Top Tips For Negotiating Salaries With New Employees

  From the moment you offer a job to the successful candidate the window for salary negotiation opens. There are two outcomes of this negotiation, that the candidate will end up feeling either wanted or devalued. In their eyes, the level of pay they receive determines how important they are to you and your company. A successful salary negotiation will end in a positive employer as well as a positive employee. Reasoning has been discussed and both parties will agree upon a fair salary that reflects both the employer and employee. If you’re struggling to negotiate or are looking for some
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What You Need To Know About Directors Loan Accounts

Most business owners first learn about Directors Loan Accounts is when they’re sat with their accountants to discuss their Ltd Company year-end accounts. It’s not something that is always discussed. If you’re unsure about them and need a little more information, hopefully, this article will answer some of your questions. Directors Loan Account Simplified Put simply, a Directors Loan Account is a record of how much money your limited company owes you or that you owe your company. It shows the amount left for you to withdraw free of tax from your company, or if you’ll need to reimburse if
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What You Need To Know About VAT on Ecommerce Sales

For most products, there’s no difference between online and physical retailing where VAT is concerned. However, digital goods and services (ebooks, music and image files etc) come under a different set of VAT rules. The way that HMRC look upon it is that if you’re selling goods on the Internet, you’re using it solely as a tool for communication and distribution as well as receiving payment from the customers buying your products. The same rule applies as it would for a physical store, you are only able to charge VAT if your business is registered to do so. Should your eCommerce
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How Leaders Can Make Better Business Decisions

As a leader in a business, you’ll be faced with decisions every day. Whether they’re small decisions that don’t make much of an impact or larger scales decisions that could change things massively for the company and those working for it. It can be daunting and the sense of responsibility on you often gets overwhelming. There’s no clear set way to make a great decision, it all depends on the situation, those involved and the implications of each possible outcome. We have developed a quick list of things that we suggest taking on board when it comes to making your
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The Basics For The Self-Employed

Being self-employed can often mean the line between business and personal finance gets blurred. It’s hard to create a divide and have a firm barrier between them both. Our expert team have come together to deliver you our most useful tips for managing your finances. Create a Budget When you’re self-employed it means you’ve not got a guaranteed income that you can rely on being around the same amount each month. This can make budgeting trickier. Creating a budget for expenses allows you to have a clear idea of where your money is going and where you could save some
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The Gender Pay Gap: What The Companies Getting It Right Are Doing

In April 2018 all UK companies who employed 250 or more employees had to publish statistics revealing their gender pay gap. This movement saw a flurry of headlines highlighting companies with large pay gaps and what they should do to narrow them. Initially, more than ¾ of businesses were paying their male members of staff more than female employees. Some of the worst perpetrators had a gender pay gap of over 80%. Some of the biggest companies in the UK showed that their gap was over 3 times higher than the national average. At the time this was 18.4% for
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The Struggle For Millennials With Personal Finance

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

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

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

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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