Good Business Start

When is the best time to incorporate? You've heard it before. "Once you hit £50,000 profit, you need to incorporate." Or maybe it was £40,000. Or £60,000. Every business owner seems to have their magic number, and they're all absolutely certain about it. Here's what makes me uncomfortable about this advice: for most single-person businesses, staying as a sole trader is actually more tax-efficient. And with recent tax changes, that gap is widening, not shrinking. I know this g

Don't miss out on your pre-incorporation loss relief! You've been running your business as a sole trader for a few years. The first year was rough - you made a loss. Maybe the second year too. But now you're profitable and you're planning to incorporate into a limited company for tax efficiency in the next few months. Here's the question nobody seems to answer clearly: what happens to those losses you've been carrying forward? The short answer? They don't transfer to your new

If you're running a small business, you're probably juggling a dozen roles at once. The last thing you want is to spend hours buried in spreadsheets. But here's the truth: avoiding your numbers doesn't make financial problems disappear—it just makes them more expensive to fix later. The good news? You don't need to become an accountant overnight. A simple 15-minute monthly review can save you from nasty surprises at year-end, help you spot problems early, and keep your accoun

Reviewd and updated 08/11/2025 Bookkeeping is vital for businesses, ensuring accurate financial records and informed decision-making. By doing your own bookkeeping, you gain benefits such as cost savings and a deeper understanding of your financial health. In this blog post, we will share valuable insights into the world of bookkeeping and provide you with a step-by-step guide on effectively managing your own bookkeeping independently, empowering you to take control of your f

We have already talked about liquidity and financial position, which are vital for the survival and stable structure of your business....

In my last post, I wrote about liquidity ratios. I have explained why I think they are the most important of all the ratios. Let me...

I truly believe that accounting ratios are underestimated, and not used often enough by self-employed and small business owners. I often...

Why should you listen to podcasts? My life is pretty busy and intense. Is yours? I think all small business owners' lives are. The last...

Oh, dear. There is quite a lot going on recently isn't there? With the Covid and the Brexit regulations and guidelines are changing with...

MTD, or Making Tax Digital is here, and its's here to stay. Do you know what exactly does it mean to you? Are you MTD ready? Do I need to...