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Small business owners understand that cash flow is a vital aspect of their financial strategy. Cash flow management is all about having enough money on hand to meet your operating expenses, including rent, payroll, inventory, and equipment costs. Having a strong grip on cash...
HMRC offers several ways to pay Corporation Tax, and it is worth noting the deadline of when you need to pay. If you miss a deadline, you will be liable for interest payments on the outstanding amount. However, if you pay your Corporation Tax early, HMRC will pay interest to...
As a director of a close limited company in the UK, you may be wondering how to pay yourself a salary and dividends. It's important to ensure that you're paying yourself in a tax-efficient manner, while also following the legal requirements set by HM Revenue and Customs (HMRC)...
The new company cannot have the same name as another registered company in the UK. Even if not the same, if your proposed name is too similar, then you may end up in a dispute as to having the right to use it, especially if the existing company is in a similar sector to you...
If you're planning to start a business in the UK, it's essential to choose the right business structure. The most popular choices are sole trader and limited company. Both these structures have their advantages and disadvantages, and choosing the right one depends on your...
As a small business owner, wearing multiple hats is a part of your everyday routine. From managing operations to handling customer relationships, you have your hands full. However, one task that you cannot overlook is accounting and financial management. Proper accounting is...
Being a sole trader can be both an exciting and daunting experience. You have complete autonomy over your business, but the weight of responsibility and decisions can be overwhelming. This ultimate guide aims to provide you with insight into the best practices for running your...
If you are a director of a small or medium-sized limited company in the UK, you may have heard about a Director's Loan Account (DLA). But do you know what it is and how it affects your company's tax liabilities? In this insight, we will explore all the key aspects of a...
