Tax Year 2018-19 and 10 Changes You Need To Know

Tax Year 2018-19 and 10 Changes You Need To Know

The UK tax year begins on 6 April 2018 and the start of the new tax year in UK brings a raft of tax changes that you simply can’t afford to ignore as they all come into force in the coming months. 1. National Living Wage will increase The National Living Wage for those aged 25 and over will increase from £7.50 per hour to £7.83 per hour from April 2018. 2. Tax-free personal allowance will rise The personal allowance – the amount you earn before you start paying income tax – will rise from £11,500 to £11,850 from April 2018. 3. Income Tax bands of taxable income will rise […]

VAT: Should I register for VAT

VAT: Should I register for VAT

VAT is one of the things all businesses need to be aware of.  It’s important, for example, to understand what the VAT threshold is and when you need to register for VAT. It’s also important to consider what benefits you might get from registering even if you are below the threshold. Also you need to know who can not register for VAT. What is VAT Value Added Tax – the amount of tax added to the value of goods or services you buy. All VAT registered businesses must charge VAT on the goods or services they provide in the UK. A business which is registered for VAT will charge VAT […]

Book: Self-Employed UK Tax Guide 2018

Book: Self-Employed UK Tax Guide 2018

This free (and highly detailed) book, written by Diana Hurta, is for people who run a business or planning to start own business in the United Kingdom as a self-employed. You will find answers to these questions:   What does it mean to be self-employed. What are your responsibilities. When do you need to file your tax return. What and how much tax do you need to pay. What records do you need to keep. What expenses you can claim. How to keep tidy records.   Also you will get GIFTS!   Download  our FREE ebook in PDF format by subscribing to our email list using the quick form below. […]

10 Things to Do Before Starting a Business

10 Things to Do Before Starting a Business

Before starting your business there are many things to consider. However I would recommend you to look into these 10 things. This guide will take you through each of the key sections of the start-up process: evaluating your business idea, choosing a business model, planning strategy and finance, creating a team, branding and finally getting ready to launch. 1. Do market research Market research is very important component of business strategy. When identifying and analysing the market needs, market size and competition, you will find a niche which leads to the profitable business. 2. Plan your finance A wise person first sits down and calculates the expense to see if […]

How to Start and Register a Business in the UK

How to Start and Register a Business in the UK

What you need to do to start a business in the UK, depends on your structure of business. Most businesses register as a sole trader, private limited company or partnership. Sole traders If you’re a sole trader, you run your own business as an individual and you’re self-employed. You can keep all your business profit after you’ve paid tax on it. You’re personally responsible for any losses your business makes. You must also follow certain rules on running and naming your business. Your responsibilities It’s simpler to start as a sole trader. You’ll need to: keep records of your business sales and expenses, send a Self Assessment tax return every […]

10 Key Advantages of Having a Private Limited Company (LTD)

10 Key Advantages of Having a Private Limited Company (LTD)

I will speak about two most popular types of business structures in the UK: sole trader (ST) and private limited company (LTD). Starting up as a sole trader is without doubt the simplest way to start a business in the UK. All you need to do is inform HMRC that you are working as self-employed, and report your business activities through the annual self assessment tax return. Setting up business as a LTD involves a more complex formation process, and the financial and administrative responsibilities of running a LTD are greater than those of a ST. However, there are many benefits which LTD has over the ST. Here are 10 […]

Book: Self-Employment UK Tax Guide 2017

Book: Self-Employment UK Tax Guide 2017

This free (and highly detailed) book, written by Diana Hurta, is for people who run a business or planning to start own business in the United Kingdom as a self-employed. You will find answers to these questions:   What does it mean to be self-employed. What are your responsibilities. When do you need to file your tax return. What and how much tax do you need to pay. What records do you need to keep. What expenses you can claim. How to keep tidy records.   Also you will get GIFTS!   Download  our FREE ebook in PDF format by subscribing to our email list using the quick form below. […]

Overdue Invoices: 6 Steps How To Deal With Late Payments

Overdue Invoices: 6 Steps How To Deal With Late Payments

Signed work was done. You issued invoice and waited patiently for it to be paid as you have a right to it. But the payment deadline has passed and there’s no sign of your money. What next? 6 steps you can take dealing with late payments   1. Email reminder The customer must pay you within 30 days of getting your invoice or the goods or service. If the payment deadline has passed, send a follow up email within a few days with a copy of invoice attached. If you don’t get a response, send another.   2. First formal letter Write a first formal letter and enclose invoice or […]

Why To Build Success Together

Why To Build Success Together

As a business owner you want to build and grow a successful business however this can be challenging. You have a list of tasks to do such as managing finance, preparing accounts, complying with regulations and law, keeping up with technology, making stronger brand, ensuring customer satisfaction, employing the right people and etc. Also you might be worried about the impact of Brexit on your business. We understand that and we would like to be your business lighthouse! Working closely together we can help you to focus on what you really love to do and that is your job. Our people Business Advisors Planning is a core of success and […]

Business finance: Funds without a bank loan

Business finance: Funds without a bank loan

Are you looking for alternative sources of finance for starting or growing your own business? Funds helps to: start your own business increase your sales to existing customers attract new customers maintain your profitability improve your cash-flow develop your products and services hire and train staff   We have partnered with several finance providers who are authorised and regulated by the Financial Conduct Authority (FCA) to offer finance solutions tailored to your needs:   Start up loans – a government-backed scheme designed to support businesses who struggle to access other forms of finance. Business loans. LDF is one of the UK’s leading independent provider of finance for SMEs. LDF offer unsecured […]