Was it a good Budget for you? The Spring Budget didn’t startle, but it was a generally gloomy one for business owners. What changes were announced and how might they affect you? Dividends. The so-called dividend allowance (DA) of £5,000, which is actually a 0% rate band, introduced on 6 April 2016 will be slashed [...]
From 6 April you have to keep a record of the people who control your company. From 30 June you have to give details of these people to Companies House. The question is: who does control your company? Some of the answers are easy. Anyone who owns more than 25% of the shares or voting [...]
New regulations came into force on 1 December 2014 which apply to eligible parents where a baby is due, or a child is placed for adoption, on or after 5 April 2015 enabling parents flexibility in the way they take their parental leave. If an employee is eligible for Shared Parental Leave they can use it to take [...]
If you need to borrow for your business it is important to ask yourself a number of questions before you approach a financial institution like a bank. Am I giving too much credit to my customers? Are my stocks too high? Am I getting enough credit from my suppliers? Am I living beyond my means? [...]
Since the beginning of this year, the VAT rules on selling digitally to non-registered businesses in the EU have changed. If you sell to the public such things as images or text, photos, e-books, games, web-hosting services, software, website advertising (the list goes on and on) then legally you have to register for VAT in [...]
Break the basic rules on credit control and you soon lose out. But we are all guilty of lapses. What are the basic rules? Don’t give credit unless you really have to. If someone wants credit, get them to provide two trade references. Keep the credit period short. There is nothing magic in 30 days [...]
When you get to sell your business, you will hopefully be able to pay tax on the profit you are making at 10%. This is because of Entrepreneurs Relief which is available through the Capital Gains Tax legislation. However there are some issues to watch. The gain subject to 10% is limited to £2million. It [...]
If you are a director of a limited company then there are three options open to you on income tax. The company could buy or lease the car and pay for all the running costs and fuel. Then you get charged to tax depending on the particular make and model of the vehicle. Or you [...]
At Network 4M a lot of us are mothers so we know what it is like to wake up to find one of your kids with lots of spots. You ask your husband but he has an important meeting – you are not allowed those. Your mother’s phone is on answerphone so things look bleak… [...]
One of the most frustrating experiences in a business is not getting paid. But how do you spot the customers who are going to do the dirty on you? Many small businesses are too informal when giving credit. When you get a new customer make them realise from the start that you do not give [...]