The mistakes that cost the most
- Mixing personal and business. Without a separate account, costs are missed and the records become a puzzle.
- Not keeping receipts. No evidence means disallowed claims and overpaid tax. Photograph them as you go.
- Falling behind. A year of catch up in January leads to guesses and errors. A little each week is far easier.
- Not reconciling. If the books do not match the bank, something is missing or duplicated.
- Misrecording VAT. Wrong rates or reclaiming blocked items cause problems at return time.
Books feeling out of control?
Messy books cost you in tax and time. TaxTune sets up simple bookkeeping that takes minutes a week, keeps it reconciled, and turns it straight into accurate returns.
Let us keep your books straight
We keep your records tidy and reconciled year round, and turn them into optimised accounts and returns. Fixed fee, no January scramble.
Frequently asked questions
What is the most common bookkeeping mistake?
Mixing personal and business money. Without a separate business account, costs get missed, the records become hard to untangle, and tax is often overpaid.
Do I need to keep receipts?
Yes. Receipts are your evidence for expense claims. Without them HMRC can disallow costs, so photograph or scan them as you go and keep them for at least 5 years.
How often should I do my bookkeeping?
A little and often is far easier than a year of catch up. Reconciling monthly keeps errors small and gives you a clear picture of the business.
What does reconciling mean?
Matching your records to your bank statements so that every transaction is accounted for. If they do not agree, something is missing or duplicated.
Can poor bookkeeping cost me money?
Yes. Missed expenses mean overpaid tax, and errors can lead to wrong returns and penalties. Good books usually save far more than they cost to keep.