As the 2023-24 tax year ended on 5th April 2024, many small business owners may be tempted to put off their tax returns until later in the year.
However, early tax preparation can save you from last-minute stress, help you avoid costly mistakes, and ensure you’re not scrambling to meet the deadline.
Here’s how you can get ahead and make the most of the months leading up to tax season.
Running a business is a juggling act, especially when you're the director. Balancing the books while steering the company toward growth is no easy feat. One financial tool that often causes confusion but is crucial to understand is the Director’s Loan Account (DLA)....
Running a small business is no easy feat, especially when it comes to managing HR and payroll tasks. At Accounts Direct, we understand that your time is better spent growing your business, rather than getting bogged down in administrative duties. That’s why we offer...
Starting a business as a sole trader is the simplest way to dip your toes into entrepreneurship. You register with HMRC, file an annual tax return, and handle VAT if applicable. It’s straightforward, especially in the early stages when your business is just finding...
On 1st August 2024, the Bank of England (BoE) announced a cut in interest rates from 5.25% to 5%. This decision marks the first rate drop since March 2020, as the economy grapples with post-pandemic recovery and inflation management. For small businesses, this rate...
The Government has recently unveiled significant changes to the taxation system for non-UK domiciled individuals, aiming to create a fairer and more competitive landscape. For small businesses in the UK, understanding these changes is crucial as they could impact...
Sustainability isn't just a buzzword—it's a game-changer. For small businesses in the UK, embracing sustainable practices can bring numerous benefits. From cost savings to attracting eco-conscious customers, going green is a smart move. At Accounts Direct, we’re here...
Switching to an electric vehicle (EV) for your small business is a significant decision, and it’s important to weigh the pros and cons before making the leap.
Starting a new business is an exciting adventure, but before you dive into creating your product or setting up your website, there’s a crucial step you must take: market research.
This essential first step provides insights into your market, helps you understand your customers, and reveals the strengths and weaknesses of your competitors.
Market research is key to ensuring your new business hits the ground running.
Running a small business can be as thrilling as a rollercoaster ride, filled with ups, downs, and unexpected turns.
One of the essential components of this adventure is understanding the role of company shareholders.
Whether you’re a seasoned entrepreneur or just starting, knowing what shareholders do and why they matter can help you steer your business to success.
So, let’s dive into the world of shareholders.
Running a small business comes with numerous responsibilities, especially when it comes to managing your finances. One area that often causes confusion is the taxation of dividends.
At Accounts Direct, we’re here to demystify this topic and help you understand how to manage dividend payments efficiently and legally. Understanding how dividends are taxed can significantly impact your financial planning and tax liabilities.
Starting a small business in the UK is an exciting venture, but it also comes with its fair share of challenges—particularly when it comes to accounting.
Proper financial management is crucial for the success and sustainability of your business.
Here at Accounts Direct, we’ve seen how small missteps can snowball into significant problems.
To help you navigate the complexities of business finance, we’ve compiled a list of common accounting mistakes that UK startups often make and how to avoid them.