SMEs
New HMRC service allows businesses to set up online payment plans for VAT owed
Jun 13, 2023
HM Revenue & Customs (HMRC) have recently confirmed that businesses that owe less than VAT £20,000 can now set up a payment plan online. The measure, which came into effect on 31 May 2023, is part of a wider project from ...
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Essential financial metrics every business owner should track
May 30, 2023
Understanding the financial health of a business is integral to its success, regardless of the industry or the size of the operation. By keeping an eye on vital financial metrics, business owners can make data-driven strategic decisions that can drive their ...
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Key factors to consider when starting a business
May 25, 2023
Setting up a new business is not merely about innovative ideas or immense passion. It also demands careful planning and research. Running a thriving business is not without its obstacles, however, the potential for rewards makes it a journey worth undertaking. It ...
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Strategies for SMEs: Surviving the interest rate hike
May 16, 2023
As interest rates in the UK rise, small and medium-sized enterprises (SMEs) will undoubtedly feel the pinch. Interest rate changes can be effectively managed by SMEs by reviewing and altering the financial processes within their organisations to ensure outstanding debts are ...
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Employee expenses and benefits: How to submit a P11D form
Apr 25, 2023
Do not be stung when rewarding employees. Avoid penalties on employee benefits by correctly submitting P11D forms. ‘Benefits in kind’ are great perks for employees and a great way for employers to show their appreciation for hard work and valuable contributions. But ...
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Understanding IR35 and its implications for employers
Apr 20, 2023
If your business engages off-payroll workers, it's essential to be familiar with IR35 and its potential impact on your operations. IR35 – what is it? IR35 is a tax legislation aimed at ensuring that workers pay the appropriate amount of tax and ...
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How can you prepare for the basis period reform?
Apr 14, 2023
We are currently in the transition period for the basis period reform, which is set to come into full effect from the 2024/25 tax year. So, if you run an unincorporated business, you need to be prepared for the upcoming changes. What ...
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Preparing your business for the summer
Apr 11, 2023
If you run a business in a tourist hotspot, you need to get prepared for the summer. As the days get warmer, your business is likely to see a surge in demand. But what can you do to get ready? Recognise the ...
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What salary should I take as a director of a limited company?
Apr 06, 2023
Being a director of a limited company means having the ability to pay yourself in a different manner to being a typical PAYE employee. In the context of a limited company, it is common for the director to receive a salary ...
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Is your business ready for the new tax year?
Mar 30, 2023
Getting the tax year off to a good start will help you to optimise your overall financial position. But you need to plan ahead. Effective planning helps you to keep your business organised and compliant. It also enables you to maximise ...
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