If you’re in business you probably already have a thousand-and-one things to think about even before you get to all those financial tasks like invoicing, reconciling payments, managing cash-flow, following up unpaid invoices, etc. So, wouldn’t it be nice if you could automatically automate a lot of these and access everything from your phone, tablet … Continue Reading
Social Distancing – What are the current rules at work?
The Health and Safety Executive (HSE) UK is providing advice and information about social distancing. In-work activities, and keeping businesses open during covid-19. The guidelines are for keeping workers safe. It covers things such as social distancing measures, staggering shifts, providing additional hand-washing facilities and how to talk with workers about working safely. HSE is … Continue Reading
Organisations given protection from landlords aggressive debt recovery tactics
,In order to help protect them from aggressive rent collections or unfair price hikes, High Street shops and other bricks and mortar organisations under strain during the current lock-down will be protected and rather asked to simply pay what they can as outlined in a recent government statement “The majority of landlords and tenants are … Continue Reading
Why is my Profit different to my Cashflow?
What is the difference between profit and cashflow? The income after all expenses, is your profit. Cashflow is the amount of available cash within a business at any point in time. It’s to meet everyday expenses as a result of the inflows and outflows of money. A question I am frequently asked by clients is … Continue Reading
Business support in Sheffield during Covid-19 Lockdown
Business support grants There are 3 business support grants available for small businesses in Sheffield and we can help. Firstly: £10,000 for businesses in receipt of Small Business Rates Relief (SBRR) or Rural Rates Relief £10,000 for retail, hospitality or leisure businesses with a rateable value of £15,000 or less £25,000 for retail, hospitality and leisure businesses … Continue Reading
Cash basis – only declare money when it comes in & out of your business
What is ‘cash basis’? Cash basis, is a way for sole traders or partners to work out your expenses for self-assessment tax. It suits some small businesses better than traditional accounting as you only need to declare money when it comes in and out of your business. At the end of the tax year, you … Continue Reading
How to start your own business from scratch & how to do it properly
You’re either working on your own dream or your working on someone else’s If you’re currently starting your own business or even just considering it. You have a great opportunity to do it properly and build a solid foundation which will pay dividends in the future. Even more importantly, it’s a great opportunity to avoid … Continue Reading
The new Self-employment Income Support Scheme – a message from the government
The Chancellor has announced more about the new Self-employment Income Support Scheme to support self-employed people who have been adversely affected by COVID-19. Self-employed people do not need to get in touch with HMRC as the scheme isn’t yet open for applications. HMRC will contact eligible customers by the beginning of June, inviting them to … Continue Reading
A fast guide to corporation tax for UK companies
Corporation Tax is a tax paid by businesses in the UK and is calculated on annual profits in a similar way to how income tax is calculated for individuals, however, companies don’t get an equivalent personal allowance – all profits are taxable – however, there are some expenses and deductions that can be claimed to … Continue Reading
A quick guide to year end accounts
A quick guide to year end accounts We understand how daunting year end accounts can be, so take a breath, make some tea and use our quick guide to help you understand what is required. If this is your first time dealing with year end accounts or you’re unsure of what to do, at Millhouses … Continue Reading
