P11D (Expenses and Benefits)

The P11D is and Expenses and Benefits form that must be filled out by all United Kingdom employers and sent to the HMRC. The form is to report end-of-year cash-equivalents of expenses and benefits by employers, for employees and Directors who earned £8500 or more in that year – that’s including the adage of expenses […]


What is a Profit and Loss Report?

Just taking a note of your bank balance at the end of the month doesn’t tell the full story of how your business is progressing. If you’re using a computerised system, once you’ve completed all the bookkeeping and reconciled the bank account, it is easy to run a few reports to the last day of […]


Apr 19, 2015

What on Earth is a Management Accountant?

Put simply, management accounting (often called managerial accounting in the US) is the provision of financial and non-financial information to managers. A management accountant, therefore, is someone who does exactly that. This description, however, fails to grasp the importance of management accountants to the functions of a business, and dramatically understates the fact that management […]


Apr 14, 2015

How to Choose an Accountant

In the first instance, one of the most important questions to ask yourself when choosing an accountant is ‘Do I really need one?’ If you’re a sole trader with a very small turnover, low ambition and lots of time to do your own paperwork, the chances are that employing an accountant full-time (on a monthly […]