Helping businesses earn more, pay less tax, allowing you to live the life you want
Chartered Accountants on the outskirts of York
Chartered Accountants in York
As business owners ourselves we know the frustration, stress, and sleepless nights caused by running a business, managing a team, and keeping track of what taxes are due.
At Inglis, we save you time, stress and money by helping you stay in control of your business and maximising your tax reliefs. We are more than just an accounting firm, we support you and your business in the long term, and help you achieve your business and life goals.
Net Zero Accounting
Inglis have proudly reached the first level of certification to becoming a Net Zero business, working with climate action platform, Net Zero Now.
A Force For Good
Whilst profit, tax and cash is important to us, we support several good causes including Wetwheels Yorkshire, York Mind, and Kitchen For Everyone York.
Popular services
At Inglis, we offer a range of accounting services to help your business grow and thrive
Virtual Finance Director
Leave us to manage the finance function of your business so you can concentrate on the day-to-day running of your business. As your Virtual Finance Director, we will be a sounding board you can bounce ideas off, as well as acting as your business coach and working alongside you to ensure you meet your business goals.
Management Accounts
Do you know how much money is coming in and going out of your business on a day by day, week by week basis? In order that you can make informed decisions to manage your business better, we offer a management accounts service that will help you keep on track of your company's numbers.
Bookkeeping
As you grow your business the number of transactions you complete can quickly add up and bookkeeping can become a daunting and endless task. We offer an out of house bookkeeping service so all you need to do is pass us your sales invoices and receipts and we will do the rest.
FREE DOWNLOAD
32 Ways To Save Tax and Extract Maximum Value From Your Business
Ever wonder what you can take out of your business or how you can save more tax? This guide explores 32 ways of ensuring that you’re maximising every opportunity you could be to improve your life, your families and your employees.
Latest Blog Articles
Making Tax Digital for Income Tax (MTD for IT) is being introduced from 6 April 2026. If you’re a sole trader or landlord, this will mean complying with the new rules around keeping digital records and submitting quarterly digital updates to HM Revenue & Customs (HMRC). However, there are potential exemptions to the new MTD for IT rules. So, it may be that you can, for the moment, escape the mandatory move to digital tax returns. Let’s see who will have to use MTD for IT, and who won’t be required to sign up. Who WILL need to use MTD for IT? MTD for IT is being introduced in a number of phases, starting with sole traders and landlords from the start of the 2026/27 tax year. It’s mandatory to use MTD for IT if all of the following apply: You’re a sole trader or a landlord registered for Self Assessment You get income from self-employment or property, or both Your qualifying income is more than £20,000 There’s more info here on what qualifying income is included. Who will NOT need to use Making Tax Digital for Income Tax? Not all sole traders and landlords will need to use the new MTD digital system. You’ll be exempt from using MTD for IT if: You meet certain conditions that make you automatically exempt from using the service You have applied for an exemption and HMRC approves your application Your qualifying income is £20,000 or less When will you need to begin using MTD for IT, if eligible? The qualifying income threshold for MTD for IT begins at £50,000 for the 2024/25 tax year, and will drop progressively over the next three tax years. If your qualifying income is over: £50,000 for the 2024 to 2025 tax year, you will need to use it from 6 April 2026 £30,000 for the 2025 to 2026 tax year, you will need to use it from 6 April 2027 £20,000 for the 2026 to 2027 tax year, where the Government has set out plans to introduce legislation to lower the qualifying income threshold. Business partnerships will be required to use Making Tax Digital for Income Tax in the future. The timeline for this is yet to be announced by HMRC. Talk to us about getting ready for MTD for IT You’ll start using MTD for IT once you submit your first Self Assessment tax return. However you can choose to sign up to the MTD scheme early, if you want to. Call our team on 01904 787 973 if you want ot learn more about Making Tax Digital and how we can help you select the right accounting software, understand the MTD rules and get ready for the start of MTD for IT.
Keeping on top of your cash flow is even more important during tough economic times. With global uncertainty, recent high inflation, energy prices soaring, and supply chain challenges, cash is likely to be tight over the coming year. Cloud technology and fintech apps can give your business the best possible control over its cash. Why is cash flow so important? To keep your business operating, you need enough money coming into the business to cover your outgoings – with enough surplus cash to deliver a profit. In recessionary periods, consumers have less disposable income to spend on your products and services. Business customers will be looking to rein in their spending on suppliers. As a net result, your business is likely to make fewer sales and will bring in smaller revenues. This means: Reduced income coming into the business Less cash in the business to cover your operational expenses Not enough money in the bank to pay suppliers, utility providers or payroll costs In the worst-case scenario, insufficient cash flow for you to continue trading What can you do to improve your cash flow situation? The more informed you are about your cash position, the more you can do to prepare for any cash flow gaps. It’s this foresight that can make all the difference when you’re battling against tough external economic forces and a downturn in sales. If you want to safeguard your cash flow, these are some sensible steps to take: Switch to cloud accounting – accounting and finance technology has moved on in leaps and bounds in the past decade. The best cloud accounting platforms all offer a detailed reporting of your cash position. These software tools will generally offer real-time data, giving you up-to-date cash numbers. Integrate with cash flow forecasting apps – cloud accounting platforms let you add third-party apps to create a custom app stack of helpful business tools. There are plenty of cash flow forecasting apps to choose from, giving you the ability to predict your future cash flow position. Plan ahead for the cash flow gaps – when your forecast shows a shortfall of cash coming up, that’s the time to take evasive action. If you can see that there’s a cash hole approaching next month, it’s time to look at ways of raising extra finance to fill that hole. That could mean extending your bank overdraft, taking out a small business loan or taking out an invoice finance facility with a lender. Look for opportunities to cut your overheads – one way to even up your cash flow is to cut down on your expenditure. If you can cut back on overheads, expenses and unnecessary costs, this can help you rebalance your cash position, even when cash flow is getting tight. Look for cheaper suppliers, buy in smaller quantities and take every opportunity to cut costs and keep your spending more sensible. Update your prices and your sales strategy – raising your prices is one way to bring in more cash, with the same volume of sales. But it's a balancing act. Putting your prices up can alienate existing customers and could see you losing customers, but if you can find the sweet spot for your pricing AND also drum up more sales, you can quickly increase revenue and give your cash inflows a healthy boost. Review your cash flow reports regularly – it’s important to look at your cash flow numbers and reporting regularly, not just at period-end. This is particularly important when economic times are tough. With the most current cash information to hand, you can make informed business decisions and aim to keep the business operational. Talk to us about updating your cash flow processes With your business in a healthy cash flow position, you give yourself some solid financial foundations for riding out the global recession. No business is invulnerable in these conditions, but with liquid cash in the business, you have more flexibility and more capital to play with. Book a meeting and let’s see how we can improve your cash flow processes .
It’s a tough time to be in business. And especially so if you’re a mature, established business that’s finding it hard to keep pace in the rapidly changing market. As a mature owner, you have experience and knowledge on your side. But you’re also faced with the new realities of transformative AI technology and a global economy that’s increasingly unstable and unpredictable. Why are these challenges so problematic? Let’s look at the potential impact. A new business reality When you started out, the business world was probably a more predictable beast to tame. Technology was here to assist us, not replace us. Markets were more stable and supply chains were reliable. But that cosy existence has changed – and it’s making it much harder to do business. That’s bad news if you’re aiming to: Grow the business and increase sales revenue. Sell the business and get a good return on your investment. Hand the business to the next generation in good shape. The challenges for mature businesses Trading, when the world around you is changing, is difficult. It throws up some specific challenges that could have a major impact on the future of your business. Staying competitive and efficient Cloud tech, automation and now artificial intelligence (AI) have changed the technological landscape. If you aren’t abreast of this technology, you can quickly lose your competitive edge. Planning your strategy The business landscape is no longer stable. Global events can change the economic outlook and the validity of your strategy in a heartbeat, making it hard to plan ahead. Three ways to optimise your business in 2025 To overcome some of the potentially negative impacts, it’s important to remain agile. Let’s look at three ways you can help to embrace the new reality. 1. Champion AI, automation and digital technology Get on board with AI and digital tech. AI can either be your worst enemy or your biggest asset. Fall behind the technology curve and your competitors will overtake you. Embrace the best elements of AI and it could transform your operations and productivity. When used well, and with a proper strategy behind it, AI has the potential to make your business more efficient and make it cheaper to run. 2. Focus on human skills and talent Technology is brilliant for speeding up the running of your operations. But it’s also vital to recognise the contributions of key human skills and the talent of your team and workforce. Your people are the face of the company and a large element in defining your brand. They’re the creative centre, the ideas hub and the humanity that brings your business to life. Never underestimate the impact of real, genuine, human customer service. 3. Balance your use of AI and human skills AI can help to run the business, but you also need a talented team driving the company. The sweet spot is to balance these two different factors making sure you have human oversight over your AI. Maximise your use of AI, software automation and digital technologies, but also invest in people, raw talent and the capabilities that a human team brings to the table. Talk to us about optimising your business If you’re feeling like the business landscape is speeding past you, leaving you trailing in the wake of technological, environmental, political and economic change, you’re not alone! Many experienced business owners are feeling the same way – and have the same concerns around how they’ll be able to sell their business, or pass it on to their successor. Come and talk to the team and we’ll walk you through some simple, straightforward steps to help you change course, optimise your business and embrace the new reality. Call us on 01904 787 973 or book a discovery call with Donald Inglis .