Startup investments can be high-risk, high-reward endeavours. Investing in startups, which are companies in their early phases of development, may yield substantial returns. However, there are risks associated with investing in startups that must be considered cautiously. Investment Risks in Startups: Investing in startups is hazardous, as the majority of them fail within the first …
Payroll knowledge is essential for any business operating in the United Kingdom. Calculating and processing employee compensation, tax deductions, and National Insurance contributions. In this article, we will examine the main elements of UK payroll and provide advice on how to effectively manage it. PAYE PAYE Pay As You Earn (PAYE) is a system utilised …
Choosing the legal structure of your business is one of the most essential decisions you will make when starting a business. There are three primary business structures in the United Kingdom: sole proprietorship, partnership, and limited liability company. Each structure has its own benefits and drawbacks, and it is essential to comprehend these distinctions in …
Understanding the differences between sole traders, partnerships, and limited companies Read More »
As part of his Budget on 15th March, Chancellor Jeremy Hunt announced the following significant changes to the amounts individuals may save into their pensions. Annual Allowance The highest amount of pension savings a person can make annually without experiencing a tax penalty is known as the Annual Allowance. Starting in April 2023, there will …
Understanding the Proposed Pension Tax Changes in Budget 2023 Read More »
Starting a new business venture can be overwhelming and challenging, especially when it comes to accounting. As a startup, it’s essential to establish good accounting practices from the beginning to keep your finances in order and make informed business decisions. In this article, we’ll share some accounting tips that can help you manage your finances …
We would like to announce that we’re now members of the highly reputable online directory of expert local accountants, Handpicked Accountants, having been recognised for consistently delivering exceptional services to businesses across the Lancashire and North West area. This includes small and family-owned businesses, entrepreneurs, start-ups, partnerships, expert firms, and limited companies. Handpicked Accountants is …
YRF Accountants join Handpicked Accountants directory Read More »
Starting a business is an exciting and rewarding journey, but it can also be an overwhelming and daunting experience. Creating a comprehensive business plan is one of the most important steps in the process of starting a business, as it is essential for obtaining financing, setting goals, and developing strategies. A business plan acts as …
Accounting is often seen as a crucial component of success for small businesses, but is it really necessary for every business to have an accountant? While hiring an accountant can bring many benefits to a business, there are also some potential drawbacks to consider. This article will explore the pros and cons of hiring an …
If you are a construction subcontractor working in Bolton, chances are you are looking for ways to save on taxes. One way to save tax is to partner with experienced accountants in Bolton. This article provides an overview of the benefits of working with accountants in Bolton and outlines how you can claim your CIS …
What is a Split Year? A split year is an instance wherein the statutory residence test is applied to an individual who has become a UK resident—or ceased to be one—in the middle of a tax year. In such a scenario, the person is assumed to have been resident/non-resident for the entire year. But if …
What is Split Year Treatment? And when does it apply? Read More »