Tax News and Updates – September 2018

In this month’s episode of Tax News and Updates: HMRC is urging UK taxpayers to come forward and declare any foreign income or profits on offshore assets before 30 September… Download the full article below.

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Monitoring and Maintaining Cash Flow

Once we’ve prepared a cash flow statement (see our post from August 2018), we can then start to maintain and improve our cash flow, and over the months monitor our cash flow to ensure that we have enough cash to pay our bills. The first section of the cash flow – “Cash Flow from Operating…

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Post holiday reflections

The two week annual holiday is a good time to rest and reflect away from the routine of running a business and the everyday challenges that need to be dealt with. I should know as I have just come back from mine. It should give you time to wind down and have a period of…

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Understanding the importance of Cash Flow

We often hear the saying that “Cash is King” but have you ever actually prepared a statement of cash flow to see your current cash position? A Cash Flow Statement gives you the ability to see the cash received during the period against the cash outgoings in the same period to show the overall movement…

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Do you run the business or does the business run you?

“I know enough to make this business a success.” This was just one of a few fatal fallacies delivered to me in a conversation with a business owner who actually wanted to grow his business. All too often small and medium business owners can fall into the ‘I can do this on my own’ trap….

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Make Tax Digital for Business

Make Tax Digital for Business (MTDfB) is being introduced from 1st April 2019 for VAT registered businesses with turnovers of more than £85,000. To comply businesses will have to have ‘functional compatible software’ which is a software programme or set of programmes that records and preserves electronically transactions so that those records together with VAT…

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