Many business owners will withdraw cash from their business and invest money from their personal accounts back into their companies. This is generally not a problem, but these contributions and withdrawals need to be recorded correctly. Here’s what you need to know to ensure your contributions and withdrawals are recorded properly.
Withdrawing from company assets for personal use is a matter of course for many business owners. After all, they have to live off something. This process is known as a withdrawal and is not always straightforward when it comes to accounting and tax law. What do you need to consider, what kind of withdrawals are there and is it possible to do this in a limited company? We provide the answers.
Payment holidays are can be a good option in times of financial hardship. What is a payment holiday, and which payments does it apply to? Who can get a payment holiday? Has the Coronavirus pandemic changed eligibility? There is a lot of confusion around payment holidays, but this article will help clarify some of your questions.
Is your company currently unable to meet its payment obligations? Are you unable to make your second payment on account? In that case, opting for a deferral of payment, in the forms of a VAT deferral or a self assessment payment deferral is an option to delay payments. We’ll show you what conditions must be met, and what you need to look out for.
As a business owner, it’s sometimes necessary to invest personal assets into your company. Whether it’s smaller purchases in everyday life – paying for petrol at the petrol station, for example – or larger sums if you’re trying to keep your company liquid. These are all known as capital contributions. We will provide a definition and explain what you need to keep in mind.
In business, things don’t always go as planned. Whether it’s a mishap with an order situation, or too much debt, a company can quickly find itself staring in the face of financial ruin. No matter the situation, creditors will still be demanding their legitimate monetary claims, regardless of whether your company is facing insolvency or not. The final option is liquidating the company. The goal is...
Insolvency has a bad reputation. It stands for a lack of funds and high debts. However, people often forget that insolvency proceedings don’t necessarily spell the end of a company. Insolvency administrators can help settle outstanding liabilities and help people keep their jobs.
Good crisis communication is important for any type of business because brands can damage their reputation in the long-term by using bad communication. Find out more about the process of establishing a crisis communication plan and the three phases the plan should cover. This article provides valuable tips to implement a crisis communication plan for each of the three phases using
For many companies, a crisis management plan is at least as important as a solid business plan. It ensures that corporate governance is maintained during critical times and a business can respond to an existential threat more efficiently. But how do you create a crisis management plan and what else do you need to know? Find out in this article.
Crises or emergencies can affect any company. However, a well thought-out crisis management plan helps your company get back on track. To safely navigate through tough times, a company needs a competent crisis team which can examine the reasons, make decisions, and coordinate the right steps to take.
A solid business growth strategy is paramount for any business owner. This category focuses on all the aspects that follow the establishment of a company; from business strategy and growth, to recruitment, bookkeeping, and taxes.