With the complexity of the VAT laws, it’s understandable that businesses make mistakes on their VAT returns. When VAT was first introduced in the UK way back in 1973, it was hailed as a simple tax. Turns out it isn’t quite so simple after all.
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While an arrangement to borrow money for a business is between a client and the lender, there are numerous other individuals involved to help the process with many needed before the application is even considered.
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Research & Development (R&D) tax relief supports companies that work on innovative projects in science and technology. You can even claim on unsuccessful projects.
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It has been a standard requirement for a majority of limited company lending that a personal guarantee from at least one director is in place to support the debt, regardless of the quality of the business and the size of the lending facility.
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The one thing that small business owners hate doing is bookkeeping and accounting. However, the one thing you need to get right to ensure your business succeeds… is bookkeeping and accounting.
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Business owners who have the foresight to turn to seasoned professionals for advice, support, and help are the ones most likely to enjoy continuing success. And the kind of professional who can help bring some assurance to their growth is their accountant.
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The significant drop in turnover and profitability felt by many businesses during lockdown is having a significant impact on their ability to be accepted for finance.
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Why value-based pricing isn’t always the magical solution to small business wealth that everyone always talks about. When you run a small business, there are really two types of pricing strategies that you can implement.
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The January self-assessment payment deadline is not well timed… when people may be already struggling to pay their Christmas bills. However unpalatable the 31 January tax deadline is, it is not one that should be ignored.
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Have you started thinking about estate planning? Let’s hope you have. If the answer’s ‘no’, then today is as good a time as any. And there’s no better way to start than by looking at the famous ‘seven-year rule.
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This article is designed to help a small business with ensuring their business is in the best possible position when applying for finance, whether it is a small loan for an asset or a larger loan for a property.
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All successful businesses were start-ups at some stage and it is vital to the future of the UK economy that entrepreneurs continue to create new start-up businesses.
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It’s important to set milestones and celebrate those little victories as each one is reached, it encourages you to continue with your plan, keeps you on track.
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By 2030 new fossil fuel cars will cease to be sold in the UK. Before then, the Treasury is incentivising business drivers to go electric by offering some key tax benefits.
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If you are one of the many businesses preparing reports simply to file them away, then please stop and ask yourself, why do you need or want to prepare management accounts?
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For many things in life, you have a choice – do it yourself or get someone else to do it. From cleaning your car, to investing your money, decorating your house and marketing your business. The choice is yours.
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With no universal price list to guide you, it’s incredibly difficult to work out how much to charge. You could have a look at your competitors’ prices but, as they’re in the same boat, their price may be far from “right”.
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Why when the internet provides limitless amounts of information and advice available at your fingertips would anyone still choose to use a mortgage broker?
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The pace of change in the accountancy software landscape is rapid. A high level look at the Xero App Marketplace shows over 700 apps that you can plug into Xero to help manage the finances of your business.
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Most people strive to provide for their family. Pensions often form a substantial part of the mix and with a large pension, comes the potential for additional tax through the lifetime allowance and equally the potential to help minimise inheritance tax.
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