Many business owners start their business as sole traders, and as their business grows, they may decide to upgrade to a limited company. Changing from sole trader to limited company offers many advantages, including tax efficiency, business credibility, limited liability of the business owner, and protection of your business name. However, a limited company involves …
How to Change from Sole Trader to Limited Company? Read More »
In a post-Covid world with travel restrictions and UK property prices continuing to rise, more and more people are considering the opportunity to work abroad. However, contracting in the UK while working abroad needs to be planned and thought through to ensure you take into account tax implications, visas, company formation, work permits, social security …
Important to Know Before Contracting in the UK from Abroad Read More »
Talk to any business owner and there’s a good chance you’ll be hit with a late payment on an invoice at some point. Research from the Federation of Small Businesses shows that a third of payments to small businesses are overdue, with an average value of these overdue invoices of £6,142. If small businesses were …
How Small Businesses Can Deal with Late Payments? Read More »
The cost of bookkeeping service could be as low as £20 per month or as high as £2000+ per month. What is the reason for such a huge variation in cost? It’s all due to every company having its own different requirements. The expenses a small company incurs in bookkeeping services will vary based on …
How Much Do Bookkeeping Services Costs For Small Businesses? Read More »
The Personal Tax Account was introduced at the end of December 2015 and was designed for the purpose of helping “revolutionize the way customers interact with HMRC” and helping individuals to manage and review their tax obligations online. It is accessible online through the government portal. It is a web-based service that lets people be …
Starting a business can be an exciting chapter in life, and managing accounts as a small business can be a difficult task. It can be tempting to put all your energy into the aspects of entrepreneurship that give you the most joy and reward. However, it’s crucial not to be doing this at the expense …
How to Manage Accounts as a Small Business Owner? Read More »
Cloud accounting software is a tool that helps accountants, bookkeepers, or business owners manage and automate a business’s accounting transactions and accounts. In a nutshell, accounting software helps you automate tasks in the accounting process. For example, you can automate the process of creating a journal entry each time a payment is made through your …
What are the Cloud Accounting Software Advantages & Benefits For Any Business? Read More »
Introduction If you are self-employed and have multiple sources of income, you need to learn to pay a self-assessment tax return annually. The self-assessment tells HMRC about your financial situation, how much money you have earned this year, and other financial circumstances so that HMRC can calculate the payable amount of tax. This method is …
An Ultimate Guide to How to Pay Self-Assessment Tax Read More »
Limited companies have to pay corporation tax. Corporation tax includes profits of the company and any gains from assets sold (Land, property, or shares) that have appreciated in value. Partnerships and sole traders don’t have to pay corporation tax. Instead, they pay income tax on business profits and capital gains tax on any gain from …
What is Corporation Tax and How to Pay Corporation Tax? Read More »
The bookkeeper is an individual who assists companies and other organizations keep their financial affairs in order. Bookkeeping is a crucial aspect in the running of your business but how much do you know about the profession that makes mathematical magic? Let’s examine what is a bookkeeper, what are their responsibilities, and what are the …
Who is a Bookkeeper and What Does a Bookkeeper Do? Read More »
