The issue of unclaimed pensions is a growing concern, with numerous individuals unaware of the pensions that are rightfully theirs. Recent data reveals that unclaimed pensions amount to a staggering £28,000 per person. Continue reading
Category Archives: Business
Business expenses you didn’t know you could write off
When you’re running a small business, every penny counts, including those you can save through legitimate tax deductions.Continue reading
Best practices for business and personal finances
Mixing personal and business finances is a common mistake that many entrepreneurs, freelancers, and small business owners make.
Cash flow vs profits: a guide for small business owners
As a small business owner, you’ve likely heard the terms “cash flow” and “profits” used interchangeably. However, mixing these financial metrics up can cause severe consequences for your business.Continue reading
Three things to consider when forecasting your finances as a small business owner
Forecasting is the act of looking at past and present financial data to predict future costs, expenses, and profits. Small businesses do this to tailor their business model more effectively.Continue reading
Self-Assessment benefits for small businesses
As a small business owner, you are probably familiar with the term ‘Self-Assessment’. While many entrepreneurs link Self-Assessment primarily with the yearly tax ritual, it offers a lot more.Continue reading
The role of cloud accounting in modern businesses
In today’s digital age, the way businesses manage their finances has seen a seismic shift, largely due to the introduction and growing popularity of cloud accounting.
Understanding Director’s Loan Account (DLA) and the risks involved
Directors might opt to either lend money to or borrow from their own company. This type of transaction is called a director’s loans, and they are recorded in the Director’s Loan Account.
What tax implications can come with depreciation?
For business owners, understanding depreciation is not just about accounting practices but also about handling their taxes efficiently. Continue reading
Capital Gains Tax for SMEs – Recent trends and compliance
Collections of Capital Gains Tax (CGT) reached a record £16.7 billion in the last tax year, a notable increase from the preceding year’s £14.3 billion.Continue reading
