20 Cash Flow Warning Signs Small Business Owners Cannot Ignore
February 11, 2025
Cash flow is the lifeblood of any small business, and keeping an eye on certain indicators can help business owners spot potential trouble before it becomes a major issue. Here are the key cash flow warning...
Read More...Understanding the Profit Breakeven Point
February 6, 2025
For any business, knowing when it will start making a profit is crucial. The profit breakeven point is the moment where revenue covers all costs-meaning you're no longer losing money, but you're not making a...
Read More...Self-employed must report profits on tax year basis
February 5, 2025
Big changes are here for the self-employed! From 2024-25, profits must align with the tax year, replacing the old "current year basis." Overlap relief is ending, and transition profits will be spread over five years. Here's how the new...
Read More...Claiming VAT on pre-registration purchases
February 5, 2025
Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods and 6 months for services. Proper...
Read More...Tax Diary February/March 2025
February 5, 2025
1 February 2025 - Due date for Corporation Tax payable for the year ended 30 April 2024.
19 February 2025 - PAYE and NIC deductions due for month ended 5 February 2025. (If you pay your tax electronically the due date is 22 February...
Read More...Rolling over capital gains
February 5, 2025
Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until the new asset is sold. Learn how this...
Read More...Selling online and paying tax
February 5, 2025
Selling online? Whether it's a hobby or a business, you may need to pay tax if your earnings exceed £1,000. From services to content creation, it's vital to understand self-assessment rules and new reporting obligations for online...
Read More...What expenses can be claimed against rental income?
February 5, 2025
Are you a landlord? Maximise your rental income by knowing which expenses you can claim to reduce your tax bill. From maintenance costs to Replacement of Domestic Item Relief, understanding allowable deductions is key to smart property...
Read More...Pension reforms announced
February 4, 2025
The UK government is shaking things up with some significant pension reforms aimed at boosting economic growth and enhancing pension pots for working folks. Let's dive into what's happening.
Unlocking Pension...
Read More...The Value of Social Media in Promoting a Business
January 30, 2025
Building Brand Awareness
Social media platforms provide an unparalleled opportunity to reach a broad audience and increase brand visibility. With billions...