Are you considering switching to a challenger bank? In this blog post, we’ll take a closer look at challenger banks and explore whether or not they’re a good option for you. So-called challenger banks are trying to change how banking is done by offering more convenient and customer-centric banking services. They often operate online or […]
Shares, also known as stocks or equities, represent a unit of ownership in a company. They are a way for individuals or organisations to invest in a business and share its profits or losses. Shares can be bought and sold on stock exchanges or through private transactions. The ownership of shares can provide certain rights […]
Holding too much cash in your business has several possible implications. Not only are cash returns poor and inefficient, but holding significant surplus cash funds can impact your inability to benefit from a range of important tax reliefs. The worst-case scenario is that excess cash can affect the trading status of your business, turning it […]
Capital allowances are a valuable tax relief that allows businesses to claim tax deductions on the capital expenditure they incur when purchasing certain assets. These assets could include plant and machinery, office equipment, and commercial vehicles. In this blog, we will explore the available capital allowances, how to claim them, and the potential benefits they […]
At RJF Accounting, we speak with businesses of all shapes and sizes, from new startups and freelancers to large companies with hundreds of employees. However, the one thing all businesses have in common is the desire to scale up their offerings and make more profit; that is what we are all in business for – […]
Having a great business plan can help you get your startup off the ground. It can help you refine your strategy, identify any potential issues, map out what resources you may need, and help you to test the viability of your idea. Having a business plan will not guarantee business success in the same way […]
If you are launching a startup, then kudos to you! Startup business owners need to be a lot of things from sales, bookkeeping, staffing, designing, stocktaker, chef, bakers and candlestick makers! You wear many hats as a startup owner, and we have not even mentioned accounting yet! However, accounting is one of the most important; […]
Self-assessment tax returns can be stressful, especially if you do not know what jargon is used and what needs to go into each box. SATR errors are more common than you might think, and often it, can result in you having to either pay too much tax or not paying enough; either way, it can be costly. HMRC are used to people making errors on their tax returns. This can be a deliberate mistake to avoid paying taxes or an oversight that needs to be corrected. Either way, the penalties can be severe, so doing what you can to prevent them is always best. In this blog post, RJF Accounting will run you through what happens if you make an error on your tax return, how to put it right, and what possible penalties you could face.
The Autumn Statement was announced by Jeremy Hunt on November 17 2022 and outlined the UK government’s plans for the coming years to balance the books and attempt to kick-start growth in the economy. You might be thinking beyond the headlines what does it all mean for you as a business owner?
If you run a limited company, you may have come across the term directors loan or directors loan account and wondered what it is, or even you could be looking at ways you can withdraw money from your limited company to cover an emergency bill or large purchase and heard about directors loans. No matter […]
What are the most tax-efficient ways to take money from a limited company? When running a successful small business, you want to earn the rewards of your hard work. Although retaining money in the business is essential to maintain growth and increase efficiency, you also need to extract cash to provide a current and future […]
Running a business is ultra-competitive no matter what niche you work in. With ever-tightening margins and rising costs, it can be easy to see why many small business owners and start-ups opt for the DIY accounting route to save what can often be seen as “just another invoice to pay”. But hiring an accountant could […]