It can be difficult to obtain finance for a business, especially during a weak economy. Banks have set criteria for lending and if you do not fulfill the requirements, you are likely to be turned down. There are some steps you can Read more
Monthly Archives: July 2015
The importance of being an ethical taxpayer
Tax planning is a crucial element of any business strategy, which involves using the means available to legitimately reduce any duties owed. Tax relief, allowances, exemptions, expenses, and other tools are made available to minimise the amount of tax a company pays each year.
However, although tax avoidance is perfectly legal, it is viewed as unethical when Read more
How to deal with late payment
Every successful business needs to be financial stable. Cash flow is essential to a business, so it can pay its bills and plan the future strategy. All too often, disorganised businesspeople will claim to be Read more
UK vs US: Differences between HMRC and the IRS
Taxes are a fact of life all around the world and most countries have a system in place to collect what is owed from their citizens. However, many of these nations also have a tax gap, which is the difference between the total collected and the amount of tax actually owed.
The UK and USA have similar tax systems, with a payroll and returns that Read more
Don’t panic! What to do after making an accounting error
Accounting errors are genuine mistakes that were not made intentionally. It is possible to have discrepancies in the numbers, or you may have used an incorrect interpretation of policy, resulting in a mishap.
Although accounting errors can lead to serious problems, including Read more
A brief history of the British pound
The United Kingdom’s official currency is pound sterling, or simply the pound, which is used throughout the nation to buy products and services every day.
Having become a part of Britain’s identity over the years, as well as Read more
The three wealthiest characters in fiction (and why they would need an accountant)
Accountants are generally associated with people who are self-employed or large companies with vast turnovers. However, the parties do not have to be real to require the services of a reputable financial outsourcing agency.
Whether you are Scrooge McDuck and concerned about inheritance tax or Bruce Wayne worrying about Read more
Budget 2015 – some key points for business
Another Budget has been announced and, as always, business owners are keen to understand how and when this will affect their company, as well as their employees.
The Budget can have an impact on all Read more
Biggest accounting bloopers of the last 12 months
Generally speaking, most accountancy errors are genuine mistakes that can be corrected relatively quickly and without any long-term damage to finance or reputation.
However, there are some accounting mishaps that may result in Read more
How to lower your Corporation Tax bill
All limited companies pay Corporation Tax on their profits, which include trading revenues, chargeable gains and investment income. The Corporation Tax bill is generally due to be paid nine months and a day after the company year ends.
Although you have to pay Corporation Tax on the firm’s profits, you can Read more