The impact of Government COVID measures on business finance
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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Finance
Why value pricing isn’t the magical solution people rave about
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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Struggling to pay tax – what should you do?
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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Inheritance tax – that seven-year rule – what it’s all about?
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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How do I get my business credit worthy?
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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What’s the best way to fund my business?
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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The importance of planning and budgeting
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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The low down on tax and electric vehicles
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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Management accounts – worth your time and resources?
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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What to consider when choosing professional advice
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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What’s the point of package pricing?
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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What’s the point of a mortgage broker?
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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Are you using the right finance tools for your business?
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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What you need to know about your pension
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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The “Jaffa Cake” case!
In the UK, value-added tax is payable on chocolate-covered biscuits – but not chocolate-covered cakes. McVitie’s classified Jaffa Cakes as cakes, which HM Revenue & Customs (“HMRC”) accepted but always had misgivings.
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Expenses – what can I get away with?!
Everyone wants to make sure they are claiming everything they can in order to reduce their tax bill. HMRC like business expenses to be wholly and exclusively for the business so things with dual-use are usually not able to be claimed for.
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Are you tax aware?
The Government introduced various schemes that have supported some businesses and individuals through the COVID 19 pandemic. The big question on many people’s minds has been “How will this be paid back?”.
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Start-ups – what are your options for finance?
There is no doubt that raising finance for new start businesses can be the most challenging time to raise funding. It is also true that ‘insufficient investment and/or working capital finance’ is a key factor in many start-up failures.
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Landlords – are your books in order?
If you are a property landlord errors in your bookkeeping can make it very difficult to monitor your profits and keep track of expenses, as well as monitoring yields on investments.
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Is your property portfolio safe from tax?
Changes to Mortgage Interest Relief came into effect in 2020 a year on has much changed? Landlords have been limited to income tax relief at the basic rate of 20%. They have seen a large increase in their taxable profits and a corresponding drop in ‘real’ profits.
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