The Struggle For Millennials With Personal Finance

The Struggle For Millennials With Personal Finance

January 31, 2019 | No Comments

Research indicates that those from the millennial generation aren’t as financially literate as those from previous generations. They are however more likely to use the latest financial technology. The millennial generation is perhaps most famous for being technological. By 2025, the workforce will be made up primarily (75%) of millennials. The issue is that the millennial generation is showing signs of struggling to understand the most basic financial language. Could it be the job of accountants to aid them in understanding finances and in turn manage them more effectively? “Only 8% of millennials demonstrate high financial literacy” Lack of understanding
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What you should be doing financially if you’re self-employed

What you should be doing financially if you’re self-employed

January 17, 2019 | No Comments

When you’re self-employed it can be a minefield trying to work your finances out. With so much advice, legislation and rules to follow it can be over-whelming. As a team that works with self-employed workers regularly we’ve gained lots of knowledge and have written an article on it for you. in simple terms, no technical jargon and genuinely useful tips that will help you get your finances in order for you and your business. Carry on reading to find out what we say! Register with HMRC as self-employed As a sole trader it’s your responsibility to pay your own income
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What To Include In Your Limited Company’s Invoices

What To Include In Your Limited Company’s Invoices

January 10, 2019 | No Comments

When you look at the overall picture of all of your business activity, invoices may seem like a tiny fraction of what goes on. However, collecting payments for work you’ve carried out should never be side-lined. HMRC are looking for clear and accurate records of money you’re expecting to receive throughout the year. As well as HMRC, clients need your invoices to be correct in order to pay them. For limited companies there are certain things that need to be included within your invoices. Are you including them? Back to basics Let’s start by stating the obvious. The word ‘invoice’
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Working From Home – What You Need To Know About Tax Relief

Working From Home – What You Need To Know About Tax Relief

December 28, 2018 | No Comments

These days it’s common to work from home at least some of the week. With busy schedules and a lot of places saying goodbye to the standard 9-5, there’s no wonder really. As well as this, lots of companies give their employees the opportunity to work remotely and are much more flexible with location arrangements.  However, this leads to a lot of our clients wondering whether there’s any tax relief for those than work from home to cover the costs of doing so. It can be hard to get your head around the ins and outs of what you can
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The Real Cost of Christmas For Business Owners

The Real Cost of Christmas For Business Owners

December 15, 2018 | No Comments

Christmas is all about happiness, joy and often giving to those you appreciate. For employers it can be difficult to decide how generous you really can afford to be over the festive period. There has been research conducted surrounding the ways in which employers make use of the opportunity of Christmas. Research has also been looking into the impact that the tax system has on acts of generosity over Christmas. Generosity, how far should you go? When employers were asked whether they took into consideration the cost if income tax and NICs when crafting Christmas reward schemes, only a tiny
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Top Tips for Recovering From Christmas Debt

Top Tips for Recovering From Christmas Debt

November 29, 2018 | No Comments

Christmas. Full of festive cheer, food and celebrations. It’s an exciting time of year and one to be spend with our loved ones. A happy series of events at the time with a stressful aftershock for most of us. Christmas spending is an issue for a huge proportion of us. We’ve put together some of our best advice for recovering from the annual Christmas spending hangover. 7.9 million of British people fall behind with their finances in January due to the effects of Christmas spending. If you remember wondering just how you spend THAT much last year, this year you
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Top Tips For Recruiting

Top Tips For Recruiting

November 22, 2018 | No Comments

As a growing business, one of the many steps you’ll take is employing new staff. Doing this for this first time can seem daunting and having a little guidance will go a long way. Here we give you our best tips on how to ensure you’re recruiting right. Decide a wage Take a look at your accounts and work out how much you can realistically afford to pay a member of staff. Ensure it’s not going to leave you struggling or scraping the barrel at the end of the month. If your budget for a wage is smaller, it might
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Start of the Year Checklist for Business Owners

Start of the Year Checklist for Business Owners

November 15, 2018 | No Comments

As we approach the end of this year, it’s the perfect time to sit and reflect upon your business finances. Whether you’ve struggled or exceeded your expectations, it’s time to start making your next steps to improve next year. What was successful and brought in lots of profit? What didn’t go as well and requires further thought? Thinking about these things allows you to carefully consider your future goals and create realistic targets for your business. Reflection can only get you so far though and there are other steps you can take to ensure success next year. Get your taxes
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Company Owners: How to Pay Yourself a Salary

Company Owners: How to Pay Yourself a Salary

November 8, 2018 | No Comments

Setting up a company is both stressful and exciting, you’re the owner of your very own business. Something you’ve built and something you have autonomy over. You can hire who you want, you can operate your way and the money is yours. However, what a lot of people underestimate is how important it is to pay yourself a salary from said money. There are many benefits to paying yourself a salary, most importantly it makes it easier for you to track your company finances and allows you to  budget in your personal life too. As well as this, paying yourself
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How To Prepare For Christmas Sales

How To Prepare For Christmas Sales

November 6, 2018 | No Comments

No matter what your feelings on Christmas are, Christmas stock is appearing in the shops earlier each year. As soon as Halloween stock is out of the stores, you can guarantee to see the Christmas products. Thinking from a consumers’ point of view, you’re probably thinking it’s too soon. As a small business owner however, it’s not too early. If Christmas hasn’t crossed your mind yet, you need to think about it – and quickly. Take full advantage of the most lucrative time of year for the majority of businesses. Supply what your customers are demanding Personally, you may loathe
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