By Ashley Preen
May 26, 2012
It’s common for many business owners, to begin trading as a sole trader rather than a limited company. Sometimes, working as a sole trader suits the business model of your new start-up. So, being a limited company never really crossed your mind.
Generally,
By Ashley Preen
July 7, 2017
By Ashley Preen
June 16, 2017
Offsite Work using Digital The digital age has changed the way we communicate and hence the way that we can work. With the advancement in digital technology, work can occur at any place at any time and 24/7 if needs be. Small Businesses should take advantage of the many new ways that work can be … A Guide to Small Businesses Onsite/Offsite Work
By Ashley Preen
May 19, 2017
Late payments and having to deal with late payers is frustrating especially for small businesses. Cash flow is always an issue and receiving payment late and having to chase payers can have a significant impact on a small business. Contract Terms & Conditions Ensure that you have informed your clients about late payments and the … Key Guide to Dealing with Late Payments
By Ashley Preen
May 17, 2017
As a Small Business Owner, you will need to motivate your employees, both permanent and temporary and those that work on a contract basis, so that they grow as individuals and your business grows as well. There are several ways to achieve this. Show employees that you value them It is important to praise your … How to Motivate Your Employees
By Ashley Preen
May 12, 2017
Employee’s rights and employer’s obligations need to be complied with to avoid workplace disputes and claims. The key points taken from Employment law in the UK will be discussed to ensure that you as a Small Business Owner are aware of all your legal obligations to your employees. HMRC Registration As a small business owner, … Key Guide for Small Business Owners to Employment Law
By Ashley Preen
May 2, 2017
With many new tax reforms being implemented from 2017, it is advisable that small business owners invest in the services of an accountant. Consider the following to ensure that you grow and stay up-to-date with ‘all things accounting’ for your small business in 2017. HMRC’s ‘Making Tax Digital’ Plan The HMRC (Her Majesty’s Revenue & … Why Small Businesses Should Use an Accountant
By Ashley Preen
April 7, 2017
Auto-enrolment has been proposed to support employees to ensure that are automatically registered to join a workplace pension scheme. The new framework will also provide an easy solution for small businesses that have only begun to provide their employees with a pension scheme. Both workers and employers can make contributions to their workplace pension. Minimum … Guide to Auto-Enrolment for Small Businesses
By Ashley Preen
March 31, 2017
The new changes to the VAT Flat Rate scheme will primarily affect small businesses who are categorised as ‘Limited Cost Traders’ who will see a substantial change in the amount of VAT they will have to now pay. The Date the new VAT changes will occur The new VAT changes will come into effect from … Quick Guide to NEW Flat Rate VAT Scheme
By Ashley Preen
March 6, 2017
The new digital initiatives from the HMRC are worth looking at as the digital landscape is incorporated to encourage a more expedient service and user friendly environment. This is known as HMRC’s Making Tax Digital which will be achieved by 2020. The Digital initiatives that have been added by HMRC are as follows. 1. A … New Digital Initiatives for 2016-2017 from the HMRC
By Ashley Preen
January 23, 2017
As a freelancer your success depends on your reputation and your professionalism. To maintain these there are some things that you should never say to clients. Tip 1 Don’t let on that you are not busy When a Freelancer faces a quiet period of work, they should never let clients know this. If a client … Things Freelancers should avoid saying to clients
By Ashley Preen
January 16, 2017
Freelancers should always ensure that their clients are happy. This will both provide you with further recommendations in the form of new clients from positive word-of-mouth and your current clients will choose to give you more work. To achieve this successful outcome is a matter of juggling various roles. You will need to provide the … Tips for Freelancers to ensure Clients are happy
By Ashley Preen
January 3, 2017
Contracts are a significant part of Freelance work. They serve as a formal and binding agreement between you and your client. A contract should always state the approved upon project, the amount the client will pay for the work rendered, the time–frame for the project and any other specific details that need to be agreed … Contract Essentials for Freelancers
By Ashley Preen
December 30, 2016
A business bank account serves as a hub of information for legislative purposes when filling providing and submitting Contractor Limited Company Accounts, corporate tax returns and Personal Tax Returns. All the funds and money that move in and out of your company account that make up your monthly statements are used in compiling all these … Managing a Business Bank Account as a Contractor
By Ashley Preen
December 12, 2016
Depending on the type of work you do as a contractor, there will be certain types of insurance you’ll either be required to have, or which still might be a good idea. The most common types of insurance paid for by contractors are those that cover you from negligence, such as Public Liability Insurance, Professional … Insurance for contractors
By Ashley Preen
December 7, 2016
There are many reasons why somebody might want to start a business as a freelancer, from being your own boss and having more freedom in your life to working for who you want, when you want. Whatever your reason for working as a freelancer, there are plenty of opportunities for work out there. When businesses … Opportunities for Freelancers
By Ashley Preen
November 9, 2016
If you work as a contractor through a limited company, because you and your limited company are separate legal entities, you must set up a separate bank account for your contractor business. Contractors must set up a business bank account before they can take payments from clients. Contractors working under an umbrella company can continue … Choosing a bank account for Contractors
By Ashley Preen
June 14, 2016
While many of the aspects of a Brexit that could affect freelancers depend on any deals the UK government can negotiate with other EU countries, our current membership of the EU grants UK freelancers many automatic rights which could be affected. Your entitlement to work in EU countries as a freelancer As it stands, Britain’s … How will the Brexit referendum affect freelancers
By Ashley Preen
May 30, 2016
Switching from being a Sole Trader to a Limited Company has advantages and disadvantages. While you should ask your accountant to help you decide if you should switch, this article will give you something to think about. Benefits of changing from a Sole Trader to a Limited Company Limited Company owners have more protections than … Changing from Sole Trader to Limited Company
By Ashley Preen
May 5, 2016
Becoming burned out with your job can turn something you used to get great satisfaction from into a real chore. Here are some signs that you are becoming burned out with your job. You can’t stop thinking about work, even when you are trying to relax To be the most productive possible, you need to … Burning out at work? Here are seven signs to look out for
By Jahan Aslam
August 30, 2023
This blog post will explore what exactly crowdfunding is, how it works, and its advantages and disadvantages. So, if you’re interested in learning more about this exciting field, keep reading! What is Crowdfunding Crowdfunding is a popular financing method that enables individuals, start-ups, and small businesses to raise funds for their projects by seeking contributions … What is Crowdfunding?
By Jahan Aslam
August 23, 2023
When a business is facing financial difficulties, several different options and processes can be pursued to resolve the situation. Insolvency, liquidation, bankruptcy, and administration are commonly used in this context, but it can be challenging to understand the differences between them. This blog will explain these terms clearly and concisely and help you understand the … The difference: insolvency, liquidation, bankruptcy & administration
By Jahan Aslam
August 16, 2023
Small businesses play a vital role in the UK economy, driving growth and innovation and providing employment opportunities. However, in recent years, small businesses have faced significant challenges, including the impact of the pandemic. To support these businesses and the UK’s economic recovery, the government has extended its support through the Small Business Rates Relief … Small business rates relief 2022/23
By Jahan Aslam
August 9, 2023
In this blog, we will explore the meaning of business creditors and debtors in more detail, their roles in a company’s financial operations, and their impact on a business’s overall financial health. Creditor vs debtor: The difference Creditors and debtors are terms used to describe the relationship between a business and its lenders or borrowers. … Business Creditors vs Debtors explained
By Ashley Preen
July 14, 2022
If you own a UK property and are considering upgrading your heating system, now is the time to do so. The government has implemented a boiler upgrade scheme encouraging you to opt for low-carbon heating systems.
By Ashley Preen
July 7, 2022
National Insurance is mandatory in the UK; it pays for certain benefits and the state pension. Whether you are employed or self-employed, our guide will give you the ins and outs What is National Insurance? National Insurance Contribution is a tax on earnings paid by employees and employers. Whether you have a job or are … Guide to National Insurance
By Ashley Preen
July 1, 2022
Running more than one business is entirely possible as a sole trader. But with so much to consider, you might need a little help. We’ve put together this blog to discuss everything about running multiple businesses in the UK – from taxation to allowances What is a Sole Trader? Being a sole trader means you … What I Should Know As A Sole Trader Opening Multiple Businesses
By Ashley Preen
June 24, 2022
Managing your business’s funds and keeping track of its expenses requires that you establish a business bank account. This blog will discuss what a business bank account is and the benefits. Business Bank Account: What is it? A business bank account is an account that is used only for your company’s financial transactions. The opening … Do You Need a Business Bank account?
By Ashley Preen
June 14, 2022
When considering launching a new business, you need to ask yourself a fundamental question. Do I have enough cash to get my business idea off the ground? If the answer is ‘Yes,’ you wonder how much money will be needed to start your new business in the UK? The costs of starting a business can … How much does it cost to start a business in the UK?
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