Category: Company
Contractor vs Employee: The Truth About Hiring Costs in 2025
The contractor vs employee decision can save your business thousands of pounds if you understand the true cost implications. The UK has 2.05 million freelancers in 2024, and businesses are thinking over their hiring options more than ever. Contractors might charge higher hourly rates than employees, but the complete financial picture isn'...
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Changing from Sole Trader to Limited Company: Your Step-by-Step Blueprint
Are you running a sole trader business that's making £50,000 yearly profits? At the time your earnings hit this threshold, switching from sole trader to limited company status becomes a smart financial choice. Your growing business might make you think about changing to a limited company structure to save on taxes. In fact, the switch...
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How to Read a Balance Sheet: A Plain-English Guide for UK Business Owners
Reading your balance sheet isn't just good practice - it's crucial for any business owner. Your balance sheet shows what your business owns (assets) and owes (liabilities) at any given moment. This financial statement ranks among the most important documents that business leaders, regulators, and potential investors need to understand. ...
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Different Share Classes Made Simple: A Practical Guide for Company Directors
Most new companies begin with a single class of 'ordinary' shares. These shares give equal voting and dividend rights to all shareholders. The standard approach however might not meet your business needs as your company expands. Your company faces no strict limits on the number of share classes it can have. Different share classes offe...
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Statutory Payments – Neonatal Care Leave
Welcome to the third and final instalment of our statutory pay series. In part one we covered what statutory pay is, the minimum earning thresholds, and amounts etc. In part two we went through how to set up your payroll system and common pitfalls to avoid. And now, in this final part we will discuss some of the key points in handling req...
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How to Draft a Shareholders Agreement That Actually Protects Your Business
A shareholder’s agreement is not legally required for your business but running your business without one can get pricey with disputes that you could easily prevent. Private equity firms and institutional investors almost always need a shareholder agreement before they invest. The benefits go way beyond the reach and influence of jus...
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2025/2026 Tax Rates and Allowances
The tax year runs from 6 April. Here’s an overview of the main tax rates, allowances and national Insurance contributions that you need to be aware of for the tax year starting 6 April 2025. If you have any questions, would like to understand what rates specifically apply to yourself, or what allowances are available, please get in t...
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Spring Statement 2025
On Wednesday 26th March 2025, Chancellor Rachel Reeves delivered her Spring Statement. In terms of announcements for the average person, it was fairly low key with many of the announcements more aimed at a national level in terms of defence spending, overseas aid, etc. That said, there were of course still announcements to be aware of. An...
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Statutory Payments Explained: Part Two
Welcome to part two of our three part series covering everything related to Statutory payments. In part one we went through what statutory payments are, the minimum earnings thresholds to receive them, the amount you can receive, etc. In this blog we will cover want you need to implement through your payroll systems and common pitfalls...
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Statutory Payments Explained: Part One
Statutory payments form the backbone of employee compensation in the UK, yet many businesses struggle to navigate these mandatory financial obligations correctly. In fact, recent HMRC data shows that thousands of companies face penalties each year for mishandling these essential payments. Understanding statutory payments is crucial for...
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