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Category: Company

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10 ways to lift your profit margin

10 ways to lift your profit margin Improvements can always be made at the margin. Small tweaks to your processes or systems can make a massive difference to the end result. It’s the same with your business margin – a 1% increase in your gross margin on £500,000 of sales is an extra £5,000 on…
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How do I suspend or cease trading as a limited company?

How do I suspend or cease trading as a limited company? On your business journey, there may come a time when there’s a valid reason to suspend or cease trading as a limited company. You might be starting up a new business and feel that your current company has run its course. Or you may…
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Do I need a remuneration strategy?

Do I need a remuneration strategy? As an owner-manager, your chief concern will be making your business profitable and building up cash reserves in the company. But you’ll also want to be able to extract funds from the business too – whether this is via a regular monthly salary, or ad-hoc dividend payments. Salary vs…
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What’s the difference between financial accounting and management accounting?

What’s the difference between financial accounting and management accounting? You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand the value that a good accountant and business adviser can add to your company? As…
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The Most Dangerous Accounting Mistakes For Your Small Business

The Most Dangerous Accounting Mistakes For Your Small Business Starting your own business is an amazing thing to do but it’s also notoriously risky. There’s a lot to think about when you first start out on your own and it can be tempting to put accounting on the back burner, but that would be a…
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Limited Company Records

Limited Company Records If you trade as a Limited company you are required to keep a whole host of company and accounting records. These include details of directors, shareholders, company secretaries and the results of any shareholder votes and resolutions. Failure to do this could land you in deep water with the authorities and in many cases…
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Help to Grow Campaign

Help to Grow Campaign In the 2021 Budget the government announced two further initiatives to support Companies where they have between 5 and 249 staff. Help to Grow: Management What is it? This June, small businesses will be able to access a 12 week-programme delivered by leading business schools across the UK. The programme will…
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Budget 2021

Budget 2021 So today (3rd March 2021) the Chancellor has released his 2021 budget. Here are the details as announced so far with more to come over the next few days. If you prefer your updates by video click the play button below. The Furlough Scheme He has announced that the Job Retention Scheme, otherwise…
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Government Assistance – Lockdown 3

The Chancellor Rishi Sunak has unveiled some brief plans with regards to extra financial support after yesterday’s lockdown news: – Businesses in the retail, hospitality and leisure sectors will receive up to £9,000 per property in one-off grants as follows: – £4,000 for businesses with a rateable value of £15,000 or under – £6,000 for…
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VAT or Income Tax Deferred due to Covid 19 and due in January 2021

VAT or Income Tax Deferred due to Covid 19 and due in January 2021 At the beginning of the coronavirus pandemic, the government gave individuals and  businesses the option to defer, until 2021, payments of Income Tax due by 31 July 2020 and VAT due in the period 20 March to 30 June 2020. This…
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