Credit control: The quiet discipline that keeps a business alive Running a business in recent times has been a lesson in resilience. Costs continue to increase and customers are cautious. Cash is proving tight for many businesses and credit control is a core discipline for keeping a business afloat in such times. When businesses get…
Making Tax Digital becomes mandatory Making Tax Digital (MTD) for Income Tax is now live – many self-employed individuals and landlords with turnover above £50,000 in 2024/25 were mandated into the regime from 6 April 2026. Under MTD for Income Tax, individuals will keep digital records and send updates to HMRC every quarter using compatible…
Starting a business: What to think about now to grow later Starting a business is often driven by an idea, a skill, or a gap in the market. But turning that starting point into a sustainable, growing business requires more than enthusiasm. Early decisions – sometimes made quickly or informally – tend to shape how…
What Apple’s CEO Handover Tells Business Owners About Succession Planning Apple announced last week that Tim Cook will step aside as chief executive on 1 September 2026, and hand the role to the current head of hardware engineering, John Ternus. Cook will remain closely involved as executive chairman. If you are a business owner or…
Valuing Your Business: What Buyers Look for and What You Can Do About It If you are thinking about selling your business, whether that is in six months or six years, one of the first questions you will probably ask yourself is “what’s it worth?” While there are formulas designed to calculate the value of…
Disincorporation: Does it Make Sense for You? At one time, incorporating a business once profits reached a modest level was almost the default advice. Today, the conversation is more nuanced, and some existing company owners may even be asking themselves, “Do I still need a limited company?” The question may be prompted by rising tax…
Making Tax Digital for Income Tax – It’s just days away! The commencement of Making Tax Digital (MTD) for income tax is now just days away! This is the new regime for self-employed individuals and landlords that will start to apply from 6 April 2026 if they have business and/or property income (i.e. total takings,…
Should You Incorporate Your Business? If you have been running a business for a while, maybe as a sole trader or in a partnership, you may have heard someone say, “You should incorporate”. Sometimes that is well-meaning advice, but is it true that incorporation is the smart move for all business owners? Let’s look at…
Government Responds to Late Payments Consultation The government has published its response to the late payments consultation that ran from July to October last year. It is estimated that late payments cost the UK economy £11 billion every year, and most businesses are familiar with the pain of dealing with late payments. Here we summarise…
How Early Financial Warning Signs Can Protect Your Business from Crisis In many business failures, a collapse can look sudden from the outside. The underlying problems usually begin months or even years earlier and businesses that avoid crisis are those that spot financial instability early and act on it quickly. Here, we look at some…