So, what is an associated company anyways? You might have heard this term because of the new way Corporation Tax is being calculated, or perhaps you’ve heard it mentioned by your accountant, but don’t know what it means. Fret not, we have you covered. Below you’ll find an overview of the impact of associated companies and how to identify them, as getting this wrong can have significant implications on your Corporation tax calculation. Just a side note (but an important one): the topic of associated companies is quite complicated (we wouldn’t expect anything less when it comes to the gover ..read more

So, you’ve got a brilliant idea, a dash of die-hard entrepreneurial spirit, and a pinch of flat-white-induced enthusiasm. You’re all set to dive headfirst into the startup world, but hold on just one gosh darn minute. Before you start envisioning your company’s logo plastered on billboards around the world, let’s talk about everyone’s favourite topic: accounting.   Okay, fine, maybe it’s not everyone’s favourite, but trust us, mastering these essential accounting practices will save you from a world of financial headaches down the road.   So, grab your calculator (or just use your ..read more

In the big wide world of entrepreneurship, every penny saved is a penny earned. Business owners constantly find themselves juggling the delicate balance of managing costs without compromising the quality of their products or services.   While good ol’ fashioned traditional methods of budgeting and cost-cutting are valuable, there’s a whole universe of untapped, creative possibilities waiting to be explored. Let’s dive into some innovative ways for business owners to save money without sacrificing their business’s vitality.   Harness the magic of remote work One powerful strategy i ..read more

Alright, fellow business owners, let’s talk about the real MVPs of your company: your team. Keeping your workforce happy and productive is like nurturing a garden—you gotta tend to it to see it bloom. Here are 15 game-changing ways to keep your squad smiling and smashing it in 2024.   Flex It, BabyFlexibility is the new black. Embrace flexible work arrangements like remote work or flexible hours. Life happens, and giving your team the freedom to balance work and personal commitments boosts morale and loyalty. Invest in GrowthShow your team some love by investing in their growth. Of ..read more

Alright, fellow business owners, let’s talk about the real MVPs of your company: your team. Keeping your workforce happy and productive is like nurturing a garden—you gotta tend to it to see it bloom. Here are 15 game-changing ways to keep your squad smiling and smashing it in 2024.   Flex It, BabyFlexibility is the new black. Embrace flexible work arrangements like remote work or flexible hours. Life happens, and giving your team the freedom to balance work and personal commitments boosts morale and loyalty. Invest in GrowthShow your team some love by investing in their growth. Of ..read more

Well, whadda ya know, it’s that time of year again—jingle bells, office parties, and a dash of financial chaos. If you run a business, you know the holiday season isn’t all sugarplums and fairies when it comes to cashflow. But fear not! We have some merry strategies up our sleeve to help you navigate the festive bank balance frenzy. Let’s start with everyone’s favorite topic: invoicing. Ah, the thrill of sending out invoices and the agony of waiting for payment. Just what everyone wants for Christmas! During this holly-jolly season, you must be proactive. Don’t be shy—send those invoices ea ..read more

Running a small business is like juggling flaming swords while riding a unicycle – it’s both thrilling and terrifying and you could end up in hospital at any given moment. Well, the hospital thing might not be entirely true, but thrilling and terrifying most definitely yes.  Amidst the chaos of managing clients, employees, and endless god-forsaken admin, one crucial figure often gets overlooked: a good accountant. We’re not talking about just any accountant, we’re talking about a good accountant.  These unsung heroes of the financial world are the secret sauce that can turn your s ..read more

  ChatGPT – the most talked about artificial intelligence (AI) chatbot – is taking the world by storm, and is making many professionals wonder if they’ll be out of a job soon. But, for us small business owners, it might be the best thing since shoulder pads went out of fashion.  Using ChatGPT for business is something all of us should embrace. And don’t worry, using ChatGPT won’t mean that Arnold Schwarzenegger and his AI-powered robot buddies will show up at your door (although we can’t guarantee that won’t happen, and it might be pretty cool if it did, but that’s a whole other art ..read more

On 15th March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding a recession and tackling labour shortages.   Below are some of the main points…     COST OF LIVING SUPPORT Energy Costs   The Energy Price Guarantee (EPG) brings a typical household energy bill in Great Britain down to around £2,500 per year. It has now been announced that the £2,500 EPG will be extended by 3 months to 30th June 2023, before increasing to £3,000 until the end of the ..read more

We all knew it was coming… tax increases and public spending cuts have been on the horizon for some time, and everything was laid out by Chancellor Jeremy Hunt during the 17 November Autumn Statement. The Chancellor had warned the public and the financial markets that his Autumn Statement would include “eye-watering” cuts in public spending and tax rises for those with the ‘broadest shoulders’, so what does it mean for you? Freezing Income Tax Bands It had already been announced that the income tax personal allowance (£12,570) and higher (40%) rate threshold (£50,270*) would be frozen until 5 ..read more