Cost of sales method

The cost of sales procedure in the context of profits and losses.

 

The profit and loss account (P&L) is also called an income statement. All general ledger accounts are summed up with expenses subtracted from the income to leave a profit or loss amount for the period, which is usually one financial year. Daily operating expenses are summarised...

 

Tax Tips for the Self Employed

Saving taxes – a guide for the self-employed

 

How can I save on tax? This is an eternal question for the self-employed. In order to be well-versed in questions of tax, and improve your own financial situation, you need the necessary information: What taxes have you incurred? And what can be deducted from them?

 

short-time working

Short-time working: the most important facts for employers and employees

When businesses face a shortage of work for their staff, they can cut the hours of staff members, which is referred to as short-time working. As an employee, this means that you would be working fewer hours at a reduced pay. To replace partially lost wages, employers are legally required to pay statutory guarantee pay. Employees can also apply for Universal Credit or jobseeker’s allowance. Here’s...

Furlough: employer rights

Furlough and temporary leave: what’s allowed and when

Employees are generally given a certain number of days off which they are free to use as they please. However, sometimes due to workplace emergencies, employers have no choice but to put their employees on temporary leave. Find out what the conditions for furlough are, what it is, and why the term has come into use in the UK.

Crisis communication

Crisis communication: the right way to deal with critical situations

What is crisis communication? Many companies make the mistake of remaining silent during a crisis. Instead of addressing issues head-on, they are swept under the carpet – creating a perfect breeding ground for rumours that have the potential to damage a company’s reputation further. Businesses that don’t react well and initiate good crisis communication can damage their image long-term.

Customer satisfaction

Customer satisfaction

It is not possible to be successful in the long term if you have lots of dissatisfied customers. This is why customer satisfaction plays such an important role. By trying to make your customers as happy as possible, you may let yourself be guided too much by individual statements. Learn how to satisfy customers as a whole and measure customer satisfaction.

Self employed tax

How do you pay tax correctly as a freelancer?

Either October or January (depending on whether you submit on paper or online) are usually the deadlines for submitting tax returns on the previous financial year in the UK. This process often leads to questions: How do I determine my earnings? What can be deducted? Which forms need to be filled out? What are the deadlines and extensions? Something that often escapes many freelancers is that...

Filing entertainment expenses: Here’s how it works

Entertainment expenses – make the most of the tax incentives

When it comes to entertaining clients and business partners, the UK is not the most tax friendly of locations. However there are still some ways of saving money with your entertainment expenses, and this includes entertaining both clients as well as your own staff. Here you can read all the steps that you need to take to make sure you file your company entertainment expenses correctly, as well as...

Maximum working hours for employees

Maximum working hours for employees

In the UK, employees shouldn’t work more than 48 hours a week, but you can voluntarily decide to opt out of this and work extra hours. But what exactly counts as working hours? This article explains all about the maximum working hours so make sure you’re not unknowingly doing too many hours.

Product life cycle

The four stages of the product life cycle

After introducing a product on the market, many companies tend to wonder how its sales will evolve in the future. Every product goes through the same stages. Once you understand the product life cycle stages, you can better plan your company’s operations. This model affects a wide range of business sectors. Ideally, you should be thinking about the product life cycle for marketing as well.

Find UTR number

What is my UTR? Finding out your own taxpayer number

When that time of year comes around when you have to file your tax returns, you’ll be faced with the question: What is my UTR? What about my NINO? What do these abbreviations even mean? It can sometimes be difficult to keep track of things. But don't worry, there are simple ways to find the right taxpayer number.

Grow Your Business

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.


Wait! We’ve got something for you!
Get your .co.uk domain for just £1/1st year.

Enter the web address of your choice in the search bar to check its availability.
12 months for £1
then £10/year