Effective financial record keeping is crucial for any business owner to maintain compliance with tax regulations and gain a clear understanding of their financial status.
The VAT filing deadline is approaching: How to get prepared
It’s important to stay up to date with the latest regulations and requirements related to taxes, including Value Added Tax (VAT) to avoid penalties.
How to navigate your first year as a business
Starting your own business is a major achievement and you will have spent a lot of time planning this venture and hoping for success.
Time is running out to check your National Insurance record
Are you planning on claiming the UK state pension? You must check your National Insurance (NI) record before 5 April 2023.
How can you deal with VAT return errors?
If you are running a business, handling VAT returns can be complex. You may have submitted returns with errors previously if you were unsure of what to do and could be at risk of further investigation or fines from HM Revenue & Customs (HMRC).
Top tips for starting a hospitality business
Are you hoping to run a successful start-up in the hospitality sector? As an ever-changing and competitive market, the road to success is often paved with challenges, requiring a considerable amount of time, patience, and hard work.
What happens if your directors’ loan account is overdrawn?
If you are a shareholder and director, a directors’ loan account can be a useful financial facility both for you personally and for the company as a separate legal entity.
Avoid these costly VAT mistakes
Small business owners need to take measures to avoid costly mistakes when it comes to calculating, reporting and paying Value Added Tax (VAT). The best way to prevent errors and stay on the right side of HM Revenue & Customs (HMRC) is to have an expert take care of your VAT affairs. Having a qualified […]
What you should include in a business plan
Business plans provide goals to work towards, help identify potential problems, give insight into competitors, and highlight potential opportunities. A great business plan should include a concept, strategy, executive summary, market analysis, competitor analysis, the company’s financials and a clear action plan. Concept This part of the business plan is usually broken down into three […]