Types of Funding to Solve a Cash Flow Problem

Short Term Finance to Solve a Cash Flow Problem

There are many different types of finance out there each one designed for a different...
What is a Cash Flow Forecast

What is a Cash Flow Forecast

A cash flow forecast is a prediction of the amount of money expected to come...

5 Warning Signs of a Cash Flow Problem

Cash flow fluctuates, that's a fact and it's not a problem if you have solid...

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HMRC Payment on Account – Example & Definition

The concept of HMRC Payment On Account can be tricky to get your head around so here is the official definition of payments on...
STOP! 4 Reasons Not To Hire a Bookkeeper

4 Reasons Not To Hire a Bookkeeper

One of the toughest parts of running a your own business is resourcing and understanding exactly which type of person you need for the...
6 Ways Hiring a Bookkeeper Could Boost Your Profits

6 Ways Hiring a Bookkeeper Could Boost Your Profits

Hiring a bookkeeper can feel like an expensive decision as well as additional overhead you may not want to commit to.  But hiring a...
HMRC Overlap Relief

HMRC Overlap Relief

Overlap profits occur mainly when someone who is newly self employed chooses an accounting period that is not the same as the tax year....
HMRC Overlap Profits

HMRC Overlap Profits

When you are self employed you pay tax on your business profits according to the tax year (6th April to 5th April) you make...
What is an HMRC Basis Period

What is an HMRC Basis Period

Definition of the HMRC Basis Period A basis period is a term used by HMRC referring to the time period on which someone who is...

Tax Tip for the Self Employed: Tax Losses & Class 4 National Insurance

When it comes to working out your tax and national insurance when you are self employed, it is important to appreciate that the calculation...
Self Employed Tax Losses

Tax Tip for the Self Employed: The Strategic Use of Tax Losses

Making a loss in business is perfectly normal however if you are self employed it can be worrying. Will anyone see it? What will...
What is An Accounting Period

What is An Accounting Period

An accounting period is the time covered by a set of financial statements. Usually you expect to see a 12 month period but there...

VAT ADVICE

How to Register for VAT Online

How to Register for VAT Online

HMRC VAT Registration Online In most cases businesses can register for VAT online on the HMRC website. You either need to create or login to your...
VAT Flat Rate Scheme Calculator (Excel)

VAT Flat Rate Scheme Calculator (Excel)

Try My VAT Flat Rate Scheme Calculator Knowing whether you should or should join the VAT Flat Rate Scheme can be a tricky decision to...
VAT Moss Overview

Is Your Digital Business affected by VAT MOSS?

VAT MOSS stands for Mini One Stop Shop affecting digital services business providing services to consumers (B2C).  VAT MOSS means that when a business provides...
What is the VAT Annual Accounting Scheme?

What is the VAT Annual Accounting Scheme?

HMRC offers a numbers of different VAT schemes to try and make things easier for small businesses but knowing which one is most suitable...
VAT Second Hand Margin Scheme: Record Keeping & Bookkeeping

VAT Second Hand Margin Scheme: Record Keeping & Bookkeeping

If you choose to use the VAT Margin Scheme then you are required by law to keep certain accounting records and HMRC will check...
Benefits of Voluntary VAT Registration

Benefits of a Voluntary VAT Registration

There are many businesses that opt for a voluntary VAT registration and there are benefits of doing so, here's why. HMRC Voluntary VAT Registration You can...
VAT Second Hand Margin Scheme: Calculating Your Margin

VAT Second Hand Margin Scheme: Calculating Your Margin

When calculating your margin for the VAT purposes of the second hand margin scheme, you need to remember this: VAT under the margin schemes is...