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GLOSSARY

Bookkeeping definition

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What does Bookkeeping mean?

Bookkeeping is the system of recording transactions used by a business. Bookkeeping can be digital or on paper. The quality of business information available for accounting and taxation depends on the bookkeeping system. As HMRC’s Making Tax Digital programme is rolled out, many individual taxpayers and businesses will need to keep records digitally using MTD compatible software. From April 2024, MTD will cover property and trading income f


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