Accounting

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.

In the ever-evolving landscape of digital information, data protection is a critical issue that small businesses cannot afford to ignore. Whether you’re just starting out or have been in business for a while, understanding and implementing robust data protection practices is essential.
This blog reviews why data protection matters for small businesses and how you can stay compliant.

With the general election approaching, there’s an air of uncertainty that could significantly impact small and medium-sized enterprises (SMEs) across the UK. One of the most pressing concerns for business owners is the potential changes to capital gains tax (CGT). As the backbone of the UK economy, SMEs rely heavily on private investment to fuel growth and innovation. 

But what happens if the rules around CGT change? Let’s dive into a topic that might not be as thrilling as your latest business venture, but it’s just as crucial – capital gains tax.

Choosing the right accounting method can make a significant difference for small business owners. For many small businesses, the cash basis accounting method offers a straightforward, less complicated alternative to the traditional accruals basis. This guide will walk you through the essentials of cash basis accounting and how it can benefit your business.

As of 1st May 2024, Companies House has implemented fee increases impacting both new and existing companies in the UK. While these changes aim to cover service delivery expenses and are not profit-driven, they present new challenges for small businesses.

This blog looks at what’s changed and how it affects small Businesses.

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