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Business structures: what’s the right option for you?

Posted: 18th Sep 2019 by Clair Watmore Business Advice General, Making Tax Digital

Types of business structure When first thinking about how to start a business, not many people worry about structure. But your business structure can affect how you’re treated by the government and by the law. Here are some of the ins and outs. Business structures and their effects The main types of business structure are… Read more

Pricing methods and COGS are key to profitability

Posted: 10th Sep 2019 by Clair Watmore Business Advice General

Pricing and the cost of goods sold Setting prices is one of the most important things you’ll do as a new business owner. A lot of factors play into the value you put on your products or services. But none is more important than covering your costs. The first rule of price setting Not every… Read more

Four sales forecasting methods for new businesses

Posted: 19th Aug 2019 by Clair Watmore Business Advice General, Cloud Accounting

Forecasting sales can seem like guesswork. There are a lot of estimates, and those estimates are often based on assumptions. But you can approach it scientifically. Here’s how. What is forecasting in business? Forecasting goes hand-in-hand with budgeting to help you predict the financial outlook of your business. You start by estimating income (sales) and… Read more

Relief from VAT on bad debts

Posted: 12th Aug 2019 by Robert Salenius Taxation

VAT bad debt relief allows businesses that have made supplies on which they have accounted for and paid VAT but for which they have not received payment to claim a refund of the VAT. It is quite possible within the VAT system for a business to be in the position of having to pay over… Read more

Budgeting and forecasting for small business

Posted: 6th Aug 2019 by Clair Watmore Budgeting, Business Advice General, Cloud Accounting

Starting a business is a big financial decision. Before you get going, you’ll want to estimate how much money it will go through, and how much it will make. Welcome to the world of budgeting and forecasting. What is a business budget? Budgets show how money will come and go from your business over a… Read more

Businesses are being urged to register for Making Tax Digital before August

Posted: 24th Jul 2019 by Clair Watmore Cloud Accounting, Making Tax Digital

Many of the 1.2 million businesses affected by the new rules will be required to submit their first quarterly return to HMRC using software by 7 August. Businesses with an annual turnover above £85,000 are being urged by HM Revenue and Customs (HMRC) to sign up to Making Tax Digital (MTD) before the 7 August VAT filing… Read more

Getting business finance

Posted: 16th Jul 2019 by Clair Watmore Business Advice General, Corporate Finance

Starting a business can be expensive, but what if you don’t have the cash? What sorts of business finance are available? And how do you get access to them? Your business funding options Not all businesses can get every type of finance. For starters, you can’t sell a stake in your business if you’re a… Read more

Top Tax Tips for Airbnb hosts

Posted: 11th Jul 2019 by Robert Salenius Taxation

Airbnb is one of the ‘go-to’ places for affordable holiday accommodation and short-term lets. If you have a spare room it’s a great way of earning additional income; however, there are tax implications that you should be aware of. Our tax expert, Robert Salenius, provides some helpful guidance if you are thinking about becoming an… Read more

Mergers and acquisition opportunities

Posted: 26th Jun 2019 by Clair Watmore Corporate Finance

The latest news for Yorkshire based businesses. Welcome to our latest edition of Get Connected, produced in association with the Corporate Finance Network. Each edition features a review of Merger & Acquisition activity in a particular sector, the focus this month is on the Haulage sector. Haulage Sector Updates Between January 2013 and February 2019, there… Read more

Business Planning – try a SWOT analysis

Posted: 19th Jun 2019 by Clair Watmore Business Advice General, Cloud Accounting

If you can’t get into a flow with your business planning, try doing a SWOT analysis. It’s a great way to organise your thoughts and kickstart the planning process. What is a SWOT analysis? SWOT stands for strengths, weaknesses, opportunities and threats. It’s a way of thinking about your business from the inside out, and… Read more