Category Archive Uncategorized

How can cloud accounting reduce business costs?

Businesses across the UK are feeling the squeeze of increasing energy bills and raw materials, especially as the inflation rate recently hit 9 per cent.

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Thousands more taxpayers filing Self Assessment returns early

An increasing number of people are filing their Self Assessment tax returns early.

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Every business has goals, but how can you achieve them?

Without being motivated by business goals, it could be easy for the business to become stagnant.

However, simply outlining business goals is not going to instantly ensure the success of your business – it is essential to have a strategy in place.

For this reason, we have outlined our top tips for staying on track to meet your goals.

Define your aspirations

The initial step in your strategy should be to make sure your goals are measurable and realistic.

To do this you must consider the stage that your business is currently at, compared with where you would like it to be.

For example, if you aspire to increase profit levels, you will need to keep track of data relating to your business’ income (such as the current price per unit, the total number of sales and cost per unit).

Whilst having large dreams is encouraged, as a business owner, it is important to be realistic when setting out a timeline to achieve these goals.

Review the business’ procedures

The business should be able to adapt to the changes that come with achieving its goals, which means that it is necessary to review business procedures.

One consideration is that as a business grows, the workload is set to become more demanding, which could result in unmanageable amounts for employees.

Therefore, it may be worth considering the capacity to hire more people or invest in the necessary software to automate more tasks.

Keep thorough records

Whilst your business should keep up to date records of all bookkeeping affairs, there should also be notes for others to follow should a member of staff, or yourself be unexpectedly absent.

Especially for business owners who bare a lot of daily responsibilities, other people in the team should be made aware of these so the business can function without you.

The records should information on day-to-day tasks as well as notes on procedures, assets, client lists, and all systems used.

Need advice on outlining your business strategy? Contact our experts today.

Parents missing out on Tax-Free childcare allowance encouraged to claim

Many parents have been missing out on Tax-Free Childcare, after it was revealed that one in five parents did not know they met the eligibility criteria.

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Get your tax in order as National Insurance rises

With the arrival of April’s payslips in people’s pockets, the recent rise in National Insurance will be clear to see.

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Student finance: How can employers stay up to date?

Student finance appears to be an issue that regularly changes, meaning those in charge of payroll for businesses must adapt to keep up.

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How can your employees recognise scam emails?

Unfortunately, fraudulent emails are something that we are all likely to come across at some point.

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How can you cope with the cost-of-living crisis?

Many are feeling the impact of the increasing cost of living on their finances, with the inflation rate soaring to a 30 year high of 6.2 per cent in February.

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Marriage allowance and how you can save on your tax bill

The Beatles sang about All You Need is Love, but in a week that includes Valentine’s Day, that love could come in the form of tax relief through Marriage Allowance.

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What the Government’s Levelling Up White Paper means for businesses

Every part of England will be given “London-style” powers and a mayor in a bid to level up the nation, it has been announced.

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