With the impending Self Assessment tax return deadline rolling around, Heather Dore, Regional Manager of Easy Accountancy answers some of the most crucial, and commonly asked tax return questions.
Posted on 10th November 2014 in Finance.
Last month Vince Cable announced his latest plan to boost lending to SMEs – under the new government-backed British Business Bank, the government will take on the associated risk of lending for one ‘challenger bank.’ It’s encouraging to see the government adopting alternative measures, especially after the failure of the Funding for Lending Scheme (the concept of matched funding was never going to work when there are no funds to match in the first place). But will it make any difference?
Posted on 6th November 2014 in Finance.
Reports show that for many businesses, expenses account for a significant proportion of overall expenditure – between 8% and 12% on average, which in turn is forcing them to look closely at more cost effective and time-efficient solutions for expense management.
Posted on 4th November 2014 in Finance.
It’s no surprise that there is a government push to regulate invoice discounting, and small business lending. Hidden charges can make small business lending up to 10 times dearer than the headline price business owners think they’re going to pay. Here are the questions that will help you avoid this common pitfall:
Posted on 22nd October 2014 in Finance.
If you feel like you’re drowning under paperwork in your small business, you’re not alone. In a 2012 study, small business owners reported that they spend 1-3 hours every working day on administrative tasks, and nearly half felt like they had to work out of hours to get everything done.
Posted on 30th September 2014 in Finance.
If your business is insolvent and suffering from cash flow problems, then a Company Voluntary Arrangement (CVA) might be the right route for your business.
Posted on 25th September 2014 in Finance.
The key to a successful turnaround is cash. Businesses get into trouble because they run out of cash. The order book can be bursting, forward growth may look good but that counts for nothing if the cash is not available to finance the growth.
Posted on 24th September 2014 in Finance.
With more and more people looking to manage their money across multiple borders, peer-to-peer (P2P) alternatives for buying and selling currency are growing in popularity.
Posted on 18th September 2014 in Finance.
All businesses owners need to keep financial records but the software they use to do so shouldn’t make it a chore. Traditional desktop accounting software can be expensive, complicated and has become antiquated with recent developments in technology. It’s often tedious to use and can take the fun out of running your own business.
Let’s face it, owning a small business is exciting but doing accounting isn’t. It’s important to have a solid understanding of your company’s cashflow but a lot of work is needed to get there. Traditional accounting software requires a great deal of data entry, making busy small business owners feel like they are neglecting other responsibilities by spending hours chained to to their desktop.
More and more ambitious entrepreneurs are starting out in business. From March 2013 to March 2014, the highest number of incorporations were registered in the UK since Companies House records began back in 1997 – 526,874 in total. Of course, these new businesses need funds behind them but what are the best options?
Posted on 16th September 2014 in Finance.
Many small business owners start off using an Excel spreadsheet to keep track of their company finances. While this method is fine early on, it can quickly create problems as the business grows and becomes more complex.
Excel requires manual data entry, copy and pasting, and users to enter formulas, all of which will inevitably lead to errors. Planning the layout of spreadsheets can be complicated and time consuming. And once the format is set, it’s almost impossible to alter it if data has been populated. Perhaps most alarming aspect is the fact that spreadsheets are easily susceptible to fraud. A number can easily be changed without recording who made it.