One of the lessons we should take away from the COVID experience – in a business context – is the ability to recover quickly from unexpected challenges.
Firms in the hospitality and entertainment sectors are excused as they have had no power to act in their own best interest due to government lockdown directives.
The rest of us, to varying degrees, have either managed to weather COVID disruption or been forced out of business.
Financially, if your business had significant cash reserves or other assets that could be converted to cash, then it would be in a much better place to survive COVID disruption than firms who had stripped out cash reserves to support the lifestyle costs of the owners or that were already in a parlous financial state due to difficult trading challenges prior to the COVID outbreak.
There will always be a trade-off between retaining profits as a rainy-day fund, investing funds in business development or withdrawing funds to support personal goals.
COVID has woken us up to the value of resilience, one more factor that we will be wise to consider when planning our businesses development from now on.
Choosing between Xero and QuickBooks can affect how efficiently your business manages invoices, reconciles bank transactions, processes payroll and prepares...
If you owe HMRC money and you have been ignoring the letters, the rules around what can happen next are...
A construction subcontractor may complete a job worth thousands of pounds, only to find that the contractor has deducted 30%...
The property income tax rates April 2027 will increase the tax paid by individuals receiving rental income directly. From 6...
Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The relief was renamed in...
Electric vehicles (EVs) can offer significant tax advantages for UK limited companies, particularly those purchasing company cars or providing electric...
A small business spends £2,000 on Google Ads, social media campaigns and printed promotional materials. When preparing its tax return,...
The VAT threshold for UK businesses in 2026/27 is £90,000 in taxable turnover over a rolling 12-month period. Businesses must...
The benefits of a tax advisor include legitimate tax savings, improved cash flow, reduced compliance risks and better financial decisions....
Founders’ Relief is a proposed new capital gains tax relief for founders and significant early investors in high-growth UK companies....
