Agkika Limited

Check out the following accounting basics that are based on four different principles, each essential to nail the complexities of the domain. Outsourcing these critical accounting functions allows CA firms to enhance accuracy, ensure compliance, and focus on their core competencies. By leveraging the expertise of outsourcing partners, firms can reduce errors, save time, and ultimately improve their financial health and client satisfaction. Explore how outsourcing can transform your accounting processes and drive your firm’s success. Contact us at Agkika for tailored solutions that meet your unique needs. #Accounting #Outsourcing #CAFirms #FinancialServices #BusinessGrowth #Efficiency #CostSavings #Agkika

Ethics in Accounting – ICAEW vice-chair puts in his thoughts Ethics in accounting obviously is more than just crunching numbers. The profession upholds the sense of integrity, trust, and doing the right thing. Have you heard? The ICAEW's Ethics Advisory Committee has a new vice-chair, and they're not pulling any punches when it comes to upholding our profession's principles. With some high-profile disciplinary cases making headlines, it's no wonder we're under the microscope. But here's the thing - this scrutiny? It's actually a good sign. It shows that people care about what we do and how we do it. They want to trust us, and rightly so! We're the guardians of financial truth, after all. Now, let's be real for a second. Sometimes, we accountants get painted as the bad guys when things go south. But often, the root of the problem lies elsewhere - like poor management decisions. It's crucial we don't become scapegoats for issues beyond our control. So, what's the takeaway here? It's simple - we need to stay true to our ethical principles. At Agkika, we are all about being open, honest, and calling out any behavior that doesn't meet our high standards. We go beyond following rules or orders, embodying the spirit of integrity in everything we do. Remember, every time we uphold these principles, we're not just protecting our own reputation - we're strengthening the entire profession. We're in this together, folks! What are your views on ethics in accounting? How do you ensure you're always operating with integrity? Share your thoughts in the comments here! #AccountingEthics #IntegrityMatters #ProfessionalStandards #Agkika #ACCA #ICAEW #UKTaxation #Outsourcing

International Yoga Day Today, we celebrate the harmony and balance that International Yoga Day brings to our lives. Yoga isn’t just about physical well-being; it’s about mental clarity and inner peace—values that resonate deeply with our commitment to providing exceptional accounting services. At Agkika, we understand the importance of balance, both in life and in business. Just as yoga helps align mind and body, our team strives to bring balance and precision to your financial matters. To our esteemed clients and partners across the UK, we encourage you to take a moment today to breathe, stretch, and find your inner equilibrium. Let’s embrace the holistic benefits of yoga and carry its principles into our everyday lives, fostering a healthier and more harmonious community. Wishing everyone a peaceful and rejuvenating International Yoga Day! Namaste, The Agkika Team #InternationalYogaDay #Balance #Wellbeing #Agkika #AccountingServices #UK

Restarting Child Benefit Claims Starting 6 April 2024, the changes to the High Income Child Benefit Charge (HICBC) allows many couples to restart their child benefit claims. That is a major change that will impact families. Here’s why? The threshold increase means that couples with an income up to £60,000 won't face the full charge. The ones at the helm claim that it would benefit 180,000 couples approximately. Now that is a policy that will impact the financial planning for families positively. You need to review your eligibility to reclaim your child benefits. Will these changes affect your decision to claim child benefits? Let us know in the comments section below. #ChildBenefit #TaxUpdates #FamilyFinance #UKTax #FinancialPlanning #AgkikaKnowledge #AgkikaOutsourcing #Agkika #UKtaxation #TaxChanges #AgkikaFinance

Unlock the Right VAT Scheme for Your Business Navigating VAT schemes can be daunting, but choosing the right one can simplify your business operations. Let’s explore some common scenarios and find the best fit for your business. Imagine you run a small café with a turnover of £200,000. The Standard VAT Accounting scheme is likely your best bet. You’ll charge VAT on your sales and reclaim it on your purchases. This detailed record-keeping helps you track your exact VAT liabilities and ensure you stay compliant. Plus, submitting VAT returns quarterly keeps you on top of your finances. Now, consider you own a boutique with a turnover of £150,000. The Flat Rate Scheme might suit you better. Instead of calculating VAT on every sale and purchase, you pay a fixed percentage of your turnover. This not only simplifies your VAT calculations but also reduces your administrative workload, giving you more time to focus on your business. For businesses with fluctuating cash flow, the Cash Accounting Scheme can be a lifesaver. Picture a small construction company that often waits months for client payments. With this scheme, you only pay VAT when you receive payment, and you reclaim it when you pay your suppliers. This improves your cash flow management and ensures you’re not out of pocket while waiting for client payments. Choosing the right VAT scheme can transform your business’s financial health. Stay informed and make the choice that best supports your growth. #VAT #BusinessGrowth #Accounting #UKBusiness #UKVAT #VATscheme #Agkika #Knowledge #AgkikaOutsourcing #Outsourcing #UKtaxation #ValueAddedTax

Preparing for R&D Tax Relief Changes Since 1 April 2024, new changes to R&D tax relief have taken effect. Companies now receive a 20% expenditure credit for qualifying R&D activities, with expanded eligibility for subsidised expenditure. However, there is a point to note. Overseas R&D operations will only qualify if it cannot be conducted in the UK. This update is part of ongoing efforts to encourage innovation while ensuring proper scrutiny of claims. Is your business ready to adapt to these new R&D tax relief rules? #RDTaxRelief #Innovation #UKBusiness #TaxCredits #ResearchAndDevelopment #AgkikaKnowledge #Agkikataxes #Outsourcing #AgkikaOutsourcing #FinancialKnowledge #Agkika #UKTaxation #IFRS #IAS #Agkika

The Evolving Landscape of Anti-Money Laundering Compliance At the recent Festival of Accounting & Bookkeeping, anti-money laundering (AML) compliance was a hot topic. With heightened scrutiny from professional bodies and new regulations on the horizon, the challenge of managing AML is more prominent than ever. One key takeaway from the event was the proactive approach recommended by Rebecca Williams of Accounting Made Easy. Instead of viewing AML as a mere tick-box exercise, Williams suggests treating it as an opportunity to enhance client relationships and improve service quality. Charging clients for AML onboarding, she argues, not only ensures compliance but also transforms AML into a value-added service. The evolution of AML regulations now demands a deeper understanding of client activities and finances. This comprehensive approach not only meets regulatory requirements but also strengthens client trust and business integrity. The debate on whether to charge for AML administration continues, but it's clear that dedicating time and resources to AML can lead to better compliance and client service. What are your thoughts on integrating AML into daily practice? How do you manage the balance between compliance and client service? #AML #Accounting #Compliance #ClientService #BusinessIntegrity #Agkika #AgkikaAML #Antimoneylaundrring #OutsourcingServices #AgkikaOutsouricing #Compliance #AccountingServices #UKAccoutanting #UKTaxation #ACCA

Should You Use Cash Accounting? From 2024, “cash accounting” will become the default method for sole traders and partnerships. This approach is introduced to simplify the process of tax preparation. This method was initially introduced for businesses with turnover up to £300,000, but can now help more small businesses manage their finances more efficiently. Understanding whether to opt for cash accounting or the accruals basis is essential for accurate financial reporting and tax planning. Have you considered making this change and how it might impact your business? Comment below to air your thoughts. #CashAccounting #SmallBusiness #UKAccounting #TaxSimplification #FinancialManagement #Knowledge #TaxLaws #UKTaxation #Agkika #AgkikaOutsourcing

Stay Ahead of the Game Making a Smart Choice! 🏆 Imagine this… Your accounting firm is juggling multiple client demands, and your team is stretched thin. Deadlines are looming, and the pressure is mounting. Sound familiar? Did you know that firms using outsourcing services report a 30% increase in efficiency and a 20% reduction in operating costs? You need a dynamic and flexible accounting services firm to provide the relief you need. Staying ahead of the competition is crucial in this breakneck industry. Outsourcing can give you the edge to outpace the competition. Get rid of your block and delegate routine tasks to experts, so that you can focus on building client relationships instead. Experience timely service, quick turnaround times, and significant cost savings. Make the smart choice by promptly outsourcing ancillary accounting tasks today. Share your thoughts in the comments section below. #OutsourcingServices #UKAccountants #Accounting #EfficiencyBoost #Growth #SpecializedSkills #CompetitiveAdvantage #Agkika #AgkikaOutsourcing #AccountingServices

Revitalize Your Accounting Practice with Agkika! 🚀 Overwhelmed by endless tasks and tight deadlines? It's time for a major upgrade! Agkika is here to boost your operations and push your accounting firm into the fast lane! Outsource those time-consuming tasks to our elite team and watch your efficiency soar, costs drop, and focus sharpen. From precise bookkeeping to flawless tax compliance, our pros handle it all with pinpoint precision. Ready for takeoff? Partner with Agkika and watch your business reach new heights! Web: www.agkika.com Email: harsh.a@agkika.uk Schedule a call: https://lnkd.in/dkGHY6rH #AccountingExcellence #OutsourcingSuccess #Agkika #UKAccounting #Accountants