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RSSBalance Sheet (3)

Date Title
2014-12-09 Why Is The Balance Sheet Important For A Limited Company?
2014-09-23 Further Information On Your Balance Sheet
2011-09-29 Management Accounts

RSSBudget (13)

Date Title
2025-04-10 Making Tax Digital for Income Tax
2025-03-18 Maximise the Benefits of Filing Your Tax Return Early
2022-10-17 Changes to the mini-budget
2022-09-23 Mini budget 2022
2021-10-29 Autumn Budget 2021
2020-07-21 Chancellor’s mini budget
2018-03-14 Expand your Business
2017-03-16 Get Planning Its Almost The End Of The Financial Year
2015-09-15 Expansion on some of the Summer Budget
2015-03-23 Budget 2015
2014-03-19 Budget 2014
2012-01-04 Budgeting Success
2011-09-29 Management Accounts

RSSBusiness Plan (17)

Date Title
2025-05-30 Companies House ID Verification
2025-03-18 Maximise the Benefits of Filing Your Tax Return Early
2024-03-12 Spring 2024 Budget: Key Topics
2024-02-15 Planning for the New Minimum Wage Increase
2021-06-09 Getting back to business
2020-05-14 Coronavirus
2020-02-13 IR35 - Does this apply to me?
2019-10-04 Refinancing
2019-01-18 New Year, New Start
2018-02-14 Love your business
2017-09-08 Back to business
2015-04-27 Improving Efficiency To Grow Your Business
2014-09-23 Further Information On Your Balance Sheet
2014-06-30 Have you protected your Brand?
2014-05-05 Getting To Grips With Costing
2013-12-16 The Apprenticeship Scheme
2011-09-29 The Business Plan

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Date Title
2023-06-12 The Art Of Cashflow Management
2018-03-14 Expand your Business
2014-01-09 Improving Your Credit Score
2012-10-18 The Art Of Cashflow Management
2011-09-26 Cashflow

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Date Title
2011-09-26 Introduction

RSSFinance funding (5)

Date Title
2021-06-22 Super-deduction Relief
2019-10-04 Refinancing
2017-12-08 Finance Blog
2017-06-29 Methods Of Finance
2012-06-07 Looking To Raise Finance

RSSGeneral Business (24)

Date Title
2025-05-30 Companies House ID Verification
2022-10-17 Changes to the mini-budget
2022-09-23 Mini budget 2022
2020-08-11 Coronavirus Pandemic - Road to UK's Recovery
2020-05-20 2020/2021 Tax Rates
2020-03-31 Coronavirus (COVID-19) Interruption
2019-07-04 Glastonbury 2019
2018-09-03 Making Tax Digital
2017-02-07 New HMRC Changes April 2017
2016-06-21 Protect Your Margin
2016-01-28 New Landlord Regulations
2015-08-06 Summer Holidays
2014-10-31 Collaboration
2014-07-31 Summer Is Here!
2014-05-05 Employing Versus Outsourcing Subcontractors
2014-02-17 Invest In Your Business
2013-09-27 Auto Enrolment The New Pension Scheme
2012-11-26 Does Your Business Have Franchise Potential?
2012-09-13 Employed Vs Self Employed
2012-07-02 Top 10 Tips Running Your Business
2012-04-03 Your Financial Check Up
2012-03-06 Soletrader VS Limited
2011-10-13 Beat The Recession Blues
2011-09-26 Introduction

RSSIntroduction (1)

Date Title
2011-09-26 Introduction

RSSManagement Accounts (3)

Date Title
2023-06-12 The Art Of Cashflow Management
2012-10-18 The Art Of Cashflow Management
2011-09-29 Management Accounts

RSSMarketing (1)

Date Title
2013-05-17 Marketing From The Accountants Perspective

RSSReferral (1)

Date Title
2012-10-19 Client Referral Scheme

RSSSelf Assessment (3)

Date Title
2021-11-16 Property and Holiday Let
2018-01-05 Self-Assessment
2012-01-30 Self Assessment Explained

RSSTax Planning (6)

Date Title
2024-02-15 Planning for the New Minimum Wage Increase
2021-06-22 Super-deduction Relief
2021-03-05 Reverse Charge for VAT
2021-03-05 IR35 and Reverse Charge for VAT
2020-11-18 Capital Gains Tax
2017-10-11 The Flat Rate Scheme VAT

RSSUncategorized (2)

Date Title
2021-04-01 Rates and Threshold 2021/2022
2012-09-13 Employed Vs Self Employed

RSSYear End (2)

Date Title
2012-10-18 Discount off your first year end
2012-01-30 Self Assessment Explained

Uncategorized (33)

Date Title
2025-02-21 Tax Changes in 2025
2024-11-01 Breaking Down the Latest UK Budget: Key Takeaways and Impact on Individuals and Businesses
2023-10-20 Financial Stability
2023-05-12 Business Tips from an Accountants point of view
2023-04-05 Rates and Threshold for 2023-24
2022-09-29 Stamp Duty in Wales
2022-03-23 National Insurance Levy and Minimum Wage
2021-12-15 The most important part of Christmas dinner has been named
2021-07-09 First images of Swansea's new £135m indoor arena
2021-06-24 First images of planned £1.8m development on Porthcawl's Cosy Corner
2021-02-11 A Plan for 2021
2020-11-05 Coronavirus – funds, grants, and support
2020-10-09 Autumn Blog
2019-08-15 Gifting and Inheritance Tax
2019-06-11 Business Tips from an Accountants point of view
2019-04-26 2019/2020 Rates
2019-03-22 Making Tax Digital
2018-12-07 Finance over the festive period
2018-11-02 Autumn Budget 2018
2018-10-15 Filing your tax return early
2018-07-19 Mortgages
2018-06-15 Summer Business
2018-05-24 GDPR
2018-04-13 Happy Financial New Year!
2018-04-12 Changes to Employment Tax from 6th April 2018
2016-04-01 Budget 2016
2015-12-02 Financial Agreements
2015-10-08 Copyright
2015-07-10 Budget July 2015
2015-01-20 Autumn Statement December 2014
2013-04-26 Why Are Management Accounts So Important
2013-04-03 Summary Of The Budget 2013
2013-02-19 Your Financial Spring Clean

Total

103 posts
Business Tips from an Accountants point of view

We’re halfway through the year and 2019 is not slowing down for anybody. There are approximately 5.7 million businesses in the UK, of which 96% are considered small or micro. So, we small businesses are crucial to the UK economy, there is no denying this.

 

Whether you are a start-up and excited for the times ahead, or an establishment renewing your challenges, we all want to be successful with our business. In our latest blog, we talk about tips we think are vital to any business.

 

We all have a vision in mind, of where we’d like to see our business in the future. This vision needs to be translated on paper as your business plan. A business plan is a must for all business owners. This can help outside investors get an insight of your business, for if ever you need funding to grow your business.

 

Business Plan


A business plan should consist of;

·    Summary – What is your purpose, what is your vision?

·    Target market – Who are you likely to sell to

·    Competitors – What is your rivals weakness? Why are you different?

·    Staff – Do you need people to help run your business. What level of skill and pay is required?

·    Suppliers – Who will be your main supplier?

·    Marketing Plan – How will you advertise yourself to the world

·    Operations – Which is the best way to run your business.

·    Finance – How much money do you need? Determine the profitability of the business.

 

Business Structure

As well as a business plan, you will need to have a business structure. Sole trader, partnerships and limited companies all have their own pros and cons. Deciding which structure to choose is not always straightforward. If an asset is owned outright, then you would need to consider retaining personal ownership on incorporation. If you’re not sure which structure model you should go for, then here at Cross Accounting we can give tailored advice to you.

 

Year End

We cannot stress enough the importance of doing your year end as early as possible. Once completed, this will give you peace of mind as you will not have to worry, until next year. It will also give you more time to budget for your tax bill. You will not be in a rush to find the money for the tax bill and not kill your cashflow. Keep all receipts for your expenses, these will all help lower the tax bill. If you buy equipment or tools, mobile phone bills, petrol, these are all deductible. HMRC can conduct random spot checks, so it’s important to keep paperwork, recommended for 6 years.

 

Budgeting

Having budgets in place for your business can help you predict the near future. This allows you to have a spending plan, so you can make sure you have money for the things you need and the things that are important to you. You can see what is eating up your cash and avoid spending on unnecessary fees. Below is an example of a very simple budget.

 

 

Month 1 (Budget)

Month 1 (Actual)

Variance

Month 2 (Budget)

Month 2 (Actual)

Variance

Month 3 (Budget)

Month 3 (Actual)

Variance

Starting Cash

10,000

10,000

0

11,630

11,600

-30

 

 

 

Income

2,500

2,500

0

 

 

 

 

 

 

Total Income

2,600

2,600

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rent

800

800

0

 

 

 

 

 

 

Mobile

50

55

5

 

 

 

 

 

 

Travel

20

50

30

 

 

 

 

 

 

Gas and Electricity

100

95

-5

 

 

 

 

 

 

Total Expense

970

1,000

30

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income - Expense

1630

1,600

-30

 

 

 

 

 

 

 

These tips will keep you motivated and more importantly give you an idea of where your finances lay, helping you to quickly identify if there are rainy days ahead.

If you need expert tailored advice, please do get in touch as we are always happy to help.

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