Management Accounts consist of regularly updated reports for both internal managers and external stakeholders or investors. These reports deliver essential financial data that demonstrates your business’s operational effectiveness. While not compulsory, Management Accounts facilitate improved decision-making and enhanced monitoring of your progress ...
READ MOREIf you choose to offer certain benefits to your employees, then you may incur additional Class 1 National Insurance (NI) liabilities which must be reported to HM Revenue & Customs (HMRC). This applies to benefits known as ‘benefits in kind’ (BIKs), ...
READ MOREMany believe that business plans are only necessary for start-ups and new enterprises. Maintaining an active business plan throughout the life of your business can ensure its continued success. Creating a business plan may seem daunting, but with clear priorities and guidance ...
READ MOREIn a new initiative designed to reduce paper use and unnecessary confusion, HM Revenue & Customs (HMRC) has announced a significant change to the way that taxpayers are notified of a repayment. From 8 April 2024, HMRC will no longer send ...
READ MOREApril Fool’s Day, a time of jokes and jests, may have been and gone... But it just so happens that April Fool’s Day falls just before the start of the new tax year (6 April) when numerous businesses will be targeted ...
READ MORETax efficiency is one of the major deciding factors between different types of companies, particularly for growing businesses which need to minimise costs. A partnership is one of three main company types that you might choose from, in which two or ...
READ MOREThe law surrounding redundancy for new parents is set to change from 6 April. This will offer enhanced protection from redundancy for those who are pregnant, on shared parental leave, or taking time off for adoption. If you need to make redundancies ...
READ MOREWriting a business plan should be one of your first steps when starting your business. If you have a business without a plan, it’s not too late to make one! In short, a business plan should set out everything about your ...
READ MOREInvesting in Environmental, Social and Governance objectives (ESG) and sustainability is becoming more popular for business owners at every level. However, overhauling business processes and purchasing new, greener assets can present a significant cost to SMEs and businesses without large cash ...
READ MOREThe UK economy is built on SMEs and innovative entrepreneurs. In 2022/23, over 800,000 new businesses were registered nationwide, an increase of 6.4 per cent on the previous period. SMEs are significant contributors to wider economic health and their continued existence ...
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