September 2021 marked the return to normal business life for many, following the hiatus caused by Covid, multiple lockdowns and the work from home rule. But as we head back into the office, into networking events and even begin entertaining colleagues and clients again, it’s perhaps a good time to remind ourselves of some of […]
A profit and loss, also called a P&L, report is an important financial statement for every business. In summary profit and loss reports detail the company’s financial performance during any given period. It is a statement of the income and expenses, normally divided into categories, that when considered in conjunction with one another, explains how […]
Whether physical ‘hard cash’ or merely digital numbers moving between bank accounts, cash is king and therefore good credit control is the first step to maintaining good cash flow in your business. Since 1967 we’ve helped hundreds of businesses to establish themselves and grow and so we know the best ways to manage credit control […]
Nobody likes paying tax, whether via their business or personally and the question of ‘How can we reduce our corporation tax bill?’ is one we are faced with almost daily. Sadly, the query tends to come when it is either too late to do anything i.e. they are looking at their completed accounts and therefore […]
Should you take your income as salary or dividends? The question of how to draw earnings from your business when you are an owner director is a perennial one, but in recent years, successive changes in government policy have made the answer slightly more nuanced.
How much you can claim for running your business from home has always been a hot topic for debate even before we all moved home to work! Historically, the options were simple. You either took an HMRC approved payment of a few pounds for ‘non-exclusive use of home as office’, along with any expenses that […]
The world of bookkeeping has changed significantly over the last few years, leading many to ask the question, how should I manage my bookkeeping?
How can I diversify my business is a common question asked by directors, shareholders and business owners for a range of different reasons. It may be the next step on the growth strategy or it may be about balancing risk and in the same way as there are a lot of drivers to diversification, there […]
In the first of a series of question led blog posts, we consider the sometimes-thorny subject of how to change your accountant. Whether its price, quality of work, changing requirements or the odd dispute that causes you to look at changing your accountant, the fact is business owners are now far more willing to move […]