Tag: business

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

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

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

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

22 February 2023

Can you reimburse electric car mileage above the advisory rate?

When your employees travel for work you have to reimburse them for their mileage but this is complicated when it comes to electric cars.

Categories Business Expenses Comments: 0

12 December 2022

Is a staff Christmas party a business expense? Is it tax deductible?

Providing an annual party for your employees is a great way to thank them for their hard work and Christmas is the most popular time for companies to show their appreciation. The good news is that the parties are exempt from tax and National Insurance, based on three main stipulations…

Categories Business Tax Comments: 0

7 November 2022

Leading People Through Change

Does everything seem back to normal to you? Do we have any idea what normal is anymore? After two years of not knowing which way is up, getting back to some semblance of normality is a priority for most businesses.

Categories Post Pandemic Next Steps Comments: 0

5 October 2022

Growing out of the Pandemic – Systems and Processes

From first idea, then getting the basics set up, creating and delivering your product or service, establishing yourself in your marketplace and then year-on-year growing your business and a loyal customer base, there is a lot to do – every day.

Categories Post Pandemic Next Steps Comments: 0

6 September 2022

Dealing with Uncertain Times

In the business world, the only thing that is certain is that every business faces uncertainty! This has never been so true in 2022. Few companies have control over future events like price fluctuations, market crashes or recessions. And nobody saw the complete change of working practices, or worse, closure during the pandemic hitting businesses so hard.

Categories Post Pandemic Next Steps Comments: 0