How To Start Your Own Bookkeeping Business – Book

April 14th, 2013

How To Start Your Own Bookkeeping Business – Book

Available on Amazon (Kindle) and from the website: How To Start Your Own Bookkeeping Business

If starting your own bookkeeping business is of interest, then this book is for you.

Give it a ‘like’ on facebook:

Watch the VIDEO

On YouTube:

How To Start Your Own Bookkeeping Business

April 28th, 2013

Are you thinking of starting a home based accounting business? Or thinking of running a bookkeeping business? Want to be a freelance bookkeeper? Check out this book (video overview) here: How to Start Your Own Bookkeeping Business

A free chapter of the book is available from:

What’s The Difference Between Being Self Employed and a Limited Company?

April 27th, 2013

We’re always being asked by new start-up companies, whats the difference between being self employed and a limited company. There are tax difference, and there USED TO BE  a very specific tax advantage of being a limited company where th first £10,000 net profit was tax-free (in the UK), but that has since changed.

The accountants will always tell you the best structure ‘depends’ on what it is you want to achieve – true. But there are reporting differences. The video below explains what they are. This blogpost will just recap them.

Limited Liability Companies

  • You have to file annual accounts with Companies House
  • Your year end can change, but its set to the end of the month in which you formed the limited company e.g. if you formed the company on 10 July, your year end will always be to the end of July (unless you change it)
  • You can change your year end by downloading the form from Companies House
  • The accounts you have to file consist of a profit & loss and Balance Sheet and are available to the public (for a small fee) from
  • You have to file a Corporation Tax Return 9 months after the end of the financial year e.g. with a year end 31 March, your return is due 31 Dec
  • CT is approx 20% …. and so with Sales – expenses = net profit before tax minus Corporation Tax = Net Profit After Tax… and out of this figure (NPAT) you can pay dividends to your directors
  • There’s an annual form (on the anniversary of opening the company), which is due every year e.g. in this example, every 10th July, the company will get a reminder to fill in the form. Theres a small charge to fill it in online (about £13, or paper version £30), and it just asks – who are the company directors? date of birth? address? whats the main type of business the company is classed as e.g. accounting, law etc., Share capital.

Self employed

  • You file a ‘self assessment tax return’
  • The year end is government-set and is always to the 5th April
  • You can file online at
  • Your ultimate deadline is 31st Jan, (although if you get it in my 30th Sept, then the HMRC will help you to calculate the tax due for you)
  • Every UK individual has a tax-free allowance which they can earn, before tax is due (around £9,400 at time of writing)
  • Sales, minus allowable expenses = net profit…
  • National Insurance & Tax of about 33% is due on the earnings / net profit above the tax-free allowance


It’s important to keep on top of your receipts, and to get your accounts done on time, otherwise penalties and fines will be coming your way! The UK government give you plenty of time/notice to file ontime, so there isn’t really any excuse if you are late. If you are a bit disorganised and need a hand with these things, then do contact Boogles:

The video explaining the difference between being a limited company and self employed on You Tube is here:

What’s The Difference Between Being a Limited Company & Self Employed?

Managing Credit Control And Recovering Bad Debts

April 25th, 2013

When you are doing everything in your business, you’ll appreciate that there are only 24 hours in a day. And if people are giving you the run around ‘I’ll pay you later’, ‘yes i’ve been meaning to get round to it’… and then in some cases ignoring you altogether, it can drive you round the bend!

Get in a bookkeeper, and make part of their routine include some credit control – chasing up outstanding debtors, sending our statements, addressing any issues or queries that are stopping people from making a payment. This will solve some of your problems, because a bookkeeper is a neutral person. Sometimes a client needs to deal with someone else in your organisation, not you. Boogles Ltd don’t even have to come to your office to do the credit control for you. If we have an aged debtors list – we can do some of that chasing from our offices / off site.


You’d be amazed, that with one client, withint he space of about 2 weeks, just with a gentle nudge and reminder letters and emails, £30,000 of cash came in after an afternoon of credit control. IT IS ABSOLUTELY WORTH IT.


HOWEVER, one needs to put a time limit to this. If after 90 days the money has failed to materialise, and no payment plan is in place, then its time to call in the Debt Collector / Recovery agent.

Specialists like this are experienced and trained to get your money out of people. Listen to the recorded interview we did with Clayton Coke of PRMS Ltd talking about ethical debt recovery and how to manage bad debts. You Tube link:

Accept Card Payments From Customers

April 15th, 2013

Cashflow is king. These days, if the cash isn’t flowing quite like it used to, help yourself and your customers… get a credit card reader, so that you can take payments on the go… easily, without any fuss. Better still, unlike traditional mobile terminals, instead of paying every month for a machine – this one, you just pay when you use it!

See below.

Inline images 1

Sign up here, and get your reader now:

Real time information and reporting

April 7th, 2013

Real time information and reporting


I run my own small business, and I pay my employees on the 12th of each month; therefore this year I will be paying my employees on 12 April 2013.  Their pay is for the month of March so I have calculated using month 12 allowances, but with the introduction of real time information I need to know how to make HMRC aware of this when submit my first real time PAYE data. I want to ensure I am doing things right.


Unfortunately what you have described would be operating PAYE incorrectly.  If you are paying on the 12 April this is month 1 and not month 12.  Therefore when you have run the payroll correctly i.e. for the pay day on 12 April using month 1 your submission to HMRC will show the earnings paid etc. for month 1.

Make yourself familiar with the new changes! It’ll catch a lot of people out 🙁

97 Ways To Market Your Accountancy Business

April 6th, 2013

97 Ways To Market Your Accountancy Business

  • For accountants, bookkeepers, marketing people
  • Nothing happens in a business until ‘someone sells something’ and this book will help you to think about how you can market your products and services so that customers beat a path to your front door
  • Available on Amazon

Advice To Achieve Success Along With Your Forex Currency Trading

April 5th, 2013

kalkulator kredytowyDespite the fact that there are lots of stock markets and supply-forex trading websites available through the internet, Foreign exchange is earlier mentioned and away, the most common. Perhaps it’s that trillions of bucks trade fingers day-to-day. Or perhaps, it’s that exist along with just a few hundred $ $ $ $. No matter what takes in you to definitely Foreign exchange, make sure you start using these suggestions to learn about the current market prior to deciding to gamble.

If you want to be consistently profitable in the foreign exchange market, you need to exercise capital preservation. When you have tried to buy and sell in the Forex market in past times and was unsuccessful, then chances are you ought to reduce your deficits and never repeat the process. Be intelligent about the determination on whether to buy and sell or otherwise.

Don’t consider the chicken get out of when you’re on a roll. Foreign exchange forex traders should never change up until the marketplace does. If the industry begins to take a downwards direction, then reduce your loss and get out. Turn this component of your trading prepare. Write it down leaving it inside a conspicuous place as a continuous prompt.

Don’t drop site of the primary reason for forex market graphs. Graphs of marketplace process reveal to you in the event the industry is pondering bearish or bullish. When selling price process is charted, it will help you see developments as they begin to build and make the most of all of them with your pre-organized buying and selling method.

As a way to reach your goals in the Forex market, you have to not make hasty judgements. You are unable to assume to generate a great deal of money at the same time, so you need to show patience. Gradual and constant along with steady dollars managing, is considered the most virtuous position to obtain when investing on the foreign exchange market. So don’t be hasty, hold out it out.

With market boosts your situation should extend, not twice. Acquire fewer currency exchange models to make small and smaller additions as you may shift upwards. Don’t always keep piling money, if you aren’t acquiring a good give back. In case you are within a losing placement, don’t pyramid your loss. Workout a modicum of personal-restraint.

When taking part in forex currency trading, a fantastic idea is always to have two accounts: a true bank account as well as a demo one. The genuine bank account is definitely the one particular that you do your genuine investments. The demo bank account is strictly utilized for testing functions. Use the demonstration accounts to examine substitute trades and alternative ceases. This lets you be a little more experienced in the marketplace without sacrificing your actual dollars.

The greatest oversight you can make in currency trading is just not to make use of cease deficits. Quick-word loss will almost always become long-term deficits. A stop damage prepare stops a small decrease from transforming into a large one, by offering with an appropriate damage threshold that you decided in advance.

Probably, you can expect to expertise malfunction in the foreign exchange market place eventually, be it a little failing or even a large malfunction. Once this failing comes about, pay attention to the failing, and when the failure cannot be fully removed, then you need to reduce the failing. Workout humility and determination

You need to do your very own examination. Don’t just try to trip a person else’s coattails. Specialized info is very subjective,and an individual else’s technique is probably not good for you. Furthermore, the impulses transform frequently and you should be capable of know when you ought to understand a move, to help you adjust your strategy, properly.

You have to understand that Forex is actually a worldwide market rather than just a market that runs in your nation. This implies it’s bigger than the United kingdom Inventory Trade or anything at all Wall Streets could actually aspiration up. When you comprehend the size of Forex trading, you will end up more likely to method it together with the required caution.

Educate yourself on Margin forex trading in the Currency trading system. This really is 1 approach Forex trading users could have achievement with. The fundamental strategy is basically that you are able to buy and sell more money by using a lower downpayment. The influence made by this tactic lets you improve your benefits significantly but be aware, failures can be elevated. When margin buying and selling, know that it is essential to always keep a surplus cash equilibrium inside your account.

Never ever business with small print. Fine print on any kind of graph or chart or system means that the trade was calculated following it happened, not during the process. For the best accurate info, use only these charts that say they were recorded are living, as you can rest assured the figures are precisely where they were during the industry.

Ensure you see the directions that come with your signal application and understand the types of signal you might be getting. Some software offer you extremely details about the unpredictability of the money, or if this has been overbought or oversold. Discover ways to utilize these indications to make knowledgeable judgements.

To minimize the appearance of Foreign exchange losses, avoid getting too attached to a specific trading position, specially if it is will no longer employed in your favour. By dangling to a dropping placement too much time, in the hopes that the current market tendency will reverse in your favour, you could possibly turn out exacerbating the circumstance.

Cease seeking successful strategies since there are not one. Take the time sharpening your talent as an alternative to trying to find the important top secret that can yield millions of dollars. Don’t get textbooks, different publications, or software for the substantial value endorsing to disclose the multi-mil money buying and selling key. Commit your cash in good quality education rather to understand the abilities you need.

Stay along with foreign exchange connected information by checking out a number of media places. Flickr, although not a traditional news outlet, is an superb source as high as day information and facts. Check out news resources in many distinct places. U.S. forex traders especially require to pay attention to European, Asian, and Uk information places.

Find the best Forex broker to work alongside. Pick a brokerage that may provide small pips spread for them to offer you a better earnings. When the pips spread is way too big, it is going to be a hardship on the forex trader to get any profits. Examine the broker’s background well before making an investment any cash using them.

Now that you’ve see the recommendations over, you will notice that making an investment in Foreign exchange is two pieces common sense and two elements strategy. That’s essentially all there may be into it whenever you bust it straight down. Even so, a great deal goes into to earning up these popular-sense tactics, so always make sure to work with what you’ve acquired right here to be


April 5th, 2013

A comprehensive brochure of the Boogles Training and Courses and Books available:

  • Download the brochure
  • Includes Boogles Masterclass series
  • Legal Bookkeeping Courses
  • Money Management & Financial Freedom courses


FAQ about RTI payroll changes…

March 21st, 2013

RTI Changes are coming up. There is no hiding, or burying your head in the sand. BIG BROTHER IS watching you. And if you slip you, you’ll get done. BUT, don’t worry…This blog will help you to know what to do…

There are a number of important preparatory steps employers need to take in good time before the launch in April 2013…

1. Data Quality

PAYE RTI requires complete accuracy of all employee data. So just make sure that you have the right information on employees. You cannot ‘guess’ their DOB e.g. 1.1.77 … no more of that. Check that you have the correct info on people, especially:

  • Full names, including middle names (abbreviations are no longer allowed)
  • NI numbers
  • Birth dates
  • Gender
  • Address
  • Number of hours normally worked (less than 16, 16 to less than 30, 30 or more, other – if number of hours varies significantly)
  • Regularly paid – regularly paid employees are paid each week or month and will be in almost all pay runs. Those who take more than three months off at a time, such as seasonal workers, should be set as irregular.



All UK payroll software has effectively had to become PAYE RTI compliant.

PAYE RTI compliant software will allow employers to submit RTI returns directly over the Government Gateway via an internet connection.

Make sure the software you use is RTI compliant.

Make sure that you are registered with: – so that you can make your submissions online.


FAQ … The answers to some commonly asked questions…

What does RTI? Mean?

RTI stands for ‘Real Time Information’

What is RTI?

RTI is the biggest shake up to payroll since PAYE was introduced in 1994. It is a new filing regime being introduced by HMRC, this will allow HMRC to track employers’ payments, increase the accuracy of PAYE deductions and provide up-to-date information on employees’ earnings.

Is there anything I need to do?

RTI requires certain information about all employees and their payments. If you haven’t already started to, you need to collect any missing data for your payroll.

The information we need is:

  • Full names, including middle names (abbreviations are no longer allowed)
  • NI numbers
  • Birth dates
  • Gender
  • Address
  • Number of hours normally worked (less than 16, 16 to less than 30, 30 or more, other – if number of hours varies significantly)
  • Regularly paid – regularly paid employees are paid each week or month and will be in almost all pay runs. Those who take more than three months off at a time, such as seasonal workers, should be set as irregular.

If you’re unsure whether you have what you need, please contact us ASAP to see how Boogles Ltd can help.

What happens if someone is on long-term sick or maternity leave?

After three months of a regularly paid employee not being paid, HMRC will automatically delete that employee’s details from the database. To prevent this from happening, when an employee receives an SMP1 or SSP1 form, you will need to set them as an irregular employee until they return to work.

I forgot to pay someone – what do I do?

This isn’t a problem as long as there hasn’t been an FPS submitted for this person.

(An FPS is a Full Payment Submission. Every payment made for every employee will require an FPS. So it is just what we call the information is sent to HMRC about payments to employees.)

I need to make an adjustment and pay the employee outside of the pay cycle, is this possible?

Though possible, this is now far more difficult than it used to be. You cannot simply undo the payslip as you could if the adjustment was to be made next time. Are you sure your employee can’t wait for this payment?

Why are they doing this ?!

Quite frankly – there’s lots of small businesses out there, getting their payroll wrapped round their neck… they’re paying people casually by cash and not including them on the regular payroll. There’s lots of people who have more than one job, and the government want to keep track of who is earning what. The government also want to make sure that a company is paying the correct amount of tax each month and not just ‘what they feel like’ or ‘what cashflow will allow’.

Plus it means, if they get the info throughout the year as they go along, then there’s no longer any need for year end forms like the p35, and people who are getting benefits e.g. Working Tax Credits, Job Seekers etc., will now we shown up the minute they’re paid, and the AMOUNT they’ve been paid… no need to wait until the end of the financial year or to make an adjustment if someone has been over/under paid in tax credits the following year.

Basically, it helps Big Brother to keep an eye on you!