Having too much money owed can also damage your business. This is cash that you need to have in your business and to be able to use to grow and expand. Having them money tied up by being outstanding form customer will stop you from investing in to your business and cost you money to finance your working capital for your day to day expenses.
Read MoreAs a creative agency owner, you will have quickly realised that you need help with your bookkeeping. You don’t have the knowledge to do this yourself and your staff aren’t accountants—they are creative people and struggle with anything finance-based. You need help from your accountants to manage your finances for you and get everything in place so you can concentrate on running your business.
Read MoreThere may be a time in the life of your limited company that you decide to close it. This may be for a number of reasons, you may want to retire, stop trading or your company is experiencing financial problems and you decide that you want to close it. This is never an easy decision to make and needs to be made with the agreement of the directors and shareholders of the company.
Read MoreWhen you’ve decided to start your own business you will need to decide what legal structure you will use for your business. Will it be a limited company, limited liability partnership or a sole trader. Deciding on the legal structure you use will impact the amount that you pay in tax and national insurance and also the amount of risk that you have in the business.
Read MoreUnder the Pensions Act 2008 every employer has an obligation to put eligible members of their staff in a pension scheme and to make contributions into this. These obligations are called automatic enrollment.
Read MoreThe help to grow digital is part of the Government's Plan for Jobs scheme, to help the UK back to work and to recover from the effects that COVID-19 has had on the UK economy. The scheme is aimed at small to medium sized businesses looking to adopt digital technologies and software products to help make their business more efficient.
Read MoreBecause the benefit in kind tax is so low at the moment on electric cars it can make it attractive for owners of companies to make them available for their employees. The benefit in kind rate for pure electric cars are significantly lower than they are for petrol and diesel cars.
Read MoreInvoice factoring is a way that you can get extra finance in your company. As a company you will have many ways to make sure that you can meet your working capital requirements. This is even more so now with finance marketplace’s like Capitalise where you can connect your accounts and search for finance that is suitable for your business.
Read MoreThe UK officially left the EU on the 1st of January 2021 and since then the vat rules for charging vat on goods and services to EU countries has changed slightly. The EU is now treated as being outside of the UK vat system.
Read MoreA mission statement helps your business have a focus outside of the normal commercial world. It gives the business a greater relevance in the world that we live in. It is a statement to define how the company seeks to make the world a better place.
Read MoreThe term online accountants usually refers to accountants that provide their services using a variety of online software. They are normally doing the bookkeeping and accounts preparation in accounting software like Quickbooks or Xero and using a variety of third party apps to supplement them.
Read MoreDeciding how to pay yourself from your company requires a little bit of financial planning from a tax point of view. You are looking to keep to minimum the amount of tax you pay, but also do it in a way that is compliant. Finding the right mix of the payments that you take requires a bit of understanding about you and your company.
Read MoreThe IR35 or Off-payroll working rules are what HM Revenue uses to describe when an individual provides their services to another business through their own personal service company.
This employment chain can be quite simple in that it just involves the individual's personal service company and the end client, or it can be complex with a number of third parties involved. However long this chain is HMRC will look to see the end client that the individual is working for in this chain and a decision will be made if it is inside or outside IR35.
Read MoreIt is getting close to the time that you need to be sending your personal self assessment tax return to HM Revenue and Customs. The self assessment tax return form is something that everyone must do if they meet the following criteria
Read MoreWe offer a full range of accountancy services for creative freelancers and creative agencies.
We can help you complete and submit your accounts and tax returns to Companies House and HM Revenue and Customs
Read MoreWhere are you on your creative journey? Are you starting off as a freelancer or do you have your own creative agency? Knowing this will help you understand the help you need from an accountant. If you are just starting off, the help you need will be quite simple. You just need your accounts done and to know when you need to pay your taxes.
Read MoreA lifestyle business is something that is a business that give s the owner financial and creative freedom. Freedom to live the life that they want, to have the time to indulge their hobbies and passions. Time to spend with their family and the things that are important to them in their life.
Read MoreThere are a lot of apps that can make running your business easier. They can automate a lot of the boring admin stuff to leave you free to spend more time on your business. We have curated a list of our favourites that we think can help make your business run smoother and give you more time to spend on the creative projects that you love to do.
Read MoreBeing able to understand accounting terms and accounting concepts will help you in your business in the short term and the long term. You need to be able to understand the financial health of your company from its financial statements and the annual reports. These reports will help you see where your company is now and where it will be in future.
Read MoreThe Creative Industry reliefs consist of a number of tax reliefs targeted to companies that work in the creative arts. These include
Video Games
Films
Animations
High End Television
Children's television
