Posts from April 2019

Research by Argos for Business says that errors in managing petty cash could be costing small businesses in the UK an average of £355 a year. With over five million businesses across the country that could amount to almost £1.8billion. 
 
Lost receipts and complicated processes are the biggest problems. More than one in 10 (15%) of those surveyed said that they didn’t know how their employers keep track of petty cash. 
 
Petty cash is often used for the wrong things too. For example, the research showed that some businesses used petty cash to buy assets – even a used ice cream van in one example. Petty cash should only be used for small, occasional costs such as refreshments or parking fees. 
Book keeping, expenses, could you be losing over £350 a year?
Expenses, tax returns, Allowable expenses for small businesses
As the owner of a limited company you can receive tax relief on money you spend running your business. Known as allowable expenses, if you claim them correctly, you can probably increase your take-home pay. 
 
Here are some of the most common expenses you can claim. 
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