If you’ve heard the phrase ‘director’s loan’ but are not sure exactly what it means, we’ll take a quick look. Director’s loans are actually very common and can be useful when you’re running a business
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Business guides
Ever heard of ‘Trivial Benefits’? If not it might be very useful to you to know about!
HMRC have recently clarified what ‘trivial benefits’ are under the UK tax scheme, how they are logged according to tax, and who can receive them. If you’re a company owner or director, they may be very useful to you in terms of improving staff morale and saying ‘thanks’ when employees go above and beyond for … Continue Reading
How do you calculate holiday pay for workers who are not on fixed hours?
The majority of workers in the UK are full-time on fixed hours with fixed pay. These workers are typically on a fixed monthly salary, so if they take a week’s holiday. They will normally receive the same pay at the end of the month. As they would normally receive. However, it’s not always this straight … 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
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
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
Bookkeeping services – Advantages
Running a business can be time-consuming, stressful and even overwhelming at times. We understand how easy it is to lose track of managing, monitoring and keeping a thorough record of transactions and finances on top of everything else. However, it is a legal obligation to keep these records. Not doing so adequately can result in … Continue Reading
Stressed about VAT? Here are some tips
Stressed about VAT? VAT can be an incredibly stressful and complicated process. Due to the seemingly endless and sometimes confusing rules. It can be overwhelming and difficult to know whether you are correctly handling your VAT. Or if your business is overpaying or underpaying. If after reading this article you decide an accountant can help … Continue Reading
Setting up a new company in Sheffield or Nottingham? We can help
Are you looking to set up a limited company? A limited company is a great way to give your business a professional edge, it makes your business its own entity and allows you to experience a range of benefits including limited liability and tax efficiency. Creating a new limited company may sound daunting but it … Continue Reading
