Are you wondering what is finance? And, what are the different types of finance and why is it important? If these questions about finance excite you and you have no idea how to find the answers to them, then you must continue reading this article as we are going to answer all of your questions.
Main Types of Finance Read More »
Days Sales Outstanding is an important component of the Cash Conversion Cycle (CCC) in a business. This metric is crucial to understanding the cash flow problems and supply chain process. CCC helps identify the issues with the efficiency of the management and sales team in delivering products from inventory to customers and receiving cash in
Days Sales Outstanding (DSO) – Definition, Formula, Importance Read More »
Business Process Automation has revolutionised the workplace with its fast-developing technology and replacing humans at a fast pace. Now, you can observe a single software tool performing the work of many people at a time. And, this work is error-proof, consistent, and repetitive in nature. More recently, business process automation has become quite popular due
10 Key Benefits of Business Process Automation Read More »
The property income allowance allows you to earn a small amount of rental income tax-free each year. It is useful where the rent-a-room scheme does not apply (which is limited to the letting of furnished accommodation in your own home), and removes the need to report small amounts of rental income to HMRC. The
Making Use of The Property Income Allowance Read More »
When you start a business, you will need to incur costs before you are able to start trading. Did you know that you are able to claim tax relief for these? Relief is available for unincorporated businesses for income tax purposes and also for companies for corporation tax purposes. Typically, you may need to incur
Relief For Pre-Trading Expenses Read More »
Forecasting revenue is a crucial part of the success of a business. If you have no revenue forecasting, it means you are managing your business blindly and you will end up going nowhere. For that reason, projections based on data are at the centre of the successful planning of a business. Planning guides you on
A GPS For Success: Forecasting Revenue and Growth in Your Business Read More »
Are you struggling to analyse the financial position of your business in different key areas? For example, you can analyse the financial performance of a company by calculating specific financial performance indicators. On the other hand, you can estimate the efficiency of business operations and customer service by using other Key Performance Indicators (KPIs). These
12 Key Financial Performance Indicators You Should Be Tracking Read More »
Although the National Insurance rates and thresholds for 2022/23 had already been set, at the time of the Spring Statement in March 2022, the Chancellor announced increases in the primary threshold which would align the starting point for National Insurance with the personal allowance from 6 July 2022. However, as the increase does not take
National Insurance Changes from July 2022 Read More »
To help companies realising losses as a result of the Covid-19 pandemic, the loss relief rules were amended to provide for an extended carry-back window. Where companies are making a claim for relief under the extended carry-back rules, the claim can be made online rather than waiting until the company tax return is filed.
Companies – Claim Extended Loss Relief Online Read More »
A lot of time and paperwork can be saved by claiming expenses using the simplified rates, rather than recording and deducting actual costs. However, if the deduction is considerably higher using actual costs, the additional time investment may be worthwhile. Given current high cost of fuel, where mileage is high, a deduction based on actual
Use Simplified Expenses to Save Work Read More »
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