Latest News & Updates
Temporary Workplaces and Tax
Temporary Workplaces and Tax, well where do you work matters for your taxes. Before COVID , most employees worked at a permanent workplace. This was usually the same office every day. Now, many people work from home and the office. Flexible working is common, and it...
Facing the Lonely Road of Business Ownership with Confidence
Understanding the Isolation of Business Ownership Business ownership often feels like a solitary journey. Although we set out with excitement and purpose, the weight of responsibilities can make the road feel isolating. Despite having a clear vision, the...
Reporting Residential Property Gains
Selling a second home or investment property means Reporting Residential Property Gains. Owners must report residential property gains and pay capital gains tax (CGT) within strict deadlines. Failing to comply can result in penalties and interest charges. Why Sell a...
Breaking Financial Jargon Down for Business Success
Understanding Financial Jargon Financial jargon can often feel overwhelming. However, learning these terms is crucial for business success. Comparatively, understanding financial terms is like tending to a garden—each concept plays a role in keeping your business...
Understanding VAT & Dealing With It
Understanding VAT and dealing with it is the focus of today's blog. Value Added Tax (VAT), or as many call it, Very Awkward Tax, is a critical part of UK business. Whether you're a sole trader, a limited company, or a non-profit, VAT affects you. Understanding VAT...
How VAT in the UK Works and How to Stay Compliant
VAT in the UK is a crucial tax that affects businesses and consumers alike. It applies to most goods and services, making it essential for companies to understand their obligations. Furthermore, businesses must register for VAT if their taxable turnover...
Starting a Business as a Sole Trader
Starting a business as a sole trader means lots of decisions to make and stuff to do. One of the first questions is whether to run the business as a sole trader to set up a partnership with others or whether to form a company How you operate your business determines...
Understanding Your UK Business Tax Obligations
UK business taxes impact every company, regardless of size or industry. Accordingly, understanding tax obligations helps businesses plan effectively. Additionally, knowing the different taxes applicable ensures compliance while avoiding penalties....
What You Need to Know about Tax Basics for Self Employed
Tax basics for self employed individuals are crucial for managing finances effectively. Unlike employees, we handle our own tax affairs, meaning we must register with the tax authorities, keep accurate records, and file tax returns on time....
Can’t Pay Your Tax Bill? Here’s Your Action Plan
If you landed on this page, I’m assuming you’re struggling to pay your taxes on time. But, don’t worry - you’re in the right place. This blog aims to give you the steps you need to take if you can’t pay your tax bill, and to give you some peace of mind. So, read on....
You can’t pay your tax bill. What can you do?
What to do if you can’t pay your tax bill is a challenge many face, but there are solutions. Firstly, it’s important to stay calm and take action immediately. Ignoring the issue will only make matters worse. Additionally, remember that tax authorities...
8 Cash Flow Forecasting Tips to Improve Accuracy
Cash flow forecasting might sound like a big deal, but it is really not. It is just about making sure you know how much money is coming in and going out of your business. If you get it right, you can avoid running out of money and be ready for anything. So, that’s...
Forecasting and How to Predict Your Cash Flow Like a Pro
Forecasting is crucial for running a successful business because it helps us look ahead and prepare for potential challenges effectively and strategically. While understanding historical performance is important, we must equally focus on what lies ahead and adapt to...
How to Manage Cash Flow Effectively: 8 Expert Tips
Managing cash flow is vital for running a successful business. I can testify to this personally as well as from my 30+ years of experience helping clients manage theirs. No matter what kind of business you have, a steady cash flow ensures your business stays...
Essential Cashflow Management Strategies for Your Business
Cashflow management is undeniably critical for the survival of any business. Although profits may sustain you temporarily, businesses cannot thrive without steady cash flow. Consequently, managing cashflow ensures that your business can handle unforeseen...
5 Common Billing Mistakes and How to Fix Them
Small businesses can often struggle to make ends meet if they don’t have a good billing process in place. That’s why, in this blog, we’ll focus on the 5 common billing mistakes that can hurt your financial health and how to avoid them. The general topic of this blog...
Tips to Avoid Payment Delays Caused by Billing Mistakes
Billing mistakes can severely harm your cash flow and lead to unnecessary stress for your business. Because of poor billing practices, many small business owners find themselves struggling to keep their financial health intact. Consequently,...
Paperwork for Dividends: What You Need to Stay Compliant
Dividends are one of the most efficient ways for company owners to take profits from their business. However, there’s more to paying dividends than just transferring money. If you’re a director of a limited company, it’s your responsibility to be in the know about...
Dividend Paperwork and Documentation for Legal Compliance
Dividend paperwork and documentation are crucial for ensuring compliance with legal regulations. Certainly, adhering to the Companies Act is non-negotiable for limited companies, regardless of size or shareholder structure. Proper records not only...
How Dividends And Director’s Loan Account Work Together
Dividends are a popular way for company owners to take profits from their business, but they need to follow the proper rules.If you’re a director and shareholder of a limited company, dividends might already be part of how you pay yourself. However, you need to...
Director’s Loan Account and Dividends
Dividends and the Director’s Loan Account are essential topics for any business owner who operates through a limited company. Firstly, dividends represent payments made to shareholders from a company's post-tax profits. Unlike wages, dividends do not...
Reverse Charging VAT Explained: What It Is And Why It Matters
Running a business in the UK - we know it comes with its fair share of tax responsibilities. And VAT is often one of the most confusing areas, especially reverse charging VAT. It's something every business owner, freelancer, or entrepreneur needs to understand....
Reverse Charging VAT in the UK
VAT reverse charging fundamentally shifts the responsibility of VAT accounting from the seller to the buyer. Unlike traditional VAT transactions where sellers collect and pay VAT to HMRC, the buyer handles the VAT declaration instead. Consequently, this mechanism...
Limited Company Taxes In The UK: Everything You Need To Know
Running a limited company in the UK can open up exciting opportunities. But it also comes with its fair share of responsibilities, particularly when it comes to taxes. For many business owners, the thought of dealing with tax obligations can feel overwhelming or even...