Women peeking through hands with numbers in background

Is there a word for a fear of accountants?

November 7, 2022

The closest word we found was chrometophobia, which is actually an extreme fear of money – spending it, handling it and thinking about it ! This seems like a very different fear, but could it be because we are traditionally regarded as very boring and serious  – maybe we are getting closer to the truth? … Read more

Should I set up as a sole trader or limited company for my small business ?

October 11, 2022

When professionals decide to set up a small business – should they trade as a sole trader (self-employed) or set up a limited company? The main difference between the two are: As a sole trader, you are an individual generating an income, and therefore are taxed under income tax. Your profits are your income. With … Read more

Do I really need an accountant for my small service based business?

September 30, 2022

And the answer is – it totally depends! Every service based business is different and, whilst most are fairly uncomplicated, some require some more support than others – mostly that comes down to the priorities and capabilities of the business owner. More often than not, our limited company business owners  definitely think they do need … Read more

Should I change my business from a limited company to a sole trade?

March 31, 2022

  At WBS Accountants, we had a few limited company clients who have found their turnover dropping as a result of the pandemic.  They wondered if they would be better off as a sole trader and there are probably other businesses thinking the same thing. We thought we’d share our thoughts. What Made you Become … Read more

Top tips to make sure your invoices work hard for you

February 27, 2022

When you run a service based business it’s a reasonable assumption, after providing an awesome service, that your client will just pay your invoice straight away, and for the majority of the time, that’s quite true.  However, you may find yourself in a ‘discomfort’ zone when you find your invoices not being paid on time … Read more

7 things to think about when owning a second property

January 10, 2022

More people than ever are finding themselves in the position of owning a second property, so we’ve outlined a few fundamentals you should be thinking about… 1. Keep a diary This is particularly useful when you come to sell it at a later date and most of these details will help your accountant calculate any tax liabilities and … Read more

Covid-19 Lockdown 3.0 – what’s available?

April 10, 2021

As we start the gradual move out of Lockdown 3.0 and pass the anniversary of the shock of what the first lockdown on 23rd March 2020 meant for us all, we again revisit the current position on government Covid support available so that small businesses are up to date. The fact that the government have … Read more

Budget 2021 – Top 5 Takeaways

March 24, 2021

In the Chancellor’s second (real) Budget earlier in the month he announced that he had to level with people about the state of the UK economy. There were already announcements prior to Budget day of grants for High Street businesses and the hospitality sector and the widely predicted extension of the furlough scheme. The chancellor … Read more

Covid-19 Lockdown 2.0 – What financial support is still available for small businesses

November 25, 2020

  Last updated November 2020 After the initial shock of the lockdown in March, nobody can deny that the level of funding that was given by the UK government was unprecedented, and as we come out of Lockdown 2.0 we’ve highlighted below what is still available by way of financial support CJRS The CJRS has … Read more