Many small businesses are moving their financial systems into ‘the cloud’. This means financial data is stored and accessed online, on systems such as Xero. There’s plenty of advantages when compared to traditional desktop software such as Sage – here’s a brief overview of the main benefits: Automatic back-ups & software updates The software and … Read more

Staying on top of credit control is key to help manage your business’s cashflow. It also gives you peace of mind. However, it can be incredibly time consuming. In this article I take a look at 6 ways to improve your processes and help you stay on top of outstanding client debts. 1. Change your … Read more

The deadline for Self Assessment tax returns is not until 31 January, but there are plenty of reasons to make an early start. In this article I’ll give an overview of some of them, alongside tips for making the tax return process a little easier. 1. Register now Common reasons for needing to register include … Read more

Whenever I first meet a start-up business, I am always asked ‘What expenses can I claim?’ The answer is always ‘It depends’! Allowable expenses vary between business sectors and whether you are a sole trader, partnership or a limited company – unfortunately, there is no one size fits all solution. In this article I look … Read more

Forming a company If you run a business as a partnership or sole trader, you may have considered converting to a limited liability company. In this article I’ll look at how setting up a limited company could help you and some other considerations of doing so. How does it work? If you are a sole … Read more

Technology moves fast. New apps and software are competing to help streamline business processes. Here’s four things you can do to improve the efficiency of your small business. 1. Online storage It’s happened to most of us: an important digital document disappears due to hardware failure, theft or a virus. Step in Dropbox and Google … Read more

Now is one of the best times in which a new business could be launched. Business confidence is increasing, new finance is becoming available and the government is keen to encourage new business by lending a hand. Grants and loans As well as traditional lenders such as the high street banks, finance can now be … Read more

1. Do you qualify for the Rent a Room Scheme? Thanks to sites such as AirBnB, more people are renting out spare space in their home. You can now earn up to £7,500 per year tax-free from renting out a spare room in the property you live in (£3,250 each if jointly owned). 2. Previously … Read more