Embracing Digital Enablement: How Accountants Empower Business Clients to Thrive in a Digital Era
The digital landscape is transforming the way businesses operate, requiring them to adopt digital enablement strategies to stay competitive and drive growth. Accountants play a crucial role in guiding their clients through this transition, helping them understand and implement digital tools and technologies.
In this article, we will delve deeper into the various ways accountants support their…
AI-Powered Accounting: Boosting Efficiency and Value for Small Business Clients
The fear of Artificial Intelligence (AI) replacing human jobs has been around for a long time, and it’s only getting more intense. But here’s the truth: AI is far from being able to replace human labor anytime soon, if ever. In this article, we’ll explore the impact AI is likely to have on the accounting profession and the potential benefits it will bring to both us as…
Changes to the VAT Penalty System in 2023
Situations often arise where we are unable to hit payment deadlines, whether human error, or circumstances conspiring unfavourably, it happens. So, it’s good to see HMRC taking a positive stance in this regard, in its latest revision of the VAT penalty system. In this article, we’ll review the changes to the VAT system you can expect in 2023.
As of January 1 the default VAT penalty…
How to mitigate the impact of inflation on your business
Inflation is a major factor that entrepreneurs and small business owners must take into consideration when crafting their business plans and setting prices. With careful planning and adaptation, businesses of all sizes can weather the effects of rising prices and stay competitive in today’s economy. Inflation affects many areas of businesses, such as pricing strategies, supply chain costs…
A Guide to Understanding and Improving Your Balance Sheet
Understanding and managing your business’s balance sheet is an essential part of any successful company. A balance sheet is a financial statement that provides a snapshot of what you own (assets) and what you owe (liabilities). It's important to keep track of this information so that you can stay within your budget, pay off debt, and make sure your cash flow is healthy. Let's take a look at how…
Planning for a challenging 2023 and beyond
As we reach the end of another year, business owners turn their attention to their goals and objectives for the following year. In this article we will review the challenges ahead and some of the issues businesses will face and need to fully consider in their business planning for 2023 (and beyond).
Next year, businesses continue to face an unprecedented set of challenges. Globally, economies…
How digital enablement can help reduce cyber crime and fraud
While most business owners understand the risks they face from fraud, whether that be threats from cyber attacks or as we will consider here, internally from white collar crime, a surprising number lack the systems and controls to mitigate these threats. TaxAgility Accountants can help you fight these threats through digital enablement.
For instance, a report by Symantec, the antivirus software…
What is Digital Transformation?
New technologies and stakeholder expectations mean businesses are undergoing a transformative process - digital transformationThe clue is in the word transformation. While most businesses have embraced the digital world and many of us just take all the digital services and applications around us for granted, transforming our businesses digitally takes change to the next level. technology…
Digital Enablement
Enhancing business efficiency digitally
Digital enablement is an 'ongoing process', introducing and working with new digital systems and processesAs digital transformation sweeps inexorably through the business world, is there ever a time when you can feel like “it’s over” or “we’re done on this”? Well, likely not. For some the process of overhauling a more traditional, ‘analog’…
Is it better to lease a car or buy one outright?
Buying a new car, especially if it is a personal purchase, is likely to be the second most expensive purchase you’ll make, after your home. It’s not surprising then that it makes sense to explore the options you have in acquiring such an asset. If you're buying a car for your company to use, then there are a range of considerations to make too.
Typically, whether the car is a business purchase…