Stay safe online
The Xero Website had a good article about being safe online to protect yourself, your customers and employees.
Do one in three business need to change strategy?
All businesses should take time to think about the big picture – this is called Strategic Planning.
No gain mean no pain
Married couples and civil partners can reduce Capital Gains Tax (CGT) by making use of a special rule which allows them to transfer assets between them at a value that means there is no gain or loss for tax purposes.
Common VAT Traps
Here are some VAT traps to be aware of.
Saving for children
If a parent saves money in the child’s name in a standard savings account then if the interest is over £100 it will be taxed in the parent’s name.
Avoiding 60% tax
You effectively pay tax at 60% on income over £100,000 because you pay tax at 40%, plus you start to lose your personal allowance, which also increases your tax.
Take time and celebrate small successes
In the construction industry, it’s traditional to have a “topping-out” ceremony to celebrate the progress when the last beam is in placed on a building, In the same way, as a business owner you can celebrate progress on building your business.
Most common measurements
A business owner or manager needs information to manage a business – this information is reported in numbers. These are the most common measurements.
Be careful with goals
Setting goals is common business advice. Hundreds of studies have demonstrated that setting goals can improve results.
Xero advice on invoicing
Xero accounting software have analysed over 12 million invoices and asked 1,500 small businesses for their tips and tricks how to get paid on time.
