Professional Bookkeeping Services Shropshire

All businesses have to keep accurate records of their financial transactions. At the Hollies Bookkeeping, we understand that bookkeeping, payroll and accounting demands are involved in the running of a business no matter how small or large. We also understand that maintaining your financial accounts and records, supervising accounting staff, dealing with accountants, debtors and creditors all place pressure on the valuable time and monetary resources of your business.

Our services include Bookkeeping, Payroll (including Auto-enrolment), VAT Returns, Self-Assessment Tax Returns, Partnership Tax Returns, Construction Industry Scheme, Limited Company Set-up and filing of Annual Returns. We aim to relieve you of these demands by providing professional and efficient services at competitive rates whist at the same time helping you to avoid paying the high costs involved when engaging accountancy firms over an extended period of time.

Hollies Bookkeeping Shrewsbury have been providing first-class Bookkeeping services to businesses across Shropshire for over 10 years. Our team of professionals work tirelessly to provide Shropshire businesses with the best possible Bookkeeping services. We are proud to be a member of the Institute of Certified Bookkeepers.

From baking to bookkeeping in Shropshire

Here at The Hollies Bookkeeping Services in Shropshire, did you know we have gone from baking to bookkeeping in Shropshire?

We were delighted to have been given these two old photos recently from when our offices were a bakery!

The offices for our bookkeeping business are housed in a building on the Main Road in Pontesbury in The Old Bakery.

Old Bennett's Bakery ran from the late 19th century to 20th century in the post-war years.

The brick foundations of a building associated with the bakery were also recorded during excavations in 2017.

Historical descriptions from Discovering ...

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Why completing your self-assessment before Christmas is a priority

Completing your self assessment before Christmas is a priority, but every years it's one that a lot us leave til after the new year.

Every year, over a quarter of people due to file a self-assessment tax return complete it in the final 4 days before the 31st January deadline.

And 5% of returns are filed in the final 24 hours.

However, leaving it to the last minute isn’t really wise as you never know what may come up to prevent you from completing it in time.

With an instant fine of £100 if you miss the deadline, and daily fines of £10 (for up to 90 days) if you haven’t filed...

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What should small businesses know about bookkeeping?

Bookkeeping is essential for any business, but if you are a small business you might be wondering what you really need to know about bookkeeping?

Through bookkeeping, an owner can identify if a business is generating profits or losses.

What are bookkeeping services?

Bookkeeping is the recording, storing, and retrieving of financial transactions for a company, non-profit organization, individual person, etc.

Bookkeeping can include common financial transactions

paying suppliers

billing for services provided or goods sold to clients

documenting receipts from customers

...

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5 ways to avoid financial horror this Halloween

Halloween is fast approaching and everywhere you look has orange pumpkins, ghosts and zombies.

It’s also the time of the year that many SMEs and Directors are submitting their year-end accounts to Revenue. It can be a daunting time for some.

However, let’s not get spooked. Here are five top tips for managing your finances as you come closer to Halloween time and beyond.

Know your Breakeven Point

Every business has a break even point. This is the point at which your total revenue equals total costs or expenses.

At this point there is no profit or loss, in other words your...

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what to do if you do business with EU Hollies Bookkeeping

What you need to do if you do business with the EU

If you do business across the borders of Europe, you need to consider how you structure your business from 1 January 2021.

Spending time now considering how your border business operations and European specific corporate entities will be affected from 1 January 2021, is important.

Incase you hadn’t noticed (!!) the UK has left the EU, and the transition period after Brexit comes to an end this year.

The changes will affect:

UK citizens who currently own, manage or direct a company registered in the EU

businesses who are legal entities operating across the UK-EU border

...

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Job Support Scheme November Hollies Bookkeeping

Job Support Scheme: What is changing after furlough?

Workers at firms told to shut because of coronavirus rules over the winter will receive at least 67% of their pay from the government under the Job Support Scheme.

The scheme replaces furlough at the start of November.

Until then, workers are in line for up to 80% of their pay - 20% from their employer and 60% from the government.

Will you be paid under the Job Support Scheme?

From 1 November, the extended Job Support Scheme will pay people who can't go to work because their business is closed under ''very high'' Tier Three coronavirus restrictions.

The government will pay 67% of wag...

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Are landlords being targeted in the government’s tax clampdown?

If you’re a landlord and are unsure about current changes, The Hollies Bookkeeping can help.

Landlords are being warned that a clampdown on unpaid tax from rental properties is expected to intensify.

Experts point out that the government is looking to boost its funds following coronavirus spending – and that landlords who have failed to disclose their rental income may now be in their sights.

Morag Ofili, of law firm Harbottle and Lewis, said: “HMRC will be looking to claw back funds post coronavi

...

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What is the job retention bonus?

The government is introducing a new Job Retention Bonus to provide additional support to employers who keep on their furloughed employees in meaningful employment.

This will kick in after the government’s Coronavirus Job Retention Scheme ends on 31 October 2020.

The Job Retention Bonus is a one-off payment to employers of £1,000 for every employee who they previously claimed for under the scheme, and who remains continuously employed through to 31 January 2021.

Eligible employees must earn at least £520 a month on average between the 1 November 2020 and 31 January 2021.

Employe...

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What is VAT and how does it work?

The rate of value added tax (VAT) on hospitality and tourism from 20% to 5% has now started – but what isVAT and how does it work?

The cut by the chancellor started last month and it will last until 12 January 2021. It applies to food and non-alcoholic drinks as well as accommodation and admission to attractions across the UK.

Mr Sunak said the move is designed to "get the sectors moving and to protect jobs", but what is VAT and how does it work?

What is VAT?

Value added tax, or VAT, is the tax you have to pay when you buy goods or services.

The standard rate of VAT in the UK ...

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Corporate Insolvency and Governance Act 2020

How will measures introduced by the Corporate Insolvency and Governance Act will affect your filings at Companies House?

On 25 June 2020, the Corporate Insolvency and Governance Act 2020 (the Act) received royal assent. It came into force on 26 June 2020.

The measures introduced by the Act are to relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus all their efforts on continuing to operate.

Accounts

Companies and other types of business registered at Companies House will get more time to file account, under the act.

If your company...

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