Tax deductibles for sole traders

Tax deductibles for sole traders

One question that many business owners ask is "which business expenses are tax deductibles for sole traders?" This is important to know so you can establish your taxable profit, and calculate the tax that is due to HMRC. As a business owner you don't want to overpay...

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Work management is on the rise!

Work management is on the rise!

One of the benefits of becoming a virtual FD is the opportunity to support local businesses in achieving their goals. I have recently spoken to owners of several local businesses to understand their views on both their individual industries and also how finance and...

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When procurement met accounting!

When procurement met accounting!

One of the reasons I decided to set up my own business was because I want to support multiple businesses. Therefore whilst setting up Enrich Accounting I have spoken to local businesses owners to understand their views on their individual industries and how the...

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How finance impacts businesses

How finance impacts businesses

As part of my market research when setting up Enrich Accounting I have spoken to several owners of local businesses. This was to understand their views on both their individual industries and also how finance impacts businesses. One of the main reasons why I decided...

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Effective Performance Reporting

Effective Performance Reporting

What is your company vision? Does your current performance reporting show your achievements against this vision? Even if your sole aim is to generate as much profit as possible, just looking at your profit and loss will not give you all the insight into why you are...

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Cash in quick!

Cash in quick!

Your business could be increasing sales dramatically, but it doesn’t mean much until the money is safely into your bank account. One of the main issues facing growing businesses is managing their cash flows whilst waiting for expected income to be received. Ideas on...

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Money, Money, Money! Improving your cash flow.

Money, Money, Money! Improving your cash flow.

At different stages of your company’s life, you are likely to need some additional funds. This could be either to manage a short-term cash flow situation, or potentially to help you grow your business further. What cash flow options do I have to access funds? If you...

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What is the sensitivity of your business?

What is the sensitivity of your business?

Many businesses forecast financial performance using results from a variety of scenarios to monitor its sensitivity to varying factors. They will normally consider at least 3 scenarios: best case, expected and worst case. This type of scenario modelling can be used...

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Cash (flow) is King!

Cash (flow) is King!

In business the saying goes “Cash is King”. In these uncertain times, monitoring and understanding your current and expected cash flows is going to be even more important to ensure your business has the cash available to weather the storm! You need to have certainty...

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