# McKenzies Accountants


## Posts

- [Smart Cashflow Strategies: Practical Accounting Tips](https://mckenziesgroup.com/2025/08/07/smart-cashflow-strategies-practical-accounting-tips/): Smart Cashflow Strategies: Practical Accounting Tips Managing cashflow is more than just keeping the lights on. It’s about building a strong, flexible business that can grow with confidence. At McKenzies Accountants, we understand the challenges local businesses face, especially in today’s fast-paced economy. Whether you’re launching your first business or managing a growing enterprise, these practical tips will help you take control of your cashflow. Why Cashflow Matters Cashflow is the heartbeat of your business. It’s the money coming in and going out. It pays for salaries, rent, suppliers, and investments. When cashflow is healthy, you can meet your obligations, grab ... Read more
- [Are you paying the correct amount of VAT](https://mckenziesgroup.com/2025/07/21/are-you-paying-the-correct-amount-of-vat/): Are you paying the correct amount of VAT For many business owners, VAT can feel like a minefield – complex rules, changing regulations, and the constant pressure to get it right. But what if your business is unknowingly overpaying VAT? At McKenzies Accountants, we offer a professional VAT Health Check service designed to uncover hidden savings and ensure your VAT processes are fully compliant. Whether you’re a small business in Oxted or a growing company in the UK, our tailored VAT services can help you take control of your finances and avoid costly mistakes. Why a VAT Health Check Matters ... Read more
- [Money Matters: 5 Financial Traps That Can Sink Your Business](https://mckenziesgroup.com/2025/07/07/money-matters-5-financial-traps-that-can-sink-your-business/): Money Matters: 5 Financial Traps That Can Sink Your Business Running a business is no small feat. With the constant juggle of daily operations, customer satisfaction, and brand development, financial management can easily slip through the cracks. But budget and financial missteps can seriously hinder your business’s growth and stability. At McKenzies Accountants, we’ve seen firsthand how avoidable errors can derail the most promising of business ventures. Here are the five biggest financial mistakes business owners make – and how you can avoid them with smart planning and regular reviews. 1. Neglecting a Budget and Forecast Many business owners operate ... Read more
- [How to Choose the Right Bookkeeper for Your Business](https://mckenziesgroup.com/2025/06/18/how-to-choose-the-right-bookkeeper-for-your-business/): How to Choose the Right Bookkeeper for Your Business Bookkeeping Oxted – Trusted Local Support You Can Rely On When it comes to managing budgets and forecasts for your business, choosing the right bookkeeping service is more than just a tick-box exercise, it’s a strategic decision that can impact the growth and stability of your business. At McKenzies Accountants, we specialise in bookkeeping in Oxted, supporting small to medium-sized businesses with accurate, reliable, and local financial expertise. Here’s what to look for when selecting the right bookkeeper for your business: 1. Identify Your Bookkeeping Needs Start by understanding what level ... Read more
- [P11D Deadline is Approaching: What UK Business Owners Need to Know in 2025](https://mckenziesgroup.com/2025/05/16/p11d-deadline-is-approaching-what-uk-business-owners-need-to-know-in-2025/): P11D Deadline is Approaching: What UK Business Owners Need to Know in 2025 With the summer fast approaching, now is the time for UK employers to prepare for an important item on the tax calendar, the P11D submission. If you’ve provided benefits or reimbursed expenses to employees or directors during the 2024/25 tax year, this task should be high on your priority list. Failing to file correctly and on time can result in fines, penalties, and administrative headaches. In this article, we break down what’s involved and how to stay compliant, as well as upcoming changes to be aware of. ... Read more
- [National Insurance Changes: What Employers Need to Know](https://mckenziesgroup.com/2025/04/21/national-insurance-changes-what-employers-need-to-know/): National Insurance Changes: What Employers Need to Know As of 6th April, businesses across the UK have faced two significant changes to National Insurance contributions (NICs), impacting their payroll costs. The rate of secondary Class 1 NICs has risen from 13.8% to 15%, and the threshold at which employers must start paying NICs on employees’ earnings have dropped from £9,100 to £5,000. These changes mean businesses will be paying more in employer NICs and on a larger portion of employees’ salaries. For small and medium-sized businesses, these additional costs can add up quickly, affecting cash flow and profitability. However, there ... Read more
- [UK Spring Statement 2025: Key Highlights for the Construction Sector](https://mckenziesgroup.com/2025/03/27/uk-spring-statement-2025-key-highlights-for-the-construction-sector/): UK Spring Statement 2025: Key Highlights for the Construction Sector Chancellor Rachel Reeves’ Spring Statement on 26th March 2025 introduced a range of measures aimed at strengthening the UK’s construction industry and tackling the ongoing housing shortage. With substantial investments in affordable housing and skills development, the government aims to support industry growth and economic recovery. £2 Billion Investment in Affordable Housing The Chancellor has committed an additional £2 billion to the Affordable Homes Programme (AHP), which is set to deliver up to 18,000 new social and affordable homes. This funding is part of the broader government strategy to construct ... Read more
- [Essential Tips to Help Your Small Business Thrive](https://mckenziesgroup.com/2025/02/27/essential-tips-to-help-your-small-business-thrive/): Essential Tips to Help Your Small Business Thrive Growing a small business is an exciting journey, but it comes with challenges that can overwhelm even the most passionate entrepreneurs. Managing cash flow, keeping up with financial records, and finding time to focus on strategic growth can be tough. That’s where smart financial management and outsourcing key tasks can make all the difference. At McKenzies Accountants, we work with small businesses to help them grow efficiently by offering expert accounting, financial planning, and business advice. Here are some essential strategies to help you scale your business while keeping your finances in ... Read more
- [The Top 5 Benefits of Outsourcing Payroll to an Accounting Firm](https://mckenziesgroup.com/2025/02/13/top-5-benefits-of-outsourcing-payroll-to-an-accounting-firm/): The Top 5 Benefits of Outsourcing Payroll to an Accounting Firm Managing payroll is one of the most critical functions in any business, but it can also be one of the most complex and time-consuming. For small and medium-sized enterprises (SMEs), navigating payroll compliance, tax regulations, and employee payments can become overwhelming. That’s why many business owners are turning to accounting firms for payroll outsourcing and advice. At McKenzies, we specialise in helping businesses streamline their operations, and payroll is no exception. Here are the top five benefits of outsourcing your payroll to a trusted accounting firm. 1. Ensure Compliance ... Read more
- [Smart Tax Planning: A Guide for Business Owners](https://mckenziesgroup.com/2025/01/27/smart-tax-planning-a-guide-for-business-owners/): Effective tax planning plays a crucial role in the financial success of any business. Tax planning is an essential part of running a successful business. Yet, for many small and medium-sized business owners, navigating the complexities of the UK tax system can feel overwhelming. The good news? With the right strategies in place, you can reduce your tax burden, improve cash flow, and reinvest savings into growing your business. At McKenzies Accountants, we help business owners make informed decisions that optimise tax efficiency while ensuring full compliance. Here, we explore smart tax-saving strategies that every business owner should consider. Understanding ... Read more
- [Merry Christmas and Happy New Year!](https://mckenziesgroup.com/2024/12/18/merry-christmas-and-happy-new-year/): Merry Christmas and a Happy New Year We’d like to wish all our clients a very Happy Christmas and all the very best for a prosperous New Year! Office hours The McKenzies office will be closed from 1pm on Monday 23rd December until Thursday 2nd January 2025. We look forward to catching up with you in the new year.
- [Strategic Tax Planning: What Business Owners Need to Know](https://mckenziesgroup.com/2024/12/12/strategic-tax-planning-what-business-owners-need-to-know/): Strategic Tax Planning: What Business Owners Need to Know Tax planning isn’t just about meeting deadlines or filing returns—it’s a strategic tool that can save you money, improve cash flow, and provide the financial clarity needed to grow your business. For small and medium-sized enterprises (SMEs) in Oxted and beyond, having a solid tax strategy is essential to navigating the challenges of today’s economic landscape. At McKenzies, we specialise in helping UK businesses optimise their tax positions while staying compliant with UK tax laws. Here’s what you need to know about strategic tax planning and how it can benefit your ... Read more
- [Beyond the Books: How Accountants Are Shaping the Future of Business](https://mckenziesgroup.com/2024/11/19/beyond-the-books-how-accountants-are-shaping-the-future-of-business/): Beyond the Books: How Accountants Are Shaping the Future of Business In today’s fast-paced and ever-changing business environment, the role of accountants has expanded far beyond crunching numbers and filing taxes. Modern accountants are strategic partners, helping small and medium-sized business (SMEs) owners navigate challenges, seize opportunities, and future-proof their operations.  As we approach the new year, it’s the perfect time to reassess your business goals and position yourself for success. Here are some key trends shaping the future of business and how a forward-thinking accounting firm can help you capitalise on them.  1. Data-Driven Decision Making Gone are the ... Read more
- [Streamlining Your Cashflow: Practical Accounting Tips for Small Business Owners](https://mckenziesgroup.com/2024/11/08/streamlining-your-cashflow-practical-accounting-tips-for-small-business-owners/): Streamlining Your Cashflow: Practical Accounting Tips for Small Business Owners Effective cashflow management is crucial for the success and sustainability of any small business. Without a clear understanding of your financial status, your business may face unnecessary risks and challenges. Here, we provide practical accounting tips to help you streamline your cashflow and ensure your business remains financially healthy.  Understanding Cashflow Cashflow is the lifeblood of any enterprise, enabling you to pay bills, invest in growth opportunities, and cover operational expenses. Put simply it’s the flow of money in and out of your business. Positive cashflow indicates that your business ... Read more
- [UK Budget 2024: Key Highlights for Small and Medium-Sized Businesses](https://mckenziesgroup.com/2024/10/30/uk-budget-2024-key-highlights-for-small-and-medium-sized-businesses/): UK Budget 2024: Key Highlights for Small and Medium-Sized Businesses The UK Budget announcement for 2024 brings a host of changes that will impact small and medium-sized businesses (SMEs). Here’s a breakdown of the key points and what they mean for SMEs navigating this evolving financial landscape. 1. National Insurance Changes: Rate Increase and Threshold Adjustment Starting in April 2024, businesses will face new rules regarding National Insurance (NI) contributions:  Rate Increase: The employer NI rate will increase from 13.8% to 15%.  Lower Threshold: The threshold at which businesses start paying NI on workers’ earnings will decrease from £9,100 to ... Read more
- [The Power of Real-Time Insights and Cost-Effective Accounting Solutions](https://mckenziesgroup.com/2024/10/28/the-power-of-real-time-insights-and-cost-effective-accounting-solutions/): The Power of Real-Time Insights and Cost-Effective Accounting Solutions In today’s rapidly changing market, making informed decisions is key to maintaining a competitive edge. For small business owners, access to real-time financial insights is not just a luxury—it’s essential. Outdated financial data can lead to costly mistakes, missed opportunities, and poor decision-making. On the other hand, leveraging up-to-the-minute financial information gives you the ability to respond quickly to emerging trends and make strategic decisions with confidence.  At McKenzies Accountants, we understand the challenges small businesses face when navigating the financial landscape. That’s why we offer a range of services designed ... Read more
- [Building a Better Budget: Accounting Insights for Smarter Planning](https://mckenziesgroup.com/2024/10/14/building-a-better-budget-accounting-insights-for-smarter-planning/): Building a Better Budget: Accounting Insights for Smarter Planning For small business owners, financial planning is an essential component of a successful and sustainable enterprise. A well-structured budget allows you to allocate resources effectively, manage cash flow, and achieve your business goals. However, crafting a robust budget can be challenging without the right guidance.   In this article, we will share accounting insights that can help you build a better budget and set your business on the path to financial success.  Budgets & Forecasts Services Understanding the Importance of Budgeting Budgeting is more than just an exercise in number-crunching; it’s a ... Read more
- [5 Biggest Accounting Mistakes Business Owners Make and How to Rectify Them](https://mckenziesgroup.com/2024/09/03/5-biggest-accounting-mistakes-business-owners-make-and-how-to-rectify-them/): 5 Biggest Accounting Mistakes Business Owners Make and How to Rectify Them Running a small business comes with its own set of challenges, and accounting often tops the list. Missteps in managing your finances can lead to cash flow issues, tax problems, and even business failure. Fortunately, many of these pitfalls can be avoided. Here’s a look at the five biggest accounting mistakes business owners make and how you can rectify them. We’ll also explore how outsourcing to professional accountants can provide valuable support. 1. Neglecting Cash Flow Management Mistake: One of the most common errors is failing to monitor ... Read more
- [Bookkeeping: Keeping Your Business Finances Healthy](https://mckenziesgroup.com/2024/08/13/bookkeeping-keeping-your-business-finances-healthy/): Bookkeeping: Keeping Your Business Finances Healthy Managing finances effectively can often be a daunting task for small to medium sized (SMEs) business owners. Yet, maintaining accurate and up-to-date financial records is crucial for the health and growth of any enterprise. This is where bookkeeping comes into play. By outsourcing your bookkeeping needs, you can free up valuable time to concentrate on your business’s main functions while ensuring your finances remain in top shape. Why Bookkeeping Matters Bookkeeping involves more than just recording transactions. It’s about understanding your financial health and making informed decisions that drive your business forward. Here are ... Read more
- [Business Planning for SMEs: Financial Forecasts & Budgets](https://mckenziesgroup.com/2024/08/07/business-planning-for-smes-financial-forecasts-amp-budgets/): Business Planning for SMEs: Financial Forecasts & Budgets For small and medium-sized enterprises (SMEs), thorough business planning is a necessity. Among the myriad elements that contribute to a robust business plan, financial forecasting and budgeting stand out as pivotal components. They provide the financial roadmap necessary to guide your business towards its goals, ensuring you stay on track and make informed decisions. This article explores the importance of financial forecasting and budgeting in SME business planning, offering guidance geared towards small business owners. Understanding the Basics What is Financial Forecasting? Financial forecasting involves predicting future revenues, expenses, and cash flow ... Read more
- [Tax-Saving Strategies for Business Owners](https://mckenziesgroup.com/2024/07/12/tax-saving-strategies-for-business-owners/): Tax-Saving Strategies for Business Owners Running a small business is no easy feat. Among the myriad challenges, one crucial aspect that often leaves business owners scratching their heads is tax savings. Successful tax planning can make a considerable difference to your businesses bottom line. In this article, we’ll explore the essentials of maximising tax savings for small business owners. By understanding the basics of tax savings, and strategies for deductions and credits, you can ensure your business thrives. Understanding the Basics of Tax Savings What Are Tax Savings? Tax savings refer to the reduction in tax liability achieved through various ... Read more
- [Navigating The Numbers](https://mckenziesgroup.com/2024/07/08/the-vital-role-of-accountants-in-modern-business/): Navigating the Numbers: The Vital Role of Accountants in Modern Business The Changing Landscape of Accounting in the Digital Age In today’s fast-paced business world, the landscape of accounting has undergone a significant transformation. Gone are the days of manual ledgers and cumbersome paperwork. The digital age has ushered in sophisticated software, cloud-based solutions, and real-time data analytics that have revolutionised the way businesses manage their finances. This evolution presents both opportunities and challenges for small business owners. On one hand, access to advanced tools can streamline financial operations and provide invaluable insights. On the other hand, navigating these technologies ... Read more
- [Get Ready to File Your P11d in July](https://mckenziesgroup.com/2024/06/18/get-ready-to-file-your-p11d-in-july/): Get Ready to File Your P11d in July As a business owner, staying on top of your financial obligations is paramount. One such obligation is the filing of P11d forms, a crucial element in tax filings for businesses in the UK. With the deadline approaching in July, it’s time to ensure you’re well-prepared. This blog provides you with a detailed guide on P11d filing. Let’s take a closer look at this essential aspect of tax compliance and help you avoid any potential pitfalls. What is a P11d Form, and Why is it Important? The P11d form is used to report ... Read more
- [McKenzies Joins Bailey Ahmad Holdings](https://mckenziesgroup.com/2024/06/05/mckenzies-joins-bailey-ahmad-holdings/): McKenzies Joins Bailey Ahmad Holdings We are delighted to announce that McKenzies is now part of Bailey Ahmad Holdings Group. Strengthening Our Offering Bailey Ahmad Holdings leads a group of professional service businesses providing Commercial Finance, Debt Recovery, Credit Control, and Insolvency Solutions to entrepreneurs and their businesses, all under the BABR brand. Founded by Paul Bailey and Tom Ahmad in 2007, BABR’s team now spans the UK, delivering tailored cash flow solutions to businesses in line with their shared values: Impact, Authenticity, Courage, and Trust. Established in 1977, McKenzies has grown over the past 40+ years into a forward-thinking, ... Read more
- [The Strategic Advantage of Outsourcing Your Payroll](https://mckenziesgroup.com/2024/05/28/the-strategic-advantage-of-outsourcing-your-payroll/): The Strategic Advantage of Outsourcing Your Payroll In the fast-paced business world, efficient management of resources can be the difference between success and stagnation. One area where this becomes particularly evident is in the handling of payroll operations. The question then arises: Should you keep this essential function in-house, or is there merit to outsourcing it to an accountancy firm? For many businesses, the latter option is increasingly becoming not just a solution but a strategic advantage. Why Consider Payroll Outsourcing? Payroll outsourcing involves entrusting your payroll processes to a third-party provider, typically an accountancy firm with expertise in payroll ... Read more
- [How to Thrive in Turbulent Times: SMEs and the Role of Accountants](https://mckenziesgroup.com/2024/05/15/how-to-thrive-in-turbulent-times-smes-and-the-role-of-accountants/): How to thrive in turbulent times: SMEs and the role of accountants Navigating the ebbs and flows of today’s dynamic market can be a challenge for small and medium-sized enterprises (SMEs), but did you know that an accountant’s expertise extends far beyond tax preparation and can be a pivotal factor in your business’s success?  Here are 5 ways an accountant can help your business.   1. Strategic Financial Planning Have you considered all the ways that strategic financial planning can secure the future of your business? An accountant is not just a number-cruncher; they are strategic advisors who can analyse your ... Read more
- [Outsourcing Vs DIY Accounting: Which is the best choice for your business?](https://mckenziesgroup.com/2024/04/22/outsourcing-vs-diy-accounting-which-is-the-best-choice-for-your-business/): Outsourcing Vs DIY Accounting: Which is the best choice for your business? As a business owner, there are several tasks that require your attention to keep your business running smoothly, and accounting is one of them. While most business owners have some basic understanding of accounting, trying to do it all yourself can be a daunting task. Here, we take a look at the benefits of outsourcing your accounting needs and how it can help save you both time and money. Time saving Outsourcing can provide you cost savings in the long-run compared to employing a member of staff and ... Read more
- [Budgeting and Forecasting for Business Owners](https://mckenziesgroup.com/2024/03/18/budgeting-and-forecasting-for-business-owners/): Budgeting and Forecasting for Business Owners Navigating financial waters can be complex, yet it is essential for steering your business towards long-term success. Budgeting and forecasting emerge as your trusted lighthouses, illuminating the path to financial stability and growth. But what exactly are these processes and how can they benefit your business? About Budgeting and Forecasting In the simplest terms, budgeting and forecasting are about planning and predicting your business’s financial future. A detailed understanding of these practices can be the lever for prosperity and security. With budgeting, you allocate your expected income to various business expenses, which provides a ... Read more
- [Spring Budget Breakdown](https://mckenziesgroup.com/2024/03/06/spring-budget-breakdown/): Spring Budget Breakdown The Chancellor of the Exchequer, Jeremy Hunt, has unveiled new financial measures in today’s Spring Budget announcement. With a clear focus on tax relief and investment incentives, the statement seems to steer the nation towards a more buoyant economic landscape. But what does this mean for you?   More Money in Your Pocket, But Is It Enough? The announcement made significant waves with a further reduction in National Insurance for workers, down an additional 2p from 10% to 8%. A reduction already seen in the previous Autumn Statement. This move places more earnings back into the pockets of ... Read more
- [Tips To Increase Productivity For Small Businesses](https://mckenziesgroup.com/2024/02/21/tips-to-increase-productivity-for-small-businesses/): Tips to increase productivity for small businesses In the ever-competitive arena of entrepreneurship, small business owners find themselves continuously managing countless tasks. Often, these juggling acts can turn into a productivity circus, with time and resources spread too thin, leaving little room for growth, innovation, or indeed, the invaluable personal time you as a business owner deserve. This article isn’t just about improving productivity; it’s about tightening that business belt and reclaiming efficiencies without sacrificing quality or team morale. Leveraging the power of productivity Productivity isn’t just a buzzword; it’s the cornerstone on which successful businesses are built. For small ... Read more
- [A Small Business Guide To Cashflow](https://mckenziesgroup.com/2024/02/07/a-small-business-guide-to-cashflow/): A small business guide to cashflow Navigating the financial ebbs and flows of running a small business can feel like steering a ship through a stormy sea. Cashflow, the lifeblood of any enterprise. is a topic often drenched in uncertainty and complexity. For small business owners, mastering the art of cashflow management is not just about sustainability; it’s about seizing opportunities and facilitating growth.   In this guide, we will run through practical strategies to fortify your financial hull, ensuring that even in the choppiest waters, you can stay afloat and chart a course to success.  Understanding cashflow  The journey begins ... Read more
- [5 Ways Outsourcing Payroll To An Accountancy Firm Can Boost Business Growth](https://mckenziesgroup.com/2024/02/01/5-ways-outsourcing-payroll-to-an-accountancy-firm-can-boost-business-growth/): 5 Ways outsourcing payroll to an accountancy firm can boost business growth Running a business is no easy feat, and as a business owner, there are several critical components that you need to manage, such as marketing, operations, sales, and bookkeeping. One of the most significant and cumbersome tasks is payroll management. Handling payroll requires a considerable portion of a person’s time, and when mismanaged, it poses a significant risk to the business.   In this blog, we explore five ways that outsourcing your payroll to an accountancy firm can save you time and boost your business growth.  Accurate tax filing ... Read more
- [Top Tips For Business Growth](https://mckenziesgroup.com/2024/01/15/top-tips-for-business-growth/): Top tips for business growth Growing your business is an essential part of ensuring its longevity. However, achieving this is no easy feat. There are many factors to consider, including marketing, financial management, and customer engagement. But the good news is, you don’t have to do it alone. In this article, we’ll be sharing some valuable tips for small business owners on how to grow their businesses sustainably and successfully. Understand your customers Understanding your customers is crucial to the growth and success of your business. Not only will this help you to identify any problems they may be having, ... Read more
- [Merry Christmas and a Happy New Year!](https://mckenziesgroup.com/2023/12/15/christmas-office-hours-2023/): Merry Christmas and a Happy New Year Office hours The McKenzies office will be closed from 1pm on Thursday 21st December until Tuesday 2nd January 2024. We look forward to catching up with you in the new year.
- [Top Tips For Making Your Business Successful in 2024](https://mckenziesgroup.com/2023/12/05/top-tips-for-making-your-business-successful-in-2024/): Top tips for making your business successful in 2024 As we move towards 2024, it’s becoming increasingly important for business owners to start thinking about their strategy for the upcoming years. With so much uncertainty, it’s essential to have a solid plan in place to help your business not only survive but thrive. In this blog post, we take a look at some of the top tips for making your business successful in 2024 and beyond. Whether you’re just starting out or have been in business for years, there’s always room to improve and grow.  Embrace technology: In the modern ... Read more
- [5 Essential Accounting Tips For Business Start-ups in 2024](https://mckenziesgroup.com/2023/11/29/5-essential-accounting-tips-for-business-start-ups-in-2024/): 5 Essential accounting tips for business start-ups in 2024 Starting a new business requires a combination of hard work, dedication, and knowledge. As a business owner, one of the essential aspects that you need to be on top of is accounting. Proper accounting forms the foundation of any successful business. It is crucial to have a solid understanding of your finances, with timely and accurate reporting of income and expenses. That said, accounting can be a challenging task, particularly for start-up companies, but by following some straightforward tips, you can stay ahead of the game. This article covers the top ... Read more
- [Planning a staff Christmas party? Understand the tax implications as a business owner](https://mckenziesgroup.com/2023/11/13/planning-a-staff-christmas-party-understand-the-tax-implications-as-a-business-owner/): Planning a staff Christmas party? Understand the tax implications as a business owner With the festive season right around the corner, many businesses are organising their annual staff Christmas parties. However, one critical aspect that often gets overlooked is the tax implications of hosting such an event. As a business owner, you need to understand the rules and regulations regarding staff party expenses to avoid unnecessary tax liabilities. In this blog, we’ll guide you through the legal requirements of hosting a staff Christmas party and the tax implications involved. Can you cover staff Christmas party expenses? The good news is ... Read more
- [Maximising business potential with Mckenzies Accountants](https://mckenziesgroup.com/2023/10/17/maximising-business-potential-with-mckenzies-accountants/): Maximising business potential with Mckenzies Accountants For any business, careful financial forecasting and budgeting are essential steps to reaching their full potential. Proper management of finances ensures that businesses can set benchmarks, predict market trends, and make sound decisions when unexpected changes occur. However, not every business has the expertise to leverage financial forecasting and budgeting to their advantage. This is where McKenzies Accountants comes in.  With over 45 years of experience helping businesses achieve their financial goals, McKenzies Accountants provide tailor-made solutions for businesses across a range of sectors. Our team of accounting experts works closely with business owners ... Read more
- [Navigating your financial journey: How we help business owners](https://mckenziesgroup.com/2023/10/12/navigating-your-financial-journey-how-we-help-business-owners/): Navigating your financial journey: How we help business owners As a business owner, it’s essential to have a clear understanding of your financial journey. From managing cash flow to navigating tax and regulations, there are many challenges that come with running a successful business. Our mission is to help our clients navigate their financial journey to their chosen destination. Here, we discuss how we help business owners through the complex world of finance and accounting. Proactive approach The best way to reach your financial destination is through a proactive approach with your accountant. We take the time to understand your ... Read more
- [Unlock your business’s potential working with a professional bookkeeper](https://mckenziesgroup.com/2023/09/19/unlock-your-businesss-potential-working-with-a-professional-bookkeeper/): Unlock your business’s potential working with a professional bookkeeper As a business owner, you already know how important it is to keep your financial records accurate and up to date. But as you try to juggle multiple roles in your business, it can be challenging to keep up with your bookkeeping. That’s where a professional bookkeeper comes in. By outsourcing your bookkeeping needs, you can free up time to focus on your business’s core functions. In this article, we explore some of the benefits of working with a professional bookkeeper for small business owners. Save time and reduce stress: When ... Read more
- [Starting a business? Here's our top tips](https://mckenziesgroup.com/2023/09/04/starting-a-business-heres-our-top-tips/): Starting a business? Here’s our top tips Starting your own business can be an exciting, yet daunting, task. There are many factors to consider such as financing, marketing, and legal requirements. It’s important to have the right guidance and support to ensure success. That’s where McKenzies Accountants come in! With years of experience helping businesses start up and flourish, we have some vital advice to share with those considering embarking on their own entrepreneurial journey. Choose your business structure wisely Before you start your business, you need to choose a structure that suits your specific business needs. There are several ... Read more
- [Annual Accounts: The benefits of working with an accountant](https://mckenziesgroup.com/2023/07/27/annual-accounts-the-benefits-of-working-with-an-accountant/): Annual Accounts: The benefits of working with an accountant Running a business can be a challenging task, and amidst all the hustle and bustle, one of the most important tasks that cannot be ignored is preparing annual accounts. These financial records give a clear picture of your business’s overall financial health, enabling you to make informed decisions. In this article, we take a closer look at the importance of annual accounts and how our team of accountants can help your business thrive. Annual accounts preparation Preparing annual accounts can help you gain a comprehensive overview of your company’s financial position, ... Read more
- [Making payroll simple with McKenzies PAYE Health Check Service](https://mckenziesgroup.com/2023/07/10/making-payroll-simple-with-mckenzies-paye-health-check-service/): Making payroll simple with McKenzies PAYE Health Check Service Managing payroll can be complex, and it’s important to ensure that it’s operating perfectly for your business. From national insurance advice to adhering to regulations, McKenzies PAYE Health Check Service can help you with every aspect of your current payroll setup. Identifying the issues It’s important to identify any potential errors, making sure that all payments are accurately processed and that tax and national insurance contributions are correctly calculated. Our PAYE Health Check can help your business minimise the risks associated with incorrect PAYE setup, so you can concentrate on other ... Read more
- [Tax tips every small business owner needs to know](https://mckenziesgroup.com/2023/06/28/tax-tips-every-small-business-owner-needs-to-know/): Tax tips every small business owner needs to know Given the many regulations, and deadlines you have to comply with, it’s only natural to feel overwhelmed. However, with the right information and strategies, you can successfully navigate submitting your tax, avoid common mistakes, and make the most of your deductions. Here, we share tax tips that every small business owner needs to know now to help you streamline your tax preparation and maximise your savings. Our tax advice Keep detailed records of your expenses. One of the most important things you can do to prepare for your taxes is to ... Read more
- [Questions every start-up business owner should ask to help prevent failure](https://mckenziesgroup.com/2023/06/21/questions-every-start-up-business-owner-should-ask-to-help-prevent-failure/): Questions every start-up business owner should ask to help prevent failure Starting a business is an exciting time that is full of promise and hope. However, the daunting statistic that 20% of start-ups fail in the first two years and just over half make it past five years*, highlights the challenging terrain business owners need to navigate. One of the biggest challenges entrepreneurs face is working alone in the initial phase of business. You are expected to make several decisions on your own and ensure everything runs smoothly. Sometimes, business owners feel so overwhelmed it can lead to business failure. ... Read more
- [Corporation tax return deadline is approaching](https://mckenziesgroup.com/2023/06/12/corporation-tax-return-deadline-is-approaching/): Corporation tax return deadline is approaching If you own a limited company or you’re responsible for managing its finances, you need to be aware of the upcoming deadline for submitting your corporation tax return for the year ended 30th September 2022. The deadline for payment is on 1 July 2023, and it is vital that you comply with it to avoid incurring penalties and interest from HM Revenue & Customs (HMRC). The filing deadline for a corporation tax return (CT600) is 12 months from the period end. So, for the year ending 30th September 2022, you have until 30th September ... Read more
- [Why you should be an early adopter of Making Tax Digital](https://mckenziesgroup.com/2023/06/06/why-you-should-be-an-early-adopter-of-making-tax-digital/): Why you should be an early adopter of Making Tax Digital For years, tax returns and paperwork have been a dreaded task for many businesses and individuals. This is where Making Tax Digital, from HM Revenue & Customs (HMRC), comes in. The government initiative requires businesses to maintain digital records of their income and expenditure and submit quarterly reports to HMRC. This initiative will soon require self-employed individuals and landlords with an income of over £50,000 to switch from manual submissions to keeping digital records using software that can link securely with HMRC systems. In this article, we’ll delve into ... Read more
- [Strategies for sustained growth - Tips for business owners](https://mckenziesgroup.com/2023/05/23/strategies-for-sustained-growth-tips-for-business-owners/): Strategies for sustained growth – Tips for business owners It’s no secret that growing a business takes hard work, dedication, and a strategic plan. However, with so many options and approaches, it can be challenging to know where to start. That’s why McKenzies Accountants have compiled our top tips on how to grow your business effectively and sustainably. Whether you run a small startup or are looking to expand an established business, our tips will help you develop the strategies you need to achieve success. Focus on your niche market One of the most effective ways to grow your business ... Read more
- [The top 3 benefits of working with a professional bookkeeper](https://mckenziesgroup.com/2023/05/09/the-top-3-benefits-of-working-with-a-professional-bookkeeper/): The top 3 benefits of working with a professional bookkeeper Running a small business is no easy feat, especially when it comes to all the financial aspects involved in keeping it afloat. From bookkeeping to managing payroll, keeping abreast of tax regulations and maintaining accurate financial records, it’s an uphill battle for many business owners. If you’re feeling overwhelmed with the number of tasks to complete in your business, it’s time to start thinking about outsourcing your bookkeeping needs. In this article, we’ll explore the top three benefits of outsourcing for small business owners in the Croydon and the surrounding ... Read more
- [Avoid Overpaying VAT - Get a Professional VAT Health Check Now!](https://mckenziesgroup.com/2023/04/27/avoid-overpaying-vat-get-a-professional-vat-health-check-now/): Avoid Overpaying VAT – Get a Professional VAT Health Check Now! As a business owner, you may find that your VAT returns can be a frustrating task. Understanding VAT rates and regulations can be complicated, leaving you unsure if you are paying too much tax without realising it. That’s why McKenzies Accountants has developed a VAT Health Check service that can help ensure you are not overpaying on VAT, giving you peace of mind that your business accounts are correct and up to date, allowing you to focus on running your business.  VAT explained VAT is imposed as a percentage ... Read more
- [MTD and the Top Software Solutions to Help You Comply](https://mckenziesgroup.com/2023/04/19/highlight-the-key-solutions-xero-and-quickbooks/): MTD and the Top Software Solutions to Help You Comply The date for Making Tax Digital (MTD) for Income Tax Self-Assessment may have recently been pushed back to April 2026, so rather than think it will be delayed again, it makes sense to prepare now and implement changes that will only benefit your business in the long run.   MTD has been developed to improve accuracy of tax returns, reduce administrative burdens and increase efficiency. One of the key elements of MTD is using appropriate software solutions compatible with HMRC. Here, we look at two of the popular software solutions ... Read more
- [5 reasons why outsourcing payroll can save you time and money](https://mckenziesgroup.com/2023/04/05/5-reasons-why-outsourcing-payroll-can-save-you-time-and-money/): 5 reasons why outsourcing payroll can save you time and money As a business owner, you know the complexities of managing payroll and sometimes how overwhelming it can be. As a business owner, you know the complexities of managing payroll and sometimes how overwhelming it can be. With ever-changing tax laws and regulations, it’s essential to keep up with all rules and guidelines. Outsourcing payroll services is an efficient way to manage your company’s finances, without having to worry about maintaining accurate records in-house. Not only does outsourcing allow for compliance assurance, but it also saves valuable time and money ... Read more
- [Overcome common mistakes in Construction Industry Scheme invoicing](https://mckenziesgroup.com/2023/03/29/overcome-common-mistakes-in-construction-industry-scheme-invoicing/): Overcome common mistakes in Construction Industry Scheme invoicing If you’re in construction, then you know that invoicing can be a bit tricky. As such, it’s important to understand the ins and outs of the Construction Industry Scheme (CIS) invoicing, as mistakes can lead to costly consequences. This article will discuss some of the more common CIS invoicing mistakes, and how working with an experienced accountancy firm can help ensure that you don’t end up overpaying VAT. Prevent the common CIS invoicing mistakes 1. Invoice with the correct details One of the most common CIS invoicing mistakes is not including all ... Read more
- [The benefits of outsourcing your financial director role](https://mckenziesgroup.com/2023/03/20/the-benefits-of-outsourcing-your-financial-director-role/): The benefits of outsourcing your financial director role When running a small business, it’s often difficult to justify the cost of having your own Financial Director. This is where outsourcing your Financial Director role to an accounting firm can be beneficial. By working with a team of professionals, you gain the expertise that can help take your business to the next level. Here are some reasons why outsourcing your financial director role might be the right move for you. Highly qualified professionals When you work with an accounting firm, you’re getting access to highly qualified professionals who are experienced in ... Read more
- [The Spring budget summary](https://mckenziesgroup.com/2023/03/16/the-spring-budget-summary/): The Spring budget summary The Chancellor of the Exchequer, Jeremy Hunt, today announced the Spring budget to a packed Houses of Parliament. Here are some of the key points from the Spring budget.   Corporation tax For businesses making a profit of more than £250,000, Corporation Tax will rise this April to 25% up from 19%. Full expensing Full expensing from 1 April 2023 until March 2026 with an extension of the first year allowance of 50%. This is worth £27billion to businesses over 3 years. Research & Development Small or medium-sized businesses can benefit from Research & Development (R&D) ... Read more
- [The benefits of outsourcing your accounting](https://mckenziesgroup.com/2023/02/28/the-benefits-of-outsourcing-your-accounting/): The benefits of outsourcing your accounting Being a small business owner can be a journey full of exciting experiences, but it also comes with a lot of responsibilities. You have to manage your employees, make sure your customers are happy and satisfied, and oversee the financial side of your business. Doing all this can sometimes be overwhelming and time-consuming, especially when it comes to managing your finances. That’s why outsourcing accounting services is such a great option for small businesses. Not only will it free up time for you to focus on other aspects of running a successful business, but ... Read more
- [Get ahead of the curve - Prepare for Making Tax Digital now](https://mckenziesgroup.com/2023/02/20/get-ahead-of-the-curve-prepare-for-making-tax-digital-now/): Get ahead of the curve – Prepare for Making Tax Digital now Making Tax Digital (MTD) is a government initiative that requires businesses to maintain digital records of their income and expenditure and submit quarterly reports to HMRC. From April 2026, self-employed individuals and landlords with an income of over £50,000 will be required to keep digital records as well as providing HMRC, through MTD compatible software, quarterly updates on their income and expenditure. People can voluntarily join at any time. As the MTD deadline is all about helping to prevent common errors it could be the time saving and ... Read more
- [How to know when it's time to outsource your bookkeeping](https://mckenziesgroup.com/2023/01/30/how-to-know-its-time-to-outsource-bookkeeping/): HOW TO KNOW WHEN IT’S TIME TO OUTSOURCE YOUR BOOKKEEPING Are you a small business owner? Are your bookkeeping needs growing faster than your capacity to handle them? Are you feeling overwhelmed by the idea of trying to keep on top of invoices, documents and accounts? If so, it may be time for you to consider outsourcing some or all of your bookkeeping. While at first glance this might seem like an intimidating prospect, it’s actually much simpler than you think – and definitely more manageable! In this article, we’ll provide an overview of the signs that indicate it might ... Read more
- [The 8 best tips for growing your business](https://mckenziesgroup.com/2023/01/16/best-tips-for-growing-your-business/): THE 8 BEST TIPS FOR GROWING YOUR BUSINESS You want your business to be successful, and that means you need to grow it. But how do you know what steps to take? McKenzies Accountants are here to help. We’ve put together some of our top tips on how small business owners can grow their businesses in a sustainable and successful way. Keep reading for all the details! Understand your market The first step towards successful business growth is understanding your market. Before you can start expanding your business, you need to know who your customers are and what they want ... Read more
- [Mandatory use of Making Tax Digital for ITSA delayed](https://mckenziesgroup.com/2023/01/05/mandatory-use-of-making-tax-digital-for-itsa-delayed/): MANDATORY USE OF MAKING TAX DIGITAL FOR ITSA DELAYED The Government announced on 19 December 2022 that the transition for to Making Tax Digital for Income Tax Self Assessment (ITSA) has been delayed with mandatory use of MTD compatible software due to be phased in from April 2026, instead of April 2024 as previously written. From April 2026, self-employed individuals and landlords with an income of over £50,000 will be required to keep digital records as well as providing HMRC, through MTD compatible software, quarterly updates on their income and expenditure. Those with an income between £30,000 and £50,000 will ... Read more
- [Merry Christmas and a Happy New Year](https://mckenziesgroup.com/2022/12/20/merry-christmas-a-happy-new-year-2/): Merry Christmas and a Happy New Year We’d like to wish all our clients a very Happy Christmas and all the very best for a prosperous New Year! Office hours The McKenzies office will be closed from 1pm on Friday 23 December until Tuesday 3 January 2023. We look forward to catching up with you in the new year.
- [New HMRC app for Self-Assessment payments](https://mckenziesgroup.com/2022/12/19/new-hmrc-app-for-self-assessment-payments/): NEW HMRC APP FOR SELF-ASSESSMENT PAYMENTS With Christmas and the New Year celebrations almost here, for those needing to complete their Self Assessment this marks that the deadline to submit and pay your return is almost here.   The deadline is the 31 January 2023 or you may have to pay a penalty. So, completing your tax return sooner rather than later means you can spend more time enjoying the festivities. Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “We are encouraging customers to plan their Self-Assessment as they’d plan for Christmas – get organised, complete their to-do list with plenty ... Read more
- [Prepare for Making Tax Digital Now](https://mckenziesgroup.com/2022/11/29/prepare-for-making-tax-digital-now/): Prepare for Making Tax Digital Now Making Tax Digital (MTD) is set to commence from April 2024, meaning businesses and individuals will need to start preparing for the change now. While it might seem like a long way off, it’s actually less than 18 months away, and you don’t want to wait until the last minute to make sure you’re ready for MTD. Here, we discuss what MTD is, why it matters, and how you can begin getting your business ready for the change. What is Making Tax Digital? Making Tax Digital (MTD) is an HM Revenue & Customs (HMRC) ... Read more
- [Autumn Statement 2022 summary](https://mckenziesgroup.com/2022/11/18/autumn-statement-2022-summary/): Autumn Statement 2022 summary 17th November 2022: Today, the Chancellor of the Exchequer, Jeremy Hunt, announced the Autumn Statement with plans for “stability, growth, and public services”. Here we’ve rounded up a summary of some of the key points unveiled. Taxes Corporation Tax Reforms are due to be implemented by the OECD (Organisation for Economic Co-operation and Development) and agreed internationally which will make certain that multinational corporations pay their fair share of tax. Corporation Tax will increase to 25% from April 2023. Employer National Insurance Employer National Insurance contributions will be fixed until April 2028. Although the Employment Allowance ... Read more
- [All You Need to Know About Form P11D](https://mckenziesgroup.com/2022/11/15/all-you-need-to-know-about-form-p11d/): All You Need to Know About Form P11D As an employer, you are responsible for keeping track of any benefits or expenses paid to your employees that can’t be processed through payroll. This form, known as the P11D, is then sent to HM Revenue and Customs (HMRC) at the end of every tax year in order to calculate your National Insurance contributions. However, it’s important to note that not all benefits in kind are tax-free. In this article, we’ll outline what you need to know about the P11D form so that you can stay compliant with HMRC regulations. What is ... Read more
- [Self-Assessment tax return deadline approaching](https://mckenziesgroup.com/2022/11/08/self-assessment-tax-return-deadline-approaching-2/): Self-Assessment tax return deadline approaching If you complete a self-assessment tax return online, the deadline of 31 January 2023 is fast approaching. With only three months left to get your tax return filed with HMRC, taxpayers are encouraged to file their returns as early as possible to ensure that penalties are not incurred because the deadline is missed. What is a Self-Assessment Tax Return? A self-assessment tax return is for taxpayers who are self-employed or have other sources of untaxed income which must be declared to HM Revenue and Customs (HMRC). This includes income from renting out property, foreign earnings, ... Read more
- [The mini-budget – what’s changed?](https://mckenziesgroup.com/2022/10/17/the-mini-budget-whats-changed/): The mini-budget – what’s changed? Since the mini-budget announcement on 23rd September, there have been a lot of twists and turns so, you could be forgiven for not quite keeping up. Now in the latest chapter with the sacking of Chancellor Kwasi Kwarteng, we thought it would be a good time to summarise what’s changed since the initial announcement only a few weeks ago. The changes Corporation tax Having cancelled the planned rise in Corporation Tax next year in the September mini-budget, the Prime Minister Liz Truss has just announced that the UK corporation tax will increase from 19% to ... Read more
- [5 Financial roundabouts that can stifle growth](https://mckenziesgroup.com/2022/10/04/5-financial-roundabouts-that-can-stifle-growth/): 5 Financial roundabouts that can stifle growth As a business owner, it’s important to always be thinking about ways to grow your business. But, with so many financial moving parts to keep track of, it can be difficult to know where to put your focus in order to ensure that your business is growing in a healthy way. In this article, we’ll take a look at different financial roundabouts that can stifle growth and what you can do to avoid them. 1. Failing to budget and forecast One of the most common mistakes businesses make is failing to budget and ... Read more
- [The mini-budget summary](https://mckenziesgroup.com/2022/09/26/the-mini-budget-summary/): The mini-budget summary With the aim to boost growth, The Chancellor of the Exchequer, Kwasi Kwarteng, unveiled some of the biggest tax cuts seen since 1988 in his mini-budget on 23rd September 2022. This ‘mini-budget’ was set out by the Chancellor as the Bank of England warns that the UK may already be in a recession. The announcement is part of the Chancellor’s Growth Plan which is tackling high energy costs and inflation. Here is a summary of some of the key points from the mini-budget. Income Tax The basic rate of income tax cut from 20% to 19% from ... Read more
- [How to Keep Your Business on Track](https://mckenziesgroup.com/2022/09/20/how-to-keep-your-business-on-track/): How to Keep Your Business on Track You’ve done your research, you’ve drawn up a business plan, and you’re ready to take your small business idea and make it a reality. Congratulations! Now comes the hard part: making sure your business stays on track financially. That’s where budgeting and forecasting come in. Budgeting is simply about breaking down your income statement into categories for monthly, quarterly or yearly stats – the choice is yours. A budget will allow you to compare your actual results against those planned so that you can see whether or not your business is on track ... Read more
- [How businesses can make the most of tax reliefs](https://mckenziesgroup.com/2022/09/06/how-businesses-can-make-the-most-of-tax-reliefs/): How businesses can make the most of tax reliefs Tax reliefs are a great way for businesses to reduce their tax bill and free up some extra cash. However, many businesses are not taking full advantage of all the reliefs available to them. Some of the most common include research and development (R&D) tax credits, capital allowances and business rates relief. Each of these reliefs can help businesses to save money and invest in growth. However, it is important to ensure that you are claiming the right relief for your business. For example, R&D tax credits are only available for ... Read more
- [Why everyone needs an accountant on their financial journey](https://mckenziesgroup.com/2022/09/01/why-everyone-needs-an-accountant-on-their-financial-journey/): Why everyone needs an accountant on their financial journey Even the most well-organised individual can find it difficult to keep track of their financial standing without assistance. When business owners try to take on this responsibility alone, they often run into trouble. Often, the burden becomes too much and business owners give up. This is where an accountant can help you with your financial journey providing valuable insights that help you stay on track. Having an accountant by your side gives you the peace of mind that everything is under control and allows you to focus on what you do ... Read more
- [Sage software upgrades](https://mckenziesgroup.com/2022/08/10/sage-software-upgrades/): Sage software upgrades or migration support with minimal business disruption Accountancy and bookkeeping tool Sage has recently advised of a software upgrade as older versions are being phased out. For those using Sage, you must be aware of the changes to ensure your data security and communications is protected by implementing any necessary updates or migrating to alternative bookkeeping tools.   Many business owners use Sage for their bookkeeping and payroll to help digitalise their company and as companies get ready for Making Tax Digital (MTD). If you use Sage, then it’s important to take note of these changes to ... Read more
- [Benefit from outsourcing payroll to a team of experts](https://mckenziesgroup.com/2022/08/01/benefit-from-outsourcing-payroll-to-a-team-of-experts/): Benefit from outsourcing payroll to a team of experts You’ve set your business goals. Now it is time to work out the steps you need to take to get there. Looking for ways that can help you save time (both financial & personal), reduce stress levels by taking pressure off yourself and enable you to focus more clearly towards growing your businesses, outsourcing roles to experts in their field can help free up your time. Payroll is one such complex task that can be all consuming and vital to the running of your business. The importance of payroll for a ... Read more
- [Generate organic growth for your business](https://mckenziesgroup.com/2022/07/22/generate-organic-growth-for-your-business/): Generate organic growth for your business When it comes to launching a business, funding is often top of mind for many entrepreneurs. After all, most start-ups require some form of financial backing in order to get off the ground. However, it is important to note that funding is not always a prerequisite for success. There are plenty of businesses that have been able to launch and grow without any outside investment. Retaining control One of the key benefits of not having to seek funding is that you maintain full control over your company. This can be especially important when it ... Read more
- [Don’t ignore finances – protect against future shocks](https://mckenziesgroup.com/2022/07/15/dont-ignore-finances-protect-against-future-shocks/): Don’t ignore finances – protect against future shocks While many small businesses struggle with budgeting and paying bills, there is one thing that most can agree on: the cost-of-living crisis poses an existential threat to their survival (78%). But despite this focus on soaring costs, a recent survey found that small business owners still find themselves ignoring finances for fear of discovering how bad things really are with 25% refusing to look at what they’re doing with money because it may be worse than expected! The survey, conducted by PayPal, revealed that a quarter don’t even look at what’s coming ... Read more
- [MTD deadline reminder for all VAT-registered businesses](https://mckenziesgroup.com/2022/06/28/mtd-deadline-reminder-for-all-vat-registered-businesses/): MTD deadline reminder for all VAT-registered businesses It’s been a requirement from April this year for all VAT-registered businesses to ensure digital records are kept. This means that all VAT-registered businesses must sign up for Making Tax Digital (MTD) which is a key part of the government’s 10-year strategy to move towards a modern, digital tax service to help increase business productivity and provide better support for taxpayers. To ensure you avoid incurring any penalties for missing the deadline to sign up to MTD, HMRC has further guidance on the key dates for registering and when to keep digital records ... Read more
- [Overhaul of corporate reporting and audit regime](https://mckenziesgroup.com/2022/06/16/overhaul-of-corporate-reporting-and-audit-regime/): Overhaul of corporate reporting and audit regime The government has announced it will update the UK’s corporate reporting and audit regime through a new regulator. The Audit, Reporting and Governance Authority (ARGA) will replace The Financial Reporting Council (FRC). ARGA will be given tougher enforcement powers and it will be funded by a levy on industry. The creation of this new regulator will help reduce the risk of sudden big company collapses and help to safeguard jobs. Already, the Business Secretary is taking steps to enable the regulator to ban failing auditors from reviewing large companies’ accounts. This revamp of ... Read more
- [Tips for managing cashflow](https://mckenziesgroup.com/2022/06/08/tips-for-managing-cashflow/): Tips for managing cashflow Managing cashflow can be one of the biggest issues that start-ups and SMEs face. Whilst delivering services and products to your customers is the core priority, navigating the ongoing financial journey set against a turbulent economy could be the difference between success and failure for some. In this article, we take a look at ways to manage cashflow to assist you with forecasting and to help future proof your business against issues that may arise. Forecasting One of the most important things to monitor is forecasting to help achieve business and financial goals. Once goals are ... Read more
- [Don’t fall foul of IR35 rules](https://mckenziesgroup.com/2022/05/26/dont-fall-foul-of-ir35-rules/): Don’t fall foul of IR35 rules News reports indicate that the Government owes HMRC £263m in unpaid taxes due to non-compliance with IR35 rules. The article in the Telegraph goes on to say that public sector departments owed the back taxes for self-employed worker that were incorrectly assessed for the tax year 2020-2021. This is a timely reminder for all firms working with contractors and freelancers off-payroll to ensure that their tax status is determined correctly. IR35 off-payroll working rules Off-Payroll Working Rules came into effect from 6 April 2021. It means that all public authorities and medium and large ... Read more
- [SMEs - Benefit from financial support for your business](https://mckenziesgroup.com/2022/05/11/smes-benefit-from-financial-support-for-your-business/): SMEs – Benefit from financial support for your business The Government has announced a range of financial support available for small to medium sized businesses. Here’s a summary of tax relief that you could claim or discounts available enabling you to benefit from savings to help your business. Claim Employment Allowance If you’re a business and your employer Class 1 National Insurance liabilities were less than £100,000 in the previous tax year you are eligible to claim up to £5,000 as part of the Employment Allowance is a tax relief scheme. This in effect gives nearly half a million SMEs ... Read more
- [Marathon challenge for Keeley Walker](https://mckenziesgroup.com/2022/05/09/marathon-challenge-for-keeley-walker/): Marathon challenge for Keeley Walker Support our colleague Keeley Walker with her charity fundraising as she trains for the London Marathon Our colleague Keeley Walker has a huge task ahead of her this year as she trains to run the London Marathon in October. Everyone here at McKenzies is rooting for her as she will be running in aid of two charities. Cystic Fibrosis (CF) Slide Away Keeley’s chosen charities Keeley has chosen to raise money for these two important charities as they are very close to her heart. Keeley tells us more about why she has chosen to support ... Read more
- [Is it time to outsource your payroll?](https://mckenziesgroup.com/2022/04/13/is-it-time-to-outsource-your-payroll/): Is it time to outsource your payroll? Looking to save your business time, money, and stress? Perhaps it’s time to look at outsourcing your payroll system.  It’s always good to assess what changes you could make to your business strategy to help you hit those goals that you have set out to achieve. Reviewing whether you outsource payroll is an important part of the discussion. Payroll is such an important factor for a business to get right but doing it yourself also means it can be time consuming which takes you away from running your business and your business growth plans. A great exercise ... Read more
- [Reminder: National Insurance Increase April 2022](https://mckenziesgroup.com/2022/04/06/reminder-national-insurance-increase-april-2022/): Reminder: National Insurance Increase April 2022 From 6 April 2022 National Insurance contributions are set to increase by 1.25%. This increase is due to run until 5 April 2023 after which it will be replaced by 1.25% Health and Social Care Levy. The increase and revenue raised will be spent on NHS, health and social care in the UK. This applies to: For those over the State Pension age the increase in National Insurance will not apply, however they will have to pay the 1.25% Health and Social Care Levy when that is introduced. Employees National Insurance For those employed, ... Read more
- [Raising money for Hospices of Hope](https://mckenziesgroup.com/2022/03/29/raising-money-for-hospices-of-hope/): Raising money for Hospices of Hope Our colleague, Keeley Walker, will be donning her trainers on 3rd April to run the London Landmarks half marathon and raising money for Hospices of Hope in the process. After months of training, Keeley is keen to get her race shoes on and put all of her hard work into practice. Keeley has chosen to raise money for Hospices of Hope which is a leading palliative care charity in South East Europe which has pioneered services for children and adults with terminal and life-limiting illnesses for 30 years. The charity is now housing 40 ... Read more
- [2022 Spring Statement Summary](https://mckenziesgroup.com/2022/03/28/2022-spring-statement-summary/): 2022 Spring Statement Summary The Chancellor of the Exchequer, Rishi Sunak, unveiled his Spring Statement on 23rd March 2022. With prices rising 6.2%, the fastest for 30 years, the Chancellor has made cuts to help ease the cost of living demands placed on households. Key areas of the Government’s tax plan for the UK economy were highlighted by the Chancellor and are set to include: You can find the full details of the spring statement at GOV.UK Our advisory services at McKenzies Our accountants can help with your Tax Planning, Financial Forecasting And Budgeting. Working with our team of accountants, we can ... Read more
- [Is your business prepared for a Tax Investigation?](https://mckenziesgroup.com/2022/03/22/is-your-business-prepared-for-a-tax-investigation/): Is your business prepared for a Tax Investigation? With the HMRC reportedly launching over 137,000 tax investigations in the six months leading up to December 2021, perhaps now is the time to look at what a Tax Investigation Protection Services could offer your business. Tax investigations by HMRC are on the rise and this is likely to continue as more focus is placed on compliance activity as the government looks to recoup revenue severely impacted due to COVID. Government staff no longer working on pandemic activity are now able to concentrate on tax investigation. We would urge businesses to be ... Read more
- [5 important things that accountants help you with](https://mckenziesgroup.com/2022/03/14/5-important-things-that-accountants-help-you-with/): 5 important things that accountants help you with Accountants are an invaluable resource for business owners. They help businesses with a variety of tasks that allow them to focus on what they do best: running their business. It is important to hire the right accountant though because there are many different options out there. We’ve put together five things that accountants can help you with in order to get your finances in order and make sure deadlines are met on time! 1. Managing finances One of the most important things that accountants do is help manage a company’s finances to ... Read more
- [Extension of MTD for Income Tax Self-Assessment to businesses and Landlords](https://mckenziesgroup.com/2022/02/25/extension-of-mtd-for-income-tax-self-assessment-to-businesses-and-landlords/): Extension of MTD for Income Tax Self-Assessment to businesses and Landlords For those with business and/or property income over £10,000, the government has extended the requirement to operate Making Tax Digital (MTD). This impacts the 4.2m taxpayers who have businesses, are self-employed individuals and landlords who are chargeable to Income Tax. MTD for Income Tax Self-Assessment (ITSA) will now be introduced in April 2024. This is a year later than originally planned due to the challenges faced by many during the pandemic. What is Making Tax Digital (MTD)? MTD is a key part of the government’s 10-year strategy to move ... Read more
- [Get your budgeting on track for business success](https://mckenziesgroup.com/2022/02/10/get-your-budgeting-on-track-for-business-success/): Get your budgeting on track for business success As a business owner, we know that you’re passionate about your products and services and you want your business to grow. For business success, your budgeting and forecasts need to be on track so you can reach your financial goals.   Budgeting is simply about breaking down your income statement into categories for monthly, quarterly or yearly stats – the choice is yours. A budget will allow you to compare your actual results against those planned so that you can see whether or not your business is on track to achieve its ... Read more
- [UK consultation on implementation of global minimum Corporation tax](https://mckenziesgroup.com/2022/01/12/uk-consultation-on-implementation-of-global-minimum-corporation-tax/): UK consultation on implementation of global minimum Corporation tax The UK Government has published a consultation which is looking for views on how a worldwide 15% minimum corporation tax should be implemented in the UK (11 January 2022). In October 2021, there have already been over 130 countries signing up to this new global minimum. This followed G7 talks chaired by the Chancellor in London and agreement in principle. This new agreement will set a framework to help ensure that large international firms pay at least 15% tax rate on profits in each country they operate in. The aim is ... Read more
- [Self-Assessment tax return deadline 31 January 2022](https://mckenziesgroup.com/2022/01/05/self-assessment-tax-return-deadline-31-january/): Self-Assessment tax return deadline fast approaching For those that complete a self-assessment tax return online the deadline of 31 January 2022 is fast approaching.   Many taxpayers are encouraged to file their returns early if they have started owing money or fear they could be hit with penalties. However, those who are yet to complete it are advised to do so as soon as possible. There are schemes that some customers will need to incorporate into this year’s tax return. If you received grants, such as from your local authority or Eat Out to Help Out. Or perhaps you received ... Read more
- [Omicron: £1billion in support for businesses](https://mckenziesgroup.com/2021/12/22/omicron-1billion-in-support-for-businesses/): Omicron: £1billion in support for businesses The Chancellor of the Exchequer, Rishi Sunak announced on 21 December 2021 that £1billion additional support will be made available for businesses impacted by the Omicron variant sweeping through the country. Usually the busiest and most profitable time of the year for the hospitality sector, pubs and restaurants are already feeling the pressure that the new Covid strain has placed on them with many cancellations in the run up to Christmas.  Support available Hospitality and leisure sector businesses in England are eligible for one-off grants of up to £6,000 per premises. There will also ... Read more
- [Merry Christmas & a Happy New Year!](https://mckenziesgroup.com/2021/12/21/merry-christmas-a-happy-new-year/): Merry Christmas & a Happy New Year! We’d like to wish all our clients a very Happy Christmas and all the very best for a prosperous New Year! Office hours The McKenzies office will be closed from 1pm on Thursday 23 December until Tuesday 4 January 2022. We look forward to catching up with you in the new year, in the meantime have a wonderful Christmas!
- [Reporting your Full Payment Submission during the festive season](https://mckenziesgroup.com/2021/11/24/reporting-your-full-payment-submission-during-the-festive-season/): Reporting your Full Payment Submission during the festive season During the Christmas period many employers pay employees earlier than they would normally. For those businesses that do this, here is a timely reminder that you will need to report your normal payment date on your Full Payment Submission (FPS). Therefore, if you pay your employees the week before Christmas on 17‌‌‌ ‌December‌‌ ‌2021 because you close your office during the festive season, but the usual payment date is 31‌‌ ‌December‌‌ ‌2021, then you must report the payment date as ‘31‌‌ ‌December‌‌ ‌2021’. This helps to provide protection for your employees’ ... Read more
- [What Happens If You Miss Tax Return Deadlines?](https://mckenziesgroup.com/2021/11/23/what-happens-if-you-miss-tax-return-deadlines/): What Happens If You Miss Tax Return Deadlines? If you are a business owner, it is crucial to file your tax return on time. But what happens if you miss a deadline? Tax penalties can be costly and put your company in jeopardy. Read this blog post for insight into the consequences of missing tax deadlines and what steps you should take to prevent this. Missed deadlines You put your heart and soul into your business, so ensuring you meet tax deadlines is essential to keep your business going. Taxes can be missed for a variety of reasons. For example, ... Read more
- [Real Living Wage rises to £9.90 an hour](https://mckenziesgroup.com/2021/11/16/real-living-wage-rise/): Real Living Wage rises to £9.90 an hour The Real Living Wage, an independent calculation made according to the cost of living, rose on the 15 November 2021 to £9.90 per hour meaning an increase of 40p an hour for employees working for employers that have signed up to this voluntary scheme. The Real Living Wage rates apply to anyone over the age of 18 Employers in London who are part of the Real Living Wage initiative will now pay £11.05 an hour, an increase of 20p per hour. There are approximately 9,000 employers signed up to the initiative which ... Read more
- [How to grow your business](https://mckenziesgroup.com/2021/11/08/how-to-grow-your-business/): How to grow your business Starting a business is no small feat. It can be incredibly difficult to keep up with all of the logistics, paperwork, and planning that goes into it. While this might seem overwhelming at first, there are plenty of resources available to help you get started! In this blog we share some tips to help you grow your business start-up. Business start-up advice Starting a business can be an exciting and rewarding experience. However, it is also very time consuming and competitive. There are many things to consider before you start your own company, but by ... Read more
- [Budget October 2021](https://mckenziesgroup.com/2021/10/27/budget-october-2021/): Budget October 2021 The Chancellor of the Exchequer, Rishi Sunak, has today announced the Budget and Spending Review to a packed Houses of Parliament. Here’s a summary of some of the key announcements. Wages In real terms, wages have grown by 3.4% since February 2020. From 1 April next year, the National Living Wage will rise to £9.50 per hour up from £8.91. This is a 6.6% increase in the minimum wage for all those aged 23 and over. An additional £170 million will be invested in 2024-25 to increase the hourly rate for early years providers so that the ... Read more
- [Self-Assessment tax return deadline approaching](https://mckenziesgroup.com/2021/10/19/self-assessment-tax-return-deadline-approaching/): Self-Assessment tax return deadline is approaching For those that need to complete a self-assessment tax return, the 31 October 2021 deadline for completing paper forms is fast approaching. Those that complete their tax return online have until 31 January 2022. Whilst those who need to complete a paper return have a matter of days. We’d recommend that even if you are completing your tax return online to do so sooner rather than later. The reason being is that you still have until 31 January 2022 to pay what you owe. Finalising your self-assessment tax return early means you not only ... Read more

## Pages

- [Careers](https://mckenziesgroup.com/careers/): CAREERS Work with McKenzies Are you ready to kick-start your career or perhaps you’re looking for a change from your current role. Look no further! Our thriving accountancy practice, based in Oxted, Surrey, is always on the look out for motivated and enthusiastic individuals to join us at the firm. McKenzies was established in 1977 and has grown over the past 40 plus years to become a forward-thinking, modern firm with an enviable reputation for assisting a wide range of individual, commercial and professional interests. We are committed to delivering high-quality financial solutions while maintaining the highest standards of professionalism ... Read more
- [Legal](https://mckenziesgroup.com/legal/): Entities represented by this website McKenzies ATS Limited T/A McKenzies, Principal place of business at: 2 Station Road West, Oxted, Surrey, RH8 9EP. VAT No. 293 7314 39 McKenzies is registered to carry on audit work in the UK and is regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details of our audit registration can be viewed at Www.Auditregister.Org.Ukunder reference number C006236030. If a conflict of interest should arise, either between two or more of our clients, or in the provision of multiple services to a single client, we will take such ... Read more
- [Accessibility statement](https://mckenziesgroup.com/accessibility-statement/): Links Images Visual design Forms Scripting All pages use structured semantic markup. If you find any accessibility problems with our site, please contact us and we will do our best to fix them. Disability Discrimination Act To the best of our knowledge this site complies with the requirements of the British Disability Discrimination Act (DDA). If you require any assistance in reading or understanding this information please contact us.
- [Terms and Conditions](https://mckenziesgroup.com/terms-and-conditions/): This page (together with the documents referred to in it) tells you the terms of use on which you may make use of the website at https://mckenziesgroup.com (“our site”). These terms apply whether you use our site as a guest or a registered user. Use of our site includes accessing, browsing, or registering to use our site. Please read these terms of use carefully before you start to use our site. We recommend that you print a copy of this for future reference. By using our site, you confirm that you accept these terms of use and that you agree to comply ... Read more
- [Factsheets](https://mckenziesgroup.com/our-core-services/factsheets/): [rcContentWidget]
- [Advisory Services](https://mckenziesgroup.com/advisory-services/): Contact Our Team of accountants in Oxted, Surrey to discuss our compliance services. Our Advisory Services Budgets & Forecasts Monthly Quarterly Review Meetings Tax Planning Reviews Business Valuations VAT Health Checks PAYE Health Checks
- [Outsourcing Services](https://mckenziesgroup.com/outsourcing-services/): Contact Our Team of accountants in Oxted, Surrey to discuss our compliance services. Our Outsourcing Services Bookkeeping Payroll VAT Returns Company Secretarial Management Accounts Monthly Credits Set Up Of New Companies
- [Compliance Services](https://mckenziesgroup.com/compliance-services/): Contact Our Team of accountants in Oxted, Surrey to discuss our compliance services. Our Compliance Services Annual Accounts Audit Corporation Tax Partnership Tax P11ds Tax Investigation Protection Personal Tax Returns: Employment Tax Self-Employment Tax Capital Gains Tax Inheritance Tax
- [Testimonials](https://mckenziesgroup.com/testimonials/): Testimonials We were recommended to McKenzies Group back in the mid 80’s by our bankers, Lloyds. After a very unpleasant experience with our previous accountant and also a rather accrimonious exit, McKenzies Group set about putting together the financial controls to allow the business to grow. I am pleased to report that 30 years later we are still using McKenzies Group and they have grown with us, providing not only financial reporting but also a range of business advice worthy of any experienced non executive director. When approached by McKenzies, we were very reluctant to change accountants, especially as our ... Read more
- [The Team](https://mckenziesgroup.com/the-team/): OUR EXPERT TEAM Meet our wonderfully, passionate and enthusiastic team that make up Mckenzies DIRECTOR Colin McCoy (FCA) DIRECTOR Paul S Baker (FCA) SENIOR TAX MANAGER John Pullinger CLIENTS ACCOUNT MANAGER Ewa Sowinska (FCCA) CLIENTS ACCOUNT MANAGER Mandy Stannard (ACA) PAYROLL SUPERVISOR Rao Fahad CLIENT TAX MANAGER Anne Branson (CTA) MANAGEMENT CONSULTANT Tim Horsfall OFFICE MANAGER Gemma Clarke JUNIOR ACCOUNTANT Thomas McCoy
- [Our Firm](https://mckenziesgroup.com/our-firm-2/): OUR FIRM McKenzies was established in 1977 and has grown and moved with the times over the past 40 plus years as an accountancy practice with a reputation for assisting a wide range of individual, commercial and professional interests in navigating their financial journey. Over the past year, we have recognised that the traditional accountancy model is being disrupted by new technology driven methods of working, so we are working hard at re-inventing our proposition for our clients, to remain relevant in this fast-changing industry. Our first steps have been to become partners to Xero, QuickBooks online and Sage, so ... Read more
- [Our Philosophy](https://mckenziesgroup.com/our-philosophy/): OUR PHILOSOPHY Our philosophy is to be the best accountancy firm that we can be for our clients and team, and we achieve this by working to our values which are open, honest, innovative, trustworthy, competent and caring. Open:We will always act with integrity and objectivity when dealing with your affairs. In other words we won’t sugar coat any of the advice supplied on your journey, be it good or bad. Honest:Solid relationships can only be built on being honest with each other. We will therefore always be honest in our dealings with you, whether it be about our services ... Read more
- [Our Mission](https://mckenziesgroup.com/our-mission/): OUR MISSION Navigating your financial present, future and past.Present = outsourcing servicesFuture = advisory servicesPast = compliance services Our mission is to help our clients navigate their financial journey to their chosen destination.Everyone has a financial journey be it business or personal. We aim to help our clients by being proactive and guiding them through all the different compliance and advisory challenges on their journey. Whether your journey is for a particular lifestyle, generated from your business activities or you want to grow your business into the next Microsoft, we will help you navigate all the financial roundabouts, traffic lights, ... Read more
- [Resources](https://mckenziesgroup.com/resources/): [rcContentWidget]
- [McKenzies News](https://mckenziesgroup.com/mckenzies-news/): News Merry Christmas and a Happy New Year Merry Christmas and a Happy New Year • 15 December 2023 • Accounting, Business News Merry Christmas and a Happy New Year Office hours The McKenzies office will be closed from 1pm on Thursday 21st December until … Top tips for making your business successful in 2024 Top tips for making your business successful in 2024 • 5 December 2023 • Accounting, Running Your Business Top tips for making your business successful in 2024 As we move towards 2024, it’s becoming increasingly important for business owners to … 5 Essential accounting tips ... Read more
- [Contact](https://mckenziesgroup.com/contact/): CONTACT US Contact McKenzies If you are interested in using any of our services, we would love to hear from you. OFFICE ADDRESS 2 Station Rd WestOxtedSurreyRH8 9EP CONTACT NUMBER Tel:01883 717077Fax: 01883 712243 EMAIL ADDRESS Info@Mckenziesgroup.Com
- [Our Core Services](https://mckenziesgroup.com/our-core-services/): OUR CORE SERVICES Annual Accounts Annual Accounts Audit Audit Bookkeeping Bookkeeping Budgets & Forecasts Budgets & Forecasts Business Valuations Business Valuations Capital Gains Tax Capital Gains Tax Corporation Tax Corporation Tax Company Secretarial Company Secretarial Employment Tax Employment Tax Inheritance Tax Inheritance Tax Making Tax Digital Making Tax Digital Management Accounts Management Accounts Monthly Credits Monthly Credits Monthly Quarterly Review Meetings Monthly Quarterly Review Meetings P11ds P11ds Partnership Tax Partnership Tax PAYE Health Checks PAYE Health Checks Payroll Payroll Self-Employment Tax Self-Employment Tax Set Up Of New Companies Set Up Of New Companies Tax Investigation Protection Tax Investigation Protection Tax ... Read more
- [About Us](https://mckenziesgroup.com/about/): ABOUT US McKenzies was established in 1977 and has grown over the past 30 plus years to become a forward-thinking, modern firm with an enviable reputation for assisting a wide range of individual, commercial and professional interests. At McKenzies we pride ourselves on growing with our clients, identifying their needs, and providing an all-encompassing service which meets the changing face of business today. We are able to do this by maintaining contact with the market, ensuring our staff are fully trained, and providing a friendly client care service which is second-to-none, so clients return to us, time and time again. ... Read more
- [McKenzies Accountants Oxted](https://mckenziesgroup.com/): Your Business is our BusinessMcKenziesFocussed on your SuccessContact Us Friendly ServiceMcKenzies are here to helpAbout Us MckenziesTrusted locally for over 40 years About Us Support your business growthAbout Us Previous slide Next slide We offer a reliable service that helps add value to your business McKenzies was established in 1977 and has grown over the past 40 plus years to become a forward-thinking, modern firm with an enviable reputation for assisting a wide range of individual, commercial and professional interests. At McKenzies we pride ourselves on growing with our clients, identifying their needs, and providing an all-encompassing service which meets ... Read more
- [Privacy Policy](https://mckenziesgroup.com/privacy-policy/): Privacy Policy Important information and who we are  Purpose of this privacy notice  This privacy notice aims to give you information on how McKenzies ATS Ltd collects and processes your personal data through your use of this website, including any data you may provide through this website.  This website is not intended for children and we do not knowingly collect data relating to children.  It is important that you read this privacy notice together with any other privacy notice or fair processing notice we may provide on specific occasions when we are collecting or processing personal data about you so that you are ... Read more


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