A Guide to Bookkeeping for Shopify Store Owners

Running a Shopify store in the UK is an exciting opportunity, but along with sales and growth comes the responsibility of proper bookkeeping. Whether you're just getting started or scaling your online business, understanding bookkeeping for Shopify is essential for staying compliant, profitable, and financially in control.

Key Accounting Dates May 2025

As a small business owner, staying on top of important tax deadlines is crucial to avoid penalties and ensure your operations run smoothly. May 2025 brings several key tax dates that all UK businesses must be aware of, from Corporation Tax returns to VAT payments and employee tax forms.

What are the Benefits of Paying Corporation Tax Early?

Discover why UK companies choose to pay corporation tax early. Learn the benefits, HMRC interest rules, and how early payment can support your business.

What is National Insurance?

This National Insurance overview aims to provide a detailed understanding of National Insurance, covering its purpose, the rates at which contributions are calculated, and the impact it has on your entitlement to state benefits and retirement planning.

Limited Company VAT: What You Need to Know

In this post, we’ll explore everything you need to know about Limited Company VAT, including when you need to register for VAT, how to manage VAT for your business, and the common VAT schemes available.

What is the Construction Industry Scheme?

Under CIS, contractors are responsible for deducting tax from payments made to subcontractors for construction work. The deductions are then passed on to HMRC.

What is Capital Allowance?

Minimising tax liabilities is a key concern for UK businesses, and capital allowances provide a valuable way to reduce taxable profits legally. These allowances enable businesses to claim tax relief on qualifying capital expenditures, effectively lowering their overall tax bill.

The Importance of Small Business Budgeting: How to Create a Budget that Works

In this post, we'll explore why budgeting is crucial for small businesses, provide a step-by-step process for creating an effective budget, and discuss tools and best practices for maintaining financial discipline.

How to Handle Payroll and PAYE for Your Limited Company

When you run a limited company, managing payroll and understanding PAYE (Pay As You Earn) are essential aspects of your responsibilities. Not only does this involve paying your employees correctly, but it also ensures compliance with UK tax laws.

What is Benefit-In-Kind and Company Cars

Benefit in Kind (BIK) tax applies to employees who receive perks from their employer that have a monetary value—such as a company car. If you drive a company car for personal use, it is considered a taxable benefit, and you'll need to pay BIK tax.

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Accounting Wise is a trading style of Accounting Wise Ltd, a limited company registered in England under company number 09365202. Our registered office is: The Carriages, Station Road, Ware, SG12 9PL UK.

Content is for general information only. Always take advice.