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We know first-hand many small and medium sized businesses find the bookkeeping responsibility a daunting process and what follows aims to provide some guidance. 1.   Keep your personal and business finances separate Maintaining the boundary between your personal and business spending and finances is essential. Mixing the two can get messy and complicated; if…

The first step to starting your own business is to form a compelling plan which is going to convince yourself, potential investors and any stakeholders that your idea is going to work. When you start out as a sole trader, or as a small limited company using your own finance, your business plan may only…

Are you married and are confused about the allowance you can get? Marriage Allowance, is an entitlement that often goes unclaimed. The Married Couples Allowance for individuals born after 6th April 1935 will allow you to transfer some of your Personal Allowance to your partner. The Personal Allowance is the figure that you as an individual…

Worried that you’re paying too much National Insurance? Read on to find out if this is true. There is what is called an ”annual maximum” of national insurance contributions applying to every individual in a tax year. The most common scenario of an individual paying too much national insurance arises when they are working two…

What you need to know to make your decision. 1. Permissions You may need permission from a few entities before you can run a business from home; one of these is your mortgage provider or landlord. You should check with your landlord/mortgage provider to find out what their stance is on running a business from…

Taking an idea from its initial conception and turning it into a healthy, profit-generating business is no easy task. Eight out of ten entrepreneurs who start businesses fail within the first 18 months – so the risk of failure is high. This is why it is essential you have a plan in place, one that can hold…