Posts by Kath Hiscock

World Environment Day, celebrated annually on June 5th, is a global platform for encouraging awareness and action for the protection of our environment. As businesses increasingly recognise their role in this effort, supporting World Environment Day 2024 can bring both environmental benefits and significant financial impacts. Let’s delve into how aligning with this important day can influence a company’s financial health. Enhanced Brand Reputation and Customer Loyalty Supporting World Environment Day showcases a company’s commitment to sustainability and social responsibility. Consumers today are more environmentally conscious than ever and prefer to support brands that reflect their values. By participating in
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New rates. Updated HMRC fuel rates (AFRs) from 1 June 2024 for fuel costs when using company cars. Engine Size                       Electric per mile        Petrol per mile        LPG per mile      Diesel per mile      1,400cc or less – 14p 11p – 1,401cc to2,000cc – 16p 13p – Over 2,000cc – 26p 21p   1,600cc or less – – – 13p 1,601cc to 2,000cc – – – 15p Over 2,000cc – – – 20p Hybrid cars are treated as either petrol or diesel
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The Bank of England’s interest rate – a seemingly distant economic metric – can have a profound impact on businesses and individuals alike. Whether you’re an entrepreneur, a homeowner, or simply someone with savings, the current interest rate in the UK holds implications that ripple through the economy. So, what does the current UK interest rate mean for you and your business? 1. Borrowing Costs: When the Bank of England raises the interest rate, borrowing becomes more expensive. For businesses reliant on loans and credit lines, this means higher costs of capital. Entrepreneurs seeking to expand their operations or invest
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In the dynamic landscape of entrepreneurship, micro-SMEs (Small and Medium-sized Enterprises) often operate as sole traders due to their simplicity and ease of setup. As a sole trader, you’re not just the brains behind the operation; you’re also the one responsible for navigating the complexities of taxes. However, with strategic planning and savvy financial management, you can leverage various methods to optimise your tax savings. Let’s delve into some practical tips for micro-SMEs to save taxes as a sole trader: 1. Keep Accurate Records Maintaining meticulous records of all your business transactions is the cornerstone of effective tax management. From
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Introduction: Reducing corporation tax liabilities is a key objective for many businesses operating in the UK. While paying taxes is a crucial part of contributing to society, it’s also essential for businesses to explore legitimate strategies to minimize their tax burden. In this blog post, we’ll explore seven effective ways for businesses to reduce their corporation tax bill in the UK. Utilise Tax Allowances and Deductions: One of the most straightforward ways to reduce your corporation tax bill is to take advantage of all available tax allowances and deductions. This includes allowances for capital expenditures, such as investments in machinery
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New rates. Updated advisory fuel rates (AFRs) from 1 March 2024 for fuel costs when using company cars. Engine Size                       Electric per mile        Petrol per mile        LPG per mile      Diesel per mile      1,400cc or less – 13p 11p – 1,401cc to2,000cc – 15p 13p – Over 2,000cc – 24p 21p   1,600cc or less – – – 12p 1,601cc to 2,000cc – – – 14p Over 2,000cc – – – 19p Hybrid cars are treated as either petrol or diesel
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New rates. Updated advisory fuel rates (AFRs) from 1 September 2023 for fuel costs when using company cars. Engine Size                       Electric per mile        Petrol per mile        LPG per mile      Diesel per mile      1,400cc or less – 13p 10p – 1,401cc to2,000cc – 16p 12p – Over 2,000cc – 25p 19p   1,600cc or less – – – 12p 1,601cc to 2,000cc – – – 14p Over 2,000cc – – – 19p Hybrid cars are treated as either petrol or diesel
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Introduction Payroll management is a critical aspect of running a business, but it can also be time-consuming and complex. Many companies are opting to outsource their payroll duties to specialised service providers. Outsourcing payroll not only saves valuable time and resources but also offers a range of benefits that can contribute to the overall success of a business. We explore some of the key advantages of outsourcing your payroll duties. Cost Savings One of the primary reasons businesses choose to outsource their payroll is the cost savings it can bring. Hiring and maintaining an in-house payroll team can be expensive,
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Introduction In today’s fast-paced business environment, managing accounting duties can be a time-consuming and complex task. Many businesses, both small and large, are recognising the advantages of outsourcing their accounting functions to specialised firms. Outsourcing accounting duties not only helps businesses streamline their financial processes but also enables them to focus on core activities and strategic decision-making. In this blog, we will explore the key benefits of outsourcing your accounting duties. Cost Savings One of the primary reasons businesses choose to outsource their accounting duties is the potential for cost savings. By outsourcing, businesses can avoid the expenses associated with
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Introduction LGBTQ+ Pride celebrations have become a vibrant and essential part of the cultural fabric in the United Kingdom. Beyond their significance in promoting equality and inclusivity, these events offer numerous financial benefits to both businesses and the economy as a whole. By fostering a supportive environment and attracting diverse audiences, Pride festivals and related activities generate substantial economic opportunities while contributing to the country’s social progress. In this blog, we explore the financial advantages of celebrating LGBTQ+ Pride in the UK. Tourism and Hospitality Industry Boost Pride events attract visitors from across the globe, making them a powerful driver
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