If you offer your employees a pension through salary sacrifice, there is an important change coming down the track.
Read moreIf you run your own limited company, it can sometimes feel like there is very little difference between you and the business.
You own the shares. You run the company. You make the decisions. The money in the bank ultimately comes from the business you have built.
But legally, your company is a separate entity.
That means the money in the company bank account belongs to the company, not to you personally.
And a recent High Court case has provided a useful reminder of what can happen when the line between personal and company money becomes blurred.
Read moreReceiving a letter from HMRC can be enough to make any business owner’s heart sink.
Whether you’re a sole trader, landlord or limited company director, being told your tax affairs are being reviewed can feel worrying.
The good news is that an HMRC investigation doesn’t necessarily mean you’ve done anything wrong.
In fact, many enquiries are completely routine.
Read moreStarting a business is exciting. Whether you’ve left employment to work for yourself, turned a hobby into a business or finally decided to take the plunge with an idea you’ve had for years, there is a lot to think about.
Read moreWhen you start a business, your accountant can be one of the most valuable people in your corner.
Of course, there is the obvious side of accountancy: keeping your books up to date, preparing your accounts, dealing with VAT and payroll, and making sure your tax returns are submitted correctly and on time.
But a good accountant should offer much more than that.
Read moreThe first quarter under Making Tax Digital (MTD) for Income Tax has now come to an end for those businesses already taking part.
That means the first quarterly update is due to be submitted by 7 August.
If you’re one of the sole traders affected by MTD, don’t panic. The quarterly update is much simpler than many people expect, especially if you’re keeping your records digitally.
Read moreYou finish the work.
You send the invoice.
Then… nothing.
A week later you’re wondering why your customer hasn’t paid. Before you assume they’re deliberately delaying things, it’s worth checking one simple thing.
Read moreMany business owners try to save money by doing their own bookkeeping. Discover the hidden costs of DIY bookkeeping and how accurate financial records can help your business grow.
Read moreA business can be profitable and still run out of cash.
Many business owners look at their year-end accounts, see a healthy profit, and wonder why the bank account doesn’t look nearly as healthy.
Read more