The Profit First Blog

Our Profit First Professionals offer their best accounting advice, research and how-tos to help you run your business better!

MTD For Income Tax: What You Need to Know

MTD For Income Tax: What You Need to Know And how we can help you MTD (Making Tax Digital) is a new programme put out by the government in a move to make tax accounting easier to manage.   This will be evaluated and rolled out by the government before


Accountants’ Pet Peeves

Most accountants didn’t grow up dreaming of being accountants, but they do tend to be good with data and organising stuff – well, data anyway.   Like the majority of people, certain things about being an Accountant rile us, so we decided to pop a few of them down –


Move your business forward in 2022

What are your plans for growing your business in 2022? After the instability and turmoil of the past two years, it’s more important than ever to ensure you can roll with whatever punches the near future has in store for us, and that means remaining relevant and competitive in a


Stop Faffing and Start Getting Things Done

Let’s knock one thing on the head straight away – planning isn’t doing. Sorry. It’s really easy to feel like planning is achieving something – but the truth of the matter is that is doesn’t achieve anything.  Not without action, prioritizing and effective goal setting. One of the reasons we


The benefits of having a Will

‘I don’t like to feel out of step with my fellow man’ if you are an avid Downton watcher you will recognise these words from The Earl of Grantham. However, when it comes to planning for the future, I think we should all like to feel very much out of

Stairs with upward arrow

Price Increases 2022

It’s all over the news that 2022 will be the year of the price hike. From food, to fuel, to taxes, UK households will see an increase in household bills from Spring. The biggest thing for businesses is the increase in Dividend Taxes and National Insurance Tax. What does this


7 Benefits of moving to cloud accounting

It’s time to consider upgrading your accounting system to cloud accounting if your accounting team or bookkeeper is still using desktop software or spreadsheets. Cloud-based accounting offers many benefits over on-premises solutions that could help you and your business save time and money. However, many small businesses are yet to