For most office based employees, work means sitting for long hours. Medical research has proved this has adverse health effects. … Continue Reading
The Mumpreneur Revolution
Mumpreneurs is a relatively new term used to describe mums who want it all and are happy to go out there and work for it. With escalating childcare costs, more and more mothers are turning to self-employment or freelancing, leaving them with the flexibility to care for their children while also still earning a living.
Women in business have struggled for a long time trying to juggle everything and find the enigma that is the ‘work/life balance’. One child does not seem to tip the scales too much but once you have had your second, third or even fourth, the related costs such as childcare outweigh the financial benefits of working the 9 to 5.
In fact, it is estimated that childcare costs have risen by a fifth in the last year, with an average cost of around £12,000 to cover childcare for 2 children. Research carried out by the insurers LV= concluded children were at their most expensive between the ages of one and four mainly due to the spiralling costs of nursery fees. This is why more and more women have turned to self-employment and so the term ‘mumpreneur’ was born…. Continue Reading
Choosing Your Accountant
Appointing a suitable accountant is an important business decision. This is because it will be a long term business relationship supporting you on some of the key aspects of your business.
It is vital that you find an accountant that has the relevant qualifications and has a credible reputation and is suited to the way you work.
We hope the following information will help you when searching for an accountant that would meet your needs.
Qualifications
Did you know that anyone can set up as an accountant in the United Kingdom? This is why it is imperative to assess a person’s qualifications; otherwise you could end up paying for the services of someone who does not have the necessary skills or experience. The accountant in question should at least hold one of the following qualifications:… Continue Reading
Healthy to have your Business in the Cloud
Cloud computing is taking over from traditional desktop software, and is one of the most revolutionary changes seen in computing during recent years. Small business owners are seeing the value of storing their business information in the cloud, in terms of operational flexibility and also security.
We at Southside Accountants in Wimbledon SW19 firmly believe that cloud accounting is the way forward, and have used the award-winning Xero accounting and QuickBooks software for some time. We explain what cloud accounting is, and detail the main benefits below.
Instant access from anywhere with an internet connection
Real-time access to financial data is available at the click of a mouse. As long as you keep your information up-to-date, it can be viewed at any time of the day or night.
Pay-as-you-go software
Unlike desktop software which is, usually, paid for in total, access to cloud accounting solutions can be bought on a monthly subscription basis. This aids cash flow and makes it easier to budget.… Continue Reading
Growth Vouchers – Free Cash for Your Business
Growth Vouchers were introduced by the government to give small business owners access to professional advice and guidance. The scheme was announced by the Chancellor as part of the 2013 Budget, and has funds of around £30 million.
Online applications can be made for the vouchers, with qualifying businesses being chosen at random. If you need help or advice about the programme or your eligibility, Southside Accountants in Southfields SW19 provide friendly but professional guidance…. Continue Reading
Do management accounts help?
Management accounts help those running a company to understand the financial side of their business. Used as a source of information to make strategic decisions, they are often prepared on a monthly or quarterly basis, and can be tailored to a company’s individual needs.
Management accounts are not a legal requirement as with financial accounts; they act as more of a guide. Southside Accountants in Streatham SW16 offer management accounts preparation as part of their service, helping clients to understand their business finances.
What do management accounts include?
They can include any information that would be useful to management, and be as straightforward or as complicated as necessary. It all depends on what information is needed to make long-term decisions…. Continue Reading
Cash is King – Accountants in Wimbledon
Healthy cash flow is a very important aspect of running a successful business. Too many business owners focus on profit rather than liquid cash, all too often resulting in an inability to pay suppliers and staff at the end of the month.
Southside Accountants in Wimbledon offer cash flow advice tailored to each client. For some initial help though, take a look at the tips below and see if you can improve the flow of cash through your business. … Continue Reading
The Benefits of e-Learning
“If you have a reliable, high speed internet connection you have a great opportunity to exploit the resources of reputable e-Learning providers, thus strengthening all business and technical areas within your company”
Keeping your small business going is demanding and varied work!
Any company needs a competent, confident work force that gets the job done and is able to demonstrate to new and existing customers that you are on top of everything. New orders, invoicing, company website maintenance – these are all things that you can’t afford to get wrong. You may not want to divert valuable financial resources into the hiring of consultants or other third-party specialists who may be able to help you achieve these things. So what is the answer?… Continue Reading
Requirements for Company Letterheads, Emails and Websites
All company letterheads and invoices require the following information:
- Full company name including ‘Limited’ if appropriate
- Address of the registered office
- Company registration number as issued by Companies House
- Company VAT number, if applicable
- Whether the company was incorporated in England and Wales, or Scotland
- For members of a regulated profession, all relevant membership details
Names of directors
If one director’s name is listed, all directors must be included, but it is also acceptable to not list any of them…. Continue Reading
Question and Answer – non-executive director
Q. I am a non-executive director of a number of companies. Can I offer consultancy services to those companies on a self-employed basis?
A. You can offer your services to those companies on a self-employed basis, but you need to have a clear contract which distinguishes your work as a consultant from work you do as a director. The self-employed tasks need to be invoiced separately and declared to HMRC as a separate business from your fees as a director.
Generally the fees for work you perform as a director should be taxed under PAYE. Legislation introduced in the Finance Act 2013 requires the IR35 provisions to apply to work done as officers where that work is charged through a third party, such as a personal service company.
If you would like any further information, please do not hesitate to contact Southside Accountants Wimbledon & London.
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