5 ways to reduce your business carbon footprint

5 ways to reduce your business carbon footprint

A company’s carbon footprint is essentially the measure of how much greenhouse gas emissions the company is responsible for. This can be from the manufacturing and production of their products to the electricity and heat used in their offices, to employee travel. Large companies are increasingly becoming more aware and working to reduce business carbon footprint.

Reducing greenhouse gas emissions is critical to mitigating climate change. Some companies are also pledging to become carbon neutral, which means they will offset any greenhouse gas emissions they produce with measures that decrease or sequester emissions elsewhere.

There are many simple steps both big or small businesses take to help keep our environment clean- doing your bit for future generations is important!

#1. Go paperless

It’s 2022 and the earth is dying.

Okay, that might be a bit of an exaggeration, but the truth is that going paperless is not only more environmentally friendly, but it’s also more efficient and can save you time and money. Here are just a few reasons why Zyla Accountants chooses to go paperless:

  • It’s faster and easier to find information when it’s electronic
  • There are no filing cabinets or storage spaces necessary for paper documents
  • Electronic files can be password protected and/or encrypted for security purposes
  • Going paperless helps to reduce clutter and save space
  • It’s easier to track changes and revisions when everything is electronic

Here are two major tips on how to go paperless and reduce your carbon footprint:

  • Get organised. The first step is to declutter your office space and get rid of all the unnecessary papers. Scan or take pictures of important documents and store them in a digital format. This will make it easier to find what you need and help you stay organised.
  • Use cloud storage instead of physical files. Cloud storage is a great way to store your files securely online without taking up any physical space. You can access them from anywhere at any time with an internet connection.

#2. Start recycling properly!

One easy way is to make sure that you only print what you need, and opt for double-sided printing whenever possible. You can also recycle paper, plastic, metal, and glass materials from your office or workplace by using the appropriate recycling bins.

You can also compost organic waste like food scraps and yard trimmings to reduce your business’s waste output. Composting helps produce nutrient-rich soil that can be used in gardens and landscaping projects. And finally, you can install energy-efficient appliances and light fixtures to help reduce your business’s overall energy consumption.

#3. Work from home 

For starters, if you’re not commuting to and from work, that’s less gas being used. And if you’re working from home, you’re likely using less energy than if you were in an office–both in terms of electricity used for lighting and electronics, and also in terms of the heating or cooling required to make a workspace comfortable.

In addition, there are many online tools and services that can help reduce your business’s carbon output. For example, by using video conferencing instead of travelling for meetings, or by switching to paperless billing and communication, your business can significantly reduce its environmental impact.

#4. Change the structure of office lighting

There are a few ways businesses can power themselves with renewable energy in order to reduce their carbon footprint. 

One way is to install solar panels on the roofs of their buildings. Not only will this reduce the number of greenhouse gases emitted, but it will also save the company money on its energy bills. 

Another option is to switch to using solar shading and motion sensors that automatically turn off the lights. This may be more expensive in the short run, but it will save the company money in the long run and is better for the environment. 

#5. Minimise single-use plastic 

Here are a few ideas to get you started:

  • Bring your own reusable water bottle and coffee mug to work.
  • Use cloth shopping bags.
  • Avoid buying products that come in excessive packaging.
  • Request that your office switch to paperless billing and communication whenever possible.
  • Recycle all the plastic waste you produce at work.
  • Invest in some good quality, reusable food containers for packing your lunch or leftovers.

Closing note: 

At Zyla Accountants, we’re always looking for ways to reduce business carbon footprint and further environmental impact. That’s why we partnered with myFootprint to make sure our accounting practices are as green as possible.

We believe it’s important to do our part to protect the environment, and that’s why we’re committed to reducing our carbon footprint. We hope you’ll join us in this effort!

For more information, 

 

5 Common Tax Return Mistakes to Avoid This Tax Season

5 Common Tax Return Mistakes to Avoid This Tax Season

A tax return is a document that taxpayers in the UK are required to submit to HMRC (Her Majesty’s Revenue and Customs) every year. This document contains detailed information about the taxpayer’s income, expenses, and savings for the previous tax year. People who make tax return mistakes may be subject to penalties from HMRC.

These penalties can range from simple financial fines to imprisonment. For this reason, it is important that taxpayers take care when completing their tax returns and ensure that all of the information contained therein is accurate.

In this blog, we’ll walk you through the common tax return mistakes that taxpayers make and how to avoid them.

#1. Not keeping proper records

You should avoid this common tax return mistake. As it can lead to inaccurate reporting and potential penalties from the HMRC.

Accurate recordkeeping is critical for individuals and businesses. It helps to ensure that they are reporting their income and expenses accurately. 

Without accurate records, taxpayers may not have the documentation needed to support their tax return position if questioned by the HMRC. This can lead to an assessment of additional taxes, interest, and penalties. In addition, taxpayers who do not keep adequate records may find it difficult to recreate their tax situation when they face an audit.

#2. Employment Status 

The ‘gig economy’ is a recent term to describe the increasing trend in which people use freelancers and contractors for tasks. 

The gig economy is coming under increasing scrutiny from HMRC. Business owners need to make sure their freelancers are correctly self-employed in order not to risk having them taxed as employees.

#3. Not Leveraging Government Tax Allowance

The UK government offers tax allowances to citizens in order to help them reduce their taxable income. These allowances are a way to help people keep more of their hard-earned money. Also, they provide tax relief on specific types of income.

However, many people don’t take full advantage of these allowances because they don’t understand them or they’re confused about how to claim them. In addition, some taxpayers mistakenly believe that all or part of their allowance is automatically applied to their tax bill, when in fact it’s up to the individual taxpayer to claim the allowance.

So if you’re not sure whether you’re taking full advantage of your available allowances, it’s worth checking with an accountant or tax advisor. 

#4. Not paying your taxes before the deadline 

The deadline to file your tax return for the 2021/22 year is fast approaching. You have until 31 January 2022 if you’re submitting a paper version of the form, or October 2021 when filing electronically with e-Filing.

If you’re unsure about what to do or how to do it, there are plenty of resources available online or through your accountant. You have to start as soon as possible. In that way, you’ll have enough time to complete the process correctly.

#5. Hiding Some Income 

Failing to declare all relevant income and Capital Gains is a crime. The types of earnings that you should report are from employment, pension payments, as well as any property or capital gains sources such as interest received on the bank account for example!

To sum up: 

Tax mistakes can be costly and time-consuming, so it’s important to take care when completing your tax return. The main reason people make mistakes on their tax returns is that they’re not familiar with the tax system. So make sure you read up on the latest changes before you submit your return.

Our accountants can help you save money on your taxes, manage your business finances, and keep your books in order. We’ll work with you to create a plan that meets your needs and helps you achieve your financial goals. 

Booka call with us today to learn more about how we can help you!

 

How Profit First Professionals Membership is helping Zyla Accountants?

How Profit First Professionals Membership is helping Zyla Accountants?

The compliance trap is a reality for many accounting and business advisory firms. In an effort to keep up with the ever-changing rules, these professionals spend more time on paperwork than they do. It happens because they want to provide their clients advice that will help them grow their businesses profitably.

Profit First Professionals was created as something of a relief organization so accountants like us could escape this cycle by properly navigating through financial statements, taxes basics like depreciation schedules or understanding how capital expenditures affect profitability; all without sacrificing quality client service!

When Mike Michalowicz and Ron Saharyan created Profit First, they were able to document the principles in an easy-to-follow book. This led many clients around the world to seek out professional strategic financial advice from these highly educated accountants and advisors.

How Profit First Professionals can make the difference? 

People who are studying this course are changing the world. By empowering their clients to build thriving businesses that make them money. It is so true that a small investment in education can yield a huge return. Certified Profit First Professionals becoming influential authors and guests on TV shows all over!

More than 500 people have become certified Profit First Professional in around 25 countries. Our CEO Suzy Kerton is one of them. Now she can help your business in many ways, for example by preparing financial statements, ensuring compliance with tax regulations, advising on business planning and helping to negotiate better deals with suppliers. 

How does it work?

To ensure your success as a Profit First Professional, you will learn all the ins and outs of this advanced methodology.

You will have to go through the steps of online and personalized training to make your business more profitable. They’ll teach you how Profit First works and then show what that means for your clients’ businesses too!

Next, you must give the Profit First Professionals certification exam and enter close to the next stage of membership, where the trainers will assist you in leveraging Profit First tools. 

After you get the certification, you are ready to close more deals and serve your clients better. You can build a highly profitable business. 

To sum up: 

We know that choosing an accountant is a big decision, so we do everything we can to make the process as easy and stress-free as possible. We’re always available to answer any questions you have, and we’ll work closely with you to make sure your taxes are filed correctly and on time.

Plus, we’re always up for a good chat – whether you need some advice about your finances or just want someone to commiserate with after a long day at work. We firmly believe that client relationships should be based on trust and mutual respect, and we work hard to maintain those relationships year after year.

So if you’re looking for assistance in running your business more effectively, then finding a good accountant is essential.

Book a call with us to know more about how we can help you!

Phone number: 0203 468 2241

Email us at [email protected]

 

7 questions to ask when hiring an accountant for your small business

7 questions to ask when hiring an accountant for your small business

When it comes to hiring an accountant, it’s important to first understand what you need from them. Do you need someone who can help you with tax preparation? Do you need help managing your business finances? Or do you just need someone to keep track of your personal expenses? Once you know what type of assistance you need, then you can start searching for an accountant who specializes in that area. In this blog, we have talked about some of the questions to ask when hiring an accountant for your small business.

#1. Who will handle my accounts?

When it comes to taking care of your finances, you want to be sure that you’re putting your trust in the right person. That’s why it’s important to ask any potential accountant to whom they plan on delegating responsibility for your accounts.

An accountant who can’t answer this question isn’t someone you want handling your finances – they should be able to confidently assert who will be responsible for every aspect of your account and what they’ll do to keep them in good shape. Don’t hesitate to ask about their experience with bookkeeping, as well, as this is an important part of financial management.

#2. What do you think about my current accounting system?

It is one of the most important questions to ask when hiring an accountant. When it comes to your company’s accounting system, it’s important to consult with an expert in order to ensure that everything is running smoothly and accurately. 

An accountant can help assess your current system and make suggestions for improvements, ensuring that your business is operating as efficiently as possible. 

#3. How will you help me during the tax season?

Some accountants offer basic tax services such as preparing and filing your taxes, while others offer more comprehensive services such as helping you understand complex tax laws, advising you on what deductions you qualify for, and representing you in front of the HMRC if you get audited. So it’s important to know what services an accountant offers before hiring them.

#4. What are your service charges and do you offer customized services?

Many accountants charge on an hourly basis, some have a fixed price and others still rely on a value billing system. So, it’s important to remember that every accountant is different. They may charge different rates depending on the services they offer, their experience, or the size of your business. It’s always best to consult with them directly to get a sense of what they would charge for the specific services you need.

#5. Have you worked with a business like mine?

There are a few reasons you might want to ask an accountant about their experience working with a firm like yours. For one, you may be looking for reassurance that the accountant is qualified and experienced in working with businesses of a similar size and complexity to your own. Additionally, hearing about someone’s firsthand experience can give you valuable insights about your sector that can help you make better decisions.

#6. What accounting system should I take in place?

There are a variety of accounting programs and systems on the market, and it can be difficult to determine which one is the best fit for your business. That’s why it’s important to ask an accountant for their recommendation. Zyla Accountants have experience with a variety of programs and systems, and we can help you choose the one that will work best for your business.

An accountant can also help you set up and use the program or system correctly so that you get the most benefit from it. They can also provide ongoing support and training so that you always know how to use the program effectively. Choosing the right accounting program or system can make a big difference in the efficiency and profitability of your business

#7. How will you contribute to the company’s growth?

This last inquiry will truly cement whether or not you have the right accountant and bookkeeper for your organization.

It’s not difficult to get a bookkeeper that can offer you the absolute minimum. Yet, that is not what you need. 

An accountant can help your business grow by providing financial advice, monitoring your budget, and helping you make smart financial decisions. They can also help you plan for future growth and manage your tax burden. Ultimately, an accountant can play a key role in helping your business thrive.

How can Zyla Accountants help?

Our accountants don’t simply ensure that you’re compliant. They’ll work with you to smooth out your business cycles, ensure you’re continuously utilising the best tools & technologies accessible for your business, minimise your tax commitments and find grants for your business in tough times.

Booka call with us and see how we can help you!

Also read: The Future of the Fitness industry: 5 Winning Strategies to Survive and Thrive in 2022

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