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3 vital things to do when becoming self-employed

If you’re looking to make that leap towards being self-employed then there are a few things that you need to know before you do. Starting your own business can be a challenge, but with the right knowledge, you can make the process as simple as possible.

Why investing in an accountant is beneficial

An accountant can be one of the key elements for those who are self-employed or are starting their own business. 

Management accounting helps ensure accuracy of business decision making

Business owners and their management teams face a huge number of decision-making situations on a daily basis, so accurate management accounting is essential for providing insights and business information. Management accounting uses your ongoing business information to produce reports on subjects such as business performance, profits margins and labour utilisation. Using this valuable source of[…] Read more »

Do you know what your business is really worth?

Many companies, when asked what their business is worth, will state the amount of their annual turnover. However, there are many contributing factors to the overall value of a business; the yearly profit is just one of the metrics a company should use to determine its worth. Arranging a business valuation by a qualified and[…] Read more »

Key accounting requirements for small business owners

Focusing on the daily operational aspects of your small business can often lead to neglect of the key requirements that can prove so influential to the success of the company. It’s vitally important that any small business owner sets the time aside for regular business administration and review of company finances.

Tips for maintaining healthy cash flow balances for businesses

Balancing the ongoing financial obligations of your business is critical for maintaining a healthy cash flow and ensuring ongoing success. Follow these simple tips to keep business cash flow on target:

How to assess accountants: Finding the perfect people for you

If there is one thing that people struggle with when they’re on the search for a new accountant, it’s assessing whether the company is right for them before they commit. The reality is that not all professional enterprises are created equal, and that every individual will have slightly different needs that need catering to. 

Tax-saving tips for the self-employed

Many self-employed people are unaware of the savings they could be making on their tax bill. It’s all legal, of course. What we’re talking about here are methods such as assessing areas where you may be paying too much tax when you shouldn’t be. You may not have worked this out previously because you don’t[…] Read more »

Finding the right payroll software for your business

If you’re running your own payroll you will need HMRC-recognised software that gives real-time reporting of PAYE information direct to the HMRC. You can choose to run free payroll software if you employ less than ten employees but will need to purchase a relevant software package when you employ more than ten people. Finding the[…] Read more »

What is managerial accountancy and what’s the benefit to my business?

A form of accountancy that is often overlooked is that of managerial or management accountancy