Best Bookkeeping Practices for Small Businesses
Poor bookkeeping is one of the most common reasons small businesses run into cash flow problems, miss tax deadlines, and face unexpected bills.
Sterling & Wells
April 8, 2026
Meet the author
Sterling & Wells
We are Sterling & Wells — a UK-based team of accountants and tax advisors helping individuals and businesses stay fully HMRC compliant. From VAT and bookkeeping to self-assessments and tax planning, we’ve got your finances covered.
Voluntary VAT Registration: Pros and Cons
Voluntary VAT registration is the process of registering for VAT with HMRC before you are legally required to do so.
Sterling & Wells
April 6, 2026
How to Reclaim Input VAT?
Reclaiming input VAT is how the system ensures that VAT is ultimately borne only by the end consumer rather than by businesses in the supply chain.
Sterling & Wells
March 25, 2026
What You Need to Know About the VAT Flat Rate Scheme for Small Businesses?
For small businesses that are VAT-registered, calculating and accounting for VAT can be time-consuming.
Sterling & Wells
March 24, 2026
Where Do You Find Your Payroll Number?
A payroll number is a unique code that an employer assigns to each employee. Think of it like a staff ID for the payroll system.
Sterling & Wells
March 19, 2026
How to Set Up Payroll for a Small Business in the UK?
Setting up payroll correctly is essential for any small business in the UK. It ensures that employees are paid accurately, taxes and National Insurance contributions are reported on time
Sterling & Wells
March 19, 2026
What are the Penalties for PAYE Late Payment?
A single missed payment in a tax year costs nothing in percentage terms, but a pattern of late payments across the year can quickly push you into the 2%, 3%, or 4% penalty bands, on top of daily interest running at 7.75% per year.
Sterling & Wells
March 19, 2026
What are the UK Landlord Tax Changes 2026?
The most immediate change for many landlords is the introduction of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), which becomes mandatory from 6 April 2026.
Sterling & Wells
March 13, 2026
VAT on Hotels & Accommodation in the UK
The standard rate of 20% applies to most short-term accommodation, with the important 28-day reduced-value rule providing relief for long stays.
Sterling & Wells
March 12, 2026