Author: Fiona Grant-Jones

17 April 2025

The Importance of a Business Plan: Why Every Business Needs One

Picture this: you’re driving from A to B, but you don’t know exactly where A is, or which roads will lead you to B. You might manage to stumble onto the right track, but you’ll probably waste time (and fuel) along the way. It’s the same in business – you need a plan, or you risk wandering off-course.

Categories Business Basics Comments: 0

17 March 2025

Time to Go Digital: Why It’s Time to Give MTD for Income Tax Your Attention

Most VAT registered businesses have already felt the impact of Making Tax Digital (MTD) for VAT, which kicked off back in April 2019, and now applies to all VAT registered firms.
MTD for Income Tax is the next major deadline, and if you’re self-employed or receive income from property, you’ll soon need to take action to stay compliant.

Categories Business Tax Comments: 0

19 February 2025

Cut Your Tax Bill: Tax-Saving Moves Before 5 April 2025

As we head towards the end of the 2024/25 tax year (which runs from 6th April 2024 to 5th April 2025), now is a good time to double-check if you’re paying the right amount of tax.
Whether you’re focusing on personal tax or looking at your company’s tax position, there are some simple steps that could help you reduce your tax bill.

Categories Business Tax/Personal Tax Comments: 0

6 January 2025

Landlords Beware! The Risks of Property Tax Avoidance Schemes

If you are a landlord or property investor you may have been approached by someone offering you some attractive sounding advice or offers of different ways to manage your portfolio, telling you it is a more tax efficient way to arrange things.

Categories Property Basics Comments: 0

10 December 2024

Don’t Let Your Tax Return Spoil Your Christmas

December is here and the countdown to Christmas is well and truly on. And if I were to whip out my crystal ball and predict the future, I can almost guarantee this is the scene I’d see… Christmas day has...

Categories Personal Tax Comments: 0

14 November 2024

Don’t Let the Autumn Budget Headlines Panic You

Generally, budgets come with an element of trepidation, and especially when there’s been a change in government. And, because of the provocative style of reporting our mainstream media adopts, it’s understandable that for many, there’s a natural inclination to panic or make knee-jerk decisions in response. But, while this budget isn’t perfect, it’s not as severe as some of the more sensationalised reports suggest.

Categories News Comments: 0

16 October 2024

Should HMO or buy-to-let landlords set up a limited company?

There are several considerations to take into account when deciding whether or not to set up a limited company for your HMO or buy-to-let business. Some key factors to consider are the level of personal liability you’re willing to accept, the tax implications, compliance requirements and mortgage relief.

Categories Business Basics Comments: 0

9 September 2024

5 essential steps to successfully establish and grow your new business

If you are embarking on the exciting journey of starting your own business, then we wish you many congratulations! As you navigate the path to entrepreneurship, it’s crucial to lay a solid foundation that sets your venture up for success and sustainable growth. Here are five important steps to consider as you establish and grow your new business…

Categories Business Basics Comments: 0

7 August 2024

Increasing your profit – why it’s not the same as growing sales

A business can increase turnover by simply selling more products or services, but if costs increase at the same rate or faster, profitability may not improve or could even decline.
So, how can you improve profits in your business? Here are 4-ways…

Categories Business Basics Comments: 0

11 July 2024

How can you save on capital gains tax?

Over the last two years, the tax-free allowance for capital gains tax has been cut by over three-quarters. For the tax year that recently began on 6 April 2024, the Annual Exempt Amount has been reduced to £3,000 (£1,500 for trustees). These reductions mean that more and more of us are likely to be affected by capital gains tax.

Categories Personal Tax Comments: 0

6 June 2024

Avoiding Business Pitfalls: 7 things you should NOT do as a business owner

As a business owner, you’re constantly juggling multiple responsibilities and facing a myriad of challenges. While there are countless strategies for success, it’s equally important to be aware of potential pitfalls that could derail your efforts.
In this article, we’ll explore seven common mistakes that business owners should avoid at all costs.

Categories Business Basics Comments: 0

8 May 2024

Are you better off as a Limited Company or a Sole Trader

When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is an important thing to consider.

Categories Business Basics Comments: 0

16 April 2024

Unlocking efficiency and growth: The benefits of cloud accounting

In business, staying ahead of, or at least up with, the curve is crucial for success. Over recent years, one of the revolutionary tools that has transformed the way businesses manage their finances is cloud accounting.

Categories Small Businesses Comments: 0

14 March 2024

Navigating uncertainty: Key considerations for your business

According to the Office of National Statistics the UK is now officially in recession. Recession is defined as a fall in Gross Domestic Product (GDP) in two consecutive months.
Is it all doom and gloom?

Categories Business Basics Comments: 0

19 February 2024

Adapting to Change: Essential Strategies for Business Success

Businesses that embrace change as an opportunity rather than a threat are better positioned to thrive in today’s dynamic environments.

Categories Business Basics Comments: 0

16 January 2024

Paying off debt – what you need to know

Being in debt – whether a loan taken out or hitting cashflow issues which mean you can’t pay bills on time – can be a millstone round the neck of many small businesses. Here is our advice on quick and easy solutions to help you manage your business debt.

Categories Business Spending & Debt Comments: 0

7 December 2023

Creating a business budget

Having a budget for your business means you can track your spending at any given time, whether it’s a month, quarter or year you’re monitoring. It enables you to look at where your money is going day to day against what your business projections are.

Categories Business Spending & Debt Comments: 0

7 November 2023

Debt Collection – creating a healthy balance

Effective debt collection for any small business means striking a balance between keeping customers happy and being paid on time for the products of services you offer. But how easy is it to deal with late payments and keep on good terms with your clients?

Categories Business Spending & Debt Comments: 0

10 October 2023

Your aged debtors report: what it means and what you should do about it to manage debt

Dealing with debt owed to you can be tricky, and the terminology even trickier. Let’s look at one such phrase that you need to be familiar with if you value the financial health of your business: the aged debtors report.

Categories Business Spending & Debt Comments: 0

8 August 2023

Should Small Businesses Still use the VAT Flat Rate Scheme?

The VAT Flat Rate scheme was introduced in 2002 to simplify VAT reporting for small traders, reducing the time taken to calculate VAT and prepare returns compared to normal VAT accounting.

Categories Business Tax Comments: 0

5 July 2023

Research & Development Tax Relief – exploring your field while protecting your purse

Did you know that if your business has a research and development arm, you can potentially benefit from very generous tax relief?

Categories Business Tax Comments: 0

19 June 2023

The end of super-deduction – what it means for your business

Super-deduction for capital investments has now come to an end as of March this year, but it doesn’t mean you can’t reap the benefits of this generous tax relief, especially if your year end doesn’t fall neatly in April…

Categories Business Tax Comments: 0

9 May 2023

Help – my accountant & bank manager aren’t speaking the same language!

When it comes to working out the difference between your accounts and your bank balance, it sometimes seems that everyone is talking a different language – none of which you fully understand.
Accountants quite often talk about cash, profits, accounting profits and taxable profits all in the same sentence, but you may be asking yourself: isn’t that all just the same thing?

Categories Know Your Numbers Comments: 0

18 April 2023

Making Tax Digital and basis periods

Over the past few years, you will no doubt have heard of Making Tax Digital (MTD) being talked about on the news, particularly at budget time. If your business is VAT registered, then you will undoubtedly be familiar with the term.

Categories Business Tax Comments: 0

8 March 2023

How will changes to Corporation Tax from April 2023 affect my business?

Any business, large or small, has to pay Corporation Tax. From 1st April 2023 there are some changes which are going to make a difference to what a business has to pay. So, if you run a small business, how will the changes impact you?

Categories Business Tax Comments: 0