The CASS Knowledge Centre

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Most asked

Can an outsourced finance team replace an internal accounts department?A good outsourced finance team can cover bookkeeping, payroll, reporting, compliance and senior finance support without those roles being employed directly. For a growing SME, that can provide more breadth than one internal hire.Read the full answer

Do I need a bookkeeper and an accountant?Bookkeeping keeps the underlying financial records accurate and current. Accounting turns those records into statutory accounts, tax returns and other formal reporting.Read the full answer

Do I still need an accountant if I use Xero?Xero records, organises and reports financial data. An accountant checks the treatment, deals with tax and statutory obligations and helps interpret what the figures mean.Read the full answer

Do small businesses need management accounts?A small business doesn't automatically need a formal monthly management pack. The better question is whether the owner is making decisions that would be improved by current financial information.Read the full answer

Browse the library

Bookkeeping & XeroKeeping the records straight, and getting Xero doing the work it should.116 questions Tax, VAT & MTDWhat has to be reported, when, and what Making Tax Digital changes.186 questions Payroll & PensionsPaying people correctly, and the duties that come with it.45 questions Management Accounts & Cash FlowKnowing where the business stands, early enough to act on it.75 questions Outsourced Finance & Finance DirectorsWhen a business needs more than a bookkeeper, and what that looks like.32 questions Solicitors' & Conveyancers' AccountsClient account, the SRA Accounts Rules, the CLC Accounts Code and legal cashiering in practice.14 questions Working with CASSWhat it costs and what moves the price, how switching works, onboarding and the first 90 days, and who does the work.125 questions

Recently reviewed

Can I arrange a payment plan with HMRC, and what information will they need?You may be able to agree a Time to Pay arrangement with HMRC. They will want to understand what you owe, why you cannot pay and what you can realistically afford. Approval is not automatic, and interest normally continues on overdue tax.Read the full answer

Can I charge my company interest on money I’ve lent it?Yes, you can charge interest on money you lend your company. The company normally deducts basic-rate Income Tax from interest paid to you and accounts for it to HMRC using CT61. You report the gross interest and tax deducted as part of your personal tax position.Read the full answer

Every answer is written and reviewed by the CASS team.Who reviews them