Guide To Handling HMRC Tax Errors and Mistakes

HMRC errors and mistakes guidance

HMRC, or the Her Majesty’s Revenue and Customs, is a government department in charge of taxation in the United Kingdom. They are responsible for overseeing the collection of taxes, as well as providing financial assistance to citizens and businesses. HMRC also plays a role in regulating certain economic activities and ensuring that businesses are properly […]

Where is Forex legal and illegal?

forex

While the global forex market is one of the most liquid entities of its type in the world, this sector remains at the mercy of numerous challenges and misconceptions. Incredibly, the practice is even illegal in some jurisdictions, with some authorities believing them to be highly damaging and vulnerable to rigging in the worst-case scenario.

Should My Business Accept Cryptocurrency As Payment?

crypto payments

Cryptocurrencies have been around for a while now, but they are still not as widely accepted as regular currency. However, more and more businesses are starting to accept crypto payments, and for good reason! There are a number of benefits to accepting crypto payments, such as quicker and easier payments, no fees or chargebacks and […]

How To Forecast Cashflow For Your Business

How To Forecast Cashflow For Your Business

‘Cash is King’ is a saying that everyone has heard, but if you are a small business owner, keeping cash flowing is about as crucial as it gets when it comes to running a successful business. Read on for simple tips on how to forecast cashflow for your business so that it doesn’t end up […]

How To Set Up A Workplace Pensions Scheme

workplace pensions

Did you know that it is a legal requirement for most employers in the UK to pay at least 3% of their employees’ salaries into a workplace pensions scheme? If you’re an employer who hasn’t yet set up a scheme, or if you’re not sure how to go about it, don’t worry, we have you […]

What Happens If You’re Made Bankrupt?

What happen's if you're made bankrupt

Bankruptcy is a legal status that usually lasts for a year and can be a useful way to clear debts that you can’t pay. When you’re made bankrupt your assets will be seized to cover the cost of your debts. You will also be bound by strict bankruptcy restrictions and your name will be published […]

How To Estimate Your Business Rates

How to estimate your business rates

If you own a business of any size in the UK, you will know that there are many expenses and overheads that can diminish your profit margin. While some costs are within control, such as payroll, the amount of paper the company uses or the marketing budget, one critical expense that is often not in […]

How Making Tax Digital Impacts Your Business

Making tax digital

The government is currently in the process of rolling out Making Tax Digital to all aspects of taxes, from VAT to income tax. The aim of this scheme is to bring all taxes online, making the process of submitting your tax return and paying your tax return streamlined and simple. But what is Making Tax […]

Are You Eligible For A Small Business Grant?

As a small business owner, getting any sort of grant is definitely advantageous and exciting and can really help boost your business. It can help you buy the equipment you’ve been needing, renovate your premises, or simply assist in paying your employees. Unlike loans, small business grants do not need to be paid back, although […]

How Much Capital & Reserves Does A Business Need?

How much capital & reserves does a business need?

More than ever, the last couple of years has shown business owners just how important it is to have sufficient cash reserves. The COVID-19 pandemic was something that no one expected to happen, and the toll that it has taken on businesses around the world has been truly tremendous. Having enough cash reserves could make […]

All you need to know about Business Asset Disposal Relief

Business asset disposal relief - Things you need to know

As a business owner, you should be conscious and aware of all of the ways in which you can save money and access relief. All of this information is available to you online and through various other resources, but it is up to you to educate yourself! While it may seem admin heavy and time […]

Tax-Free Employee Bonus Options for UK Employers

Tax-free bonus to employees in the UK - What you need to know

As an employer, there may be many instances in which you want to provide your employees with some sort of bonus. Bonuses are usually encouraged as they provide a form of incentive for your employees to work harder and meet certain targets. But bonuses have a downside. In the UK, bonuses are taxable, as are […]