With everyone beginning to feel the full effects of the cost-of-living crisis, business owners are constantly looking for ways to reduce their spending whilst continuing to operate at full capacity. Reducing your outgoings will depend largely upon the industry you operate in, and how essential your operating costs are, but there are multiple different ways…
If you are someone who runs their own business, you may be aware of how frustrating it can be to collect unpaid invoices. For small businesses with limited resources, it can be a time-consuming exercise and disrupt you from other important responsibilities. Therefore, credit control is so important, to not only save you time, but…
When running a business, there are many important details to remember for both sole traders and limited companies. Managing your finances at the early stages and making sure you are following all legal procedures is important so that you can successfully get your business off the ground. A commonly asked question amongst business owners when…
As a small business, it can sometimes be difficult to make connections in your industry and build your reputation. One of the best ways to do so is through business networking. Attending networking events can have so many benefits for you when trying to build your reputation, building relationships with other businesses who can provide…
With the new tax year having begun on 6 April 2022 and lasting 12 months until 5 April 2023, the government have introduced numerous changes in an attempt to ease the cost of living. Whether you are a business owner or an employee, you are likely to notice this having an impact. New legislation such…
If you are taking the first steps towards setting up your business, it is essential for you to be well prepared and put together a detailed business plan. The importance of a business plan cannot be understated, as it can help you to develop long term goals and objectives to get your business off the…
(Last updated February 2022) As a start-up business or small to medium sized enterprise (SME), navigating the value added tax (VAT) landscape can be one of the biggest challenges for you to overcome. We fully understand how challenging it can be – we work with businesses just like yours, each and every day. When it…
It is a real blow when you see the National Insurance deducted from your pay packet each month isn’t it? Nevertheless, if you are employed or self-employed, are age 16 or over and earning above the minimum threshold, there is no way to evade paying it! After all, it’s in your best interests to make…
Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who has died). Sounds simple, doesn’t it? Well, unfortunately it is not quite as straightforward as it may seem due to the many ‘it depends on…’ type scenarios to consider. Typically, you will be exempt from inheritance tax if the…
‘Doing the books’ is often a task dreaded by business owners. The creative, risk taking traits that entrepreneurs are known for (and excel at) do not always bode well with the meticulous task of organising finances. For some, it is just an overwhelming task, especially if a business owner has little experience with managing books.…