Changes to the Apprenticeship Levy 2017

Hiring an apprentice brings a number of advantages to your business, here’s just a few: Advantages of hiring an apprentice Lower recruitment and training costs Greater productivity, 76% of employers with apprentices state Plug skills gaps Highly motivated and loyal staff Job-specific training Company knowledge and skills passed on Improved staff retention Increased … [Read more...]

How to manage expenses

There are many things to think about if you run your own business and a key one should be how to manage expenses. You can’t afford to waste money plus you need to make ensure that any legitimate expenses are logged correctly by employees so as to minimise the amount of tax owed by maximising your allowable expenses. You will only be taxed on your profits if you are not a limited company and … [Read more...]

20 Finance Tips for Start-ups

The road to start-up success is lined with opportunities to fail, in fact, 9 out of 10 start-ups fail and, aside from making a product which no one wants (which one would assume you’d done your market research prior to launch), the main reason for this massive number of start-up failures is lack of cash! The following list should help would-be or practising entrepreneurs navigate the financial … [Read more...]

Save up to 18% Capital Gains Tax with Entrepreneur’s Relief

Are you looking to take advantage of Entrepreneur’s Relief? You have spent valuable time and effort in nurturing your start-up or business into a successful operation and are now planning your exit strategy. When you sell your business you will be liable for Capital Gains Tax at the rate of 18-28%. However, under the tax rules of Entrepreneur’s Relief you can reduce this amount to just 10% … [Read more...]

Auto-enrolment delay: What does it mean for you and your business?

Hidden away in the 2015 Autumn Statement was the announcement that increases in contributions for auto-enrolment pensions is to be delayed by six months. Currently, contributions to auto-enrolment pensions total 2%. These were due to increase to 5% in October 2017 and to 8% in October 2018. These two increases have now been delayed until April 2018 and April 2019 respectively. What does the … [Read more...]

Do I need an accountant for my part-time business?

Many people start a small business selling services or products whilst still working for another company, and think their business is too small to need an accountant. However, unless you are experienced in accounting and tax you may find yourself facing a very steep learning curve, whilst also trying to master being a business person and meeting your client’s expectations. If you don’t get … [Read more...]