Business Accounting Guides

Everything You Needed To Know

RIFT Accounting understands that when you're getting started in a new business, or taking an existing one in a new direction, there are rules you have to follow. Check out the resources on this page, and let our guides be your conscience.

Guide To Using Your Profit and Loss Statement (PDF 467k)

What To Do After You Register For VAT  Knowing how your numbers add up is essential - but it's not enough on its own. You've got to make those numbers work for you.

  Your accounts aren't just a record of where you were last year.

  Shine the right light on them and they'll not only show you where you could be, but they'll give you the tools you'll need to get there as well.



 

What To Do After You Register For VAT (PDF 275k)

What To Do After You Register For VAT  VAT registration is a big step for a small business. Let RIFT Accounting make sure it's in the right direction.

  Okay, so you bit the HMRC bullet and registered your business for VAT. Good for you - you've shown the world you've got confidence in your company, and you're ready to take the next step on your journey.

  It's time to dig into your RIFT Accounting survival pack, grab your charts and compass and start drawing up a map of the future.




How An Accountant Can Help Your Business (PDF 432k)

Guide To Partnerships  Great accountants are true team players, always scouting for the best routes to lasting success and sustainable growth.

  Accountancy’s about much more than just making sure the numbers add up.

  Find out more about how you can use the data to help your business grow.

 

 

 

How To Choose An Accountant (PDF 444k)

Guide To Partnerships  Choosing an accountant is never as simple as deciding who’s “the best”.

  It’s about finding the right specialist for your business.

  Learn what questions to ask to find what you need.



 

Guide To Switching Accountants (PDF 291k)

Auto enrolment pensions guide  Half of all businesses have never switched accountant - even though their satisfaction with the service they receive is less than 22%.

  If your Accountant is taking your business for granted maybe it's time to look for a new partner.

  One who will use your accounts to work with with you and grow your business for the future.

 

 

First Steps When Setting Up Your Business (PDF 471k)

Auto enrolment pensions guide   The first steps you take in a new business are the most important.

  A lack of preparation will see you wandering off the map before sundown.

  To make sure you’re heading in the right direction, here are a few footprints left by successful explorers of the past.

 

 

Guide To Partnerships (PDF 515k)

Guide To Partnerships  If you’ve got two or more self-employed people working together in a simple business structure, then you’ve got a Partnership.

  In a Partnership, everyone involved needs to have a clearly understood stake in the business and its assets..

  This guide will give you some pointers on what to consider.

 

 

HMRC Investigations Guide (PDF 454k)

HMRC Investigations Guide  Of all the dangers you might encounter on your small business adventures, a Tax Investigation from HMRC can be one of the most daunting.

  The chances of it happening to small businesses have risen sharply in recent years.

  Here's what to do to make sure it goes as smoothly as possible if you are selected.

 

 

 
Auto Enrolment Pensions (PDF 626k)

Auto enrolment pensions guide  The compulsory workplace pension, as it's called, means that every employer will have to provide a pension for employees who qualify.

 All businesses will be enrolled in the scheme by 2017.

 It’s a legal obligation with fines and potential prison terms for failure so it’s not something you can afford to take lightly.

 

 


VAT (PDF 208k)

The Explorers Guide To VAT by RIFT Accounting  VAT is a tax charged on most types of goods and services traded in the UK, whether you're trading to individuals or other businesses.

  There are various rates of VAT depending on the types of goods and services you're trading, and different rules for what you can claim back.

  Here's where things can start to get tricky if you're not prepared. Let our guide help you find the right route for your business.

 

 

Fines and Penalties (PDF 444k)

Guide To Cloud Accounting  With fines, surcharges and other penalties lurking behind every possible mistake, you’ve got to get it right the first time, every time.

  Find out what to do if you get a fine, but more importantly, how to ensure that you don't.

 

 

 

 
Choosing Between Sole Trader Or Limited Company
(PDF 141k)

The choice between Sole Trader and Limited Company status is one of the most fundamental decisions you need to make for your fledgling business, and it'll shape every move you make for years to come. Make sure you set out on the right foot by reading our easy guide to the benefits, opportunities and drawbacks of both options.  The choice between Sole Trader and Limited Company status is one of the most fundamental decisions for your fledgling business.

   It will shape every move you make for years to come.

   Make sure you set out on the right foot by reading our easy guide to the benefits, opportunities and drawbacks of both options.

 

 

 
Starting Up A Limited Company (PDF 85k)

If you've decided to take the leap and form a Limited Company, this step-by-step guide is for you. A lot depends on you getting your company established and registered correctly, and having a clear view of the way forward makes all the difference. Read on and we'll show you how to get things rolling.   If you've decided to take the leap and form a Limited Company, this step-by-step guide is for you.

   A lot depends on you getting your company established and registered correctly.

   Having a clear view of the way forward makes all the difference, we'll show you how to get things rolling.

  

 


Starting Up As A Sole Trader (PDF 77k)

If you’re a Sole Trader and want to grow, you need to make sure you've taken all the necessary steps to give your business a firm foundation to build from.  Give yourself the best possible start by reading our guide to starting up as a Sole Trader, and then get in touch to see how RIFT Accounting can help.   If you want to grow, you need to make sure you've taken all the necessary steps to give your business a firm foundation to build from. 

   Give yourself the best possible start by reading our guide to starting up as a Sole Trader.

 

 

 

 
Paying Staff For Limited Companies (PDF 118k)

If you're taking on staff for your Limited Company, you need to be sure you're doing it the right way. Our short guide to paying your employees covers all the basics, from registering yourself as an employer to running your payroll. You'll also see how RIFT Accounting can steer you around the pitfalls and simplify everything.  If you're taking on staff for your Limited Company, you need to be sure you're doing it the right way.

   Our short guide to paying your employees covers all the basics, from registering yourself as an employer to running your payroll.

   You'll also see how RIFT Accounting can steer you around the pitfalls and simplify everything.

 

 


Paying Staff For Sole Traders (PDF 75k)

Even if you're a Sole Trader, you might need a little help from time to time. Our simple guide to paying your staff will make the whole process clear and keep you on the right side of HMRC and the law. Find out how RIFT Accounting can make life as an an employer work for you.  Even if you're a Sole Trader, you might need a little help from time to time.

   Our simple guide to paying your staff will make the whole process clear and keep you on the right side of HMRC and the law.

   Find out how RIFT Accounting can make life as an an employer work for you.

  

 



Responsibilities Of A Limited Company (PDF 106k)

So you're a Limited Company now, or thinking of becoming one? It's simpler than it seems, and RIFT Accounting can take the sweat and headaches right out of it for you.  If you're confused or unclear about tax law, Shareholders or Statutory Accounts, take a look at our guide to the responsibilities of a Limited Company for everything you need to know to get started.  You're your own boss and wouldn't want it any other way - but you've still got taxes to pay and expenses to budget for.

   In fact, in some ways you've got even more responsibilities than if you were running a whole company.

   From weighing up your personal liabilities to keeping the taxman happy, read our guide to your responsibilities as a Limited Company.

  

 

 
Business Insurance (PDF 95k)

Unsure where you stand if someone injures themselves while using your product or service? Want to be sure you're covered if an employee is hurt at work? Whether you're self-employed or running a Limited Company, take a look at our simple guide to business insurance.   Unsure where you stand if someone injures themselves while using your product or service?

   Want to be sure you're covered if an employee is hurt at work?

   Whether you're self-employed or running a Limited Company, take a look at our simple guide to business insurance.

  

 

Claiming Expenses (PDF 85k)

A lot of people miss out by not knowing what they can claim as expenses, or fall foul of the rules by claiming the wrong things. From mobile phone costs and internet charges to clothing and transport, our quick guide to expenses will put you on the right track.    A lot of people miss out by not knowing what they can claim as expenses.

    Many fall foul of the rules by claiming the wrong things.

    From mobile phone costs and internet charges to clothing and transport, our quick guide to expenses will put you on the right track.

 

 

 
Cloud Accounting (PDF 444k)

Guide To Cloud Accounting  Cloud accounting offers a better overview of your finances and helps you work with your team, suppliers or customers, do you can work smarter and faster.

  Your data is always securely backed up and you can log in and work with us from anywhere – seeing exactly the same screen as us.

  Find out more about Cloud Accounting and how it can work for your business.

 

 

 

If there are any other guides that you would like to see, please let us know.

Call us on 01233 653006 and see how we can help you today.

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