Whether dividends or PAYE is the most tax efficent for your small business is a common question we get at Tandem. For many years a company director was advised to pay themselves a minimal director’s salary and then profits permitting to make up their income by dividends, solely because of the tax advantages. IS THIS […]
As a business owner we must never forget that CASH IS KING! That is why I consider it imperative to have in place a robust system for credit control, to ensure the business is receiving the monies owed on time. I totally get that credit control is a prickly subject, with business owners concerned of
How can I set up a robust Credit Control process? Read More »
How times have changed! I remember the times where a business owner only asked one question, “How much money is in the bank account”. Fortunately, nowadays the request is for the Profit and Loss (P&L) monthly report. So why is this a P&L report important to review? A Profit and Loss (P&L) report, also known
The Profit and Loss Report Part 1 Read More »
If you are a Micro Entity company, then YES we can! Now read on to find out more about whether your company can qualify as a micro entity and what that means to you and your business. So which companies can qualify as a Micro entity? Micro-entities are very small companies. Your company will be
Can a Bookkeeper complete and submit my year end accounts for a Limited company? Read More »
The answer to this question is a most definitely big Yes! Compiling a budget is one of the most useful tools any business owner could implement into a monthly, quarterly, or annual report. If we do not track something, how can we control it! What is a small business budget? A budget for your small
Should I start preparing a budget for my business? Read More »
Unfortunately, this is a question we are being asked more and more lately! When it comes down to the nitty gritty it does not matter how much profit you make or how well you are doing, because without cashflow, there is no business! Cash is King! Cash flow is the financial heartbeat of a small
My business is running out of cash so what can I do? Read More »
This is a question probably more relevant today than at any other time in the past! With the introduction of Cloud accounting and the numerous software`s now available, they advertise how easy it is to maintain your books and complete your tax returns! I do agree, it is most certainly a lot easier than it has
Why should I employ the services of a bookkeeper? Read More »
As you can imagine this is not a question with a simple answer. However, we are asked this question regularly and determining the amount of income tax you will pay will involve several considerations specific to your financial situation. Accurate calculations demand knowledge of tax codes, allowances, and deductions. Consultation with a tax professional ensures
How much income tax will I have to pay? Read More »
Boy is this a question! It is like who is the best footballer in the world! For me, I think it is best to see first, what is required from the software, and a good starting point is considering the structure of the company in consideration. If they are just about to start up a
Which accounting software is best? Read More »
It always amazes me that there are people out there who still believe registering for Vat is a choice and not a legal requirement! To begin with let’s remember that the Vat threshold in the UK for turnover is £85,000 per annum. Meaning if your annual turnover will be 85K and above you will have
When should a company become Vat registered? Read More »