Did you know that good bookkeeping can boost business performance by up to 20%? Bookkeeping is key for keeping financial records accurate. It's vital for any business, big or small. Without it, financial mistakes can cost a lot. Bookkeeping helps manage cash flow and makes sure we follow the rules. It helps us track money […]
This article has appeared in this months’ Business Network magazine: ‘Small business owners have been told that looking after the books is a waste of their valuable time and they should concentrate on running their business . That was the advice given to small business leaders by Garry Carter, Chief Executive of the Institute of […]
I recently attended an ‘Employer Compliance’ seminar for professional accountancy bodies. It was run by an experienced tax consultant with 23 years experience as Senior Tax Officer for the HMRC. Employers have a legal obligation to operate PAYE on payments to employees above the National Insurance Lower Earnings Limit (LEL). Employers are also obliged to pay over to […]
Many new business owners come to the conclusion that they can easily do their own bookkeeping themselves. After all, how difficult can it be, right? They think that with all the great accounting software available today that it should be a piece of cake to take care of it themselves. Nothing could be further from […]
Cash flow refers to the money coming into a business from selling its products and the money it spends on all aspects of production. Ideally, you will have more money flowing into the business than out. This will allow you to build up cash balances to deal with short-term costs – such as bills or expenses […]
Did you know that the HMRC Business Education Support Teams (BEST!) run a range of free workshops across the country? This may leave some business owners struck cold with the thought of long complicated lectures on tax calculations! But don't panic -most Workshops only last two hours. How do they help? Workshops are run on a variety […]
Small to Medium business enterprises need to keep pace with competitors in the market and, in an increasingly global market economy, need to be able to react internationally if overseas business opportunities arise. Investing in IT has never been so important for business and can really deliver increased turnover. Great link to short video below explains […]
HM Revenue & Customs (HMRC) plans to phase out paper VAT returns. From April 2010 you may have to submit your VAT Returns online and pay any VAT due electronically (for example by Direct Debit).
The Federation of Small Businesses (FSB) has welcomed the chancellor's decision to defer the one pence rise in corporation tax for small firms. Read more... http://newsvote.bbc.co.uk/1/hi/business/8403218.stm
Q&A: The pre-Budget report and you http://news.bbc.co.uk/1/hi/business/8403681.stm
