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Is Your Business Proactive or Reactive to Bad Debts?

Debt is an inevitable part of business growth. It’s good when it’s managed and paid, even if there is interest paid. But from the lending perspective, it’s a risky game. It’s particularly important for retailers selling high value goods direct to consumers. In the B2B sector, businesses are debt savvy. If they don’t have the[...] Read more »

Posted by Gareth Hughes

3 Changes Contractors Should Know For The Tax Year Ahead

Every April, the new tax year kicks in. With that comes the need for forward planning because if you don’t, you could very well find that your next tax bill is higher than you anticipated. To keep ahead of your business finances, you need to know what’s happening. Here’s a quick update of what’s kicking[...] Read more »

Posted by Gareth Hughes

Benefiting from Family Tax Planning

Working your way through a self-assessment tax return, blind to the possible tax relief and planning advantages – could cost you dearly. This financial year there are a few changes taking shape, which can have some ramifications on finances, potentially pushing taxable income upwards. For the obvious reason of keeping the most money you’ve earned,[...] Read more »

Posted by Gareth Hughes

More Small Businesses to Benefit from Simplified Accounting

Part of the 2016 Budget announcement included ways to simplify accounting processes for smaller sized businesses, reduce administration and the costs associated with that. Changes to accounting processes due to come into effect for tax year 2017 – 2018 are designed to do that. The changes relate to the businesses method of recording accounting entries.[...] Read more »

Posted by Gareth Hughes

HMRC Set To Make Cloud Accounting Mandatory

2017 is set to begin the biggest tax reform from HMRC under the Making Tax Digital (MTB) initiative. Up until now, UK business owners have had the option to use cloud accounting or to stick with the traditional paper based accounting system. This year, its set to see all business owners at least begin the[...] Read more »

Posted by Gareth Hughes

Offshore Evasion – The Amazing Truth

If numbers are your thing, then here is a good one – 5,000,000,000. That’s five billion. You will be wondering what the number represents. It is not people on earth, nor is it miles in distance to a far-off planet. It is the forecast revenue set to be collected by HMRC in the UK-Swiss agreement[...] Read more »

Posted by Gareth Hughes

VAT Flat Rate Scheme Increases to 16.5% from April 2017

For smaller sized businesses, HMRC have intentions and measures in place to simplify accounting processes. One of those measures is to simplify the accounting processes for VAT. Any size of business can register for VAT on a voluntary basis. It only becomes mandatory when the business net revenue per accounting period (usually per annum) reaches[...] Read more »

Posted by Gareth Hughes

Xero Integration With PayPal Enables Faster Payments For SMBs

The amount of payments processed in Xero has increased by 40% in the past year. The increase in the amount of payments processed through PayPal by Xero customers has led to the two companies joining forces, enabling faster invoicing and speeding up the time it takes for Xero customers to get paid. There are a[...] Read more »

Posted by Gareth Hughes

2016 Set To Be A Record High For New Startups

Despite the fears of Brexit and strategists guessing the economy will slow due to fear of the unknown; the UK economy is in the midst of record high new startups. This time around it’s not just the capital. Hotspots for new business startups include the ever popular London, with Manchester and Leeds gaining traction, and[...] Read more »

Posted by Gareth Hughes

Invoicing Advice For Service Based Businesses

Do you have invoicing built into your workflow? If not, you’re likely all over the place, and unsure when to bill. Every client is unique and so too is every job. For that reason, it’s best not to have one day of the month where you sit down and fire out all your invoices to[...] Read more »

Posted by Gareth Hughes



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