How to pay yourself from your business Every year when the personal allowance and the tax bands change, one of the biggest dilemmas you face if you run a limited company is how much to pay yourself and what type of income is best (dividends versus salary) for your business. In this article, we outline […]
Director’s Loan Account Explained Taking money from the business for personal use when trading as a sole trade or partnership is normally easy and straightforward; and unless proprietors’ drawings are a major drain on the business’ assets, there are generally no tax implications. However, a company is a separate legal entity and, therefore, making withdrawals […]
12 Reasons to Keep Good Bookkeeping Records When it comes to bookkeeping records we all seem to acknowledge that things could be done better. But why is keeping good bookkeeping records important? Here are twelve reasons why it’s so important. 1. Enables you to manage your business and make it grow No one knows your […]
Why SMEs Need an Accountant According to Taxing Times, a new report from the Federation of Small Businesses (FSB), the average UK small business spends three working weeks a year on tax compliance. If you’re a SMEs business owner, isn’t it time you gave yourself a break? Time-Consuming Taxes The report found that SMEs businesses consider Value Added […]
Card payments are on the rise everywhere. Soon enough “can I pay in cash?” will be a more common question than “can I pay by card?” It’s easy to see why this is. It’s often more convenient to just use your card than it is to withdraw money from a cash machine first. There’s no […]
Spreadsheets may have served you well, but is there a better way for you to keep your business’ books up-to-date? Have you thought about Cloud Accounting? Rather than having your time taken away from you by the mundane task of inputting data into a spreadsheet, which you can only do from one computer, why not […]
25th May is just around the corner, and with it the deadline for getting your head around the European General Data Protection Regulation (GDPR). You should have your ducks in a row and ready, but do you? Do you know everything you need to know about GDPR and what it means for your small business? What […]
Spring Statement 2018 – gives people and businesses certainty and stability to plan for the future Major tax or spending changes will now be made once a year at the Budget in the Autumn. The Spring Statement: gives an update on the overall health of the economy and the Office for Budget Responsibility (OBR) forecasts […]
The government have issued information on how Making Tax Digital for Business is expected to work for VAT once the rules are introduced in April 2019. Under the proposed rules, which have been issued subject to consultation, VAT registered businesses with turnover over the VAT registration threshold will be required to submit their VAT return […]