a system HM Revenue and Customs ( HMRC ) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return.

You must send a tax return if, in the last tax year (6 April to 5 April), you were:

• self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
• a partner in a business partnership

You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:

• money from renting out a property
• tips and commission
• income from savings, investments and dividends
• foreign income

Here are seven essential qualities to look for in a good bookkeeper:

• Excellent communication skills. …
• Adept at accounting software and new technologies. …
• Organization and teamwork. …
• Experience in your particular industry. …
• Integrity. …
• Flexibility to adapt to different working styles. …
• Relationship building skills.

Five top tips for finding a bookkeeper

1. Think about whether you want a consultant or a firm? Bookkeepers often work independently, so they may have several clients at a time. …
2. Location, location, location – decide if it’s important. …
3. Make use of your social networks. …
4. Look for experience. …
5. Choose the right person.

Payroll companies provide their clients with a variety of services related to your business’s payroll needs. This includes processing employee hours, cutting checks, directly depositing funds, and ensuring that your employees are paid correctly and on time, every time.

The direct costs of processing payroll can be greatly reduced by working with a payroll provider. Big businesses can afford to maintain robust payroll departments. … If your business has fewer than 30 employees, there’s a very good chance that you can save money by outsourcing your payroll operations.

This is the system your employer or pension provider uses to take Income Tax and National Insurance contributions before they pay your wages or pen

Data, Power Query, Tables & Formatting

Advanced Excel users know how to gather, structure & present their data so that it looks impressive. Good understanding of Excel features like Power Query (Get & Transform Data), Tables, cell styles, formatting options is necessary to make awesome Excel workbooks.