Plain English guide to profit and loss

Nov 25, 2023

Here’s our Plain English guide to profit and loss and what this report reveals about your finances. What is profit and loss? Your profit and loss statement is commonly called your ‘P&L’. It’s also sometimes referred to as your income statement or statement...

The Autumn Statement 2023 – Key Points

Nov 25, 2023

The 2023 Autumn Statement was presented against a background of inflation falling from recent peaks. Annual inflation for the last quarter of 2023 is now expected to be 4.8%, against a previously anticipated 2.9%. With recent large price increases now baked in, the...

Are employee parties tax-free?

Nov 7, 2023

We often get asked the question “is a staff Christmas party a tax allowable expense?” The rules around social functions are followed, staff events like your end-of-year party, or your summer barbecue are tax-deductible for you, as the employer, and...

Can directors and employees receive gifts from the company tax free?

Nov 7, 2023

Giving gifts to your employees can be a great way to increase engagement and raise the overall morale of your team. But are gifts to employees tax deductible? How much can you give before there are tax implications? And how do the rules differ if you’re giving gifts...

How much should you pay yourself as a business owner?

Nov 1, 2023

Being the boss means you get to make all the big decisions about your business – including how much to pay yourself in wages, salary or drawings. As the owner, you might need to underpay yourself in the early stages of building your business, so you can reinvest the...

10 hot questions to ask yourself as a business owner

Nov 1, 2023

Running a busy and successful business means you often don’t have the time to step back and work ON the business. This can be a challenge if your aim is to grow and scale the company. As experienced professional business advisers, we know the value of taking the time...