Most people think that there’s not a lot in common between accounting and the arts. But the two do have something in common – money. Even artists have to eat, and to make a living as an artist, you have to make money. It’s not about winning million pound commissions...
There is a lot to be said for Artists and Businesses working together Today's topic is about artists and businesses working together. Let me share three tips about how to get the best out of that working relationship Artists working with business doesn't seem like a...
Working together with others on your business is good for your well-being, growth and bottom line. Don't forget that making money separates a hobby from a business. In this week’s episode of ‘l Hate Numbers’ I share four reasons why you should work with others. This...
What’s it like being self employed? The reality, not the fiction. If you’re thinking of taking the plunge then have a real good think about it! When you are self employed you will at times feel like you’re spinning hundreds of plates on sticks. It can be really...
The Risks of Self-Employment is sometimes ignored. Freedom is something that everyone looks forward to when self-employed. More time for yourself, live life on your own terms. However, just like the business and financial risks, there are personal and lifestyle risks...
Most importantly, self employment is a risky business, but what in life is risk free ? Certainly, a great number of individuals dream and think about being self-employed, your own boss, your own path. Many do make that move from dream to action, for most this proves...
Tax, you can't avoid it. If you are a business owner tax and your self-employed business is something you consider. If you don't take tax into account, 'bites and arses' will figure somewhere. Today's blog will talk about the tax and your self employed business. In...
Above all, when setting up a business one of the first considerations you will have to make is whether to operate as a Limited company vs sole trader. At its core, what this means is the distinction between you and your business. To clarify, a limited company...
Today’s episode of I Hate Numbers is about Bookkeeping: Your business words. Travel back to Ancient Mesopotamia, Babylon, Assyria & Sumeria and you will see they have got their bookkeeping & accounting sorted. Documents from ancient Mesopotamia show lists of...
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...
Today's blog is about how to achieve calm amid the business storm. The business storm is due to the current Covid 19 situation, it could be something else. Firstly although it's worrying uncertain times at the moment, however like with all bad situations there will...
Business plan: Final steps This blog looks at your Business plan:Final steps. Above all, it follows on from our previous blog where we mapped out the initial stages. Management To clarify, people reading your business plan need to be given an idea of why they should...
Xero Accounting - Start today Sign up and Free up some of your precious time with Xero & Cloud Accounting Xero: The benefits to you and your business. Get started with Xero and you won't look back Firstly, taking on new systems can be daunting, however cloud...
Bookkeeping: Number collection follows on from our last blog post- Loving numbers. Previously we talked about loving numbers and why they need love. Today, we want to talk to you why and how you collect those numbers, those 'words' to tell your business story....
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...
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...
Xero is a powerful Business Information System, and not just a record keeping system. Every business, however big or small you are, should know some essential things about their business. Xero is a Cloud Accounting system, it is our platform of choice, not...
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...
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 […]
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 […]
Company cars: Are low emissions cars tax efficient? First of all significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs). The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price. It includes the full value of […]
Credit control- Getting paid on time Firstly, credit control and getting paid on time is crucial for all businesses. You need money to pay bills, staff wages, repay loans, investment, and also to pay yourself. Most importantly, if your business doesn’t get paid on time, you are heading for financial problems. So get your credit […]