Blog Archives

What Does a Balanced Budget Look Like and Why Should Your Business Have One

Accounting software can help you easily stay on top of your accounts and help your accountant file your tax return.

No matter the size of your business, being fully aware of your income and expenditure is of paramount importance. If the accountancy spreadsheets are unbalanced, or you’re simply unaware of certain outgoings, profit margin and the company itself will suffer.

Posted in Small Business Advice

The Only Reasonable Excuses for Filing your Tax Return Late

scrabble letters tax return

Although filing a tax return late will incur penalties, you are allowed to appeal the decision should there be a reasonable excuse. The government provides a list of these acceptable excuses on their website, ranging from situations outside of your

Posted in Business News, Small Business Advice, Tax Tips

How to Easily Set Up Your Employees Pension Scheme

If you're an employer, you need to enroll in the Workplace Pension Scheme.

Every employer in the UK must place their staff into a pension scheme and make contributions into it. This is known as ‘automatic enrolment’ and became a legal requirement under the 2008 Pensions Act.

Posted in Limited Company Advice, Small Business Advice

Choosing the Right Business Structure – LLP, Limited or Sole Trader?

Before registering a company in the UK, you will need to consider which trading form suits your type of business. There are various aspects to take into account before you reach a final decision, including industry regulations and tax considerations.

Posted in Small Business Advice

Client Cancelled? Quick! You Have These Rights

Freelancing holds many advantages for both the individual and company. There are relaxed hours for the worker. often from the comfort of home, whilst the employer will be streamlining costs by appointing someone on an ad hoc basis. However, what if

Posted in Small Business Advice

Learning More About HMRC Penalties for Businesses

Businesses in the UK have a responsibility to complete tax returns accurately and on time. If discrepancies are found or deadlines aren’t met, the HMRC will impose penalties on the company depending on the amount owed and degree of lateness.

Posted in Small Business Advice, Tax Tips

Investments Versus Expenses: What’s The Difference?

The difference between an investment and an expense can be defined as follows; An investment denotes spending money with the expectation of receiving a return on the original outlay, hopefully by making a profit. An expense is most likely to

Posted in Small Business Advice

Legal Issues You May Face with Business Loans

Start-up companies are susceptible to a whole host of legal mishaps that can damage the progression of the business. Even if the mistake is completely unintentional, serious legal issues are something all business owners want to avoid.

Posted in Small Business Advice

Why You Shouldn’t Try Do it Yourself Accounting

For the majority of business owners, dealing with monotonous accounting figures isn’t what they imagined when setting up the company in the first place. However, it is a compulsory part of the job and required by the HRMC for tax

Posted in Small Business Advice

Does a Small Business Need a Business Plan?

No matter the size of your business, a suitable plan must be in place which outlines the company’s basic objectives and how they can be achieved within a certain timeframe. This plan should determine your long term goals and can

Posted in Small Business Advice