Most people have straightforward tax affairs that are dealt with through the Pay As You Earn system. However, for some people the process is more complex and a Read more
Monthly Archives: April 2015
Abolishing tax returns: how will this affect you?
The Chancellor recently announced the abolishment of yearly self-assessment tax returns. George Osborne stated that people will have ‘real time’ accounts by Read more
Five top apps for self-employed workers
Over recent years, the number of people working for themselves has increased significantly.
One thing that is essential is a Read more
Top five accounting tips for business owners
Running a successful business takes a lot of work. However, as it takes strong accounting to ensure steady growth and increased profitability, working with a good outsourced accountancy service makes sense.
From bookkeeping to benchmarking against Read more
Why should you consider trading as a limited company?
Setting up in business as a limited company has various advantages. A number of people set up as a sole trader before converting to a limited company, generally due to the administration required when running the latter. However, the benefits far Read more
7 ways to reduce debtor days #7 Payment Methods
One of the main ways to encourage a customer to pay invoices on time is to make it as easy as possible to make a payment. Small businesses are often left waiting for payment for an average of 21 days, which has the potential to Read more
7 ways to reduce debtor days #6 Credit Checking
For any company that offers credit to customers, a strict credit control process is required. Part of this process is to check whether a customer is creditworthy, or to use credit checks to decide the level of Read more
Are you employed or self-employed?
The employment status of a person can determine what their rights are and what their company’s responsibilities are. According to tax law, the status may be different.
Employment status usually falls into either Read more
7 ways to reduce debtor days #5 Pro Forma/Upfront Payments
If a business is experiencing difficulty with payment of invoices, the owner may decide to request payment in advance to reduce the risks of not being paid for goods. This is another potential solution for reducing the Read more
7 ways to reduce debtor days #4 On-Stop Accounts
The credit process works well in practice, with customers purchasing goods or services on credit. They pay their invoices within the agreed time limit and you use the money to pay your suppliers or to pay for other Read more