Benson Wood & Co Chartered Accountants

🍰 We are sad to say the first ever Benson Wood Bake Off is coming to an end. As sad as that is, it’s probably best for our teeth. 🦷 💙 This week, we are holding a coffee morning, which is also the perfect chance to donate to our charity, Scottish Huntington's Association! Everyone is welcome to come by the office to enjoy the treats and leave a donation, from 9 AM until lunchtime! 🍪 Cookies, tray bakes, brownies - almost anything goes this Thursday! And given that it is Halloween, we’re hoping for some spooky treats as well! Or at least pumpkin flavoured. 🎃 ✨ If you’d like to support Huntington’s but can’t join us at the office, please consider making a donation at the attached link. Even the smallest sum can make a difference!

🤔 Is it worth becoming a VAT-registered business? 🤔 ✔ Voluntary VAT registration can provide benefits to businesses of all sizes, but it might not be for you. Here’s what you should know before deciding: ❓ What is voluntary VAT registration? ❓ Small businesses with a turnover of less than the VAT registration threshold of £90,000 can choose to become VAT registered voluntarily before they are legally obliged to. 💪 How can it help you? 💪 - VAT can be reclaimed on most goods and services purchased from other businesses - Small businesses can give the appearance of being bigger and more established - Voluntary registration can be backdated by up to 4 years, so you might be able to reclaim VAT - It forces you to keep more accurate records which is beneficial to the running of your business ⏳ Why might you want to wait until you’re obliged? ⏳ - VAT can harm the appeal of goods/services to customers who are not VAT registered - You could end up with a large bill from HMRC if you generate more VAT from goods/services sold than the VAT you pay on goods/services bought - You’ll take on extra paperwork and administration: you’ll need to keep all VAT invoices and receipts, maintain VAT accounting records, and file VAT returns every quarter. ⚖ You should balance these pros and cons when you’re deciding whether to register voluntarily or wait until you have to – make a decision that makes sense for you. 📞 Need more advice? Get in touch and we’ll talk you through your options and advise you on the best option for your business. #VAT #VATRegistration #VoluntaryVATRegistration #VATRegistered #HMRC 

🤔 Did you know that there’s a Hall of Fame just for accountants? 💡 Since 1950, it’s been recognising individuals who have made significant contributions to the industry. 🧑💻 We think that our accountants at Benson Wood would fit right in with the 117 inductees – they’re always looking to advance their skills, ahead of the curve with accounting software, and extremely dedicated to helping our clients manage their accounting worries. 🏆 They’re worthy of a place in the Accounting Hall of Fame if you ask us! #Accountants #AccountingSoftware #AccountingHallOfFame

🍞🧁 It’s been a delicious couple of weeks here at Benson Wood with our Bake-off in full swing! And we have to say – we’re loving the creativity (and the homemade treats 😋). 👨🍳 Week 1 kicked off with bread – white bread, walnut and cranberry loaf, banana bread, and even a garlicky focaccia. Week 2 was all about muffins, and wow, did our team deliver! From fruity to chocolatey, and even savoury and cheesy, we’ve definitely been indulging. 🍫🤗 But it’s not just about the baking – the fun, laughter, and friendly competition make working here so special. We’re always looking for ways to bring the team together, and let’s be honest, nothing brings people closer than a bit of flour and sugar! And the best part? 🏅 We’ve been voting for our star baker each week, with more excitement on the way as Cake Week approaches. 🎂 At Benson Wood, it’s more than just work – it’s a team that values creativity, collaboration, and, of course, having a great time together. 🙌✨ What’s your go-to bake? Let us know in the comments, and maybe we’ll take some inspiration from your ideas!

We’re excited to announce we’ve achieved Good Business Charter accreditation!🌟 To achieve this, we've committed to all 10 GBC components, covering care for employees, suppliers, customers and the environment, while ensuring we pay our fair share of tax. This includes paying the real living wage, fair hours, employee well-being, representation, EDI, environmental responsibility, fair tax, customer commitment, ethical sourcing and prompt payment. With 97% of people valuing responsible business, GBC’s independent certification sets us apart as a leader in ethical capitalism. It’s a clear sign we put people first, attracting top talent and fostering loyal customers.🌍 Find out more about the #GoodBusinessCharter and join us in supporting responsible businesses👉goodbusinesscharter.com #accountants #business

📣 Calling all aspiring accountants 📣 🤔 Are you considering a career in accounting? 💡 Our Director John has shared two pieces of advice which we’re sure you’ll find valuable: 1️⃣ Embrace change and technology Technology in the accounting sector is moving at a rapid pace, with new software capabilities and the development of AI constantly changing how things are done. Stay on top of the updates and you’ll be well-placed to go far. 2️⃣ Start in general practice rather than industry Working in general practice is a brilliant way to hone your skills by working with clients from all walks of life. There are certainly a lot of challenges, but no two days are the same and you’ll learn things that you wouldn’t if you were working in-house. 🗨 Do you want to become an accountant? Let us know! ❓ And fellow accountants, what advice would you give? #BecomeAnAccountant #BecomingAnAccountant #CareerAdvice 

Proud to be an accredited #LivingWage employer 😊

🗨 Accounting is known for being an industry full of jargon. 🤯 From assets and liabilities to balance sheets and income statements, we know that understanding your finances can feel like trying to read a foreign language. 🤝 At Benson Wood, one of our promises to our clients is clear, jargon-free communication. We’ll always provide easily-understandable information and actionable plans so you know exactly what you need to do. 🤔 Are there any terms that have tripped you up before? Or maybe you’ve been on the other end where a technical term you’ve used has led to a client getting the wrong end of the stick? Let us know in the comments 👇 #Jargon #AccountancyJargon #Accountants

🧠 Today marks World Mental Health Day, and we want to know how you’re feeling. 😄 We hope you’re on top of the world! But if you’re not, there’s support out there – we love the ‘Mental Health at Work’ section on Mind's website for wellbeing tips and signs to look out for. 🤯 If you’re feeling the stress of managing your business, don’t forget that we can help relieve some pressure by taking care of your accounting responsibilities – just get in touch to find out how we can help you.

🧠 Next Thursday is World Mental Health Day, so what better time to share this infographic that the folks at Paycare sent to us. 🙋Our favourite tip is ‘asking for help’ – it’s something we always encourage the Benson Wood team to do. 🤝 We know that the demands of running a business can get overwhelming, so we want you to know that we’re only a phone call away if you need to ask us for help. Whether it’s taking care of your accounts, keeping you on the right side of HMRC, or simply providing a bit of business advice, we’re here for you. What’s your favourite tip? Do you have any of your own that you would add to the list? Let us know in the comments 👇 #WorldMentalHealthDay #MentalHealthAtWork #MentalHealth #WorkplaceWellbeing