National Living Wage: Increasing to £10.42/hour from April 2023 for over 23-year-olds. Pensions and Benefits: Much to the delight of everyone in the house, the Chancellor confirmed that the Pension triple lock would remain, meaning a 10.1% increase to pensions from April 2023. He went on to announce that other means tested benefits would also […]
In the UK, You are legally required to register as self-employed once the money you get paid (not your profit) goes over £1,000 during a tax year. Below this amount, you can avoid letting HMRC know about your business and paying any tax. This tax-free amount, otherwise called the trading income allowance, isn’t always appropriate to use.
It’s common for businesses to set goals at the beginning of the year to help guide their growth and development. Here are a few examples of goals that businesses might set for the new year: Increase sales: A common goal for businesses is to increase their sales and revenue. This might involve implementing new marketing strategies,
Accurate bookkeeping is important for any business because it allows you to track your financial transactions and monitor the financial health of your business. Here are some tips for keeping accurate bookkeeping records: Use a consistent system: Choose a bookkeeping system that works for your business and stick with it. This can be a paper-based
An accountant can help your business in a number of ways. Here are some examples: Financial reporting: An accountant can help you prepare financial statements such as balance sheets, income statements, and cash flow statements, which can help you understand the financial health of your business. Tax preparation and planning: An accountant can help you prepare and
There are several things you can do to make the most of remote meetings: Prepare ahead of time: Make sure you have a clear agenda and any necessary materials ready before the meeting starts. Use video: If possible, use video conferencing to help create a more personal connection with other attendees. Mute your microphone when not speaking: This