Category: Finance
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'...
Read more
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...
Read more
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. ...
Read more
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...
Read more
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...
Read more
The Art of Invoicing
Late payments affect nearly half of all UK invoices, creating major cash flow challenges for businesses. This sobering reality expresses why knowing how to handle invoice management is vital to your company's financial health and sustainability. Becoming skilled at invoice management requires more than asking for payments. UK businesse...
Read more
How to Reduce Corporation Tax: Practical Steps for Businesses
Navigating the financial landscape of corporation tax can often feel like an intricate chess game, where understanding the rules and implementing strategic moves can significantly benefit your business's bottom line. Learning how to reduce corporation tax is not just beneficial; it's essential. The importance of this endeavor lies not onl...
Read more
HMRC e-Invoicing
In the Autumn Budget Statement, Chancellor Rachel Reeves announced an exciting development that could have a huge impact on the way businesses handle invoicing. As part of a broader package of reforms, HMRC will be launching a consultation on the implementation of mandatory electronic invoicing (e-Invoicing) across UK businesses and gover...
Read more
Autumn Budget 2024
This week new Chancellor Rachel Reeves announced both her first Budget & also the first of the new Labour government. On that note, it feels like almost every time we write about the Budget Statement in recent times we have to make reference to a new Chancellor. With the Labour Party only recently elected, hopefully this time we may g...
Read more
Understanding Marriage Tax Allowance: A Complete Guide
Are you curious about the tax benefits of marriage? The marriage tax allowance is a valuable opportunity that many couples overlook. This helpful provision allows married couples and civil partners to transfer a portion of their Personal Allowance to their spouse, potentially saving hundreds of pounds each year on their tax returns. Un...
Read more
