Are you paying at least the National Minimum Wage (NMW)?
HMRC is cracking down on small and medium-sized businesses in certain regions of the UK for potential non-compliance with the NMW regulations. Companies found guilty will have to reimburse workers for arrears and can be publicly “named and shamed”. Earlier this year, over 500 businesses were listed on the HMRC website, and some of these […]
Balancing long-term and short-term strategies
You can’t grow-long term if you can’t eat in the short-term. Any successful business has to balance two different time horizons -long and short-term. In the short term, a business needs to cover its costs, pay salaries and function on a day-to-day basis. However, if it focuses too much on the present, there is a […]
Do parents pay tax on their children’s savings?
If you’re a parent and want to put some money into your child’s savings account, there are some strict rules in place to stop you using their tax-free allowances as a way of cutting down your own tax bill. If the interest on the savings you put into your child’s savings account exceeds £100 a […]
Are you being paid on time?
Delays in being paid by your customers can lead to cash flow problems in your business. Your staff and suppliers (and you!) want to be paid on time. Streamline your invoicing processes by billing promptly after completing the work and follow up unpaid bills. Electronic invoicing with “pay now” buttons can make it easy for […]
Neuromarketing
What is it and how can it be harnessed by your firm? Neuromarketing is a field of marketing that combines neuroscience and psychology to understand consumers’ subconscious reactions to marketing stimuli. Neuromarketing uses knowledge about the way our brains are structured and how they interpret the world around us and make decisions in order to […]
Do you know the amount of your January 2025 self-assessment tax bill?
Knowing how much needs to be paid gives you time to budget and ensure the funds are in place. Leaving your tax return and/or accounts until the last minute can give rise to a nasty shock as well as cash flow issues. If you have not let us have the information for your returns yet, […]
Leaders simply can’t aways be right
Being an effective leader involves recognising it’s impossible to be right all the time. Constructive conflict should be embraced in business. In fact, sometimes “no” is ultimately more useful than ‘yes”. The best managers and leaders in the business world, seek and accept critical feedback from trusted colleagues to maintain a balanced perspective. Recognising […]
Pre Budget tax planning and actions
Care is needed if you are undertaking and actions prior to the budget at the end of October to avoid falling foul of any anti-avoidance legislation. There is speculation that Reeves may adjust Capital Gains Tax (CGT) to help address the gap in public finances, potentially by aligning CGT rates with income tax rates. Whether […]
Research and Development claims
Claiming R&D Tax Credits for innovating new products, enhancing processes or improving services can give rise to reductions in corporation tax or even cash repayments. However, there are unscrupulous “advisers” in the marketplace, which have been falsely claiming for all sorts of businesses where there is no such expenditure in the first place. Look up […]
IHT – Inheritance Tax
Nearly £6bn of Inheritance Tax (IHT) was collected in the 2021/22 tax year according to the latest Government figures – a new record for British families. While these figures are from a couple of years ago – it can take time for the official numbers to be fully collated. These latest figures shows a trend […]