Charley Wade

NMW and NLW changes – April 2024

The Low Pay Commission (LPC) functions as an independent public body providing counsel to the Government on National Minimum Wage (NMW) rates, including the National Living Wage (NLW). Comprising nine Commissioners representing employers, workers, and independent experts, the LPC has consistently offered unanimous recommendations to the Government since 1998.  National Living Wage (NLW) and National […]

NMW and NLW changes – April 2024 Read More »

accountancy skills

Skills Needed for a Successful Accounting Career

An accountant is often perceived as someone immersed in number crunching, but the role extends beyond mere calculations. What truly defines an accountant’s responsibilities and skills required?  Analytical Skills  In the past, accountants engaged in manual data entry and spreadsheet tasks, interpreting figures afterwards. Nowadays, automation handles repetitive tasks, generating analytical data for accountants to

Skills Needed for a Successful Accounting Career Read More »

IR35

Why is Managing Cash Flow crucial to a business?

To control its operations, a business must generate sufficient cash to cover daily operational expenses and avoid accumulating debt. The absence of adequate cash can impede the effective functioning of a business, jeopardising routine activities such as vendor payments, rent or mortgage, utility bills, and employee salaries. Enhancing cash management involves focusing on three key

Why is Managing Cash Flow crucial to a business? Read More »

Self Assessment – Mistakes to Avoid

Submitting your Self-Assessment Tax Return accurately and punctually is crucial to avoid penalties. Here are some key points to consider:  Selecting the Correct Accounting Method:  HMRC offers two simplified tax schemes for smaller businesses (sole traders or partnerships): ‘Cash Basis’ and ‘Simplified Expenses.’  Cash Basis: Record income and expenses based on actual cash transactions or

Self Assessment – Mistakes to Avoid Read More »

tips for freelancers

Top Money-Saving Tips for Freelancers

Freelancing offers the freedom and flexibility that many individuals crave, but it also comes with financial challenges that demand careful money management. Balancing irregular income, covering expenses, and planning requires strategic thinking. Here are top money-saving tips to help freelancers navigate the financial roller coaster and secure their financial well-being. Create a Budget Establish a

Top Money-Saving Tips for Freelancers Read More »

accountant

How to choose the right accountant

Selecting the appropriate accountant entails more than just finding someone compatible on a personal level. It’s essential to have confidence that your chosen professional will exhibit proactivity and dependability, becoming an asset to your business. A proficient accountant furnishes you with reliable financial insights necessary for informed decision-making, fostering your business’s advancement. Know how much help you are going to need   Understanding

How to choose the right accountant Read More »

business financial fraud

How to avoid becoming a victim of business financial fraud

Business fraud refers to illicit activities carried out by individuals or companies with the intention of deceiving or misrepresenting themselves. It involves unethical and dishonest practices aimed at benefiting the perpetrators.  Regardless of their size, any business can fall victim to fraud, especially with the current cost of living crisis and other contributing factors adding

How to avoid becoming a victim of business financial fraud Read More »

online business

8 accounting practices to use for an online business

During the pandemic, online shopping increased as high street stores were forced to close. E-commerce can have a high volume of everyday transactions which are kept on the selling channel, rather than in the bank account making it difficult to keep track of. Here are a few pointers which should help Hire an Accountant Keep accurate financial records Understand tax

8 accounting practices to use for an online business Read More »