Nearly everyone who has their business up and running will want to make sure they’re claiming expenses to reduce their tax bill. However, there are a number of rules that need to be followed.

Before we look at “how?”, let’s start with “why?”. Should costs be a priority, or is the most important thing increasing the sales line?

Over recent years the commercial finance brokerage market has seen the rise of the ‘on-line’ brokerage models. These are aimed at providing ‘all market coverage’ and focusing on ‘speed of delivery’ to service the ‘need’ they believe SME businesses have.

In its simplest terms, a break even point is reached when your total revenue matches your business costs and your business is not making either a profit or a loss. Anything generated above this point is a profit.

If you run a business you may know that a balance sheet and profit and loss account form part of your year end accounts…to many people, they are just numbers on a piece of paper!