Outsourcing your credit control Credit control is a vital part of running any business. A business owner has so many things to deal with when running a company that it is easy to take your eye off your finances especially unpaid invoices. Each year thousands of start-up businesses go bust due to unpaid invoices by…
You must keep records of all your business’s income and expenses for your self assessment if you are a sole trader. What records to keep* Monthly Income – sales invoices* Monthly expenditure – all business expenses* VAT records if registered for VAT* Paye records if you have employees* Monthly bank statements If you work from…
The answer to this is no however, there are many reasons why the vast majority of limited company owners do use accountants, instead of doing the books themselves. The right accountant will save you time and money year after year.If you are just starting up the accountant will take on the role of business advisor…
Sole traders must register with HMRC and follow certain rules on running and naming their business. If you’re a sole trader, you run your own business as an individual and are self employed. You can take on staff – being a sole trader means you’re responsible for the business, not that you have to work…
HMRC allow a business to spend £150 tax-free on each employee at the Christmas party. HMRC Rules for eligibility: A gift to a client HMRC allows gifts worth up to £50 to a client in each tax year. HMRC Rules for eligibility: A gift to staff It’s worth remembering that all Christmas gifts to staff are classed…
Start Up Loans Loans and mentoring for people over 18 years old who are looking to start a business. Backed by the Business Bank. Eligibility To apply for a loan you must be: Additional information Start Up Loans is a government-funded scheme that funds and mentors entrepreneurs. You’ll have a delivery partner (assigned by the…
