Watson Knipe Blog

For many small business owners, bookkeeping is one of those jobs that can easily get pushed to the bottom of the list. When you are busy looking after customers, finding new business and managing your day-to-day workload, updating spreadsheets and sorting receipts is unlikely to be a priority.

We often get asked this question, so we wrote an article explaining how long you need to keep paperwork for tax purposes. Running a business comes with plenty of paperwork. Even with more accounting records now stored digitally, it is important to know what you need to keep and, importantly, how long to keep it.

At Watson Knipe, we pride ourselves on our dedicated team, and one such valued member is Hollie Pritchett. Hollie is an AAT-qualified accountant who joined our firm through an apprenticeship program over 14 years ago. Since then, she has gained a wealth of experience in corporate and self-employed accounts, bookkeeping, and VAT returns.

We have written about company structure before, but we believe this is a very important topic. The benefits of being a sole trader vs. setting up a Limited Company do need to be reviewed occasionally by business owners, especially with all the changes we have had recently with corporation tax.

Welcome to our latest blog post, highlighting the dedicated professionals who make Watson Knipe an exceptional accountancy firm. This month, we’re delighted to introduce Sarah Shadbolt, a Certified Chartered Accountant with over two decades of experience.

As we move closer to the new Government initiative of ‘Making Tax Digital, we felt it was important to explain the benefits of having an accountant.

Managing your business budget

As the lockdown continues businesses are continuing to operate in very challenging conditions as we start the new year. We wanted to share with you a few tips which we hope will help you to manage your business budget as this is essential to maintain financial health for your business.

Accounting standards are used to prepare financial statements of all companies. These allow the companies, their investors and other regulators a standardised way of measuring financial performance.