Changing from a Limited Company to a Sole Trader: What You Need to Know
There are many reasons for changing from a limited company to a sole trader. Company owners believe that sole proprietorship is a simple and convenient...
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The Pros and Cons of Trading as a Limited Company in the UK
Due to numerous tax incentives, many businesses prefer to be limited companies in the UK. In fact, trading as a limited company helps you to...
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How to Read Company Accounts?
Whether you want to establish a company, want to do research, or just trying to understand the financial terminologies of the accounts. Reading and understanding...
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Why Do You Need to Know About Working Capital Formula?
Do you want to measure the financial health and success of your business? Though you can get a fair view of your success through your...
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Construction Industry Scheme Works – The Beginner’s Guide!
If you intend to work as a main contractor in the industry, you must register your business for CIS. You are required to verify subcontractors...
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What is Cash Flow Forecasting? Process, Advantages
Managing the financial affairs of a business can be overwhelming for many business owners. You don’t need to be an expert in accounting or bookkeeping,...
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A Beginner’s Guide to a Profit & Loss Statement
If you want to figure out how well your business is performing, one of the most important tools of your annual financial accounts is the...
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What are Current Assets? Definition, Classification, Calculation, and Example
Every business needs assets for carrying out its business operations. Whether you're a technician, doctor, business owner or a company's director, you need to be...
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The Pros and Cons of Crowdfunding for Business
With increasing popularity, crowdfunding has become one of the most viable ways to raise capital for your business. The emergence of platforms like Kickstarter and...
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How to Set Up a Limited Company with HMRC as a Non-UK Resident?
Want to find out how to set up a limited company with HMRC as a non-UK resident? Don't worry, the process is pretty simple, even...
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What is Bank Reconciliation and How to Do it?
In this digital banking system, many people overlook the importance of bank reconciliation. However, you need to remember that banks can also make mistakes. To...
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what are the Workplace Pension Contributions?
If you're a limited company owner looking for a tax advantage, workplace pension contributions are worth considering. These contributions are taken as an allowable business...
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3 Reasons Your Small Business Needs a Good Accountant
To properly run a business, you’ll need a steady flow of records, reports, data, and other accurate reports, all reflecting your business’s assets and liabilities,...
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Zero-Based Budgeting: Importance, Steps, Pros and Cons
Zero Based Budgeting is a technique used in budgeting that involves preparing the budget from zero base. This method helps companies to align their spending...
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Can I Use Company Money to Pay my Personal Mortgage?
People, who're in the contracting business, often ask us 'Can I use Company's money to pay my personal mortgage?' The answer is no! Read on...
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Can a Sole Trader have Employees?
Wondering can a sole trader have employees! Of course, if a person wants to expand his business, he/she can hire more people for his business...
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How Much Does It Cost To Hire A CPA?
Irrespective of the size, every business has to maintain accounts. Whether you're a sole trader, startup, freelancer, landlord, or small business, you need an accountant...
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The UK Value Added Tax Rate (VAT) Explained
Value-added tax (VAT) is levied on goods and services in the UK. It is a type of consumption tax, as it is levied on the...
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Why Do Contractors Need Pensions?
To live a life like today after retirement, you need to invest in pensions. Pensions are the seeds that need to be planted and watered...
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What is an Early Payment Discount?
Early payment discount is also known as prompt payment discount. It is the early settlement discount buyers receive in exchange for paying invoices early. You...
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