Category: Finance

Understanding the Difference: Turnover vs Profit

When it comes to evaluating the financial performance of your business, there are several key terms that need to be understood. Among these terms, turnover, gross profit, and net profit are fundamental concepts that provide insights into the health and profitability of a company. In this blog, we will delve into the definitions and calcul...

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Spring Budget 2024

This week Chancellor Jeremy Hunt delivered his Spring Budget. With a General Election on the horizon, many questioned how the Chancellor would balance sensible fiscal decisions with voter-pleasing political plays. Talk beforehand largely centred on further national insurance cuts and also reductions in inheritance tax. There was also t...

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Understanding the Importance of Cash Flow Management

Understanding the nuts and bolts of cash flow management could mean the difference between a flourishing enterprise and a floundering business. At its core, cash flow reflects the heartbeat of your company, revealing the money coming in and flowing out—a true measure of financial health and liquidity. With positive cash flow indicating ...

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Understanding the Differences: Accountant vs Financial Advisor vs Mortgage Broker

In the complex world of finance, it's easy to feel overwhelmed by the different roles that professionals play. It can be confusing to understand what each professional does and how they can help you. In this blog, we're going to break down the roles, highlighting their similarities, differences, and how each can support your needs. Under...

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Why Management Accounts are a key tool for Business Growth and Success

As a business owner, you may have heard of management accounts and wondered what they are and why they are important. In this blog, we explain what management accounts are, why they are essential for business growth and success, the benefits of management accounts, the key components of management accounts, how to use management accounts ...

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HMRC is Cracking Down on Side Hustles

There’s been a bit of a commotion recently from people who sell their old clothes on sites such as Vinted and Ebay. The reason being that it was recently announced that with effect from 1st January this year that these online platforms would need to start passing information about you onto HM Revenue & Customs (HMRC). Many have v...

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Changes to Companies House

It’s not often that rules and regulations relating to Companies House change. However, we’re about to experience multiple changes, starting in 2024. The reason being that the Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal Assent on 26 October 2023. The ECCTA is a key part of the Government's ongoing legislat...

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National Insurance Contributions Cut

On 22 November the Chancellor presented his latest Autumn Statement. You can read our summary here. Within the Statement he announced that National Insurance Contributions (NICs) would be either reduced or cut altogether (depending on the type of contribution class). You can see an overview of the changes below. As well as being awa...

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What happens if my tax return is submitted late?

The process of tax filing in the UK is fairly straightforward but requires a thorough understanding of the various tax codes, allowances, and deductions. Typically, tax returns have to be filed by the 31st of January following the end of the tax year, which runs from 6th April to 5th April the next year. Despite this, there are instanc...

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Autumn Statement 2023

This week the Chancellor presented his Autumn Statement. This was an eagerly anticipated Statement, as we waited to see if he would act based on the recent positive financial results (lower inflation, improved GDP predictions, etc), or whether he would take a more cautious approach. The Chancellor answered that question during his init...

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