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News & Blog

with you on the journey to a brighter future

Are you unknowingly making illegal dividend payments?

Are you unknowingly making illegal dividend payments? We all know that dividend payments are a key way to pay yourself and your fellow company shareholders when your business makes a profit. But are you following the right rules when taking out dividends from your company? Dividends can only be declared out of your company’s available…
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Getting ready for the extension of Making Tax Digital

Getting ready for the extension of Making Tax Digital Keeping the UK’s tax system running effectively and up to date with advances in technology is no easy task. But the introduction of the Government’s ‘Making Tax Digital (MTD)’ initiative is intended to solve this problem, by moving most taxation over to a digital model. Making…
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The value of cashflow forecasting during a crisis

The value of cashflow forecasting during a crisis Projecting your cashflow pipeline forwards during a crisis is vital. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard…
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Do you feel like a slave to your business?

Do you feel like a slave to your business? Feeling like a slave to your business implies the loss of control; thinking that you need to be available to your customers 24/7 and that your team can’t cope without you. It can also imply a victim mentality – that this is just what it’s like…
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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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How to close down your self-employed business

How to close down your self-employed business When you’re self-employed, you’re the workforce, the business and the boss all rolled into one. This can be a brilliant set-up for many self-employed people, but if your plans change and you decide to wind up the business, there are certain things you need to plan for and…
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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 Man on the Moon Principle

The Man on the Moon Principle In 1961, President John F Kennedy famously announced his goal of landing a man on the moon and returning him safely to Earth before the decade was out. As we know, in July 1969, Neil Armstrong and Buzz Aldrin became the first people to walk on the moon, and…
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