Running your own business for the first time is a steep learning curve. As if there wasn’t enough to get your head around, tax deadlines seem intentionally designed to trip you up. It’s no wonder why so many entrepreneurs rely on accountants to take care of their tax obligations for them so that they can focus on the business. For brave souls who are taking their taxes into their own hands, we break down the key deadlines you need to be prepared for. When you first set up a new limited company, you’ll automatically have different deadlines for Companies House and HMRC. These can be changed in ..read more

Running your own business is hard work, especially when you are a small business owner managing everything yourself or with a small team. One of the most important aspects is ensuring your accounts are correct to make sure you do not pay more corporation tax than you have to. The way HMRC calculates a limited companies tax bill is simple; the business pays 19% corporation tax on their total profits, minus any allowable business expenses. All business should act within the law and pay their share in taxes, but there are several things you can do to maximise the net profit for your business with ..read more

The core factor for measuring the productivity/success of a company is the sales volume. Most companies have a dedicated team to generate sales and it is not located at the same place as the head office. For most brands, having a remote sales team is quite economical since they do not have to make in-house arrangements.  However, getting the best results is not an easy task. If the correct strategy is not in place, it would be hard to pitch the customers properly and generate revenue. What Does A Successful Revenue-Generating Strategy Include? If you manage a remote team well, there would ..read more

A Business can be categorically defined as ‘an organisation or enterprising entity which is engaged in commercial, industrial or professional activities.’ They can start in a bid to create profits for one party or another, or they can be run on a non-profit basis, whereby the business operates effectively on charitable causes.  When considering starting a business, it’s of course not as simple as merely creating a product or service, selling it, and keeping the profit. There are specific legal regulations to take into account: such as Employment and Labour Laws, the equality act, hea ..read more

After conducting an SEO webinar with some businesses a few days ago, the topic of online reviews came up, and the importance of having them so this article is to help them and other business owners out. At first glance, it might seem a daunting prospect, allowing your customers to post-independent reviews on websites such as Trustpilot or Google My Business amongst others. But I hope reading this you will realise you have very little to lose and massive gains are easily possible. Online reviews are an essential factor for customers to trust your business, also for yourself to understand what y ..read more

Several things are essential in the process of starting an online clothing business. You must believe in yourself and the product you want to sell, but beyond that still, that you believe in the idea and story of what you want to sell too. You must have the creativity to make hard decisions as well as to continuously believe and feel inspired by your products and the ideas behind them. The investment you put into your business is not merely financial or commercial; it is a commitment of passion and dedication to something you should truly believe in.  Luckily, running your own online fash ..read more

Starting your own business can be exciting but daunting at the same time. Between figuring out your costs, overheads and potential profit margins you could make, there’s little room to think of tax issues. Here is a simple guide to help you be prepared for tax season. CORPORATION TAX Corporation Tax or CT is the main tax you will need to be worried about. Income tax on individuals is a progressive tax, meaning if you earn more, you pay more tax percentage-wise. Corporation tax is a flat rate; therefore, it encourages businesses to try to expand their operations and earn more income. Sole trade ..read more

A practical breakdown on personal tax and national insurance (NI). For employees and self employed. CONTENT PERSONAL TAX Tax Brackets for Income Tax NATIONAL INSURANCE TAX (NI) NI for Self Employed Individuals PRACTICAL EXAMPLES TAX EXAMPLE FOR SELF EMPLOYED RESOURCES PERSONAL TAX When we talk about taxes, most people immediately think of income tax, maybe the tax bracket they are in and so forth. However, both personal tax and National Insurance (NI) are both a form of direct tax. And both should be considered when trying to work out your net earnings after taxes. Glossary: direct tax A tax ..read more

When setting up a business selling products online, it’s essential to choose the right payment system for you and your customers.  When doing this, there are several things to consider, such as how much it will cost you to implement the payment system, how secure the payments are, and any other payment options – such as buy now, pay later – that you wish to offer to your clientele.  To help you ensure you make the right choice for your business, here’s a rundown of five of the most popular e-commerce payment systems, and the things that you may consider when deciding which is the bes ..read more

With Google being one of the most important search engines in the world, it is essential to understand what the algorithms are looking for to help you rank with your website and conduct effective Search Engine Optimisation (SEO).  Google currently holds 85.4% of the market share in searches on search engines in the U.K., according to Statista, with Bing nowhere near a close second at just 9.27%. Statista Quote: “This statistic displays the leading search engines in the United Kingdom (U.K.) ranked by market share for April 2020. Google had the highest market share by far with 8 ..read more