For business owners, it can be a balancing act to find the most tax-efficient way to get paid from the company’s profits. In the UK, a company director can choose to take their earnings as a dividend or as a salary. But both have different tax implications, so it is important to understand the difference between the two before making a decision. What is a dividend? A dividend is a distribution of a company’s profits…
Small business payroll is the process of paying your employees, and it can be quite a daunting task if you’ve never done it before, or if you are moving software or suppliers. This article will guide you through what to do when you need to start running a payroll, what options there are for doing it, software to use and service professionals who can do it for you. Let’s Start With Payroll Compliance When you…
Chancellor Rishi Sunak has announced that the cut in VAT rates for the hospitality sector, which came into force back in July, will be extended until 31 March 2021. It was previously going to end on the 13 January 2021. The cut applies to vat registered organisations that make supplies of hospitality, hotel and holiday accommodation and admission to certain attractions, and their advisers. The rate was originally cut on 8 July 2020, when the…
Revo, the retail property lobby group, is calling on the government to drastically cut the business rates multiplier and cap it at 30%. It comes in response to the UK government’s consultation on business rates reform for England. The current business rates multiplier stands at 51%. The government confirmed in July this year that the next business rates consultation would take place in 2023. If the rate is capped at the suggested 30% it could…
Customer management is a must in any kind of business. The services or products that a company provides are significantly influenced by the needs and preferences of their target market. Dealing with customers these days is made faster and more convenient thanks to the creation of the CRM system. Like any business solution catering to project management, this type of software plays a significant part in improving business productivity. What does CRM stand for then?…
Whether you approach your time and working day like Elon Musk or are more like Jeff Bezos, running a small business is a little bit different to their view of the world. A balanced life at home and at work requires effort. If only there was a pill that would instantly take away wasteful thoughts and improve our focus. However, we can easily make a start on rituals in preparation before work or warm up…
