Business

Making sure you get paid on time is crucial to your success. The process of making sales and generating revenue lies at the heart of any business model. But you can't manage your cashflow effectively or raise any profits if customers don't actually pay their invoices. The easier you can make it for customers to pay you, the...

Having a vehicle to use for business purposes adds to the efficiency of your business. But should you opt for a company car or a company van? Company vans are taxed in a far more favourable way than passenger cars, in most cases. Both company tax relief and personal benefit-in-kind tax charges are more tax efficient for vans...

Inflation is hitting businesses and households hard in 2022. Across the world, inflation is running high, thanks to factors like pandemic disruptions, monetary stimulus and supply-chain issues. You’ll see the effects at the supermarket and the fuel pump – and in your business. Eroding each dollar’s buying power Inflation increases prices, which eats away at the buying power...

Getting your head around Business Finances and the basics of bookkeeping, accounting and good financial practice may not come naturally to all business owners. But the better you understand the numbers, the more control you'll have over your business and your decision-making. To get you started, here’s a rundown of some of the main financial terms and how...

As an unincorporated business (that’s sole traders, self-employed people and normal partnerships) you have the option of using a ‘cash accounting basis’ when preparing your accounts – rather than the more usual ‘accrual basis’. Preparing your accounts on the cash basis can be simpler and makes your life easier. But, in practice, you will still need to keep...

When first setting up your business, there are multiple decisions to make – and a key consideration will be whether to register the business for Value-Added Tax (VAT), the tax that’s added onto the price of certain goods and services. When does VAT registration become mandatory? When your business’s turnover reaches £85k over any rolling period of 12 months,...

Effective goal setting will help you get the very best out of the year. Our 5 goal-setting tips will help small business owners reach new highs. Wouldn’t it be great to have your best year ever, this year? Whether you want to grow your business or take more time for yourself, these goal-setting tips can help you achieve...

The answer to this is yes, however you need to consider if this is the right move for you. If you are already registered for self assessment with HMRC, you don’t need to register again.  You simply complete two or more self employment pages on the self assessment form (one for each business). This can get a bit...