The business environment has been quite volatile since the financial crash of 2008. Strategic thinking is an area of focus for senior managers to navigate a way forward for their businesses, despite the challenges they face in the current market. The benefit of strategic thinking is clear – competitive advantage. For most business managers, the […]
Company Car advisory fuel rates
These rates are the suggested reimbursement rates for employees’ private mileage in their company cars and are reviewed each quarter on 1 March, 1 June, 1 September and 1 December. In line with an increase in fuel prices, the rates that apply from 1 June 2016 are shown below: Engine Size Petrol Diesel LPG […]
Self-Employed or starting a Micro Business
Did you know that almost one in seven people in the UK are self-employed? You might also classify self-employment as “freelance work”. UK research suggests that 30% of those who work in the media call themselves “freelance”. Research by Skills Development Scotland noted that the creative sector is dominated by sole traders, micro and small […]
Thinking about Incorporating your business?
Where a sole trader, partnership or LLP has established a significant value for the goodwill of their business it was possible up until 3 December 2014 to transfer that goodwill to a limited company and pay just 10% capital gains tax by claiming entrepreneurs’ relief. The former owner(s) could then draw down on the loan […]
Cross-Selling more effectively
Customer retention and cross-selling is important in any industry, yet it’s frequently overlooked. Here are a few tips to help you to cross-sell more products and services to your existing customers. The cross-sell Amazon.com attributes up to 35% of its revenue to cross-selling. When purchasing you will see both the “frequently bought together” and “customers […]
Should I use the VAT Flat Rate Scheme for my small business?
The VAT Flat Rate Scheme is intended to simplify VAT accounting and reporting for small businesses, and some may even find that they pay less VAT than using normal VAT accounting. To join the scheme your VAT turnover must be £150,000 or less (excluding VAT), and you must apply to HMRC to use the scheme. […]