Nearly half of the UK workforce are now working from home, and for many, it’s a new experience. Far from being an opportunity to relax in front of the television and send a few emails, it actually brings its own challenges. The ongoing coronavirus pandemic and social...
The first Coronavirus furlough grant claim portal went live on Monday 20 April 2020. What does that mean for your business. Well, it means that if you have furloughed staff, you can claim that much needed grant money. We have submitted Furlough claims for all our...
The first Coronavirus employer grant claim portal went live on Monday 20 April 2020. This has been updated as of 31-Oct-2020 to reflect the fact that the November 2020 Furlough scheme will be in line with this. We've updated this article to reflect the new scheme. ...
Firstly, your business cash story is a big deal. Secondly, it’s a big deal for business continuity, survival, and growth. This requires cash. Profits are what it’s ultimately about, but cash makes sure you get to do it. Sales are vanity, profits are sanity, cash is...
This article on Furloughing and COVID 19 money was updated on 31-Oct-2020. Most importantly, furloughing is there to help those employers maintain a workforce. So, let's kick off with the meaning of furlough. A furlough is a temporary leave of employees due to...
Covid 19 financial support update, above all it's vital to know if you run a business, whatever shape or form that is. Most importantly, look at your numbers. Certainly numbers are your business best friend; they won’t lie to you. Do your cash flow first, this will...
f you want your business to carry on, survive then and thrive learn to understand and keep an eye on your gross and profit. If you don’t do this then you are missing a trick, and your business can suffer and lose money
Getting paid on time Getting paid on time and keeping business cash flowing is the most important thing to keep your business wheels rolling. It’s the life-blood of any business and you need it to survive, sustain, and grow. You need cash for a whole variety of...
Above all, a business is there to make money. It’s your primary responsibility. Money means profit. It doesn’t make any difference whether your business is a private business, social enterprise or charity. Some headline reasons for making profits include: No...
Self Assessment Firstly, Self Assessment was introduced by the Inland Revenue (HMRC) in April 1996. Secondly, this tax system used to assess and collect Income and Capital Gains Tax. This vlog looks at How to prepare your tax return 21-22 Some important things to...
Xero: Two-Step Authentication gives an extra level of security and helps keep your Xero account safe
Tax Return: Dates and payments To clarify, the two previous blogs have looked at who must prepare a personal tax return, and what can be claimed. Your personal tax return includes details of your income and capital transactions. Our focus today is 2020-21, 6th of...
To clarify, making the correct Construction Industry Scheme (CIS) deductions is one of the schemes conditions. So, are you doing it correctly? Firstly are you working in construction? Secondly are you a contractor, subbie, advisor, all of those? If so this article will/should provide some value. Payments to sub-contractors: travel, subsistence and accommodation Under the Construction […]
Personal Tax: What expenses can we claim? Today, we will tell you what expense claims can be made for your Personal Tax Return. Previously we talked about that, pencil in the aorta time, tax return season. I get loads of clients saying, Mahmood, we’re putting our...
Firstly, Personal Tax return season (Self Assessment) 2019-20 finishes on 31st January 2021. Secondly, you may have done yours, so relax, but if you've not read on. I'll start by looking at the first steps and then proceed from there. Some important stuff to things...
First of all Record Keeping in The Cloud deals with a business task neglected and disliked by many. Similarly Cloud accounting does the power lifting of record keeping. Furthermore it saves time, money, and gets businesses to connect to. Hence letting you take charge...
Budgets: Setting Targets Budgeting involves setting targets. Clear targets motivate people to high performance levels. Budgets are your stories of tomorrow. They show choices, aims and objectives. Targets are typically shown in terms of money, i.e. income, costs and...
Budgets are plans, planning is good, and furthermore budgets are plans with numbers. The budget Every organisation needs sound financial management as part its strategy, finances underpin every aspect of this work. Each activity should be planned and costed, resources must be considered. The budget is the document translating action plans into monetary terms. […]
Firstly, the art of budgeting is quite complex. A budget is a plan expressed in money. It tells your future story in monetary terms. Secondly, budgeting is one of the most powerful business and management tools around. It plays a key part in planning, control, and decision-making. Plan your budget Firstly, decide who is going […]
Value Added Tax (VAT) registration, doing it sooner and being an unpaid tax collector seems crazy. It looks complicated, not to mention time-consuming. However, with the right help and guidance, VAT registration, operating it and invoicing are straight-forward and easy to navigate. Your business must register for VAT if Your taxable supplies, including zero-rates sales, […]
The importance of record keeping In this blog and video we look at Why record keeping is key to your success . Bookkeeping, or keeping financial records is vital. More importantly you need to know what you are spending. You need to know where your money’s coming from. Making good judgements when you have complete […]
Making money is what business must do! Most importantly, where we say business, we mean private or not for profit. Likewise when we say money, we mean profit. Furthermore, don’t dismiss: • How you make that money • What your business values are • The amount of money you want to make; and what you […]
Have you ever wondered what TRUST has got in common with credit control? Furthermore, why is TRUST in business so important? “If people like you they’ll listen to you, but if they trust you, they’ll do business with you.” Zig Ziglar. As a matter of fact, the concept, idea and practice of TRUST is a […]
Business success Firstly, business success, and how you achieve it is often talked about. So, this blog will look at what helps you get business success. What is business success to you? In the beginning you need to think about what success looks like to you. Furthermore, you need ask this question in advance of […]