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Paying your tax bill on time can be a struggle. The HM Revenue & Customs’ (HMRC’s) penalty regime exists, to act as a deterrent for late payment and overdue submissions.But did you know that H [read more]
Value-added tax (VAT) is a consumption tax that’s levied on goods that have had value added at each stage of the supply chain.Most businesses with annual sales of £85,000 or more have to register f [read more]
The pandemic has proved to be a tough time for the UK’s freelancers. But there is help at hand still in the form of the Self-Employment Income Support Scheme (SEISS).The fifth tranche of the SEISS i [read more]
If you run your own business, it’s tempting to bring in your own family into the company. But it’s important to think through both the positive and negative implications of employing your family.E [read more]
You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand th [read more]
Most small business owners are familiar with the idea of a traditional on-site bookkeeper, but could your business benefit from hiring a virtual one instead? There are many benefits to hiring a virtua [read more]
Every business owner must know where the money in their company comes from and where it goes. That’s why financial management is one of the most important things to keep in mind.What is a business b [read more]
We all know that dividend payments are a key way to pay yourself and your fellow company shareholders when your business makes a profit. But are you following the right rules when taking out dividends [read more]
Just before the start of this new 2021/22-tax year, HMRC announced changes to how crypto assets - those funds held in or earned through cryptocurrencies - are taxed.As a relatively new concept, there [read more]
Offering benefits-in-kind to your staff is a great way to make your business an attractive place to work. And these benefits add even more value if they’re also either tax-effective or tax-free.You [read more]
Projecting your cashflow pipeline forwards during a crisis is vital.To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial positio [read more]
Keeping the UK’s tax system running effectively and up to date with advances in technology is no easy task. But the introduction of the Government’s ‘Making Tax Digital (MTD)’ initiative is in [read more]
If you’re a director then taking out a director's loan against the cash in your limited company might seem like a sensible thing to do. But the reality is that overdrawn loans to directors can lead [read more]
With greater use of home-working now the norm for many UK businesses, it’s important to think about the deductible expenses that you may be able to claim when working from a home office.Working from [read more]
As your company year-end date gets closer, there are a number of administrative and financial tasks to start planning for – so it’s a good idea to get yourself organised and ready.There are severa [read more]
It’s been a tough time financially for many UK businesses over the past year. So, as we gradually begin to ease out of the pandemic, there’s likely to be an increasing need for extra funding to ge [read more]
Accounting is notoriously complex but as a small business owner, good accounting practices are essential to the financial health of your organisation. Taking your accounting seriously from the start i [read more]
Are you planning a new business or thinking about pivoting an existing one? Spice up your business plan to start on the right foot.Having a detailed business plan is critical to any venture.It helps y [read more]
If you want to avoid the stress of the tax period, follow these four simple steps to prepare your business in advance.Tax season is one of the most stressful periods of the year for a business owner. [read more]
Can directors and employees receive gifts from the company tax free?Giving gifts to your employees can be a great way to increase engagement and raise the overall morale of your team. But how much can [read more]
Cash flow forecasting can show you the ups and downs in your business. If you want to know what action to take, this is one tool that can help.A few budgeting tips here and there might help you remain [read more]
Covid restrictions are gradually being eased in the UK between April and June 2021. So, it’s time to start thinking about the return to the workplace and how you'll welcome your home-working and fur [read more]
