More people are online than ever before and asking questions that you might have the answers to or looking for product that you might offer. Therefore there’s never been a better time to start an online business than right now. There are many reasons why people are starting an online business...

One of the reasons why business fails is a poor cash flow management. Effectively managing cash flow is vital to the running of your business.Even if your company is currently profitable, it is still at risk for negative cash flow as at any time your business can be hit with cash flow problems if finance,...

The tax year in UK is from 6 April to 5 April the following year. Self-Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return. Who...

Thousands of business owners are looking for alternative sources to raise finance for starting or growing their business.If you’re one of them, in this article you will find main ways to fund your business without a bank loan. 1. Family loan Relatives and loved ones are more likely to trust you with...

As a result of Automatic Enrolment, millions of people now have a workplace pension. Find out how this affects your business. Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. This is called ‘automatic enrolment’. If...

As a business owner and company director, running a business could be frustrating. For lots of business owners, bookkeeping is a nightmare. Whatever your size of business, you should be routinely receiving data about your numbers and analyse it accurately to understand the flow of money through your...

National Insurance (NI) in the United Kingdom is a system of contributions paid by workers and employers to qualify for certain benefits. The national insurance scheme is administered by HM Revenue and Customs (HMRC). National Insurance Number A national insurance number (NINO) is a number unique to you which...

Making Tax Digital (MTD) is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. Making Tax Digital (MTD) for VAT requires VAT registered business with a taxable turnover above the VAT registration threshold...

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...

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 in business as a LTD involves a more complex...

Once you have registered a business, you might need register for certain business tax. Corporation Tax If you run your business as a limited company, you must pay Corporation Tax on profits from doing business. You will need to register with HMRC for Corporation Tax service within 3 months of starting...

Sole Trader Sole Trader means you run your own business as an individual. If you start working for yourself, you’re classed as a sole trader. This means you’re self-employed - even if you haven’t yet told HM Revenue and Customs (HMRC). You can keep all your business’s profits...

Limited Company by Shares Limited company means the business is a separate legal entity, has separate finances. Limited company by shares, means the company has shares and shareholders, can keep any profits it makes after paying tax. If you run business as a private limited company (Ltd), means you are a shareholder;...