Annual accounts and confirmation statements are required to be filed every year. These are called annual accounts because they show you what happened over the course of the whole year. They include information about the company’s finances such as earnings, profits and losses; assets and liabilities; shareholders’ equity; and cash flows. Confirmation statements are used…
Being self-employed offers many benefits over working for someone else. You are free to do what you love and make money doing it. Here are some of the best reasons why being self-employed is better than working for someone else. 1. Flexible Hours Self-employed people don’t have to follow rigid schedules. They’re able to pick…
Financial projections are essential for startups. Whether you’re looking for external or internal financing, creating a forecast spreadsheet based on the business model and assumptions you’ve developed is one of the best ways to understand what you should expect in revenues and expenses. This process helps you avoid surprises, especially when you start growing quickly….
Motivate your team to live well with an excellent employee benefits program. In today’s world, it seems like everyone is trying to cut costs wherever possible. This includes employees. When you think about how much money companies spend on employee benefits, it might seem like there’s no way to save anything. However, there are some…
The government has launched a new online tool to help people file their tax returns. The UK Government Online Services (GOV.UK) is now offering free access to its eFiling Service. The service allows taxpayers to upload documents directly into HM Revenue & Customs’ system. This saves you time and money. You no longer need to…
Consent requests are often used to gather additional personal information from visitors. They are typically presented in one of three ways: 1. A pop-up box appears when someone visits your website. 2. An overlay appears over the page where the visitor is viewing. 3. You ask permission to collect data via a form embedded within…
Starting a business requires a lot of work and planning. You need to make sure that everything goes smoothly from the beginning. Here are some questions you might want to ask yourself before launching your venture. 1. How do I know if my idea will work? 2. Do I need a licence? 3. What type…
Company directors A company director is someone who holds office in a company. They are usually appointed by shareholders or owners of the company. In some cases, there may be several people holding different offices within the same company. The term “company director” is often used interchangeably with “director”, although technically speaking it refers to…
Donating money to charities is one way to make sure it goes where it’s needed most. But if you want to save some cash while doing good, there are ways to donate without paying taxes. Here are three tips to help you do just that. 1. Payroll Deduction If you work for a company that…
An audit is usually triggered by something that makes the tax office suspicious about your accounts. They might notice a discrepancy between what you say you owe and what you actually owe, or they could find out that you haven’t been paying enough tax. If HMRC decide to investigate you, it doesn’t mean that you’re…