For anybody involved in running their own business, or with aspirations to do so, a visit to the bank for a loan is seen as a natural first step. Unfortunately, the days of being on first name terms with the local branch manager who would quickly sign-off whatever you need have long gone.
It’s widely accepted that if you can bring on a Finance Director to help you in business, you should. Having a viable idea for a business doesn’t necessarily mean you know how to run the books – and the analysis, insight and advice an FD can offer your venture will be invaluable.
When you’re running a small business, it’s likely that at some point you’re going to have to deal with the fiddly issue of Value Added Tax (or VAT).
One of the more surprising announcements in the Chancellor’s Budget statement was changes to the way in which dividends are to be taxed from April 2016.
The way we manage, control and access our money has fundamentally changed. Gone are the days of paper cheque books and cash-only payments; now we’re in a digital-first world where, essentially, money lives online.
As thousands of small firms small firms get nearer to the date when they must enrol for a workplace pension, how can founders cut through the pensions jargon to find the right auto enrolment platform for them?
The Profit & Loss Account of a business (also known as the Income Statement) shows the revenue earned and the expenses incurred over a specified period of time. This trading account is where you will find the profit figure – and be able to determine the overall profitability of the business.
HMRC have put forward a proposal to amend the legislation related to people using service companies, otherwise known as IR35, in a new discussion document.
Auto-enrolment may already have started for many businesses, but you need to keep your eye on the ball to make sure you’re still complying with the complex rules, says Lee Maddock, Director at Millbank Financial Solutions…