Starting a business as a sole trader is the simplest way to dip your toes into entrepreneurship. You register with HMRC, file an annual tax return, and handle VAT if applicable. It’s straightforward, especially in the early stages when your business is just finding...
On 1st August 2024, the Bank of England (BoE) announced a cut in interest rates from 5.25% to 5%. This decision marks the first rate drop since March 2020, as the economy grapples with post-pandemic recovery and inflation management. For small businesses, this rate...
The Government has recently unveiled significant changes to the taxation system for non-UK domiciled individuals, aiming to create a fairer and more competitive landscape. For small businesses in the UK, understanding these changes is crucial as they could impact...
Switching to an electric vehicle (EV) for your small business is a significant decision, and it’s important to weigh the pros and cons before making the leap.
Starting a new business is an exciting adventure, but before you dive into creating your product or setting up your website, there’s a crucial step you must take: market research.
This essential first step provides insights into your market, helps you understand your customers, and reveals the strengths and weaknesses of your competitors.
Market research is key to ensuring your new business hits the ground running.
Running a small business can be as thrilling as a rollercoaster ride, filled with ups, downs, and unexpected turns.
One of the essential components of this adventure is understanding the role of company shareholders.
Whether you’re a seasoned entrepreneur or just starting, knowing what shareholders do and why they matter can help you steer your business to success.
So, let’s dive into the world of shareholders.
Running a small business comes with numerous responsibilities, especially when it comes to managing your finances. One area that often causes confusion is the taxation of dividends.
At Accounts Direct, we’re here to demystify this topic and help you understand how to manage dividend payments efficiently and legally. Understanding how dividends are taxed can significantly impact your financial planning and tax liabilities.
Starting a small business in the UK is an exciting venture, but it also comes with its fair share of challenges—particularly when it comes to accounting.
Proper financial management is crucial for the success and sustainability of your business.
Here at Accounts Direct, we’ve seen how small missteps can snowball into significant problems.
To help you navigate the complexities of business finance, we’ve compiled a list of common accounting mistakes that UK startups often make and how to avoid them.
Thinking about ditching the 9-to-5 grind and taking control of your own destiny? Self-employment might just be the answer.
While being your own boss can be incredibly rewarding, it also comes with its fair share of challenges.
At Accounts Direct, we’re here to help you weigh up your options and make an informed decision about whether self-employment is right for you.
As a self-employed individual in the UK, managing your finances can sometimes feel like a full-time job. Among the many expenses you need to keep track of, mileage is a significant one, especially if you use your vehicle frequently for business purposes.
Understanding the HMRC mileage allowance rates for 2024 can help you claim the maximum relief possible and keep more of your hard-earned money in your pocket.
This blog provides vital information on mileage allowance for self-employed individuals in UK small businesses.
As the UK heads to the polls today, small businesses across the country are keenly watching the promises and policies of the major political parties.
Each party has laid out its vision for supporting SMEs, addressing key issues such as taxes, funding, business rates, and regulations. This blog looks at a breakdown of what the main parties are pledging and what it could mean for small businesses.
Cash flow is the lifeblood of any small business. It’s what keeps the lights on, the staff paid, and the wheels of your business turning. But what happens when your outgoings start to outstrip your incomings? Cash flow problems can quickly escalate, threatening the survival and growth of your business. Let’s explore common cash flow issues and how to tackle them effectively.