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SEISS Payments On Your Tax Return

How to include your SEISS claims on your tax return Did you make SEISS claims during the pandemic? Many of us did and whilst it must be noted that some people who missed out or fell through the net, these payments kept the majority of the self employed afloat during a terrible time work wise. Of course, these payments were never going to be for free and the money needs to be paid back into the pot somehow. What do you do if you received any? Let's have a look at how to include your SEISS claims ...

December 16, 2021

How To Find A Good Bookkeeper

How To Find Affordable & Professional Bookkeeping Services for Small Business Owners The stats that we can see in 2021, show us that there are 5.5 million small businesses currently in the United Kingdom. That is a lot of small business owners! Many of these businesses have zero employees. Some have a handful of staff and others might have up to 49 members on the payroll. One thing that all those businesses have in common, regardless of the services they provide or products they sell, is that th...

December 1, 2021

Autumn 2021 Budget

Last week, the Chancellor of the Exchequer posed with his red briefcase before unpacking his Autumn budget in the house. There were many things unveiled, things that will be relevant for you, others that perhaps won't be. Have you seen bits and pieces which impact your home and work life? Let's take a look at the Autumn UK budget 2021 summary in regards to business, freelancers and the self employed. NI & Tax Increases Firstly, we already knew that tax rises were coming into play, however we now...

November 2, 2021

Outsource Your Payroll?

Why You Should Consider Payroll Outsourcing How is business going? Are you busy? Tired? Working hard but it feels like there aren't enough hours in the day? Is there a way to help? Have you considered outsourcing some of your jobs? Being able to delegate and push work to different people means you are able to fully concentrate on specific parts of the business. Mastering those areas you set up the business for in the first place, rather than struggling through areas where you may lack the skills...

October 20, 2021

Why Is Bookkeeping Important?

The finances of your business are critical. You need to know what is coming in, what is going out, how healthy the company is in terms of cash. So looking after those numbers is integral. This is where bookkeeping in business comes into play and why it is so important. What Is Bookkeeping? Bookkeeping is the day to day administration side of the business, keeping track of how much money the business receives and the amount it spends. This cash flow is often where small business can live or die,...

October 6, 2021

Business Electricity

Businesses live and die on the amount of money they bring in and the amount of money they spend. If there is more going out than coming in, the business will eventually fail. This is why we, as business owners, need to look at the amount of money we're spending and find ways to reduce that. We need to look at the cash flow. One of the areas we spend money is on energy. The lights that we turn on at the beginning of the day. The energy that it takes to boil the kettle for your mid morni...

September 23, 2021

Keeping Track Of Your Business

Running a business can be tough. There are long hours to work and sometimes not a lot of people coming through the door. Some people don't have the spirit to keep going. Others shut up shop and decide that a 'normal' job is better for them. Running a business has never been easy, however there are things that you can do to ensure you keep on top of everything. Losing user names, passwords and even the pin number for the business credit card can so often happen. Let's have a look at some top tips...

September 8, 2021

Bookkeeping Before Christmas

Time is moving really quickly and if you run your own business, it's a great idea to ensure your finances are in check. Summer is coming to an end. Autumn will be here shortly and before we know it, winter will bring Christmas. Christmas is a fantastic time of the year, one that we so look forward to and where many people spend a lot of money. This can be even more important if you run a business which relies on seasonal business. If Christmas is a huge part of your turnover, be sure to get up t...

August 28, 2021

Financial Equality At Home

The gender gap in the workplace is well talked about. Getting equality in the wages earned for the jobs done in the world of business is important. However, something which is barely spoken about is the financial equality at home. Did you know that the cost of borrowing money is more expensive for women than men? This needs to be put right and there are things that ladies can do to balance the cost of borrowing. The Cost Of Borrowing Right now, there is no financial equality in the world of borr...

August 12, 2021

Fifth HMRC SEISS Self Employed Grant

The Fifth & Final Self-Employment Income Support Scheme (SEISS) Grant We've heard a lot about government support during the pandemic. A lot of this is coming to an end as the country attempts to return to some sort of normality. We now know what the fifth and final Self-Employment Income Support Scheme (SEISS) grant looks like. Whilst it's a little more complicated than the previous four, it will give some financial stability and support to those who qualify. Let's look at the details of SEISS 5...

July 27, 2021

Cost Of The Small Business Financial Problem During The Coronavirus Pandemic

The global Covid 19 pandemic has caused so much hurt. People have passed away, others have had to isolate from loved ones, people have lost their businesses. It is difficult to not be in control of things when you are a business owner. Due to the fact that we rely on keeping in control in order to keep our businesses afloat. Many people have lost a lot. But what is 'a lot'? Let's look at the actual cost of the financial problem during pandemic.The Biggest Losses If we look at new research from&n...

July 12, 2021

HMRC Crypto Currency Tax Declarations

You may have heard about the boom in cryptocurrency. There are so many different coins now available that you can purchase, actually fairly easily. From Bitcoin and Ethereum to Dogecoin and Chainlink, there are lots that you might have heard of and loads you probably haven't. Whatever your thoughts on cryptocurrency, this post is all about how it is being looked at by HMRC. Cryptocurrency is a form of currency, so HMRC want to reinforce their position on it being declared.Digital Currency The HM...

June 27, 2021

Saving Money When You're Self Employed

8 Super Self Employed Tips For Saving Money When you work for yourself, you need to keep a focused eye on your finances. Saving money has perhaps never been more important. Check out these 8 super self employed tips for saving money and keeping a handle on your finances. Knew Your Credit Cards It can be easy to think that a credit card is the answer to your money problems. It might help in the short term but can be a huge problem in the long term. You need to know your credit cards. By all means...

June 15, 2021

Small Business Cash Flow

Small businesses have had it hard over the last year or so. This is on top of the usual challenges that small business owners struggle with. Cash flow has always been critical when you run a business. It's even more so today, especially for small businesses who live and die on the money coming in and out. Let's have a look at the importance of small business cash flow management.What Is Cash Flow? Cash flow is the money that is coming into the business as well as the money going out of the busin...

June 1, 2021

Going Self Employed - Top Tips

Many people have opted for a complete lifestyle overhaul recently and decided to go self-employed. This can be a wonderful thing, something that you might have wished you'd done much sooner. However, there could be difficult times coming up. Obstacles that you may not have thought about, issues that will arise which you will have to face head on. By planning and knowing a few things that will be coming up you can make your change to this new status of work run a bit smoother. Let's have a look a...

May 20, 2021

How To Claim SEISS (Self-Employed Income Support Scheme) Grant 4

Lots of us have been struggling over the last year. The pandemic has put a lot of pressure on businesses to survive and the shoulders of those who work for themselves. As there seems to be a way out of the epidemic and a light at the end of the horizon, the government continues to provide support to those who are applicable. Unfortunately, some are still excluded from this monetary support but there are others who have been looped in and can access this new grant. Have you claimed the SEISS gran...

May 3, 2021

Bookkeeping And Accounting Services 2021/22 Tax Year

How is business going right now? Lots of us have found our employment status, the way we operate companies and even our entire lives have changed beyond recognition over the last year. Things are changing, people are realising what is important to them and the time we've been able to spend with family during the lockdowns we've endured, have made us look at things differently. If you want to change the way you work to free some of your time for family fun, one of the areas business owners c...

April 19, 2021

The Tax Year End Is Here

Monday, April 5th 2021 is the last day of the 2020/21 tax year. The tax year-end brings lots of deadlines with it, both in business and personal finance. Let's have a look at some of the things you might need to do before the end of the day on April 5th!Get Your Accounts ReadyThe tax year-end means a new one will begin. This means you will be able to file your tax return, should you need to. This is important to declare your earnings and submit however much tax you owe. This year has been awful ...

April 5, 2021

Get on Your Bike

Office workers and business owners are soon to start returning to the workplace. As the vaccine schedule continues and restrictions fade away, we'll hopefully soon be back to some sort of normality. Have you considered how you'll commute to your job when you no longer work from home? Perhaps you've been unsure about public transport and have less money right now to pay for parking your car? Have you thought about getting yourself a commuter bicycle? Saddle Up Did you know that during 2020 there ...

March 26, 2021

Would You Rather Have More Time Or More Money?

We all love to play the "would you rather" games. My children's favourite is fingers as toes, or toes as fingers? It brings endless hilarious discussion and amicable differences of opinion. A question that came up in conversation with a client a while ago was the one at the top of this post. Which is more important to you? It could be either or both and there is no right or wrong answer. Everyone has their own priorities. However this particular client said that using our services meant tha...

March 10, 2021

The Importance Of Staff Training

Getting staff who want to stay with the business is harder than it looks. Whilst many people want to stick with the same company, there are others who bounce from one business to another, trying to develop themselves and progress their career. Training your staff can help to progress them internally and develop their skills, all whilst making them feel valued. There are so many benefits of training and development. Let's have a look at the importance of training your staff.Training Improves Rete...

March 8, 2021

Spring Clean Your Business

If you find yourself with a little bit of extra time right now, don't sit and scroll through the socials. Use this time to your advantage and spring clean your business.Get On Top Of Your Accounts How are you accounts looking? Have you let them slip recently? Now is the time to get on top of them! Organising your figures will put you in a better position, knowing what your cash flow is like and what the state of the business is. It will make things easier when you come to file your returns and p...

February 22, 2021

Online Security For Small Businesses

Online Security Tips To Help Protect Your Small Business When you run a small business, you plough everything into it. One leak of data, one issue with online security, one hack to your website and it could set you back years. How can we protect ourselves in the world of cyber security? As it’s Safer Internet Day this week, let’s look at some top tips!Keep Your Software Up To Date Make sure to keep your software up to date, which keeps you one step ahead of hackers. Did you know that updates...

February 8, 2021

No Fine For Late Filing of your Self Assessment Tax Return

Today it was confirmed that there will be no fine for those self employed people failing to file their return by 31st January 2021. This is as long as it is filed by 28th February 2021. The Chief Executive of HMRC, Jim Harra has said: “We want to encourage as many people as possible to file their return on time, so we can calculate their tax bill and help them if they can’t pay it straight away. But we recognise the immense pressure that many people are facing in these un...

January 25, 2021

COVID - How to Apply for Small Business Loans

If your business has been affected by the Covid-19 pandemic, you might be struggling for cash. You might already be considering closing the doors on your business baby and going to find a job elsewhere. There are small business loans available. Let's have a look at the options.Bounce Back Loans When the pandemic hit, the government introduced the Bounce Back Loans Scheme. This is a way of allowing access to small business loans, with some plus points for the business owner, during these har...

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