We know it can sometimes be a struggle to get money from difficult customers or make sure they pay on time. When you’re a contractor, freelancer or a small business owner this isn’t money you can easily wait for. We hope to shed light on what the rules are and what you can do to […]
Charging Interest On Late Payments-What You Can Do Read More »
When deciding to become self-employed, there’s a lot to take account. This includes things such as the operational structure of your business and how you’ll pay tax. These are things that can seem brand new when you’ve spent most of your career being an employee. Three terms you may have seen during your research for
Corporation Tax is the tax levied on the profits of limited companies. This can include any foreign company if it has an office branch in the UK too. For the 2018/19 tax year the current rate is 19%. A limited company based in the UK will have to pay Corporation tax on all of
If you are starting a business or trying to grow a business, it is important that you have a healthy cash flow. ll businesses aim for profit, but one good month just isn’t enough, you need a consistent cash flow. A business also needs to be able to manage fluctuations in expenses and payments too.
When starting out with your own small business, there are many different structures to choose from with the most popular company structure in the UK being a limited company. A limited company can be a very sensible choice for self-employed people, particularly, as your turnover grows, the structure of the limited company can throw up
What Salary Should You Be Giving Yourself From Your Own Business Read More »
If you’re a self-employed pregnant woman, you are entitled to a maternity allowance. This refers to women who are still working but don’t qualify for statutory maternity pay (SMP) or who’ve recently stopped working. The Department for Work and Pensions pays the maternity allowance for a maximum of 39 weeks for applicants that qualify. Applications
In Britain, we are one of the only countries in the world to be honest and open about the tax gap in our country and by publishing it in detail regularly, it has helped to keep this gap as small as possible. Especially as since publication began, the gap has only got smaller and smaller.
People give gifts all the time for birthdays, Christmases, Weddings and more. Obviously, these gifts don’t require the person who receives them to pay any tax on them. This, unfortunately, is not the case for all types of gifts. There are different rules and regulations dependent on what you gift someone, how you gift it
Statutory accounts and management accounts propose to monitor financial movement and allow for reporting on current progress, previous successes/failures and provide forecasts for the future. To those new to business management (or those in the know), these words may sound like over-complicated accounting jargon. However, once simplified, they are quite easy to understand, and that
When you start a business, you’re excited about multiple things such as getting your name out there, creating a great client base and sharing your products or knowledge with others. We doubt your first thoughts were about how to track expenses, generate accounts or managing the books! Here at Aston Black Accountants, we have the
