Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of personal and family companies, can control how and when they are paid and, in the absence of special rules, would be able to reduce their Class 1 National Insurance liability by manipulating
NIC and company directors Read More »
A PAYE Settlement Agreement (PSA) enables an employer to meet the tax on certain benefits and expenses on the employee’s behalf. This can be useful to preserve the goodwill nature of a benefit. Not all benefits are suitable for inclusion within a PSA. To qualify a benefit must fall into one of the following categories:
Amend Your PSA For Covid-19 Related Benefits Read More »
Risk management is the process of tackling risks that could adversely affect your business. Risks can be external as well as internal. Any business, regardless of its industry or size, could encounter a risk. It can have a significant impact on business activities. Risks could affect the long-term stability of any business. For this reason,
What is Risk Management: How Can You Protect Your Small Business? Read More »
Want to get success as a small business? Find out a niche market. If you keep on working on a specific niche, you can get a prominent position in that niche after some time. As people are looking for specific products and services for their specific niche. But finding and deciding a niche market can
How to Find a Niche Market and Make It Your Own Read More »
To figure out ‘what is a mission statement?’, you should ask yourself ‘what’s the purpose of your business?’ It is a concise statement that provides information on what your business is about, why it exists, and what is the mission of your business. Generally, it is as short as a single sentence or small paragraph.
What is a Mission Statement? Read More »
If you want to find out the return on your investment, you should do a performance check using ROI. Return on investment is also used to analyze the efficiency of various investments and to find out the most profitable one. It basically shows the returns on investments against the cost incurred on a certain investment.
What Is Return on Investment or ROI? Read More »
Many of our customers frequently ask: How to do sales forecast? If you’re also looking to find out the answer, it means you’re eager and optimistic about your company’s future. But forecasting the sales and predicting the revenue from it is a daunting process as it needs deep expertise and knowledge to see the future
How to Forecast Sales for your Business the Right Way Read More »
A cash flow statement lets you know about the cash that is coming in and going out of your business. It is one of the most important financial documents, along with a balance sheet and income statement, to manage finances and to secure your business’s future. Before going into the details, first, we should know
Understanding the Cash Flow Statement Read More »
For achieving your business goals, you need to have a business plan beforehand. A business plan will keep your business on track to reach your business goal. Writing a business plan can be challenging, but if you create it before starting your business venture, you will reap great benefits from it. It is required for
How to Write a Small Business Plan Like a Boss Read More »
A ‘Directors Loan Account’ (DLA) is an account in the company’s financial books that records all transactions between a director who is a participator (or another participator) and the company. Transactions through the account include: a loan to the company from the director; or visa versa monies drawn by the director on account of salary,
Directors’ Loan Accounts Read More »
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