Category: Money & Tax for the Self-Employed

So you’ve got a great business idea, but where are you going to get the money to develop it? On average small and medium sized businesses require £94,000 start-up capital to get their business going, but raising finance can be a foreign concept.

Kirsty MacDonald, private client senior manager and tax expert at North West accountancy practice Jackson Stephen LLP highlights five key factors to consider when setting up your business.

If you are looking for funding for your business then, in order to increases your chances of successfully gaining that funding, there are a number of actions you need to take – before you start to apply.

There is no denying it – when it comes to running a business, cash is king. Simply put, to survive in the competitive world of business, a company needs to ensure they have more money coming into the business than leaving it in the short-to-medium term.

Emily Coltman FCA, Chief Accountant to FreeAgent – who provide an award winning online accounting system for small businesses and freelancers – gives her five top tips for making sure your business doesn’t run out of cash.

Carl Hasty, Director of Smart Currency Business, gives his latest viewpoint on Inflation, as it is not just a pressure for businesses trading at home – it has a strong influence on the price of imported materials as well as the profitability of exported goods.

Andrew Stanley, founder of specialist tax adviser STax, claims many businesses could unknowingly be sitting on a substantial tax windfall, perhaps worth hundreds of thousands of pounds.

Can you rely on your business for your retirement plan? Financial Planner Kevin Edwards, Director of Derbyshire-based Midland Financial Solutions gives us his advice

Going it alone and attempting to not only manage the business, but monitor every aspect of the finances, seems entirely possible for many owners.

Chartered accountant Carl Elsby of Elsby & Co looks at tax enquiries and how they can affect small and medium sized businesses.

While owners may have confidence in their business and are hopeful of a successful future, the same can’t always be said for lenders, many of whom are still unwilling to take the smallest risks, however the answer may lie in their pensions.

A recent Tax Tribunal decision provides clarification for farmers on whether a farmhouse qualifies for agricultural property relief.

One of the toughest things about running a small business is dealing with non-payment on invoices – unpaid invoices can cause a big disruption for your cash flow, and because you don’t have a finance department to do the chasing for you, you often find yourself in the awkward position of chasing the same client that you’ve built a relationship with.

Real Time Information was introduced over two months ago, but it seems that many small businesses are still struggling to comply with the new legislation. Regardless of how you feel about RTI, it is here to stay and you must ensure your business is compliant.

It is believed that George Osborne may start the process of selling off the Government’s stake in Lloyds Banking Group. The stake is worth about £17bn at current market prices, although it is not clear that all the shares would be sold at once.