If you run your own business, it’s likely that at some point you’re going to come across a customer who doesn’t pay you on time. So what do you do when you need to chase payment from them? Here are some suggestions on how to work with five types of late-paying...
When it comes to the health of your business, a positive number on your balance sheet doesn’t always show the full picture. While it’s important to keep a close eye on how much revenue your business generates, it’s also crucial to look at where that revenue comes from and consider if...
As a business owner, the thought of an HMRC tax investigation can be quite daunting. However, our article below outlines what is involved in the process should you ever need to prepare your business for an HMRC tax investigation. It also explains some of our processes and the information we request...
Do we live to work, or work to live? When you run a small business, the expectations of fewer hours and setting your own schedule can be a far cry from the reality of long days and last-minute work disturbing your Saturday evenings (and that includes us!) And that’s not...
Company cars have long been a valuable perk for employees and can offer convenience and cost savings. However, it's crucial to understand that owning and using a company car comes with tax considerations that can significantly impact your personal finances. Here are some key points to consider: Personal use of a company...
The Employment Allowance is an allowance that eligible employers can claim to set against their secondary (employer’s) Class 1 National Insurance liability. The employment allowance is set at £5,000 for 2023/24, capped at the employer’s secondary Class 1 National Insurance for the year where this is less. It is not given...
With everything going on in the economy at the moment, there has never been a more essential time to take a good look at your overheads and cost of sales. Then, add into the mix the rising cost of labour, materials and shipping, and this exercise to examine your cost base...
Following on from our MTD Workshop in November, the treasury made an unexcepted announcement in December that they have decided to delay the rollout of MTD for sole traders, partnerships and landlords. Before this announcement, any sole trader or landlord with a total gross income of over £10,000 would have needed...
From Monday 3 October 2022, HMRC are introducing a new payment system where employers’ PAYE customers can pay via variable Direct Debit. Previously it had only been possible to pay by Direct Debit as a one-off payment. However, this has now changed, and from October employers can now set up a...
There have been a lot of changes in the construction industry lately - most recently, the introduction of MTD for VAT registered businesses. So, to help you understand how MTD will affect the construction industry, we've written a full breakdown explaining what MTD is, how it will affect your business and...
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