Are you a business owner contemplating the big step of selling your enterprise or perhaps parting ways with certain assets? Navigating the complexities of business sales and asset disposal can be daunting, but what if there was a way to soften the financial blow? Enter Business Asset Disposal Relief (BADR), a valuable tax incentive that could save you thousands of pounds.
Embarking on the entrepreneurial journey is both exhilarating and daunting. Whether pondering how to start a business from scratch or taking baby steps towards entrepreneurship, you’re not alone.
Are you puzzled about terms like trade debtors and outstanding debtors, and what these mean on your balance sheet? In today’s post, we aim to clarify what is a trade debtor, the importance of trade debtors in a balance sheet, and how understanding this concept is crucial for your financial management.
Sundry expenses, what they are and why they matter in accounting? Understanding what sundry expenses are and how to record them…
Navigating the landscape of sick pay when you’re self-employed in the UK can be a complex journey filled with many questions and uncertainties. You may wonder, can self-employed claim sick pay? Or perhaps, what can I claim if I am self-employed and off ill? The answers to these and many other questions are not always straightforward.
What is the difference between a director and a shareholder? Understanding these terms is crucial for anyone involved in business, as they define distinct roles with varying responsibilities and benefits.
Are you launching a new business? You’ve got awesome ideas and the passion for making them come to life, but do you have the solid foundation to ensure your business remains on a level footing and fully compliant with the tax legislation here in the UK? Kicking off a business involves: Often, startup owners find […]
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As an entrepreneur or business owner, establishing the value and price of your products or services is a vital decision that can significantly impact the growth and sustainability of your business. The complexity of this task lies in the numerous factors that need to be thought through, such as market demand, competition, and costs. To help you to overcome these challenges, RJF Accounting has produced this guide that reveals a wealth of techniques and best practices for setting prices, ensuring that you develop a competitive edge while maintaining profitability.
Accounting services can be complex, and like most industries, there are specialists and generalists, each with their area of expertise to choose from, so it can be hard to know what accounting services best fit your needs. In this RJF Accounting blog, we will advise on some available accounting services and why you might need […]
The personal tax allowance is the income you can earn in any tax year not subject to tax and is reflected in your Tax Code. Your tax allowance depends on your circumstances and changes from person to person depending on several factors, which we will run through in this RJF Accounting guide. By the end […]
On April 1st 2023, the UK government introduced the small profits rate of corporation tax, which has led to lots of confusion for small business owners about how to calculate the amount of corporation tax because it is now a tiered system. In this RJF Accounting blog, we will explain what you need to know […]
Knowing what you can and cannot claim on expenses when you are a sole trader can be tricky. With so many rules from HRMC, it can be easy to miss some vital ones that could reduce your tax bill and keep more of your hard-earned cash in your pocket! This RJF Accounting guide will run […]