Having general accounting knowledge is crucial for any business owner, especially during tax season. Understanding common accounting terms is highly beneficial, as you will identify how they relate to your business and how it is performing.
Category Archives: Business Blog
How to navigate your first year as a business
Starting your own business is a major achievement and you will have spent a lot of time planning this venture and hoping for success.
But navigating through the first year of this new business will be essential to achieve your goals and it can be difficult to know what you should be doing.
How can you deal with VAT return errors?
If you are running a business, handling VAT returns can be complex.
You may have submitted returns with errors previously if you were unsure of what to do and could be at risk of further investigation or fines from HM Revenue & Customs (HMRC).
How to handle an overdrawn director’s loan account
As a director, have you ever considered taking a loan from your company?
If so, it’s important to be aware of the potential risks associated with an overdrawn director’s loan account (ODLA).
What do I need to do when selling my business?
Selling a business in the UK can be an exciting journey for those looking for opportunities to expand their portfolio.
What do you need to know about salary and dividends?
If you are a business owner, you need to consider what to take in salary or in dividends.
How can your businesses cut costs?
As the cost-of-living crisis continues, your business might be looking for ways to cope with soaring energy bills and interest rates.
MTD for ITSA postponed by two years
The Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative has been delayed by two years, it has been revealed.
Scottish Budget – What you need to know
The Deputy First Minister, John Swinney, presented his Budget to the Parliament in Holyrood, announcing a variety of tax changes and spending plans.
How can I make best use of management accounts?
As a business owner, the financial health of your company plays a key part in every decision you make.