Struggling with your business? Before you panic, lets diagnose the real problem. We are speaking to more and more business owners who say the same thing, ‘we used to be profitable — now we’re constantly under pressure’. Cash flow is tight. HMRC arrears are building. Margins feel thinner and stress levels are higher. Before making…
The tinsel is up, the high street is buzzing and for your business, this means one thing: the annual Christmas rush is upon us! Check out our guide to hiring temporary staff this Christmas. As a business owner, your first instinct is operational, “I need more people on the shop floor,” or “We need more…
Running a tourism or hospitality business in Cornwall is rewarding but comes with unique financial challenges. Whether you manage holiday lets in St Ives, run a B&B in Hayle, or serve cream teas in a coastal café, staying on top of your tax and accounts is crucial. Seasonal income, changing regulations and managing staff can…
If you’re self-employed in the UK, you may be required to make payments on account (POA). What is payments on account? In this blog we’ll explain what payments on account is and what you need to do as a self employed taxpayer. What is Payment on Account? Payments on account (POA) are tax payments made…
How much is my business worth? Valuing your business can help you focus on areas for improvement. In this blog we aim to answer a few questions you may have about valuing your business. Hopefully then helping you answer the question, how much is my business worth? So, how do you even value a…
Lots to go through from the Spring Budget 2023 today. In this blog we’ve summarised the main points for you. Corporation Tax Announced in the Spring Budget 2023, from 1 April 2023, the rate of Corporation Tax will increase to 25% if a company’s profits exceed £250,000 a year. The current rate of 19%…
With increasing supplier and energy costs and a rise in interest rates, it’s vital that you understand your business cash flow. Your business cash flow can give you insights about the health of specific products or services and overall market patterns. In this blog, we provide cash flow tips for businesses. What is cash…
Here’s a summary of the Autumn Statement 2022. Income Tax You start to pay income tax on annual earnings of more than £12,570, charged at 20%. You then pay 40% on earnings over £50,270 a year (the bands are different in Scotland). These tax thresholds had already been frozen until 2026. The chancellor has…
Have you ever looked at your profit and loss statement and wondered what all of it means? Is it something just for accountants? Understanding your profit and loss statement (P&L) can give you clarity on your businesses financial health. What is a profit and loss statement (P&L)? A profit and loss statement is…
With only 18 months left to comply, it’s really important that you make sure your business is MTD compliant. It’s best to make sure you have everything in place sooner rather than later. Are you self-employed, a partnership or a landlord with a property income above £10,000? You will need to follow the rules for…