SMEs are the real backbone of the UK economy and are key to the nation's financial health. Anyone who runs an SME knows that there is a lot to stay on top of and plenty to sort out each day.

Business finance is certainly a crucial area and one that any business must get right to succeed. The problem for some business owners is that they do not have the time or skills to look after it themselves. While they could hire permanent staff to cover this, they come with associated costs SMEs might not want to take on.

Payroll has a reputation for being complicated and tedious for many, if not all, small business owners. It could be said that payroll is a waste of time since it takes away from growing your business – yet at the same time, it is incredibly important as it keeps employee morale high when wages are paid on time without error.

If managing your payroll is distracting you from running your business, here are some reasons why you should leave the payroll to the accountants.

Anyone who has worked from home during the pandemic may be eligible for tax relief up to £125 a year even working for one day from home.

Any business owner knows that there are many things to deal with when running a company. Finance and accounting certainly come high up this list. One key aspect of accounting you may need to tackle from time to time is an audit of your company's finances. This may be because you have received an audit notice from HMRC or choose to conduct your own internal audit. While you could try dealing with an audit alone, many organisations will hire audit support services to help. But why does this make sense?

When setting up a new business, there are a few ways to structure it. One popular option is to form a Limited Company. Many choose this to keep the legal liabilities of the business separate from the person who actually owns it. Forming as this sort of company does come with some specific requirements though. Year-End Accounts & Corporation Tax are high on this list and are something all Limited Companies must get to grips with. If you are new to owning a business though or do not have much experience with this type of company, it may seem daunting.