Whether you are a professional or a reluctant landlord, many people are unsure of the tax implications of owning their property in a limited company and whether this would work out more financially beneficial for them. The answer is, as it usually is, that it depends on your personal circumstances and [...]
HMRC want all people you “employ” to be on your payroll and for taxes to be deducted from them at source and paid over each month. The reality is more complicated. More and more people are demanding flexible working and do not necessarily want to be tied into a traditional employee [...]
As the new tier system kicks in, many businesses are finding themselves facing tough times and some very difficult decisions this Christmas. Over the last six months, you have probably already had to make some hard choices, as your business has seen its work dry up and its income drop off [...]
In a taxes popularity contest, Inheritance Tax would be in last place! Also known as the Death Tax, Inheritance Tax (IHT) is a tax you pay on the value of your estate after you die. Many people are motivated to minimise IHT to benefit their surviving relatives. After all, you have [...]
It has been widely reported that, in order to pay for the support provided during the lockdown, taxes will need to rise. This is no major surprise, after all, there is no magic money tree, and the support must be paid for. The issues that the Government face are complex and [...]
A Cash flow forecast is used to predict your business’s future financial position for the period ahead. Your forecast allows you to see what money you expect to be paid into the business and the amount you’ll need to payout. It’s a useful tool to help you manage your business more [...]
The last 5 months have seen a seismic shift in most areas of British Life and personal finances have been no exception. With the uncertainty that Covid-19 has caused we have seen unprecedented government support, a crash and rally of the stock market and mass redundancies. We thought it would be [...]
A Cash flow forecast is used to predict your business’s future financial position for the period ahead. Your forecast allows you to see what money you expect to be paid into the business and the amount you’ll need to payout. It’s a useful tool to help you manage your business more [...]
Most business owners immediately think of the bank or loans when they’re short of cash. But there are many more resources you can tap before you ask for that expensive overdraft or an overdraft extension. You can often free up funds from within your business by re-examining your business systems, and [...]
A good credit control system is worth its weight in gold. The system doesn’t have to be over-complicated; it simply needs to be systematic and capable of applying increasing pressure on the late-paying customers without upsetting the good ones. If you haven’t got these steps in place in your credit control [...]
