Accounts and wages in a self-catering holiday cottage business

New business startups can seek assistance from online government resources, also . The tax people, Inland Revenue, also run a series of online free courses, via live webinars and also Youtube, to help you get your tax returns correct, assistance with VAT and supply you with free software for submitting tax returns online.  Their Employer software contains most of the forms and guidance required to run your payroll throughout the year if you employ staff.

In many ways, accounts and wages administration is so very much easier than it is used to be years ago. You can of course keep simple accounts in a spreadsheet of all income and expenditure then get an accountant to complete your tax return if you wish. Properly set up with appropriate formulas, your simple spreadsheet can also automatically generate a Profit and Loss and Balance Sheet.