by Paul Whyatt | Jun 15, 2020 | Business Advice, Business Start-up, Taxation
If you have a business which has a turnover below the current VAT registration threshold (£85,000), you can choose to voluntarily register for VAT. Whether this is worthwhile will depend on your specific circumstances. The key advantages and disadvantages of a...
by Paul Whyatt | Feb 10, 2020 | Business Advice, Business Start-up
This may seem an odd question, but many SME business owners are so busy they often don’t know. Far too many rely on being close to the business, their intuition, gut-feel etc. Ask yourself: Do you have up to date and accurate accounting and management information? Do...
by Paul Whyatt | Feb 3, 2020 | Bookkeeping & IT, Business Start-up, Taxation
Keeping good records is important for many reasons. It will enable you to know your tax liabilities as soon as possible and to submit timely and accurate tax returns. You’ll also be able to respond quickly and confidently to any HMRC enquiry. And you’ll avoid the...
by Paul Whyatt | Dec 4, 2019 | Business Start-up, Taxation
HMRC’s tax rules can be a minefield for sole traders. Don’t forget, if you’re running a sole trade business, you are the business – you’ve not set up a company through which to trade. This means that you are personally liable for any taxes due. It’s...
by Paul Whyatt | Nov 20, 2019 | Bookkeeping & IT, Business Start-up
I’m a Chartered Accountant and I love Excel. There, I’ve said it! What can I say, Excel is s fantastic tool. It’s served me well over my 25 year plus career, both in practice and industry. Whether it’s been forecasts to support a business plan, financial...
by Paul Whyatt | Jul 27, 2019 | Business Advice, Business Start-up
Are you planning to access new funding for your business? Do you need to prepare a Business Plan to support your funding proposal? Here are some of the key things which you should consider including. Executive summary Always include an Executive Summary at the...
