Articles in the finance Category
An awful lot of small business owners find themselves working long hours. Often, it is impossible to predict workflow. Therefore, when you do have work you have no choice but to stay late to get it done. For most business owners stopping to measure the financial health of their company is not something that they can easily do, on a regular basis.
Cash flow management is essential
Not regularly taking the pulse of your business’ financial health makes it far less likely that you will find yourself short on funds and end …
Guest post by Jonathan Amponsah CTA FCCA, Easy Tax Returns
If you a rushing to meet the 31st January deadline to file your tax, then be aware of these 11 most common mistakes:
1) Not using the white space to explain unusual variations
If you know there is something unusual, explain it. HMRC is then far less likely to start an enquiry.
2) Entering the same expenses in different boxes each year
For example, a driving instructor putting their fuel cost in the cost of sales figure one year and then in motor expenses the next, …
You probably have £1000s of (personal & business) digital assets – but what will happen to them when you die?
In a recent survey PWC estimated that UK households have more than £25bn in digital assets. A digital asset is content owned by any individual that is stored in digital form. All your digital assets combined make up your Digital Estate. For most people in the U.K. a proportion of their estate is digital. The largest digital assets might be your iTunes library for music, Amazon for digital books, email accounts, shop …
Watch our video where personal finance expert Harry Wallop gives his top five tips on how to save on every day and big ticket items with a few simple but effective tricks of the trade with research showing Brits are not as savvy as they think they are
Thanks to online shopping, discount sites such as Groupon, price comparison sites and retailers offering sales on an almost daily basis, paying full price for goods and services should be the exception not the rule.
But while according to new research released today by …
From Saturday 1st October 2016, the National Minimum Wage (NMW) increases for some age bands. The National Minimum Wage is the minimum rate of pay per hour most workers are entitled to by law. The rate will depend on a worker’s age and if they are an apprentice.
From last Saturday, wages go up to:
£6.95 per hour – 21-24 year old (from £6.70: 2015)
£5.55 per hour 18 – 20 years old (from £5.30: 2015)
£4 per hour – 16-17 years old (from £3.87: 2015)
£3.40 for apprentices under 19 or 19 or over who are …
During August 2016 Britain’s pensions deficits reached a record £459 billion as the interest rate cut sent liabilities soaring. FTSE 100 firms’ deficits were also at record breaking levels, estimated to be £46 billion in July this year, as opposed to £25 billion in 2015, and set to increase to £63 billion by the end of August.
There are a number of factors which have come into play that have seen pension deficit levels increase so dramatically since the global financial crash around 2007/8, when there was once a surplus. But …
If you’ve been struggling to pay off restrictive debts for any period of time, then borrowing again will probably be the last thing on your mind. That feeling of being debt-free is a relaxing and warm one, but unfortunately many people struggle to pay for some of life’s necessities in cash. For example, after a protracted period of paying back debt you might feel confident enough to take on a mortgage, or perhaps pay for a car or holiday – and the likelihood is that you may need to borrow.
Do you know what business expenses you can claim? You could be missing out on a chance to pay less tax if you miss out some of the things that you can claim. To help, HMRC have produced an easy to follow e-learning product. It guides you through hat is the best structure for your business, liaising with HMRC, what to claim and how to do it. You can find the course here: Self-employed business expenses
Whether you work for clients who pay by the hour, negotiate a day rate or are an employee, the tricky issue of what you get paid will come up sooner or later. It is shocking that there is still a gender pay gap, but there is, so if you are a woman and you’re reading this, please do take these tips to heart. You’re not just helping yourself: you are negotiating so that the next generation of women can expect fair and equal pay. Negotiating pay isn’t just down to gender, but …
Help for self employed businesses. Don’t miss out on valuable support from HMRC. Running a business is complicated so HMRC wants to help by making online tax support available. Many thousands have already benefitted from our help by joining our webinars. Why not join us to find out more about how to correctly claim allowable expenses, good record keeping, simple accounting and much more. No special equipment is needed to take part – just click on the link to sign up and receive an invitation to join. It’s that simple: