Bookkeeping: More Than Just Numbers Want to be productive, step forward bookkeeping and digital accounting This is the heartbeat of every business, social enterprise and charity, large or small. Good bookkeeping helps you manage cash, track sales, and meet your legal...
Are you a sole trader, landlord, or both? Do you earn from property or self-employment? If yes, Making Tax Digital for Income Tax (MTD for ITSA) could soon apply to you. The rules are changing. Deadlines are coming. Preparation now will save stress later. This guide...
Shareholders and directors both play crucial roles in a company, but they have distinct responsibilities and powers. Understanding these differences is key to managing a business successfully. The differences between shareholders and directors Think of shareholders as...
Are you ready to take your business to the next level? If you've been searching for a way to master your business finances, reduce stress, and connect with a vibrant community of like-minded entrepreneurs, look no further than Numbers Knowhow. Firstly, let me...
Debunking the Myth about Budgeting It’s a common misconception that a budget restricts one's freedom. Quite the contrary. It’s actually a very important stepping stone towards reaching your financial and business objectives. Highly recommended: create a budget for...
The Business Side of Arts and Creatives, yes there is one. Today I am looking at the world of artists, creatives, and art organisations as businesses. Yes, you read that right; they're businesses, just like any other. In this video, we'll explore the key differences...
National Insurance explained by Video, how cool is that. Are you looking for a simple explanation of National Insurance (NI)? You have come to the right place In this video, I am going to be talking about National Insurance specifically, what it is The rationale...
A Community Interest Company (CIC) fills the gap between social enterprise and traditional for-profit business. Furthermore, it's designed for those with an interest in solving social problems. Taking on public contracts as well as private ones. It gives you more...
What is your why for having your own business, whatever that, there are reasons Why your business must make a profit. Making profit must be at the top of your business goals, ignore that at your peril. Firstly, I am going to tell you why making profit is vital for...
You are here because you want to know Should you pay off your Bounce Back Loan . Many of you would have already received some notices from your bank advising you that your Bounce Back Loans are coming up for repayment. A key question is should you pay them back now?...
Sole trader or limited company and Choosing your business structure to save tax ? Previously I talked about the differences between a sole trader and limited company. What you need to consider when deciding what business structure, you should adopt. You cannot make...
How to kick start your Social Enterprise. What you need to know. What is a Social Enterprise? There are over 100,000 social enterprises throughout the country. Contributing £60 billion to the economy and employ two million people. Firstly, Social Enterprise, Charity,...
Most people think that there’s not a lot in common between accounting and the arts. But the two do have something in common – money. Even artists have to eat, and to make a living as an artist, you have to make money. It’s not about winning million pound commissions...
Developing fundraising ideas in the arts world. Ideas and SWOT analysis Gather together ideas from all of your stakeholders. Include colleagues, volunteers, donors, partners, users, competitors and beneficiaries. For example brain storming (or if you prefer, thought...
Arts and business – plan! Moreover, arts organisations are full of creative and energised people, who want to deliver inspiring work for their audiences. That is to say, they want to put on amazing events that will have people inspired. But that doesn’t mean they...
Not for Profits In this blog I am going to look at the why Not for Profits doesn’t mean Not for Business. To clarify, businesses are typically classified as Private or Not for Profit . Above all , a Not for Profit Business includes many Art Organisations, Charities, Community Interest Companies (CICs) and Social Enterprises. […]
Artists tax: Averaging Relief Artists Tax- Averaging Relief is designed to help artists who have significant fluctuating income from one year to the next. The tax consequence of this fluctuating income could be no tax to pay when profits are low, followed by paying...
Budgets are plans, planning is good, and furthermore budgets are plans with numbers. The budget Every organisation needs sound financial management as part its strategy, finances underpin every aspect of this work. Each activity should be planned and costed, resources must be considered. The budget is the document translating action plans into monetary terms. […]
Firstly, the art of budgeting is quite complex. A budget is a plan expressed in money. It tells your future story in monetary terms. Secondly, budgeting is one of the most powerful business and management tools around. It plays a key part in planning, control, and decision-making. Plan your budget Firstly, decide who is going […]
Business success Firstly, business success, and how you achieve it is often talked about. So, this blog will look at what helps you get business success. What is business success to you? In the beginning you need to think about what success looks like to you. Furthermore, you need ask this question in advance of […]
Tax-free benefits for you and your employees Certainly paying tax-free benefits to yourself and/or your employees is a great situation. Most importantly there is no tax or NIC to pay. In addition, your company can deduct the costs from business profits. Above all the benefit must be paid for. In other words, don’t provide the […]
Business growth Firstly business growth stories tell you: Your profitability What things cost Information on Controlling & managing cash Planning Returns and Information for the Tax authorities, sending in VAT and Tax returns Telling your business story mainly comes from your financial and business transactions. This includes what you’re spending, where money’s coming from, money […]
Business budgeting for success needs the solid foundations of sound financial management built into its overall strategy. For that reason finances should underpin every aspect of its work. Plan and cost your activities, so your resources are properly considered. “Failing to plan is planning to fail,” Benjamin Franklin Likewise Franklin’s words apply to budgeting. Hence budgeting is […]
Not for Profit & private businesses- they all count. Above all, businesses are typically classified as private or not for profit (NFP). Not for profits typically include many art organisations, charities, Community Interest Companies (CICs) and social enterprises. Secondly, some of the main differences between private and NFP businesses is what their aims are and […]