When it comes to ensuring that businesses are complying with tax rules, HMRC take no prisoners. In 2015 alone, a crackdown on VAT rules earned the government an extra £468 million in tax (according to UHY Hacker Young). Unlike large organisations, many SMEs lack rules and processes, therefore the risk…Read more »
Business Expenses
Get the best advice on managing your business expenses and ensure you are managing your expenses correctly.
Keeping track of expenses for remote working employees
Keeping track of expenses and ensuring that they are submitted, reviewed and approved in a timely manner can be a tough job at the best of times; one thing that can make it even more difficult is when your company employs a large number of employees working remotely. Perhaps your…Read more »
Wrongful expense claims cost UK economy billions each year
Research shows that employees who regularly overclaim or underclaim on business expenses could be costing the UK economy around £1.6 billion each year. The 2017 study, which anonymously questioned 1,000 workers, revealed that 36% of employees who drive a company vehicle or who are entitled to claim back mileage allowance have…Read more »
Engage your staff in self-controlling expenses
For many businesses, the process of expense management for staff who are “out on the road” can be something of a nightmare. There is a natural tendency for people to maximise personal gain, and when this can be done at the expense of others, it’s a very tempting proposition. Constantly…Read more »
Is your spreadsheet being spread too thinly?
While Excel is undoubtedly a useful tool, it’s worth remembering that it has been 40 years since electronic spreadsheets were first adopted by businesses in the UK – and when it comes to expense management, it’s high time businesses started adopting a more advanced approach. If your business is still…Read more »
What is Two-Step Authentication and how will it enhance your security?
In an age where digital safety is at the forefront of the technological mind – from GDPR to privacy scandals in the media – businesses could be forgiven for thinking that it is a mammoth task keeping your company expense data secure and HMRC compliant. This is where we come…Read more »
How digital expense management can get your SME through an HMRC audit
If your small business has been selected for an audit by HMRC, you might be worrying what the next few weeks and months have in store for you. Audits are never much fun and can lead to a whole load of stress for financial departments, managers and company owners. The…Read more »
How best to manage contractor expenses
If your company regularly uses contractors at events or for particular services, then it is important that you manage their expenses effectively. Contractors are often given expenses benefits including food allowances and travel reimbursement but these can be difficult to track. Failing to track these properly can lead to you…Read more »
Why excel spreadsheets may be holding your business back
While Excel is undoubtedly a useful tool, it’s worth remembering that it has been 40 years since electronic spreadsheets were first adopted by businesses in the UK – and when it comes to expense management, it’s high time businesses started adopting a more advanced approach. If your business is still…Read more »
Are paper receipts a thing of the past?
The use of technology is now commonplace in the business world, so it’s important to adapt your business practices to meet the demands of this ever-changing landscape. Utilising a cloud-based system gives you full control over your company finances, and a big part of this is the use of digital…Read more »
