If you are thinking about getting private healthcare insurance for yourself and your family, you can pay for it in two ways. You can either pay for your private healthcare insurance through your limited company or do it from your personal accounts. Depending on various factors, the tax efficiency of both methods will vary. Therefore, it’s always a good idea to get an opinion of an accountant to help you find the best option.
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When you start a business, there is so much work that has to be accomplished. Every little detail matters to help make your business as successful and competitive as it should be. One of the crucial details in which you should exert your A-game has to do with your business trademark. In general, your trademark is like your brand name, whether it’s a word, a logo, a slogan or a combination of all these. This trademark is used to distinguish, identify, and set apart your company from others.
25% of all registered businesses in the UK are rural and they employ 13% of the working population. The rural economy contributes 40% of the UK’s Gross Value Added (GVA) – over £400 billion. However, a key issue faced by businesses in rural areas is that poor telecoms coverage is still holding them back (particularly high-speed internet connectivity and 4G coverage).
More often than not, the idea of starting a business seems way too complex and frightening. Most believe they wouldn’t be able to handle the challenges or have no idea what awaits them. And so, they decide not to pursue an idea or a dream and quit before they even start.
With Brexit and the uncertainty at No. 10, it’s becoming increasingly hard to predict what upcoming legislation will be enforced and when – leaving businesses, landlords and the self-employed all striving for clarity.
Employees are the backbone of working institutions. It is therefore important to maintain a good relationship with them. As humans, we want appreciation and to be recognised for our achievements. Lack of this can demoralise us from putting in the effort. We advise employers to drop their ego and create a good relationship with their employees by showing their appreciation.
Have you always dreamt of being your own boss or being responsible for your own income, but never quite been sure how to do it? Maybe you feel like you need some extra support in the structuring of a business or think that you would miss a peer support network that being employed gives you. If this sounds like you then maybe franchising is for you.
If you are classed as self-employed or have a source of untaxed income, you will be required to complete a Self-Assessment. However, this criteria is vague and many are left confused as to whether they actually need to file the tax return or not.
When setting up a new business there are many things to think about but probably the first key thing to decide on is what kind of business do you want to set up – which business entity will work best for what you want to achieve?
Nowadays, any person without an IT background, any coding or designing skills can create a website. No wonder so many people decide to start personal sites, create online portfolios and CVs, launch wedding websites, web stores, and implement their business ideas online. The great share of web resources is devoted to infotainment. If you’ve been dreaming about starting your own media, you’ve got pretty good chances to do it successfully.
While having fun may not be a mandatory prerequisite for succeeding in the business world, if you have fun performing vital tasks, you stand to receive a number of benefits. First of all, you’re bound to pay more attention to what you’re doing (instead of just dozing off in boredom), thus reducing the likelihood of a mistake being made. Second, you’re less likely to procrastinate and postpone handling this task, which means that you’re more likely to handle your tasks in time and regularly update them. Finally, if you like what you’re doing, you’ll learn a lot quicker, seeing as how you’ll already have a strong intrinsic motivation for such a thing.
In small business, getting your name out there is often one of the most difficult tasks. With lower margins and fewer employees, marketing strategically is increasingly important to the success of your business. That means utilising social media to its fullest potential, and sometimes in unexpected ways. As a small business owner, you know that Facebook and Instagram are essentials at this point. However, there is another social media channel with engaged users who are receptive to brand discovery: Pinterest.
There are basically two ’schools of thought’ when it comes to analysing financial data and making assessments about the general performances of a business or a company. The first is the one which tells you that analysing financial data is not as big of a deal and that you can easily judge a financial situation by doing some basic calculations and looking at the certain numbers. The second is the one which advocates that a more thorough and meticulous approach needs to be conducted in order for these numbers to actually mean something.
Having good cash flow is fundamentally essential for any business wanting to run smoothly and successfully. A recent UK study found that, on average, SMEs spend more than £1m a year on business-related expenditure such as staffing costs, rent, office equipment and supplies. This highlights how vital it is for SMEs to have a solid grasp of their incomings and outgoings so they can plan ahead and meet these costs.
One of the highest accolades a company can ever receive is to be named as one of the best companies to work for. Over the years we have witnessed quite a range of fantastic businesses such as InTouch Games from the Midlands managing to pick up this title, and it has served both employer as well as employees extremely well in terms of long term success, satisfaction and efficiency.
Many business owners struggle to explain their accounts and numbers (we’ve all seen this on Dragon’s Den). However, unless you understand the story your numbers are telling you, you are likely to be running your business on luck alone.
Readers Questions: I’m buying a business with customers, can I contact them or not because of GDPR?
Readers question: As a director of my Limited Company, the majority of my income comes from my contracts, plus my properties and land. Can I still take a £2,000 dividend tax-free regardless of my other earnings which take me to the 40% threshold?
These days the move to digital documentation has gone a long way towards reducing the level of physical space businesses need to devote to documentation and storage, however, it has not necessarily reduced any of the other challenges involved in creating an effective document storage system.
Is there anything more important than customer satisfaction when it comes to ensuring that your business achieves the best results? Well, unless you’re selling your products or services to people who have no basic knowledge of what quality product means, the question of how important of a role customer satisfaction plays in business marketing cannot be undermined in any aspect.
