Welcome to the Ellacott Morris Accountancy Blog – Your Gateway to Financial Clarity!

Discover simplified insights and expert advice on tax, accounting, and financial management. At Ellacott Morris, we're not just number crunchers; we're your partners in prosperity.

Explore articles tailored for businesses and individuals, covering tax-saving tips, accounting essentials, and the latest financial trends. We break down complex topics into straightforward steps, making finance accessible to everyone.

Our friendly team of accountants is here to empower you with the knowledge needed to make informed decisions. Stay ahead in the financial game with Ellacott Morris by your side.

Prosperity begins with understanding. Let's navigate the world of finance together – welcome to the Ellacott Morris Accountancy Blog!

Welcome Aboard!

Friday, November 10, 2023

When you become a client of Ellacott Morris, of which there are already over 500 happy businesses using our accountancy services, it starts an exciting journey.

So, when stepping aboard Ellacott Morris – here’s what to expect!

Case Study: Elementis

Thursday, November 9, 2023

As with many of our clients, a business associate recommended Grant at Elementis Boiler Experts to use our accountancy services. Grant was specifically looking for an accountant who used Xero cloud accounting software, having been unimpressed with other packages used by previous accountants that hadn’t met his needs.

Case Study: Frindec

Thursday, November 9, 2023

At Ellacott Morris, we pride ourselves on doing more than just providing accountancy services… We want to work in partnership with our clients to strengthen and grow their businesses, helping them go beyond their targets and making their lives less stressful.

Chris Pratt, founder and managing director of Frindec Ltd, provides a great example of how working with Ellacott Morris can be a life-changing experience…

Artificial Separation of a Business for VAT

Thursday, November 2, 2023

As accountants, we hear a lot of frequently asked questions, and this one is possibly in the top ten!

Also known as ‘disaggregation’ or ‘artificial separation’, if not done correctly and for legitimate reasons, HMRC class this as a form of tax avoidance.

Understanding Anti-Money Laundering (AML) Compliance at Ellacott Morris

Tuesday, October 17, 2023

At Ellacott Morris, we prioritise Anti-Money Laundering (AML) compliance to safeguard your financial interests. As licensed AAT accountants, we adhere to UK industry best practices, ensuring our AML responsibilities are at the forefront of our operations.

Navigating Directors Loan Accounts

Sunday, October 15, 2023

When directors use company funds, assuming it's their own, it can harm the business. Overdrawn director's loan accounts can lead to serious consequences. Directors must understand that just because the money is in the company's account, it doesn't automatically become their personal funds.

Accurate Bookkeeping is the Secret to Success

Monday, October 2, 2023

Running a small business can be both exhilarating and challenging. You have many responsibilities as an entrepreneur, and accurate bookkeeping might not be at the top of your priority list. However, it is crucial to recognise that maintaining precise financial records is the backbone of a successful small business.

Smart Money Moves: Why a Clear Line Between Business and Personal Expenses Is Key!

Sunday, September 10, 2023

For business success, keeping your business and personal finances separate is crucial. While it might be tempting to use your business account for personal expenses, it can lead to significant issues. Let's dive into why this separation is vital and the problems arising when the lines are blurred.

Xero and Dext Tutorials

Tuesday, January 31, 2023

At Ellacott Morris, we love making life easier for our clients. That’s why Olivia Adams, one of our incredible accountants, has put together a series of videos demonstrating some of the main functions within Xero and Dext. These videos are handy Xero tutorials, taking you through each process. Follow Olivia’s guidance, and you’ll enjoy even more time-saving and efficiency-improving features from our recommended software.

Unlocking VAT Refunds for Your Business – Ellacott Morris Guides You!

Thursday, September 29, 2022

Running a business means shelling out money before officially diving into VAT registration. These upfront expenses, aka "pre-registration VAT expenses," offer a silver lining – you can get back VAT on certain items by following a few rules.

Responsibilities of being a Sole Trader

Monday, August 9, 2021

If you choose to become a sole trader, you are your business. Your business isn’t a separate entity; therefore, any debts related to your business are your debts.

A sole trader arrangement is usually associated with ‘one-man (or woman) bands’ who work independently to offer their products/services.

There are lots of benefits to working in this way… Such as lower accountancy fees, less paperwork and added flexibility, to name but a few.

Pension Contributions

Thursday, June 3, 2021

As expert accountants, we understand the importance of pension contributions and the tax benefits that come with them. We can help you understand the tax relief you're entitled to based on your employment status, whether you're self-employed, the owner of a Limited company, or employed.

The Garden Office

Thursday, May 6, 2021

Building an office at the bottom of your garden can be an excellent solution if you're looking for a separate workspace. However, before you get started, it's crucial to understand the accounting and tax implications of having a garden office. While you can claim tax relief on furniture and equipment you put inside your office, claiming tax relief on the structure itself requires more work.

Make your Business more Account-able with our new Account-ability service…

Monday, January 1, 0001

What’s the most crucial element of your business? Your finances! A good understanding of your financial position and steady control of your numbers are vital to your business’s success. Poor cash flow can kill a company, bad debt can destroy a business… Therefore, it’s time to get more account-able! 

It’s Good to Give…

Monday, January 1, 0001

If your business can afford to give to charity, then it makes good business sense to do so. Not only are there tax benefits, but charitable giving also provides a whole host of other benefits to your business…