Henry Sanderson

WHAT DO WE THINK ABOUT THIS? Two in five people consider a career in accountancy due to AI... New research from AAT reveals that two in five people would consider switching careers to accountancy if AI could take over routine tasks. That’s not just a statistic - it’s a signal. The profession is evolving. Four in five current accountants believe AI will make their jobs easier, freeing them from administrative burdens and allowing them to focus on strategic, high-impact work. This isn’t about replacement. It’s about reinvention. AI is enabling tailored client advice, smarter tax strategies, and more meaningful business support. It’s also lowering barriers to entry and helping retain talent in a sector facing real shortages. But here’s the catch: technology alone isn’t enough. Nearly 80% of professionals want to upskill in AI, and 71% agree that proper training is essential. The future of accountancy depends not just on tools, but on people who know how to use them well. This is a moment for leaders to lean in, to invest in capability, rethink career pathways, and build a finance profession that’s not only tech-enabled, but future-ready. Are we ready to lead that change? Great research Claire Bennison Read more here https://lnkd.in/ev8GYTZ6

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The one and only Chris Downing joined me to breakdown everything you need to know about preparing for HMRC's Making Tax Digital (MTD)… What You'll Learn: ✅ Key MTD deadlines and compliance requirements ✅ Step-by-step preparation strategies for businesses ✅ Common pitfalls to avoid during the transition ✅ Expert tips for seamless HMRC integration ✅ Real-world implementation best practices for business owners and accountants! Watch it now! https://lnkd.in/ebPdah_Y

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HMRC is quietly increasing its scrutiny of small businesses, especially those run by sole directors or anyone who’s previously claimed VAT refunds or received COVID-related support 😱 If you fall into that category, it’s worth knowing what might trigger a closer look. Things like unusually high expenses, late submissions, or VAT claims that don’t have solid documentation behind them can all raise questions. Even activity that doesn’t quite match your usual pattern can be enough to prompt a review ❌ Now’s a good time to take stock. Go back over your past returns. Make sure your records are complete and easy to follow. If you’re still relying on spreadsheets and email chains, consider switching to proper accounting software that captures receipts and tracks everything in one place 🧾 And if you’ve been managing it all yourself up to now, it might be time to bring in a second pair of eyes. An accountant can spot issues before HMRC does and help you fix them 👨‍💼 The more your business grows, the more attention it attracts. Being proactive now could save you a lot of stress later 💪🏻 #accountantdunstable #auditamy #hmrcchecks #vatinvestigation #compliancecheck

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Are you tired of VAT bills draining your energy every quarter? 💸 Here's the truth: VAT is not your money. Once you're registered, you're simply collecting it for HMRC. The key to avoiding VAT stress is smart planning: ✅ Move 20% of every payment into a separate account straight away ✅ Always set your prices as cost + profit + VAT (not inclusive!) ✅ Keep proper VAT receipts with a UK VAT number (card slips don't count!) ✅ Stay on top of your bookkeeping so you can claim back what you're entitled to 📑 Good bookkeeping = smaller VAT bills and fewer headaches. If you're struggling, this is exactly where a good accountant can make a big difference. 🚀 #VATtips #SmallBusinessUK #BusinessFinance #TaxAdvice #2SistersAccounting

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Good decisions I’ve made as a founder of an accounting firm: 1. Taking payments monthly in advance from day one. No debtors. Monthly cashflow 👌 2. Being quick with decision making. Not always making the right decision but a decision not made is awful for business. 3. Keeping people around me that are genuinely happy for me. Anyone lurking in the background or acting nice to my face but not nice behind it, if I find out….I cut them loose. Immediately. 4. Prioritising marketing over everything else. Can’t run a business without customers. 5. No time sheets. Time means nothing to me. Output means everything. Penalising clients for your staff taking longer to do something is wild. 6. Hiring fast. Firing faster. If the fit isn’t right, you must lead with intention and authority. It’s not fair on the rest of the team to carry anyone not right for the business, its values and our work ethic. 7. Rebranding. My original brand was poop. Huge marketing opportunity for a rebrand. 8. Investing in the best tech from day one and not being afraid to change software if it’s not right for us. Change is important in this day and age. There’s loads more - are these useful?

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A week ago we ran some time management and productivity training at IN Accountancy Loads of top tips, tools and strategies to take away, but the one thing? Not something unique or clever... Nothing new, groundbreaking or revolutionary... Just something so simple, yet so effective... TURN OFF YOUR EMAIL POP UP NOTIFICATIONS!!!! Studies suggest that the average worker is interrupted by emails roughly every 5-10 minutes, and it can take 23 minutes to fully regain focus after each interruption... which means that if you have notifications popping up you are constantly distracted, reactive and never in full concentration mode... Apparently on average workers have 30-40 emails per day (chance would be a fine thing - mine can be more like ten times that number) So even if each email only takes 2-3 minutes to deal with (using the RAFT tool - Refer/Action/File/Toss), that's an absolute minimum of one hour per day spent on reactive emails. Then factor in the on average 23 minutes of missing focus per email... well that's your day gone. Even if you only have ten email interruptions per day, that's nearly four hours of unproductive time... So what to do and how to cope in this day and age of constant interruption and expectation of immediate reactions and responses? Turn the damn notifications off!! Then plan a specific time or times throughout your day - and it will vary dependent on your role, your business, your goals - to check and respond to your emails... treat them like a client or a meeting and don't let them rule your day... Simple isn't always easy... What would you do? 📸 Ali Ford

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Yesterday another accountant asked me a question I get a lot: Liam, how have you scaled Elevate so quickly for an accountancy business?” The truth is, it hasn’t been one magic trick, it’s been layers of strategy, focus, and execution. Here are a few things that made the difference: Processes first. We’ve streamlined everything from onboarding to sending out work for approval. A strong foundation lets you scale without the chaos. Client experience at the centre. We set an internal benchmark to respond to clients within 4 working hours. We run surveys, webinars, tax planning updates, and regular check-ins. Clients can reach us in multiple ways, and we make sure they feel heard. A high performing team. Every team member knows their KPIs, their responsibilities, and most importantly cares about our clients’ success. No one likes to see a client struggle, and that shows in the work. Pricing for value, not competition. We didn’t undercut others just to win business. Instead, we looked at the value we provide and priced accordingly. Niche expertise. We’ve developed specialisms in franchising, care, property, professional services, and influencers. Helping us stand out in a crowded market. The result? We’ve achieved 20 years of growth in just 2 years. Of course, there’s always a bit of luck in the mix. But mostly, it’s been strategic planning, hard work, and a relentless focus on doing things properly. Scaling an accountancy business is possible, but only if you build with intention.

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How to structure your limited company for maximum tax efficiency Without getting lost in accountant-speak Just set up a limited company? Or thinking about switching from sole trader? Here’s how to set things up properly from the start, So you’re not overpaying tax or guessing your way through HMRC. 1. Set a director’s salary Pay yourself £12,570/year (as of 2025). Why? → Below personal allowance = no income tax → Qualifies for NI credits = keeps state pension intact → Reduces Corporation Tax = deductible for the company 2. Pay the rest via dividends Dividends = lower tax rates than salary. The first £500 is tax-free, then: → 8.75% (basic rate) → 33.75% (higher rate) → 39.35% (additional rate) Still cheaper than full PAYE salary. 3. Open a separate business bank account Do not run business transactions through your personal Monzo. You’ll regret it at VAT time. Trust me. 4. Set aside tax monthly 15-20% for Corporation Tax. Extra for personal tax if taking large dividends. If you don’t separate it, you’ll spend it. Then you’ll panic. 5. Keep a clean bookkeeping system Xero, FreeAgent, QuickBooks, pick one. Track income, expenses, mileage, receipts. Don’t leave it to year-end to sort. Setting up the company is the easy part. Running it tax-efficiently is where most people slip up. You don’t need to be a finance wizard, You just need the right structure and rhythm. Sorted early = smoother growth later. And fewer “oh sh*t” moments in January. This is what we do every week for new agency owners. Simple setup. Clear strategy. Clean books. No drama.

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Finding that sweet spot between R&D tax credits and HMRC can be difficult because there has to be a balance which involves many variables. HMRC being one of them. Each caseworker will have their own subjective view of what is R&D. For example:- ➡️The competent professional is an expert in their field, but has to be able to relate what is R&D. ➡️To add another layer, it has to be R&D as defined in the tax legislation not what the company may think it is. ➡️Which the competent professional may not be an expert in! ➡️Then we have HMRC who may question the opinion of the expert with their own understanding of the field sourced from google searches or their own knowledge of the field. *️⃣The competent professional has to be able to put across their professional opinion of the R&D project, *️⃣as defined in tax legislation, *️⃣in the language of the lay person ie the HMRC caseworker! who can only interpret it with their subjective perspective. That’s just one variable! So its finding that sweet spot that balances all the needs to give the most effective outcome in a tax investigation 🎯 #accountants #tax #taxes #hmrc 230925

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