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!
This guide looks at how financial planning can help you realise your goals for you and your family Consistent financial planning is essential to growing your wealth and building your financial security. A plan that is on course to meet your expectations in later life...
Everything you should know about paying dividends Dividends are payments made by a company to the shareholders if it has made enough profit. For the very small owner/manager business, dividends will form the bulk of their income and so must be managed carefully. The...
If you employ anyone under 21 years old you will no longer have to pay Class 1 secondary National Insurance contributions on earnings up to the new Upper Secondary Threshold (UST) for those employees. The employee will still continue to pay employee NICs. This change...
Travel subsistence is often a very grey area within HMRCs rules and regulations so it is important to understand exactly what you can reclaim without incurring a tax penalty. These should be carried out in the same manner as any other expense claim which means this...
The flat rate VAT scheme is designed to reduce the cost of complying with VAT obligations by simplifying the way small businesses calculate their VAT. Designed to save time and money - but could it work for you? Read on to find out more. How does the flat rate VAT...
Many banks will set you up with a company credit card when you set up your business bank account, others will make you wait until you have been in business long enough to establish a credit record before allowing you to apply for business credit cards. They can be a...
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...