How to save £2,000 in taxes on your childcare costs
A Government scheme could help parents save up to £2,000 on their childcare costs through tax reliefs aimed at working parents.
Read more...31 Aug 2023
Month: August 2023
30 Aug 2023
Best practices for business and personal finances
Mixing personal and business finances is a common mistake that many entrepreneurs, freelancers, and small business owners make.
Read more...29 Aug 2023
Cash flow vs profits: a guide for small business owners
As a small business owner, you’ve likely heard the terms “cash flow” and “profits” used interchangeably. However, mixing these financial metrics up can cause severe consequences for your business.
Read more...24 Aug 2023
Three things to consider when forecasting your finances as a small business owner
Forecasting is the act of looking at past and present financial data to predict future costs, expenses, and profits. Small businesses do this to tailor their business model more effectively.
Read more...23 Aug 2023
Navigating estate planning and Inheritance Tax: what you need to know
HM Revenue & Customs (HMRC) recently announced that Inheritance Tax (IHT) receipts were up by £200 million between April to July 2023, making this a record high.
Read more...22 Aug 2023
Self-Assessment benefits for small businesses
As a small business owner, you are probably familiar with the term ‘Self-Assessment’. While many entrepreneurs link Self-Assessment primarily with the yearly tax ritual, it offers a lot more.
Read more...17 Aug 2023
The role of cloud accounting in modern businesses
In today’s digital age, the way businesses manage their finances has seen a seismic shift, largely due to the introduction and growing popularity of cloud accounting.
Read more...16 Aug 2023
Understanding Director’s Loan Account (DLA) and the risks involved
Directors might opt to either lend money to or borrow from their own company. This type of transaction is called a director’s loans, and they are recorded in the Director’s Loan Account.
Read more...15 Aug 2023
Are you one of the many savers missing out on millions of pounds of unclaimed pension tax relief?
In the last five years, an incredible £1.3 billion of pension tax relief has gone unclaimed in the UK – with higher and additional-rate taxpayers losing out on incredible sums according to some experts. This tax is the Government’s mechanism to enhance your pension payments and help you boost your pension pot. To avoid missing […]
Read more...15 Aug 2023
Income protection: The overlooked lifeline in financial planning
One of the most frequently overlooked aspects of financial planning is income protection insurance. While it is easy to focus on immediate needs and short-term financial goals, planning for potential future hurdles can sometimes allow this critical form of insurance to slip through the cracks. Despite its significant benefits, many people fail to give it […]
Read more...15 Aug 2023
Passive vs Active – How your approach to investing could determine your success
Investing in financial markets is often perceived as a sophisticated process, involving a myriad of strategies and choices. One of the key choices an investor must make is whether to adopt an active or a passive investment approach. Both strategies have their merits and potential drawbacks. Understanding the fundamental differences between them can significantly impact […]
Read more...15 Aug 2023
What tax implications can come with depreciation?
For business owners, understanding depreciation is not just about accounting practices but also about handling their taxes efficiently.
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