The Bank of England is predicting that the UK will dip into recession at some point in 2022, driven by multiple factors that are causing the economy to stall and falter. But what are these key economic threats? And how are they likely to affect your business in the coming months? The 5 big economic threats for UK...
Owning a small business is a tough undertaking. As a small business owner, you are in charge of a company's numerous interwoven components. Luckily, some of these concerns can be best handled by professional accountants. Each accountant specialises in a specific field. Accountants for small enterprises come in two varieties. First, there are certified public accountants (CPAs). They...
The increase in digital business systems has opened up forensic ways of understanding your customer base. That's a huge bonus when you're aiming to build better connections, relationships and experiences with your audience. Knowing what your customer wants is a fundamental piece of knowledge for any successful business to get to grips with. And when you're running a...
To take your business to the next level, you need more than just passion. You need a knowledgeable, experienced group of accountants who are just as committed to your business as you are. Many entrepreneurs tend to distance themselves from their accountants, but this results in less control over their finances and restricted access to valuable information. An...
Tax returns are undeniably an essential component of the calendar year for your business. While they are dreadful to accomplish, they have the ability to help your business expand and become more profitable. As such, employing a tax accountant might turn out to be money well spent. When you're managing a small business, it might be challenging to...
To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of Cash-flow, these reports provide a complete understanding of the financial position...
Tax is a sensitive issue that many of us are afraid to deal with. Our hesitation is understandable because errors in this field can be pretty expensive. Doing your tax return at home is possible, but it is risky because of the complicated rules and regulations. If you want to save money, the best way to do your...
Accounting plays a crucial role in a business, and it's definitely not something you'd want to cut corners in. However, not every business can afford to hire an in-house accounting department. But that does not mean you should leave your accounting up to chance. You don't always have to hire an in-house team to get your accounting done....
Consumers are driving the trend towards sustainable business practices, voting with their pounds to support greener companies. The Global Sustainability Study 2021 found that: 63% of consumers have shifted their spending toward being more sustainable in the past five years, particularly younger consumers.Half of consumers rank sustainability as a top 5 value driver.34% of consumers are willing to pay more...
If you are the owner or director of a small business, you can use dividends to pay yourself a salary. You don’t need to pay taxes on the money you earn through dividends. This article focuses on how you can take dividends as a salary without incurring a tax bill. It also looks at the side effects and...
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