Cost of living hub
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How to pursue unpaid invoices
The late payment of invoices can present major financial difficulties for small businesses, freelancers and contractors.
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How to budget for a better business
The success of a business is determined by the quality of the decision making. Whether you’re starting a new business, or you’re an experienced business owner, it’s important to make good decisions from the outset.
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A concise guide to the classification of business assets
There are many types of assets in a business or organisation. Understanding asset classification is a key part of understanding financial statements.
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A concise guide to reading and understanding financial statements for small business owners
Whether you are new to the world of business and finances or you are a seasoned pro with many years’ experience, you can expect to encounter some confusion over your business’ finances if you are not adequately advised and educated about key financial statements.
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Factors that can affect the profit margin of your business, and how you can increase your profitability
In this article, we look at what the profit margin is and the different types of profit margin as well as providing some actionable tips on how to increase your profitability.
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What you need to know about dividends and dividend tax rates
For many self-employed professionals who work through their own Limited company, paying themselves via basic salary plus dividends can be a more tax efficient option.
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How to determine the pricing of your products and services
Pricing of goods and services is part of the business balancing act. You need to ensure you are comfortably covering your costs so you can make a profit, whilst also remaining competitive in your marketplace.
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Important tax dates for small businesses to remember
As a self-employed professional who owns a small business, one thing that you need to prioritise is your Self Assessment tax return, which is due by 31 January each year.
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The ‘cost of living crisis’ and your business
The ‘cost of living crisis’ refers to the fall in ‘real’ disposable incomes (adjusted for inflation and after taxes and benefits) that the population of the UK has experienced since 2021.
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When and how you can add late payment interest to your unpaid invoices
Since the economic crash of 2008/9, the late payment of invoices by hiring businesses has become a common issue for freelancers and small businesses.
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2022 mini-Budget reversal, what does it mean for you?
Turbulence in the financial markets caused by September’s mini-Budget has been almost fully reversed by the new Chancellor of the Exchequer, Jeremy Hunt.