Please note: The information contained in this site is provided for information purposes only and is of a general nature. It is not a substitute for specific professional advice related to your own circumstances. You are recommended to obtain specific professional advice before you take any action. Thank you!
Updated 2023/24 It is simply an account in the balance sheet that summarises the transactions between a company director and the company. In simple terms: An asset is created where the company loans money to the director to be repaid at a later date. A liability is...
Reviews and Testimonials may sound the same but are very different in how they look and come across in language. A review is given on an individual
We recommend that at every month end or at least once a quarter, you check your Accounts Payable and Receivable balances and verify that they are correct. If they are not – you could be under or overstating profits or losses, and you may not be accounting for VAT correctly.
Confused over the HMRC rules for claiming food and subsistence? HMRC will allow you to claim for meals and subsistence in certain circumstances. We have written this article from the perspective of a small business owner/director, and in response to queries from our...
As we have already mentioned in our earlier article, it is possible for directors to claim a work from home allowance under HMRC rules. This allows the director to reclaim an element of the running costs of the work from home office space. Unlike the self-employed,...
As a director working from home, you may be allowed to reclaim reasonable 'work from home' expenses from your company. Flat rate basis HMRC allows you to reclaim a flat rate per month, depending on the number of hours a month you would typically work from home. Well...
When you or your employees spend your own money on behalf of your company, you want the ability to claim it back quickly and efficiently. Tips for effective expense claims management: Always keep a copy of your receipt, no matter how small. The pennies could soon turn...
We're not suggesting anyone goes out and does anything illegal or immoral, goodness no! The secret is to understand how to make your business more exciting, more appealing, more sexy to your existing and potential clients. Think of The Lynx Effect, Cadbury's Flake and...
As an accountant, small business owner and active networker, I meet many Suffolk businesses that are truly booming and others who no matter what they do, can’t seem to achieve the success they desire. So what differentiates the two? Successful entrepreneurs: Have a...
Cash is the lifeblood of the small businesses and we can’t survive for long without it - so what can we do to keep more of it for longer, spend less of it or collect it sooner? There are many, many things we can do to help keep the cash flowing in your business. Over...