Insights - Scholes

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Insights from
the experts

We keep our finger on the pulse of financial, tax and regulatory developments so you can stay compliant, stay informed and stay ahead.

The relationship between accountants, business recovery experts, and insolvency practitioners

Business recovery is usually a process that begins with identifying financial pressure, understanding its causes and deciding whether the underlying business remains viable. Accountants and business recovery experts approach this process from different perspectives. As an accountant, we generally focus on financial reporting, tax, cashflow and business performance. Recovery specialists and insolvency practitioners, on the […]

By Ivan Houston
July 27th 2026

How to correct errors in your accounts and tax returns

If you make errors in your accounts and Corporation Tax returns, you should deal with them as promptly as you can because delaying things can increase interest, penalties and the risk of an HMRC enquiry. However, if you do make a mistake, the way you make amends with HMRC matters. Your first step is to […]

By Ryan Allan
July 24th 2026

How to prepare for your first audit

You may have crossed the statutory audit threshold, taken on external investment, expanded into new markets, joined a group structure or reached a point where lenders, shareholders or other stakeholders want more assurance over the numbers. However, your first audit can also expose issues that have been manageable, or even invisible, while the business was […]

By Karen Scholes
June 30th 2026

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