You’ve decided to branch out on your own. Your business plan is solid and you’ve chosen how to trade. You’ve sorted your bank account, insurance is covered and you’ve registered with HMRC. You’ve got a swanky new office, your employees are due to get paid at the end of the month and everything feels pretty
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Tag Archive for Accounts & tax
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Brexit uncertainty: What should businesses be doing about tax?
by Owen Gough • • 0 Comments
Increasing levels of uncertainty resulting from Brexit and last week’s Queen’s Speech may leave businesses confused and frustrated about their tax, but uncertainty does not have to mean a lack of control. What businesses should be doing? Make sure that they have a robust business model and strategy to face ‘VUCA’ (volatility, uncertainty, complexity and
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Why accountants should embrace Making Tax Digital
by Ben Lobel • • 0 Comments
Making Tax Digital (MTD) is HMRC’s plan to make it easier for businesses and individuals to get their tax in order and manage their finances – spelling the end for the annual tax return. By 2020, the government wants the UK to be the most ‘digitally advanced tax administrations in the world’. However, the speed
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New government opportunity to rethink tax for freelancers
by Owen Gough • • 0 Comments
Following The Conservative’s deal with The Democratic Unionist Party (DUP), leading contractor tax adviser, Qdos Contractor, has highlighted the opportunity the new government has to make radical changes to the current tax system, and rethink the effect it has on the UK’s 2 million freelancers and contractors. Qdos Contractor CEO, Seb Maley outlined a number
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Tackling slow payers, today and tomorrow
by Ben Lobel • • 0 Comments
As every financial decision maker will tell you, getting customer invoices paid on time is the first step to optimising working capital – the lifeblood for every business. Slow payers can reduce the number of decision making options open to a business, putting pressure on survival, growth or customer relationships. The real question is: ‘What
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Why business owners need to prepare for cheque system shake-up
by Owen Gough • • 0 Comments
October 2017 will see one of the biggest shake ups to the English banking system in years, as the laborious cheque clearing system is forced to acknowledge 21st century technology. Traditionally, once a business or personal cheque is paid into a bank account, the account holder can look forward to waiting six whole working days
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Essential accounting tips for small business owners
by Owen Gough • • 0 Comments
Accounting is unlikely to be your favourite part of running a business but it is crucial to your survival. Running out of money is the reason 29 per cent of startups fail, according to a survey run by CB Insights. So, how can you prevent yourself becoming one of them? Make sure you get to grips
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Bad debts: How your small business can prepare early for late payment
by Ben Lobel • • 0 Comments
Late payments to small businesses continue to rack up – recent research from TaxAssistAccountants reveals that UK small businesses are being prevented from accessing an enormous £266 billion that is rightfully theirs, because of late payments from suppliers. Needless to say, these delayed payments can be extremely detrimental to the financial health of a small
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Is accountancy software enough?
by Owen Gough • • 0 Comments
Learning to drive can be a bumpy road. You need support and guidance as you learn an important life-long skill. You wouldn’t practise in a car without an instructor and the same applies when learning the skills needed for digital accountancy. You need the right advice from an expert. Here, Richard Stonier, partner at Tally
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Getting to grips with international payment as a small business owner
by Ben Lobel • • 0 Comments
Ensuring that employees are paid in full and on time is crucial to the success of any business, especially in a smaller company where employees can be a very significant asset. However, as employing workers overseas or seconding employees on international projects continues to become more common, many companies are wrestling with the process of
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