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Financial forecasting is a must for any successful business. Many different factors and industry changes can affect the way you do business. Preparing financial projections can help you plan ahead and provide a baseline for any changes outside of your control. Our helpful accountancy guide answers ‘what is a financial forecast?’ and dives in on
Tax dates seem to creep up on us every year. Remembering these dates as a business is important to avoid late fees or fines. To make sure your financial year is organised, we’ve listed the tax calendar for the year below. Tax dates to remember in 2024 A 2024 tax calendar is helpful for remembering
For small businesses, finding opportunities increase profits is an essential element to a growing company. National Insurance Relief can be an efficient problem solver to the question of how to cut costs. Read on to find out what National Insurance relief is and how your business can claim it. What is National Insurance relief? As
Profiting off a hobby or a side hustle can be a great way to earn some extra cash. But, do you have to pay tax on hobbies? And what are the hobby tax rules? We’ve got a guide on all you need to know below. Take a look. What’s the difference between a hobby and
Corporation tax penalties occur when you haven’t filed your tax on time or if you have provided inaccurate information to HMRC. The amount you have to pay depends on how late you are to file or if they believe the inaccurate information was deliberate or not. We’ve got a guide on everything you need to
If you have your own limited company, you might be wondering if you can employ your family members – and if so, are there any rules regarding this? See our guide below for all the details on employing family members. Can small businesses employ family members? Yes, a small business can employ family members –
Bookkeeping for small businesses is important for financial purposes and business growth. You’ll always need to make sure your books are in order. Find out the answer to ‘what does bookkeeping mean?’, why it’s important and more below. What is bookkeeping? Bookkeeping is a big part of accounting for any business but what exactly does
Making tax digital (MTD) is a must-know for business owners. We’ve made an easy guide on what this new UK government scheme is and how it can affect you. Read on to find out more about MTD for small businesses. What is making tax digital (MTD)? Making Tax Digital is a scheme from the UK
In 2021, the UK Government announced a change in corporation tax. Currently, there is a flat rate of 19%, but this will change as of April 2023. Knowing the corporation tax rise for 2023 is a must for businesses across the UK. See how it will affect your small business by reading on. What is […]
Tax codes can be confusing. Whether you’re self employed or work for an employer, it’s important to know how much tax you’re paying and how your tax is calculated by HMRC. You’ll also need to take into account things like self-employed pensions and tax relief, or tax implications if you’re freelancing whilst working. Make sure
